Europe
Neuberger Berman raises $720m
Investment management firm Neuberger Berman Group has raised $720 million for its private equity fund-of-funds, NB Crossroads 2010.
Asia property funds not suffering from European bank pullback
Most large Asian real estate funds are not suffering from a pullback in lending as a result of the euro zone difficulties because their exposure to European banks is minimal, according to a survey by the Asia Pacific Real Estate Association.
Saab ends investment agreement with Chinese firms
Swedish Automobile has terminated an agreement to sell a majority stake in Saab to two Chinese companies, leaving the carmaker reliant on a $70 million commitment from US private equity firm North Street Capital to cover its immediate expenses.
EQT, TPG funds reflect Asia’s PE power
Asia's growing significance in the private equity world was further confirmed in two separate fundraising events last week. First in Europe, where EQT Partners announced that Asia Pacific LPs were responsible for nearly one quarter of total commitments...
Asia Pacific LPs put up nearly 25% of EQT’s $6.5b fund
EQT Partners has raised EUR4.75 billion ($6.5 billion) for its sixth European buyout fund, with Asia Pacific LPs accounting for 23% of commitments, up from just 5% in the firm’s previous vehicle. According to people familiar with the situation, Chinese...
CIC commits $1b to Russian sovereign wealth fund
China Investment Corp. (CIC) will invest $1 billion in a joint Russia-China Investment Fund that will operate in partnership with the Russian Direct Investment Fund (RDIF), Moscow’s debut sovereign wealth fund.
AXA tipped to sell private equity unit for around $670m
French insurer AXA has put its private equity unit up for sale in order to focus on its core insurance business.
Russia sovereign wealth fund in talks with potential Chinese partner
Russia Direct Investment Fund (RDIF), the country’s new sovereign wealth fund, is in talks with a Chinese group about making joint investments, with details of a partnership potentially to be announced in October.
CIC in talks over potential investment in Northern Rock
China Investment Corp. (CIC) is being courted by British entrepreneur Sir Richard Branson as a potential partner for Virgin Money in a bid for UK lender Northern Rock. The bank, which received a GBP1.4 billion government bailout in 2008, is tipped to...
CIC, KIC chairmen named to high-profile RDIF advisory board
The chairman of China Investment Corp. (CIC), Lou Jiwei, has been named to the international advisory board of the Russia Direct Investment Fund (RDIF). Choi Chong Suk, chairman of Korea Investment Corp. (KIC), will also serve on the board alongside Bader...
Russia’s SWF assembles core management team
The Russia Direct Investment Fund (RDIF) has assembled its core management team with the appointment of five directors, a legal counsel and an adviser.
Switzerland’s SIFEM converts into a development finance institution
SIFEM, a Swiss fund-of-funds investor active in Asia since the 1990s, has been acquired by the government’s Swiss Confederation division and will now operate as a development finance institution.
Cargill beats off Chinese competition to land Provimi
Cargill, the world’s largest agricultural commodities trader, will acquire Netherlands-based animal feed company Provimi from private equity firm Permira for an enterprise value of EUR1.5 billion ($2.1 billion). China’s New Hope Group was among the...
AXA Private Equity raises $3b for secondary fund
AXA Private Equity has raised $3 billion for its latest secondary fund. It is targeting a final close of $3.5 billion for AXA Secondary Fund V, having set the hard cap at $4 billion, the Wall Street Journal reported, citing a person familiar with the...
Temasek forms JV with South Africa's Oppenheimer family
Singapore’s sovereign wealth fund Temasek Holdings will form a joint venture private equity fund with South Africa’s E. Oppenheimer & Son International. James Teeger, group managing director at E. Oppenheimer, told Reuters that each party would make...
European banks tipped to dispose $45m in PE assets by 2014
European banks could divest up to $45 billion in private equity assets within three years, according to Thomas Liaudet, a partner at Campbell Lutyens. Financial institutions are looking to rid themselves of non-core assets as they restructure their businesses...
India's Globals ITes receives first round of strategic funding
Globals ITeS, a Hyderabad based company that develops technology solutions for the education industry, has received funding from Mauritius-based Encore Operating Partners and 1886 Investments, an investment unit of the UK's Commonwealth Education Trust....
TLC Capital boosts stake in Uganda-based Indian pharma JV
TLG Capital has increased its stake in Quality Chemicals Industries(QCIL), the Uganda based pharmaceutical manufacturer owned by India’s leading pharmaceutical company CIPLA and Uganda-based Quality Chemicals.
PAI sells Kwik Fit to Japanese conglomerate Itochu
French private equity firm PAI Partners has completed the sale of UK auto parts dealer Kwik Fit to Japanese trading conglomerate Itochu for £637million ($1 billion), which includes the acquisition of £457 million ($733 million) in debt.
HarbourVest sees net asset value hit record high
HarbourVest Global Private Equity posted a net asset value of $10.92 per share on Wednesday, its highest ever level. The increase – up 6.6% from January and up 9% since the private equity firm listed in 2007 – was driven by rising portfolio asset...
Singapore’s Silecs received 16 million from venture consortium
Silecs International Pte Ltd, a developer and manufacturer of advanced Siloxane polymers, has raised $16 million in Series E financing from an investment consortium led by Singapore-based EDB Investments Pte Ltd. Other investors in the group include European...
PAI sells UK auto company to Japan’s Itochu
French private equity fund PAI Partners will sell its UK auto parts portfolio company Kwik Fit to Japanese trading conglomerate Itochu after reportedly receiving EU regulators’ blessing to complete the acquisition.
ICICI Venture takes 10% stake in Indian restaurant chain operator
ICICI Venture, a private equity firm and a subsidiary of ICICI Bank, has acquired a 10% stake in Indian food and beverage chain operator Devyani International Limited for approximately $55.6 million.
Japan’s Takeda provides exit for European PE firm
Takeda Pharmaceutical Co, one of the largest pharmaceutical companies in Japan has reportedly planned to take over Zurich-headquartered pharmaceutical maker Nycomed, which is owned by European private equity firm Nordic Capital and Credit Suisse’s private-equity...