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Hony, GCS named preferred bidders for Dexia unit – report
Hony Capital has teamed up with GCS Capital, a PE firm founded by former investment banker Guocang Huan, to buy the asset management arm Dexia in a deal worth EUR500 million ($615 million). The Franco-Belgian financial group is one of the biggest victims...
SAFE commits $500m to Blackstone property fund – report
China’s State Administration of Foreign Exchange (SAFE) has reportedly committed $500 million to The Blackstone Group’s latest real estate private equity fund. Blackstone Real Estate Partners VII has proved popular with investors and Stephen Schwarzman,...
Infinity Group sells IP to Anxin-China
Infinity Group, the Israel-based private equity firm created by China Development Bank and Israeli conglomerate IDB Group, has sold intellectual property developed by two of its portfolio companies to Anxin-China Holdings.
Morrison & Co raising $1b for NZ infra fund
Australasian infrastructure investor Morrison & Co. is reportedly looking to raise up to $1 billion for a private equity fund that will target low-risk global infrastructure projects.
Billabong opens its books to TPG, says buyout offer too low
Billabong International's board has agreed to let TPG Capital conduct due diligence on the company, although it maintains that the private equity firm’s A$694 million ($712 million) buyout offer is too low in the context of a control transaction. TPG’s...
Carlyle mulls Coates Hire IPO
The Carlyle Group, together with Australia's Seven Group, is considering an IPO of Australian equipment rental company Coates Hire. The news comes weeks after banks agreed to refinance the company’s A$1.85 billion ($1.9 billion) in debt.
VCs back Indian taxi firm BookMyCab
Mumbai Angels and YourNest Angel Fund, two Indian investment firms focused on early stage investments, have backed a Series A round for taxi start-up BookMyCab.
CIC doubles alternatives exposure, posts loss for 2011
China Investment Corporation (CIC) doubled its exposure to private equity, direct investments and hedge funds in 2011 but market volatility saw the sovereign wealth fund’s global portfolio retract by 4.3%, contributing to its first-ever annual loss. Net...
TPG confirms acquisition of China's HCP
TPG Capital has acquired Chinese packaging company HCP Holdings from its family owners. Sources close to the development told AVCJ the deal is worth around $500 million.
China allows insurers to double private equity exposure
The China Insurance Regulatory Commission (CIRC) has allowed insurers to invest up to 10% of their total assets in private equity. Investment in the asset class was previously capped at 5%. The move is expected to see $50 billion of fresh capital injected...
Baring PE India could raise $700m fourth fund – report
Baring Private Equity Partners India is reportedly considering the launch of a fourth fund by 2014 that would target $500-700 million. The vehicle’s main focus would be high-growth sectors.
America's Skybridge to launch $500m Asia vehicle
US alternative investment manager SkyBridge Capital is planning to launch an Asia-focused fund next year worth $250-500 million, according to the firm’s founder.
Ironbridge's EnviroWaste could fetch healthy price
Ironbridge Capital is mulling the sale of its waste management company, EnviroWaste. The New Zealand-based firm is expected to sell for a healthy price as its Australian counterpart Thiess was bought for A$218 million ($225 million) earlier this month....
Archer Growth invests in Best Friends Pet Supercentre
Archer Capital Growth Funds, the Australian GP’s lower mid-market unit, has set up a partnership with Best Friends Pet Supercentre and plans to expand the chain to 44 outlets. The company currently operates 11 supercenters that sell pet products and offer...
VIDEO: Archer Capital's Greg Minton
Australian fund managers need to go offshore to raise capital – but only if they are targeting large funds, says Greg Minton, managing director at Archer Capital. “In fund IV we got about A$740 million from the domestic market and about the same again...
Australia's lower mid-market retains its appeal
Successful fundraises by CHAMP Ventures and Archer Capital Growth Funds suggest that foreign LPs are willing to fill the gap left by Australian institutions. Performance and consistency remain the key factors
The US invasion: Competition rises among Asia PE legal counsel
A host of US law firms are boosting their Asian operations with a view to offering private equity clients a full suite of services, from fund formation to capital markets. Is there enough business to go around?
Why Australian take-privates are taking off
A renewal of interest in Billabong International from TPG Capital always seemed likely. When the PE firm first came calling in February with a A$3 per share buyout offer, Billabong’s management refused to budge from its valuation of $4 per share. The...
James Fong joins Mayer Brown JSM as partner
Global law firm Mayer Brown JSM has appointed James Fong as partner in its corporate and securities practice. He joins from Hogan Lovells, where he became a partner in 2010.
India ATMs: Banking on convenience
Recognizing the need for more ATMs, a consortium of Indian banks has opened up the business to independent contractors. Numerous private equity-backed enterprises are waiting to swoop
Valar leads $1.2m round for Australian IT start-up
Valar Ventures, the venture capital firm run by PayPal co-founder Peter Thiel, has made its first investment in Australia, leading a $1.2 million round for IT start-up ScriptRock.
Creador takes proprietary route to MNC IPO
One of the biggest criticisms leveled at private equity firms that anchor IPOs is that LPs expect them to do proprietary investments. When Saban Capital and Creador Capital performed the anchor role for MNC Skyvision’s $228 million offering earlier this...
Kerogen Capital raises $1b for debut energy fund
Kerogen Capital has reached a final close in excess of $1 billion for its debut energy-focused fund. Investors include North American foundations and endowments, family offices, fund-of-funds, an affiliate of a Middle East sovereign wealth fund, and investors...
A Capital bets on B&O's China growth story
Just three months ago, 87-year-old Danish electronics manufacturer Bang & Olufsen (B&O) announced worse-than-expected third quarter results: revenue was down 7% year-on-year while pre-tax profit fell by 37%. The company blamed poor sales in Europe and...