North America
US court widens collusion probe of 2005-2007 mega deals
The mega “club deals” between some of the big global buyout firms during the 2005-2007 boom period have been put under wider scrutiny in a US antitrust lawsuit. The four-year-old case accuses 11 firms, including Blackstone Group and KKR, of colluding...
Carlyle files for IPO but listing not expected until 1H 2012
The Carlyle Group made its IPO filing on Tuesday but volatility in the global markets means the offering is unlikely to happen until the first half of 2012.
Vector, with CITIC Capital, acquires US-based graphic manufacturing group
Tech-focused PE firm Vector Capital has acquired a majority stake in Gerber Scientific, an international supplier of automated manufacturing systems used in signs, specialty graphics, apparel and the industrial sector. Chinese firm CITIC Capital Partners...
Apollo may exit Parallel Petroleum to Korea’s Samsung C&T
Apollo Global Management could be on course to exit Parallel Petroleum after South Korean trading firm Samsung C&T said it was interested in purchasing the US asset. The deal is slated to be worth about KRW1 trillion ($919.6 million), Reuters reported,...
SingTel Innov8 participates in Sentilla's $15m Series C round
SingTel Innov8 Ventures, the venture arm of the SingTel Group, has participated in a $15 million Series C round of financing launched by California-based Sentilla Corporation, a leading provider of IT infrastructure software. Other participants include...
Market volatility hits US-listed buyout firms
Publicly traded buyout firms have seen their share prices fall 19-27% so far in August, compared to a 9.5% drop in the Dow Jones Industrial Average. As the market troubles escalated yesterday, with the Dow retreating 3.7%, Blackstone Group, KKR, Apollo...
CPP Investment Board announces 0.9% gain in fiscal first quarter
Canadian pension fund CPP Investment Board announced a 0.9% quarter-on-quarter gain for the three months ended June 30, primarily thanks to a strong performance from private market investments, Dow Jones reported.
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...
Apollo’s PE business drives up second-quarter earnings
A strong performance from Apollo Global Management’s private equity business saw second-quarter earnings reach $139.6 million, or US$0.31 per share, on the back of revenue jumped to $308.9 million from $79.3 million. According to US GAAP, Apollo posted...
GE Capital, Mitsui to target US commercial finance assets
GE Capital and Tokyo-based Mitsui will create an investment management program through which they will co-invest in US commercial finance assets. They also plan to explore global opportunities in areas such as financing for original equipment manufacturers...
Women in private equity: Minority report
Private equity is a man’s world, in Asia and everywhere else. What can women on the inside do to bring about change?
CPPIB makes first direct investment in Hong Kong real estate
Canada Pension Plan Investment Board (CPPIB) has acquired a 50% stake in Interlink, a Hong Kong building owned by Goodman Group, for approximately C$285 million ($301 million). The deal, which comprises an equity commitment of around C$205 million and...
Hermes GPE to open in Singapore this year
Hermes GPE, the European private equity and infrastructure investment firm, will reportedly extend its operation to Singapore and the US this year.
You’re only as strong as your brand name
I was surorised by the number of LPs at the recent AVCJ Private Equity & Venture Forum in the US that were familiar with the top tier private equity funds in Asia.
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...
China's HNA Group tipped to win bidding war for GE SeaCo
Chinese conglomerate HNA Group is likely to outbid private equity firm Kelso for container leasing business GE SeaCo, the Financial Times reported. The company has been put up for sale by General Electric (GE) and its joint venture partner and could fetch...
CalPERS, CalSTRS announce annual gains in excess of 20%
US pension fund CalPERS announced a 20.7% return for the year ending June 30, a 14-year high, while sister fund CalSTRS reported its best performance in 25 years with growth of 23.1%.
PE advisers prepare for US registration requirements
The US has adopted registration and disclosure provisions for investment advisers, leaving the private equity industry to fret about the costs and hassles of compliance
KPMG names Moyers head of US private equity group
KPMG has named Marc Moyers as head of its US private equity group. He succeeds Shawn Hessing who is retiring from the firm.
India's L&T sees $75m in pre-IPO raise
L&T Finance Holdings, a subsidiary of Indian engineering conglomerate Larsen & Toubro, has raised $75 million through a pre-IPO share placement to US private equity fund Capital International, according to a statement sent to the Bombay Stock Exchange.
China Auto Logistics raises $5.25m through private equity placement
China Auto Logistics has raised $5.25 million through a private equity placement. The NASDAQ-listed company, which runs automobile-related websites, sells imported luxury vehicles and provides automobile-related services, sold 3 million unregistered common...
Blackstone's new fund tipped to reach $16b
Blackstone Group is set to raise a higher-than-expected $16 billion for its latest fund due to strong investor interest, primarily from sovereign wealth funds, Reuters reported, citing a source familiar with the matter. Last year, Blackstone COO Tony...
American LPs and Asia GPs: A meeting of minds
It goes without saying that LPs are interested in Asia. But where do they – and the GPs who put their capital to work – see the best returns?
Lone Star, Hana extend KEB talks to December
Lone Star will have to wait until December to sell its controlling stake in Korea Exchange Bank to South Korean financial conglomerate Hana Financial for $4.3 billion.