Industry
Roc Partners hits $120m third close on fourth Asia fund
Australia-based private equity firm Roc Partners has reached a third close of $120.1 million for its fourth Asia Pacific fund-of-funds.
Southeast Asia VC: Different strokes
Ahead of an expected increase in LP interest, Southeast Asian VCs vie to stand out from the crowd by fine-tuning strategies to capture the virtues of both generalists and specialists
Indonesia's Agaeti, Convergence merge to form AC Ventures
Indonesian venture capital investors Agaeti Ventures and Convergence Ventures have announced a merger to form a new firm, AC Ventures.
HarbourVest hires Japan Post Insurance's alternatives head
Tadasu Matsuo, head of alternative investments at Japan Post Insurance (JPI), has joined HarbourVest Partners as a managing director where he will co-lead Japan coverage alongside Tatsuya Kubo.
CVC closes fifth Asia fund at $4.5b
CVC Capital Partners has closed its fifth Asia fund at the hard cap of $4.5 billion. The firm said the step up from $3.5 billion for Fund IV reflects an expansion in its regional investment capabilities.
Japan's GPIF names ex-Goldman executive as CIO
Eiji Ueda, formerly co-head of securities for Goldman Sachs in Asia Pacific, has replaced Hiromichi Mizuno as CIO of Japan’s Government Pension Investment Fund (GPIF).
TNB Aura launches COVID-19 special situations fund
Singapore VC firm TNB Aura has launched an open-ended special situations fund that will support early-stage start-ups under financial pressure related to COVID-19.
KKR hires BAML executive in Japan
KKR has recruited Hidekazu Harada, previously co-head of Japan investment banking at Bank of America Merrill Lynch (BAML), as a managing director for its private equity team in Tokyo.
Ashurst hires Danny Tan as Asia investment funds head
Ashurst has recruited Danny Tan from Allen & Gledhill to lead its investment funds practice in Asia Pacific. He will continue to be based in Singapore.
Fund focus: Carlyle stokes Japan bullishness
Expecting to see a surge in deal flow driven by divestments and succession planning situations, The Carlyle Group has bulked up to $2.3 billion for its latest Japan fund
China LP defaults: Battle of wills
A protracted legal dispute between a cross-border private equity firm and a Chinese investor is a reminder of the difficulties that can arise over fund defaults. Negotiation is always the preferred course of action
BGH, OTPP pull out of New Zealand dentistry deal
BGH Capital and Ontario Teachers’ Pension Plan (OTPP) have scrapped plans to acquire New Zealand dentistry chain Abano Healthcare citing material changes caused by COVID-19.
Unicorn India Ventures reaches first close on second fund
Unicorn India Ventures, a Mumbai-headquartered seed investor, has achieved a first close of INR900 million ($11.9 million) on its second venture capital fund.
China Renaissance looks for opportunities amid turbulence
China Renaissance ended 2019 holding RMB7.2 billion ($1 billion) in dry powder across its latest flagship renminbi and US dollar-denominated funds, with the firm noting that “great investment windows typically surface during turbulent times.”
Vickers raises $200m for sixth VC fund
Singapore-based Vickers Venture Partners has confirmed a $200 million first close on its sixth global fund, which is targeting $500 million.
China's Loyal Valley recruits ex-Blackstone executive
Brian Chi, who previously spent more than a decade making China investments for The Blackstone Group and Morgan Stanley Private Equity Asia (MSPEA), has joined Loyal Valley Capital as a partner.
Carlyle raises $2.3b for fourth Japan buyout fund
The Carlyle Group has raised JPY258 billion ($2.3 billion) for its fourth Japan buyout fund. The vehicle is more than twice the size of its predecessor, which closed at JPY119.5 billion in 2015.
Coronavirus & leverage: Room to maneuver?
Economic disruption caused by the coronavirus outbreak is likely to leave many private equity portfolio companies in breach of their leverage covenants. Borrowers and lenders are looking for a fix
Fund focus: Quona doubles down on financial inclusion
Financial technology player Quona's $203 million second fund is expected to feature more early-stage rounds, more 'adjacency' plays in previously inaccessible segments, and more start-ups outside of India and Indonesia
Australia's PE-owned Tigerlily enters administration
Tigerlily, an Australian swimwear brand acquired by Crescent Capital Partners in 2017, has entered administration following a collapse in sales attributed to the COVID-19 outbreak.
KKR appoints Asia technology investment head
Lucian Schöenefelder has been appointed head of technology investments in Asia. He previously performed a similar role for the firm in Europe.
Colombia VC to bridge Southeast Asia, Latin America
Latin Leap, a Colombian VC investor and start-up services provider, has launched a boutique fund targeting $20 million to help Southeast Asian companies expand into Latin America.
India allows weighted voting rights in domestic IPOs
Founders, promoters and private equity investors in Indian companies will be able to pursue domestic IPOs with superior voting rights following amendments to existing regulations.
Storm warning: Investors prepare for macro difficulties
The coronavirus outbreak appears to be fast-tracking a long-expected economic downturn. The situation is very different from the aftermath of the global financial crisis, but PE investors may still draw instruction from the events of 2008-2009