North America
Intel, JPM investee Trony pulls IPO
Trony Solar Holdings, a Shenzhen-headquartered thin-film solar power module manufacturer invested by Intel Capital and JPMorgan Special Situations, has withdrawn its planned NYSE IPO.
CIC targets US realty assets, Indonesian resources
China Investment Corporation (CIC), China's $300 billion sovereign-wealth fund, is reportedly in advanced talks to acquire half a dozen US-focused real estate fund holdings from Harvard University's endowment, in a deal estimated at about $500 million....
Qiming invests $10 million in two life science companies
Qiming Venture Partners, the PRC-focused early and growth stage VC company, has invested a total of $10 million in two life science research service companies, Sangon Biotech in Shanghai and Bio Basic Inc. (BBI) in Toronto.
WuXi Pharma sees no exit via Charles River
VC-invested PRC pharmaceutical major WuXi PharmaTech saw its $1.6 billion sale to US peer Charles River Laboratories fail over opposition from major shareholders in Massachusetts-based Charles River, including Neuberger Berman and hedge fund Jana Partners....
New private equity regulation: industry crisis averted, or postponed?
For many months now, the private equity segment in the US – whose rules and norms still set the terms for industry practice in Asia Pacific as elsewhere – has been beset by creeping insecurity.
JS Pakistan fund gets OPIC backing
JS Private Equity Fund II, the fund launched by Pakistan's JS Private Equity that targets $150 million, has received a $50 million commitment from US policy investor the Overseas Private Investment Corporation (OPIC).
H&QAP claims 11x return on Fabrinet after IPO
Long-established regional private equity firm H&Q Asia Pacific (H&QAP) has claimed an 11x return on its 1999 investment in Thailand-headquartered optical and electronic components foundry company Fabrinet, after the latter's IPO on the NYSE earlier in...
MakeMyTrip IPO could give big exit for VCs
VC-backed Indian online travel company MakeMyTrip(MMT) may deliver one of the largest recent exits for investors via a debut on NASDAQ, after filing for an IPO expected to raise up to $100 million.
BofA secondaries may go to Asia
Bank of America Corp. is seeking to sell up to $1.2 billion of secondary positions in Warburg Pincus funds, with the China Investment Corporation (CIC) cited as one of the most likely buyers, according to reports.
PE-backed Ambow files for NYSE IPO
Ambow Education Holding Ltd. - a PRC education and career development service provider backed by Actis, CStar Investment, EdVenture, JAFCO Asia Technology Fund and Macquarie - has filed for an IPO on the New York Stock Exchange, planning to raise nearly...
Accel does biggest software deal to date with Oz Atlassian
Accel Partners, the Silicon Valley-headquartered VC firm, has made what is ostensibly its largest investment in a software business to date, with a $60 million commitment to Atlassian Pty, a Sydney-based software developer.
Morgan Stanley private equity supremo Trevor leaves
Stephen Trevor, co-head of Morgan Stanley Investment Management and hired in 2006 to head up the new private equity business within the division, is stepping down alongside co-head Stuart Bohart.
Industry Q&A: Glenn Hubbard
AVCJ spoke to Glenn Hubbard, Dean of the Columbia Business School and former Chairman of the Council of Economic Advisers to George W. Bush, about current US attitudes toward private equity investment in Asia.
GATE says rolling out in Southeast Asia
GATE Technologies, a NYC-headquartered firm seeking to establish a series of online GATE Developing Marketplaces in illiquid securities and alternative assets, including private equity fund positions, has said that it "is in discussions with a Singapore-based...
CIC-AES JV out of wind
PRC SWF the China Investment Corporation (CIC) has jointly announced with $14 billion Virginia-headquartered global power giant AES Corp. that their non-binding letter of intent for CIC to take a 35% stake in AES Wind Generation expired at the end of...
Private equity dodges US regulatory bullets?
A couple of much-anticipated US regulatory developments for private equity that were definitely calculated to affect the industry in Asia Pacific, and indeed, worldwide, appear to either have closed, or be on the point of closing, with relatively positive...
Japan's SBI and US Jeffries will form two joint funds
SBI Holding Inc., the Tokyo-based financial group, has reached a final agreement with Jefferies Group Inc, a global securities and investment banking group headquartered in the US, to form two new investment funds: the Jefferies-SBI USA Fund and SBI-Jefferies...
TPG/AA JAL deal still flying?
TPG Capital and American Airlines' plan for a $1.4 billion turnaround investment in Japan Airlines (JAL), seemingly stalled, has received fresh impetus with JAL making a formal application for anti-trust clearance to Japanese regulators, so as to proceed...
KIC allots $200 million for Chesapeake
South Korean SWF the Korea Investment Corporation (KIC) has said that it will invest $200 million as part of its participation in the $900 million stock issue by heavily indebted US natural gas and energy company Chesapeake Energy.
JAFCO Asia, Mitsui, CEL invest Prudent Energy in China
PRC energy storage business Prudent Energy has announced that pan-Asian VC investor JAFCO Asia, Japanese VC firm Mitsui Ventures and European growth capital investor China Equity Links (CEL) Partners, as well as other investors, will invest a total of...
MagnaChip to debut on NYSE
South Korea’s MagnaChip Semiconductor, currently invested by distressed investment firm Avenue Capital Group and previously backed by a number of private equity firms prior to earlier bankruptcy, is poised for its IPO on the NYSE, in a listing which is...
H&Q's Fabrinet launches NYSE IPO
Fabrinet Inc., a Thailand-based provider of foundry services for optical components backed by investors including H&Q Asia Pacific, is launching its IPO on the NYSE, targeting to raise up to $110.5 million.
Asia Pacific: No longer far away
Despite predictions by some forward-looking industry figures that China may move ahead to supplant the US within a couple of generations as the world’s biggest private equity market, the US remains the fulcrum of global private equity.
SBI in new round for Quark Pharmaceuticals
Japan's SBI Holdings Group, the investment conglomerate behind the SoftBank family of funds, has made a further commitment of $10 million to investee company Quark Pharmaceuticals, a Californian developer of RNAi-based drugs.