Greater China
Lower valuations, less leverage could drive China PE returns - HKMA Forum
China private equity could deliver some strong vintages relative to other markets given falling valuations, a deepening pool of management talent, and a historical emphasis on driving returns through growth rather than leverage, industry participants...
Energy transition: Getting comfortable
Private equity investors are leaning into energy transition with new funds, strategies, and attitudes about risk as more emerging categories go mainstream. Regulation remains the perennial spoiler
Q&A: BPEA EQT’s Jean Eric Salata
Jean Eric Salata, head of BPEA EQT and chair of EQT Asia, on the benefits of diversification, why Asia’s limited reliance on leverage could lead to better relative performance, and being creative with liquidity
Asia’s LP landscape: North to south
Pools of institutional – and less institutional – capital in Asia are deepening, but it remains a multi-speed market with some investors just beginning their alternatives journey and others achieving maturity
Ascendent bids $1.6b for China's Hollysys Automation
Ascendent Capital Partners has joined the battle for Hollysys Automation, a US-listed Chinese provider of industrial automation and rail transportation solutions, by submitting a bid that values the business at USD 1.6bn.
Sinovation-developed LLM platform hits $1b valuation
01.AI, a large language model (LLM) launched less than eight months ago by Chinese venture capital firm Sinovation Ventures, has achieved a USD 1bn-plus valuation, according to Kai-Fu Lee, the firm’s founder.
PE-backed Guoquan Food raises $52.5m in Hong Kong IPO
Guoquan Food, a Chinese hotpot ingredients supplier that now positions itself as a one-stop home meal solutions brand, is trading at a 8.8% premium to its IPO price following a HKD 411.4m (USD 52.5m) Hong Kong offering.
Hidden Hill leads $137m round for China's CS Smart
Hidden Hill Capital, a private equity firm backed by warehouse operator turned logistics and infrastructure investment manager GLP, has led a CNY 1bn (USD 137m) Series B round for China-based logistics vehicle manufacturer CS Smart.
PE-backed J&T Express raises $499m in Hong Kong IPO
J&T Global Express, an express delivery business that launched in Indonesia and expanded region-wide, traded flat on debut following a HKD 3.9bn (USD 499m) Hong Kong IPO.
Stellantis buys 20% stake in VC-backed Chinese EV maker
LeapMotor, a Chinese electric vehicle (EV) manufacturer that received substantial private funding prior to its Hong Kong IPO in September 2022, has agreed to sell an approximately 20% stake to European automaker Stellantis for HKD 8.5bn (USD 1.1bn).
Saudi fund invests $100m in China's Pony.ai
Saudi Arabia’s Neom Investment Fund, a strategic venture vehicle for the planned smart city of Neom, has made a USD 100m commitment to Chinese autonomous driving player Pony.ai.
Schroders, Thailand's KBank launch renminbi PE fund
Schroders Singapore and KBank Private Banking, a unit of Thailand’s Kasikornbank, have jointly launched a Thailand-based renminbi-denominated China private equity fund of undisclosed size.
Asia distress: Landslides on hold?
Investors are witnessing an uptick in turnaround opportunities based on delayed pandemic effects and a poor macro outlook. The trend remains anecdotal, but some markets could see a surge
Deal focus: isBIM targets real estate’s digitisation catch-up
A renewed focus on safety and sustainability has prompted property developers to consider technology-enabled fixes. IsBIM is riding the wave from Greater China through Asia and the Middle East
Bain, DNE launch $250m China advanced manufacturing platform
Bain Capital and Chinese industrial infrastructure developer DNE Group have jointly launched a USD 250m advanced manufacturing investment platform.
CBC hits second close on China life science real assets fund
Specialist healthcare investor CBC Group has reached a second close on its China-focused life science real assets fund with USD 875m in commitments.
US Congressional committee targets Sequoia's China exposure
Sequoia Capital has been targeted by a US Congressional committee seeking more details on its investments in semiconductors, quantum computing, and artificial intelligence (AI) in China over the past 13 years.
China's Baichuan AI raises $300m
China-based artificial intelligence (AI) start-up Baichuan AI has raised USD 300m in a first tranche of Series A funding from an investor group featuring Alibaba Group, Tencent Holdings, and Xiaomi.
3Q analysis: Dividing lines
China fundraising stays strong, across US dollar and renminbi, despite regulatory concerns; Australia confounds general slowdown in Asia PE investment; exits demonstrate promise if not results
China's Atom Bioscience raises $83m
Chinese inflammatory and metabolic disease drug developer Atom Bioscience has raised USD 83m in Series D funding led by local biotech specialist Kaitai Capital.
Eight Roads leads $22m round for Meitu's AI design unit
Pixocial, an artificial intelligence-enabled (AI) design tool spun out from China-based photo editing app provider Meitu, has raised USD 22m in funding led by Eight Roads.
Blackstone's Ed Huang switches to Asia private wealth role
Ed Huang, who has spent the last two-and-a-half years as COO of The Blackstone Group’s Asia private equity business, will become the firm’s head of private wealth solutions for the region.
China's Didi gets backing from state-owned carmaker
China ride-hailing platform Didi, which delisted from the New York Stock Exchange last year following a scandal-hit post-IPO period, has raised USD 149m in funding from state-backed carmaker GAC Group.
Shangqi hits $575m second close on renminbi fund
Shangqi Capital, a private equity affiliate of Chinese automotive manufacturer SAIC Motor, has completed a second close of CNY 4.2bn (USD 575m) on its latest renminbi-denominated fund, bettering the overall target of CNY 4bn.