Industry
LP interview: HESTA
As demand for private equity grows among institutional investors globally, HESTA is focusing on building its internal unlisted assets expertise to connect with potential fund managers on their own terms
Shiyu Capital closes second renminbi fund at $477m
Shiyu Capital, which focuses on growth-stage investments in Chinese healthcare companies, has closed its second renminbi-denominated fund at RMB3.2 billion ($477 million), beating the RMB3 billion target.
Bain & Co appoints new SE Asia, Australia heads
Bain & Company has named new managing partners for its businesses in Southeast Asia and Australia. The appointments come a month after the consulting firm announced a new Asia Pacific head.
1Q analysis: China malaise
First quarter analysis: China uncertainty hits PE investment; public market instability holds back IPOs; distress strategies underpin India fundraising as commitments to China-focused managers plummet
China distress specialist DCL seeks $500m for US dollar fund
DCL Investments, a China-based distressed debt and special situations manager, is targeting around $500 million for its first US dollar-denominated fund, hoping to leverage renewed interest from foreign investors in this space.
Fund focus: Back on the map
The Longreach Group has leveraged rising appetite for exposure to Japan’s middle market with a $650 million close for its latest buyout fund. Increased global participation contributed to the result
China tech valuations: Unnatural acts
China’s tech sector is gripped by uncertainty, but some GPs will do anything to avoid marking down their portfolios. LPs are entitled to ask whether unicorns are still worthy of a billion-dollar valuation
B Capital reaches $406m first close on second fund
B Capital Group, a US venture capital firm with a strong Asia focus established by Facebook co-founder Eduardo Saverin, has reached a first close of $406.1 million for its second fund.
China's Harvest Capital hits $446m first close on consumer fund
China-based Harvest Capital, formerly known as Sino-Can Harvest Capital (SCHC), has reached a first close on its new consumer-focused fund at RMB3 billion ($446 million).
Baring Asia gets $300m fund commitment via HSBC private bank
HSBC Private Banking has raised approximately $300 million from its clients for Baring Private Equity Asia’s latest pan-regional fund.
China's Source Code raises $570m for latest US dollar funds
Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), formerly a partner at Sequoia Capital China, has closed two new US dollar vehicles at $570 million.
Japan's Chikyoren awards overseas PE mandate
Japan’s Pension Fund Association for Local Government Officials (Chikyoren) has awarded an overseas private equity mandate to Sumitomo Mitsui Asset Management.
NIIF, PSP form $2b India toll road investment platform
The Indian government-backed National Investment & Infrastructure Fund (NIIF) has teamed up with Canada's Public Sector Pension Investment Board (PSP Investments) to launch a platform that will invest up to $2 billion in local toll road projects.
AVCJ daily bulletin returns April 8
AVCJ's daily bulletin will not be published on April 5 due to a public holiday in Hong Kong for the Ching Ming Festival.
Profile: Openspace Ventures' Hian Goh
Hian Goh knows better than most Southeast Asian VC investors the cultural barriers that discourage the region’s entrepreneurs. With Openspace Ventures he aims to provide start-ups the support they need
DSG hits $30m first close on third consumer fund
DSG Partners Asia, which targets early-stage consumer opportunities in India and Southeast Asia, has reached a first close of $30 million on its third fund.
China success requires trusted partners – Lip-Bu Tan
Lip-Bu Tan, founder of Walden International, advised delegates at Intel Capital’s global summit to prioritize trust in local partners when considering investments in China.
China's foreign investment law: A level playing field?
China’s new foreign investment law appears to make life easier for overseas investors in some areas, but uncertainty remains in others. Industry participants are waiting for more details to emerge in 2020
Gobi launches $20m Pakistan-focused fund
Gobi Partners has launched a $20 million fund with Fatima Ventures, the corporate VC arm of Pakistani conglomerate Fatima Group, to tap opportunities in the country.
Longreach closes latest buyout fund at $650m
The Longreach Group has reached a final close of $650 million on its third North Asia-focused mid-market buyout fund.
China fundraising: What LPs want
Investors share the most important qualities that can help Chinese GPs gain traction in a challenging fundraising environment
Fund focus: Hostplus' diversification drive
Australia's Hostplus partners with Natixis-backed Flexstone Partners for an investment program focused on backing middle-market US managers
Oaktree Asia distress head relocates to Hong Kong
Pedro Urquidi, global co-portfolio manager and head of distressed debt for Europe and Asia for Oaktree Capital, will relocate to the firm’s Hong Kong office to play a more active role in its Asia business.
Singapore's Tembusu launches $149m in China funds
Singapore-based private equity firm Tembusu Partners has confirmed it will launch a series of funds to invest at least RMB1 billion ($149 million) in Chinese growth-stage companies.