Performance
Shan exits TPG for solo fund
Turnover at the top of TPG Capital in Hong Kong continues after the relocation of Dan Carroll, formerly Managing Partner with the firm in Hong Kong, to the West Coast.
New Silk Route to control 80% of INX Media
India-focused growth capital firm New Silk Route (NSR) is poised to take 80% control of struggling INX Media - up from its current 20% - as part of a deal to buy out the stakes of two existing investors, Temasek Holdings and Kotak Private Equity.
Secondary buyouts: Second helpings?
Secondary buyouts appear to be gathering pace in Asia Pacific, from the buyers reportedly circling Loscam in Australia to indications of interest around China Network Systems in Taiwan.
ChrysCapital to give back $300m
Leading Indian private equity firm ChrysCapital Management is to return $300 million of the capital from its ChrysCapital Fund V - India's biggest dedicated fund to date at $1.25 billion - to its LPs, citing a poorer market climate and limited opportunities...
Oz private equity tax ruling deferred indefinitely
The Australian Taxation Office (ATO) has deferred for the third time its long-awaited ruling on taxation of private equity profits in Australia, pending a government review of tax policy in the sector.
China: Dangerous liaisons?
Where are you looking to allocate capital? When AVCJ asked global LPs this question, the majority said: “China.”
Patient capital?
Going by some informal feedback to AVCJ, one could be forgiven for thinking that many LPs have learned nothing from the GFC.
GOME's Huang goes directly to jail
Huang Guangyu, founder of Bain Capital investee GOME Electrical Appliances Holdings, has finally been convicted in Beijing on bribery and insider trading charges, after a protracted detention, and sentenced to 14 years in prison.
Infrastructure Q&A: Luis Miranda
Luis Miranda, President and CEO of IDFC Private Equity, talks about the Indian infrastructure opportunity, and international interest.
Showdown at GOME
The strength - and limits – of founder control in PRC investee companies received a sharp demonstration last week as major shareholders ostensibly connected to Huang Guangyu – founder of GOME Electrical Appliances and at that point awaiting trial in China...
China: Hope and Reality?
Post the GFC, China seems to be powering its way more or less untroubled to regional, if not global, economic predominance.
Mayfield exits Servomax to founders
Mayfield is planning to sell its stake in power equipment company Servomax India Ltd., bought for $3.75 million in 2008, back to the founders.
Shinsei, Aozora call off bank merger
Shinsei Bank, 33% owned by US private equity group JC Flowers & Co., and Aozora Bank, 50.5% owned by Cerberus Capital Management, have called off their merger plan, due to many outstanding differences over business operations.
Strong 3i results see higher prices but team growth in Asia
Speaking on much-improved full-year results from 3i Group plc, Michael Queen, 3i CEO, said that Asia had been a not so significant short-term contributor to the company's improved performance due to high entry prices, but that 3i has firm medium-term...
Keeping LPs happy
The due diligence process has always played an important role for LPs when choosing funds to back.
And the second shall be first
Secondary deals, forecast for months now to see significant new volume across Asia Pacific, are fulfilling those predictions, as GPs pass investees from hand to hand.
GOME reappoints Bain directors after eviction attempt
The board of Bain Capital investee GOME Electrical Appliances reappointed Bain representative non-executive directors Jonathan Zhu, Ian Reynolds and Wang Li Hong after two significant affiliated shareholders voted against their reappointment at the company's...
General Atlantic may see Patni founders exit to NTT
General Atlantic may see the founding entrepreneurs in Indian investee Patni Computer Systems sell their combined 46.5% stake to Japan's NTT Data Corp., for up to $936 million.
Carlyle to take on $5.1bn in credit assets
The Carlyle Group is once again expanding its mandate, this time into credit assets.
Schroders sells fund admin unit to JPMorgan
Schroders has agreed to sell its global private equity administration services business to JPMorgan for an undisclosed sum.
Kotak contemplates multiple exits
Kotak Investment Advisors is considering exits for up to five of its portfolio companies, including Bharat Fritz Werner, BVG India, Home Solutions Retail, Metahelix Life Sciences, and SIRO Clinpharm, according to Indian reports.
Private equity insights from Japan
At the eleventh annual AVCJ Private Equity & Venture Forum Japan in Tokyo, GPs and LPs gathered to give their views on the current state of the Japanese private equity market post the global financial crisis, and the consequences for both the local industry...
Han joins CVC from Honeywell
Allen Han, formerly a VP and GM with Honeywell in China and the US, has joined CVC Capital Partners as a Senior MD with the firm's Operations Team in Asia.
NPS may join on KEB
Korea's National Pension Service may participate in the acquisition of Korea Exchange Bank from Lone Star Funds, according to Korean reports.