Regulation
Proceed with caution
China’s rapid growth has lured private equity funds pie-eyed for returns, but the market’s realities make investing more difficult to maneuver
Australian government boosts renewable energy focus
The Australian government has upped its backing of the country’s renewable energy category via A$100m ($106 million) investment into the Renewable Energy Venture Capital Fund (REVCF), allocated from the federal budget.
Two more firms approved by Shanghai for QFLP program
First Eastern Investment Group and a joint venture between CLSA and Shanghai Guosheng have joined Blackstone, Carlyle and DT Capital as firms approved for Shanghai's QFLP program.
Milestone-backed jeans maker files for Chapter 11
Private-equity backed Bobson & Co., a Tokyo-based jeans maker, has filed for Chapter 11 with a debt of JPY734million ($9.1 million) as of Feb 2011.
Blackstone, Carlyle and DT Capital approved for QFLP pilot
Three private equity firms, Blackstone, the Carlyle Group and local representative DT Capital, have received approved from the Shanghai government for its Qualified Foreign Limited Partners (QFLP) scheme says a report by Reuters.
Korea looks to ramp up alternative investments
South Korea’s regulatory bureau is reviewing the country’s financial laws in an effort to scope out methods of augmenting Korea’s alternative investment landscape, through means including domestic private equity and hedge funds, according to Reuters....
Kefei Li joins Wilson Sonsini Goodrich & Rosati
Tech and enterprise-focused law firm Wilson Sonsini Goodrich & Rosati has appointed Kefei Li as a China-based Partner, joining from Skadden, Arps, Slate, Meagher and Flom in Beijing.
Blackstone RMB fund approved for QFLP
The Blackstone Group’s RMB denominated domestic Chinese private equity fund has been approved for the Qualified Foreign Limited Partner (QFLP) program by the Shanghai authorities according to a report by Bloomberg.
Japan regulators offer flexibility for stability
To date, the Japanese government has estimated that damage from the interconnected natural disasters is likely to reach at least $198 billion, and it has pegged the possible economic loss at between JPY16 trillion ($196 billion) and JPY25 trillion ($306...
Nippon, Reliance Life deal awaits approval - reports
One week after Japanese insurance giant Nippon Life announced its intention to take a 26% stake in India’s Reliance Life Insurance, news surfaced that the deal may be stalled as regulators have yet to bless the transaction.
VIDEO: AVCAL's Katherine Woodthorpe
In light of ongoing changes to Australia’s shifting taxation landscape related to private equity and venture capital, Katherine Woodthorpe, CEO of AVCAL, updates AVCJ on the progress the industry is making in its dealings with the government, and the...
Measures taken to minimize damage on Japanese indexes
As a rare measure of flexibility, Japan’s Financial Services Agency and the Tokyo Stock Exchange have exempted companies that have been upended by last week’s earthquake from meeting earnings announcement deadlines, according to the Nikkei.
Saving PE on Republicans' agenda
US Congressional Republicans are drafting five bills aiming to curtail the reach of the Dodd-Frank Act in specific areas of the financial industry, further targeting a provision that regards private equity’s disclosure protocol.
A Capital launches first outbound RMB fund
Hong Kong-based PE firm A Capital has teamed with the Beijing Municipal Bureau of Financial Work to launch China’s first reminbi-denominated outbound private equity fund, with an RMB3 billion ($456 million) target.
Distressed Japanese hotel closes doors
PE-backed Hotel Sendai Plaza, one of Japan’s most historic hotels in Sendai, will permanently close its doors on March 25 due to a decline in sales and hurdles related to property rental fees.
TPG, J-Trust near Takefuji takeover
U.S. buyout firm TPG Capital and Japanese consumer lender J-Trust have emerged as the lead contenders to take over the collapsed Japanese consumer lender Takefuji Co., Dow Jones reported
AVCL "making progress" with Australia tax issues
In an interview with Katherine Woodthorpe at the 8th Annual Australia & New Zealand AVCJ Private Equity and Venture Forum, the Chief Executive of AVCAL told AVCJ that she had spent four hours with the tax department just yesterday, and that although the...
China QFLP program to extend to Beijing
Months after PRC regulators approved a pilot scheme that allows overseas LPs to exchange their currencies into RMB to invest in Shanghai-incorporated private equity funds, authorities are set to extend the rule to Beijing.
(In)famous in Australia: Tax
Foreign investors as LPs and GPs in the Australian private equity industry remain anxious the Australian Tax Office’s recent reversal of years of precedent with two taxation determinations relating to investments in Australian assets by foreign investors....
SEBI delays Milestone Capital's listing - reports
Milestone Capital Advisors' intended IPO has reportedly been delayed for eight months following the Securities and Exchange Board of India's (Sebi) ruling that the move may be too risky to smaller investors, India’s LiveMint reported.
Sri Lanka imposes year-long share-holding period
Sri Lankan authorities have mandated that private equity firms adhere to a year-long binding period that prevents them from selling shares of companies recently listed on the Colombo Stock Exchange.
China may approve PE units for brokerage firms
The asset management divisions of some brokerage firms in China may be granted the right to launch their own private equity funds, Reuters reported, noting that such a move may boost growing PRC banks’ status to those of the major global investment institutions...
Carlyle-, Partners-backed China Forestry under investigation
The CEO of the Carlyle- and Partners Group-backed company China Forestry Li Han Chun has had $51 million worth of assets frozen after the Hong Kong Securities and Futures Commission uncovered potential auditing irregularities leading to the suspension...
Enam India Infrastructure fund approved for FDI
Enam India Infrastructure Fund, a Mauritius-registered fund, has reportedly received approval to take foreign direct investment of 3,450 crore ($755 million) from The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh,...