Regulation
AIG seeks Nan Shan sale after Primus lapse: reports
US insurance giant American International Group (AIG) is looking to sell its Taiwanese arm Nan Shan Life over the next two months for around $2 billion, according to local reports.
GOME reaches understanding with Huang
The board of Bain Capital investee GOME Electrical Appliances Holdings Limited has announced an MOU with Shinning Crown Holdings, its largest shareholder group representing interests allied to jailed founder Huang Guangyu, whereby two new directors, including...
Morgan Stanley may exit CICC early next year
Morgan Stanley's tentative plan to offload its $1 billion stake in Chinese investment bank China International Capital Corp. (CICC) will be approved by China's securities regulator by February 2011, the official Shanghai Securities News reported earlier....
CDC may resume direct investment strategy
UK development investor CDC has confirmed to AVCJ that it may resume direct investment and co-investment strategies alongside its current private equity fund of funds approaches, following comments by UK Secretary of State for International Development...
European Union agrees private equity/hedge fund legislation
The European Parliament and European Union member states have finally agreed upon new EU regulations for private equity firms and hedge funds operating inside the EU.
Australia's ATO says will clarify tax issues after TPG Myer debacle
The Australian Taxation Office is due to issue its final determination on taxation of private equity profits, following the incident last year when the office launched a last-minute pursuit of TPG Capital over some $625 million of claimed unpaid tax and...
SGX, ASX agree Asia's first ever stock market merger
The Singapore Stock Exchange (SGX) and Australian Securities Exchange (ASX) have agreed to Asia Pacific's first-ever merger of stock exchanges, with a friendly takeover offer from SGX that values ASX at A$8.4 billion ($8.2 billion).
Wen out of New Horizon as Sihuan Pharma pre-IPO deal nixed
Leading Chinese PE firm New Horizon has confirmed that its co-founder Winston Wen Yunsong, son of PRC Premier Wen Jiabao, left the company at an unspecified date and has been working since last year for an arm of China Aerospace Science & Technology Corp.,...
Microfinance in India: helping or hurting?
The landscape for microfinance institutions (MFIs) in India has shifted in light of new legislation in the leading microlending region of Andhra Pradesh, intended to curb over-aggressive debt collecting tactics.
Morgan Stanley gets nod from authorities to sell CICC stake
Morgan Stanley has reportedly received the green light from PRC regulators for its tentative sale of its 34.3% stake in China International Capital Corp (CICC), the Chinese investment bank, according to local media reports.
Korea Exchange Bank union held secret meeting with ANZ over Lone Star exit
The employees' union of Lone Star investee Korea Exchange Bank (KEB) held a closed and secret meeting with executives of Australia and New Zealand Banking Group (ANZ) last month, smoothing the way for a bid by the Australian lender for Lone Star's controlling...
Shanghai QFLP program for non-Chinese RMB LPs approved
The pilot Qualified Foreign Limited Partners (QFLP) guidelines floated in Shanghai to allow international LPs to invest into Shanghai-incorporated RMB-denominated private equity funds have been approved by China’s central financial regulators, according...
Indian regulators consider legislation to curtail microfinance debt-collecting
Indian regulators have proposed legislation intended to curb over-aggressive debt collecting procedures by microfinance institutions (MFIs) following a series of suicides by borrowers who were allegedly hounded by their lenders.
Caught in the currency crossfire?
With US/China tension continuing high on the currency issue, spare a thought for the private equity firms and LPs who have committed to China, and now face the prospect of political tensions upsetting their target markets, and even perhaps a trade war....
Singapore's National Research Foundation plans startup fund
The National Research Foundation (NRI) of Singapore is to put S$50 million ($38.1 million) into a startup funding scheme to attract experienced entrepreneurial talent to the city-state and support locally-established startup companies, according to NRF...
Taiwan regulators say Carlyle's exit plan for Kbro needs further review
Carlyle Group’s ongoing exit process for its Taiwan cable investee Kbro needs more discussion, according to Taiwan’s broadcast regulator, particularly over competition issues in the industry.
Allies of GOME's Huang issue open letter to Bain-backed board
A group representing "the founding shareholders of GOME Electrical Appliances," including jailed former GOME chairman Huang Guangyu, has issued an open letter to current shareholders, claiming that the company's chairman, Chen Xiao, backed by Bain Capital,...
Taiwan Vice Premier Chen says private equity firms are welcome
Taiwanese Vice Premier Sean Chen has publicly stated that the government welcomes the participation of private equity funds that act as strategic investors to bring improvements in production and management expertise to Taiwanese companies.
Primus, China Strategic formally end Nan Shan bid in Taiwan
Hong Kong-listed China Strategic Holdings and financial investor partner Primus Financial Holdings have announced the formal termination of their $2.2 billion acquisition agreement for Taiwan’s Nan Shan Life Insurance effective Sept 20.
Country Risk Check: Indonesia
With GPs and LPs gung-ho for Indonesia while memories of post-1997 chaos there still linger, the market needs a risk check to assess the actual degrees of uncertainty in the country: whether dangers of another Asian financial crisis-style national collapse,...
Bain converts GOME bonds to get 10% stake
US buyout firm Bain Capital has converted its RMB1.59 billion ($236 million) of bond shares in troubled Hong Kong-listed investee GOME Electrical Appliances Holdings, the second largest electric retail chain in the PRC, into a 9.98% equity stake, gaining...
SAIF-backed China Huiyuan said breaching loan terms
China Huiyuan Juice Group Ltd., the high-profile portfolio company of SAIF Partners has reportedly breached its loan covenants, leading to a suspension in trading of shares in the pure juice maker by Chinese regulators from September 10th-13th.
CDC under scrutiny for Asia, other expenses
The UK's development policy investor Commonwealth Development Corporation (CDC), which participates in many Asia-focused funds, is under review by the UK International Development Secretary Andrew Mitchell, following press enquiries about its staff's...
CIC may see functional restructuring
China Investment Corporation, the $300 billion SWF, may be in line for restructuring plans that could see it broken into up to three functional divisions targeting equity and strategic resources investments, according to reports.