Regions
Discovery Metals rejects Cathay Fortune buyout offer
Australian copper miner Discovery Metals has rejected a A$830 million ($848 million) takeover bid from Chinese private equity firm Cathay Fortune Corporation (CFC) and state-sponsored China-Africa Development Fund (CAD).
White & Case appoints three new partners in Asia
White & Case has appointed three new partners in Asia, including Jonathan Olier, a member of the law firm's M&A practice in Singapore. He specializes in private equity buyouts and restructurings as well as cross-border mergers and acquisitions.
TPG-backed Li Ning loses CFO
Yik-Kay Chong, executive director and CFO of TPG Capital-backed Li Ning, is leaving the company, effective November 1. The news follows the departure of CEO Zhang Zhiyong who spent more than two decades with the Chinese sportswear retailer.
Azure Capital launches $94m property fund
India's Azure Capital is raising an INR5 billion ($94.10 million) real estate private equity fund that will target commercial properties across the top seven cities in the country. The new vehicle - India Realty Fund II (IRF2) – will be raised completely...
Standard Chartered commits $35m to India’s Prime Focus
Standard Chartered Private Equity (SCPE) has agreed to invest $35 million in Prime Focus, an Indian company that provides creative and technical services to the film, broadcast, advertising and media industries.
TPG abandons Billabong buyout
TPG Capital has withdrawn its A$694 million ($709 million) buyout offer for Billabong, sending the Australian surfwear company’s stock plunging more than 16%. The announcement comes days after Billabong insisted that negotiations were continuing despite...
Hong Kong’s Chevalier targets Catalyst-backed Moraitis – report
Hong Kong-listed Chevalier International is said to be in exclusive talks regarding an investment in Australia’s Moraitis, a fruit and vegetable wholesaler backed by Catalyst Investment Managers.
Blackstone closes global real estate fund at $13.3b
The Blackstone Group has closed its seventh global real estate fund on $13.3 billion. Blackstone Real Estate Partners VII was launched 13 months ago, and raised capital from more than 250 global LPs.
Baring India increases holding in Manappuram Finance
Baring India Private Equity has once again upped its stake in Manappuram Finance, a non-bank financial company (NBFC) specializing in gold loans.
Kaizen invests $4m in India’s Ace Creative Learning
Kaizen Private Equity, an Indian private equity firm that focuses on the education sector, has led a $4.6 million round in Bangalore-based Ace Creative Learning.
Hong Kong PE firm backs heart failure treatment
Hong Kong-based Themes Investment Partners has led a $20 million equity financing round in LoneStar Heart, a California-based biomedical company developing new therapies for patients with heart failure.
Partners VC buys stake in Korea’s Panax Etec
Partners Venture Capital has purchased a 10% stake in Panax Etec, a South Korean battery electrolyte manufacturer, for KRW10 billion ($9 million). The investment facilitates the partial exit of Samsung Venture Investment and Bokwang Investment.
IFC to deploy up to $600m in Indonesia next year
International Finance Corporation (IFC), the investment arm of the World Bank, plans to deploy $400-600 million in Indonesia during the 2013 fiscal year, having committed $300 million to eight projects in 2012.
Everstone, India Value Fund join race to buy Avigo’s Spykar - report
Everstone Capital and India Value Fund are reportedly planning to compete with several global private equity firms for Avigo Capital Partners’ 60% stake in Indian apparel chain Spykar Lifestyle.
Japan’s INCJ to compete with PE on national interest grounds
Innovation Network Corp of Japan (INCJ) is prepared to compete with privately-owned firms where doing so would be in the country's national interest. It comes after the Japanese government fund was said to be mulling making an offer last month for Renesas,...
CVC-backed Nine makes new restructuring proposal
The management of Nine Entertainment, the beleaguered Australian media company owned by CVC Capital Partners, has put forward a new proposal for restructuring its A$3.8 billion ($3.9 billion) in debt. Adrian McKenzie, CVC’s Australian managing partner...
Baker & McKenzie names new PE chair, confirms McNamara departure
Baker & McKenzie has appointed Simon Hughes as chair of its global private equity group, in place of Sydney-based Mark McNamara. A spokesperson for Baker & McKenzie also confirmed that McNamara is leaving the firm.
Cambridge Associates opens fourth Asia-Pacific office
Cambridge Associates has opened a second office in Singapore. It will support the firm's existing consulting and investment practices in Beijing, Singapore and Sydney, as well as five locations in the US and UK.
New Silk Route adds senior operating advisor
New Silk Route has hired William I. Campbell as senior operating advisor to assist in identifying global investment opportunities. The news comes amidst reports that the private equity firm has also recruited Rajeev Gupta, former head of The Carlyle Group's...
Longreach eyes corporate carve-outs
After more than 800 days in the market, Longreach Capital Partners 2 reached a final close on September 30. It has been a challenging process that required the target corpus to be scaled back from $750 million to $400 million – but the fund is also...
Actis supports Sri Lanka hospital consolidation
For Asiri Hospital Holdings (AHH) in Sri Lanka, read India’s Sterling Hospitals in India. Actis, which has acquired a $32 million equity stake in the Sri Lankan healthcare operator, found itself looking at a similar market dynamic when it first invested...
Carlyle in second-largest India exit of the year
The Carlyle Group's $830 million exit from Indian mortgage lender Housing Development Finance Corp. (HDFC) represents the private equity firm’s largest divestment in Asia this year. It is also a welcome boost for investors keen to see India address...
3Q analysis: The bottom falls out of RMB fundraising
China US dollar funds attract more capital than renminbi vehicles; trade sales and secondary buyouts continue to gather pace; positive early signs for China buyouts
The revolving door: Chinese LPs and talent retention
Employing people in China, especially at junior level, is an illuminating experience. Job notices provoke a barrage of resumes crammed with work experience. After the customary 30-second scan, you are forced to blink and re-read, asking yourself, “How...