North America
Carlyle targets $762m in IPO
The Carlyle Group is seeking to raise as much as $762.5 million through its initial public offering. This would value the company at up to $7.6 billion, less than half the current market capitalization of The Blackstone Group and more than $2 billion...
China's Chengwei, Tsing back US materials company
Polyera, a US-based supplier of functional materials for the electronics and opto-electronics industries, has secured $24.5 million in Series C funding from investors including Chengwei Capital and Tsing Capital.
InnoSpring launches US-China technology incubator
InnoSpring, Silicon Valley's first US-China technology incubator, began operations last week to support the expansion of US and Chinese start-ups beyond their home countries. The incubator also announced the establishment of its InnoSpring Seed Fund.
WSGR hires PE-focused partner in Shanghai
Wilson Sonsini Goodrich & Rosati (WSGR), the US-based law firm specializing in technology and life sciences, has hired Zhan Chen as a partner in Shanghai. Her practice focuses on private equity, privatizations and M&A.
Oaktree files for $595m IPO
Oaktree Capital Group, the US-based debt-focused private equity firm, has filed for an IPO that could raise up to $595.1 million. Co-founders Howard Marks and Bruce Karsh stand to take away as much as $117.2 million each from the sale.
Blackstone closes second global mezzanine fund at $4b
The Blackstone Group has raised $4 billion for its second global mezzanine fund, making the vehicle twice the size of its predecessor. The fund has already deployed or committed $780 million to four companies, including Japan’s Sony Corp, which required...
Asian LPs join Latin America’s PE carnival
Asian investors are upping their commitments to Latin American private equity funds in a bid to be part of another emerging markets growth story
CITIC Capital target AsiaInfo to consider other bids
AsiaInfo-Linkage, the US-listed telecom software manufacturer that is subject to a buyout offer from CITIC Capital, plans to consider privatization proposals from other parties. This comes one month after reports that several private equity firms and...
Los Angeles pension fund invests $25m in Hony V
Los Angeles City Employees’ Retirement System (LACERS) committed up to $25 million to Hony Capital Fund V, which closed in January at $2.4 billion, $1 billion larger than its predecessor.
Big payouts detract from the real issues
The Last couple of months have been interesting times for private equity but perhaps largely for the wrong reasons. As all of you know, Mitt Romney’s bid for the Republican presidential candidacy has spurred criticism from rival politicians keen to...
US pension funds move to raise alternatives exposure
Two US pension funds, Georgia Employees’ Retirement System (GERS) and Ohio State Teachers’ Retirement System (OSTRS) have made moves to boost their exposure to alternative investments.
CPPIB names Mark Wiseman as new CEO
Mark Wiseman will become the next CEO of Canada Pension Plan Investment Board (CPPIB) when current head David Denison retires at the end of June.
SEC files lawsuit against executives of Chinese coal company
The US Securities and Exchange Commission (SEC) has filed a lawsuit against two Chinese executives from Puda Coal, accusing them of shifting its main asset to a third-party company and then selling a stake to CITIC Trust. Ming Zhao and Liping Zhu, chairman...
Baird Private Equity names Asia hand Carbone global head
Robert W. Baird & Co. has appointed Gordon Pan as head of its global private equity group. He succeeds Paul Carbone, who has joined Chicago-based investment firm The Pritzker Group.
KKR, TPG consider AsiaInfo bid – report
Several private equity firms – including KKR and TPG Capital – and strategic investors are reportedly considering bids for AsiaInfo-Linkage, the US-listed firm that is already subject to a buyout offer from CITIC Capital.
MMI relies on US investors for $300m high-yield bond
KKR-owned MMI International successfully issued its $300 million high-yield bond, principally attracting interest from US investors due to their familiarity with the sector and the company’s customer base. The five-year non-call bond was priced at a...
CPPIB hires Goldman’s Mark Machin as Asia president
Canada Pension Plan Investment Board (CPPIB) has appointed former Goldman Sachs executive Mark Machin as Asia president. He will be based in Hong Kong and take responsibility for the pension fund’s investment strategy and programs throughout Asia Pacific.
Yahoo, Alibaba deal talks flounder – reports
Negotiations between Yahoo and Alibaba over the US firm’s potential divestment of its stake in the Chinese e-commerce giant are said to have reached an impasse. There are conflicting reports as to the cause of problems, but some suggest it rests on...
CalPERS criticizes PE industry on tax breaks
Joe Dear, CIO of the California Public Employees’ Retirement System (CalPERS), waded into debate on how private equity is taxed in the US, saying that buyout firm executives “risk becoming the robber barons of the 21st century” if they don’t back...
Northern Trust announces new appointments
Northern Trust has promoted Brad Dorchinecz to director of private equity as part of a raft of major appointments intended to strengthen its alternative investments business.
Temasek backs US online ad startup
Temasek Holdings has led a $30 million round of investment in Marin Software, a San Francisco-headquartered advertising management platform. The company has now attracted more than $80 million from VC and PE backers.
SEC inquiry targets PE asset valuation mechanisms
Private equity firms have been asked to disclose to US regulators information on how they value assets, as well as on areas including fundraising and fund formation, as part of an informal inquiry into the industry. The Securities and Exchange Commission...
CIC-backed EIG shuns US to pursue Hong Kong listing
EIG Global Energy Partners, the US-based energy sector specialist, will delist its investment vehicle from Goldman Sachs’ electronic platform and list in Hong Kong.
CalSTRS commits $500m to IFM’s infrastructure fund
California State Teachers’ Retirement System (CalSTRS) has committed $500 million to Australia-based fund-of-funds Industry Funds Management (IFM). The capital will be placed in the firm’s Global Infrastructure Fund, which principally targets assets...