North America
CITIC oils Stackpole's China wheels
The oil pumps use to lubricate engine parts and reduce friction come in two forms: fixed and variable. The first are usually oversized to handle the harshest operating conditions and therefore deliver higher average oil pressure and consume more power...
Ex-Qiming partner Hans Tung joins GGV Capital
Hans Tung, formerly Beijing managing partner at Qiming Venture Partners, has become a partner at GGV Capital. He is based in Silicon Valley but will be part of GGV’s single team that invests across the US and China.
Yale trims private equity allocation
The Yale University endowment, feted among institutional investors for pioneering a portfolio management model characterized by a relatively heavy exposure to illiquid assets, has trimmed its private equity allocation for the first time since 2005.
Harvard appoints new private equity head
Harvard Management Company (HMC) - the investment arm of Harvard University - has appointed Lane MacDonald as its new managing director of private equity.
Japan's Astellas Pharma leads US-based Mitokyne $45m Series A round
Astellas Pharma, a Tokyo-listed pharmaceutical firm, has led a $45 million Series A round of investment in US biotech start-up Mitokyne, alongside MPM Capital and Longwood Founders Fund.
Silver Lake, Nexus invest in Indian commodity trading platform
Silver Lake Kraftwerk has taken a minority stake in Bangalore-based Eka Software Solutions, a commodity trading and risk management software provider. Existing investor Nexus Venture Partners also participated in the funding round.
South Korea's Troika Resources, Canada's Bellatrix form oil JV
Bellatrix Exploration, a small Canadian oil and gas explorer, has formed a C$240 million ($231 million) joint venture with the South Korea's Troika Resources Private Equity Fund (TRPEF) - which is managed by KDB Bank, SK Energy and Samchully Asset Management...
CITIC Capital, Crestview buy machinery supplier Stackpole
CITIC Capital Partners has teamed up with New York-based Crestview Partners to buy Stackpole International, a North American machinery supplier, from Sterling Group and Current Capital. The transaction value was not disclosed but it is reportedly $512...
Alibaba will not pursue Hong Kong listing
Alibaba Group has decided not to pursue a Hong Kong IPO after efforts to persuade the exchange to accommodate a shareholding structure that allows management to retain control of the business met with a lukewarm response. It is unclear where the listing...
Japan's Mitsubishi launches energy-focused fund-of-funds
Japan's Mitsubishi Corp. has led the launch of a $300 million US energy-focused private equity fund-of-funds. Energy Opportunity Fund is expected to reach its target by September next year.
Singapore's DCP leads $20m Series B for Amaranth Medical
DCP Management has led the $20 million Series B round of funding for Amaranth Medical, a medical device manufacturer. Existing investors Bio*One Capital, Charter Life Sciences and Phillip Capital, as well as new entrant Venstar Capital, also participated....
Tech IPOs: An issue of control
Alibaba Group wants the Hong Kong Stock Exchange to permit a bespoke IPO structure that would allow management to retain board control. By refusing, is the bourse going to forgo more China tech business?
India eases offshore listing rules
Indian companies will be allowed to pursue IPOs overseas without first listing domestically in a move that should please private equity and venture capital investors looking for alternative exit routes. The broader policy objective is to shore up capital...
Horizons Ventures backs Zoom Video Series B round
Hong Kong billionaire Li Ka-Shing’s Horizons Ventures, which is known for investments in Facebook and Skype, has led a $6.5 million Series B funding round for Zoom Video Communication, a California-based cloud conferencing operator.
PE-backed Cheniere Energy Partners files for $690m IPO
Cheniere Energy Partners (CEP) - a subsidiary of Cheniere Energy, a US liquefied natural gas (LNG) company backed by Hong Kong's RRJ Capital and Blackstone credit arm GSO Capital - hopes to raise as much as $690million through an IPO on the New York Stock...
Shareholders approve Shuanghui's $4.7b acquisition of Smithfield Foods
Shareholders of US pork producer Smithfield Foods have approved the company's $4.7 billion acquisition by its PE-backed Chinese counterpart Shuanghui International.
MSPEA-backed privatization of Yongye wins board approval
A $339 million management buyout offer for Yongye International, supported by Morgan Stanley Private Equity Asia (MSPEA), has won board approval. The US-listed Chinese animal and plant feed maker is now set to be taken private, pending a shareholder vote....
Ontario Teachers keen for more Asia co-investment
Ontario Teachers’ Pension Plan (OTPP) expects to become a more active co-investor in Asia, partnering with GPs in the region that offer certain geographic or sector expertise as well as operational capabilities.
WuXi PharmaTech-backed Foundation Medicine sets terms for $75m IPO
US cancer diagnostics firm Foundation Medicine, which counts the corporate venture fund of Shanghai-headquarted WuXi PharmaTech among its backers, has announced the terms for its US IPO.
Blackstone consortium reduces Pactera MBO offer
A consortium led by The Blackstone Group has made a definitive offer for Pactera Technology International that values the US-listed tech outsourcing firm at approximately $600 million. Existing investor GGV Capital is also participating in the bid alongside...
Advent, CDIB, Mirae back The Coffee Bean & Tea Leaf
Advent International has joined Taiwan's CDIB Capital and Japan's Mirae Asset Private Equity to acquire a significant stake in International Coffee and Tea, the company behind US specialty coffee and tea retailer - The Coffee Bean & Tea Leaf. The largest...
Intel Capital, AsiaVest to make partial exits from China's Montage via US IPO
Intel Capital and AsiaVest Partners will make partial exits from Montage Technology Group when the China-based semiconductor manufacturer completes its NASDAQ IPO.
PE-backed Endurance International to buy India's Directi
Endurance International Group, a US-based web hosting services provider controlled by Warburg Pincus and Goldman Sachs, has agreed to buy Indian online services firm Directi Web Technology for up to $110 million.
CalSTRS alters allocation to favor inflation sensitive, illiquid assets
The California State Teachers’ Retirement System (CalSTRS) will recalibrate the long-term allocation targets of its $170 billion investment portfolio, placing greater emphasis on inflation-sensitive and illiquid assets at the expense of equities and fixed...