Region
Blackstone names Baratta head of global private equity
The Blackstone Group has promoted Joe Baratta to head of global private equity. He currently leads the firm's European private equity operations.
India's Reliance Mediaworks to raise $110m from PE
Reliance Mediaworks (RMW), a Indian film and entertainment services company controlled by billionaire Anil Ambani, has raised INR6.05 billion ($109.7 million) from a foreign private equity fund. The capital will be used to cut debt and for business expansion....
Zhenrong Energy makes offer for Warburg-invested Titan
Guangdong Zhenrong Energy has offered to pay HK$150-200 million ($19.3-25.8 million) for at least 51% of Titan Petrochemicals, the debt-laden shipping and oil storage firm against which Warburg Pincus has asked a court to launch liquidation proceedings....
Indonesia caps foreign ownership of local banks at 40%
Foreign ownership of Indonesian banks will be capped at 40%, although exceptions will be made for listed banks with strong financial health and high levels of tier-one capital. On this basis, it appears that DBS Group’s $7.2 billion bid for Bank Danamon...
China to buy LP interests from GM pension plan
The Chinese government has agreed to buy stakes in a string of private equity funds, including vehicles managed by The Carlyle Group, The Blackstone Group and CVC Capital Partners, from General Motors’ (GM) pension plan.
Saratoga aims for differentiation
When Saratoga Capital was preparing to launch its third fund in July 2011, the elephant in the room was Northstar Pacific Partners. A few months earlier Northstar closed its own third fund at $820 million. Would LPs still be keen on when Saratoga came...
Hony bets on China convertibility experiment
Hony Capital is set to become the first private equity player to enter the Shenzhen-Qianhai new business zone, a pilot project for greater renminbi convertibility. John Zhao, Hony’s CEO, said the company may raise its next renminbi-denominated fund in...
CBC backs US-based power solutions provider
China Broadband Capital (CBC) has participated in a $22 million funding round for IntelliBatt, a US-based power solutions provider of power supply and battery monitoring systems. The round was led by Columbia Capital.
PE-backed Manipal Global considers stake sale – report
Several PE firms and UK media conglomerate Pearson are reportedly considering a stake purchase in Manipal Global. The transaction would facilitate the exits of IDFC Private Equity and Capital International, which together hold more than 12% of the company....
Leopard Capital reaches $20m first close on Haiti fund
Southeast Asia-focused frontier investor Leopard Capital has reached a first close of $20 million on the first dedicated Haiti fund raised since the 2010 earthquake. The final target is $40-75 million.
Carlyle sees value in mid-market hotels
Marriott to Hilton to Shangri-La, international hotel brands are buys expanding their footprints in China. Among the country’s 600 five-star hotels, more than 500 are still under construction, and average occupancy rates are barely 60%, the lowest in...
Australia's PEP sells Hoyts Distribution to Studiocanal
Pacific Equity Partners (PEP) has exited Hoyts Distribution, the largest independent film distributor in Australia and New Zealand, to European film giant Studiocanal. The private equity retains other Hoyts Group assets, including cinema operator Hoyts...
Warburg Pincus in China car hire play
Two months ago, China Auto Rental was preparing to list on NASDAQ. The car hire provider set a target of $138 million for what would be only the second IPO by a Chinese company in the US this year. The experiences of the first did not bode well: VC-backed...
China secondaries: Fresh start or false start?
China’s PE Secondary Market Development Alliance is meant to facilitate the trading of LP interests in renminbi funds. The absence of local expertise, portfolio transparency and mature LPs are obstacles to this.
Plotting the future of China cleantech
Cleantech funds and investment strategies are often difficult to define in China. Some industry participants won’t touch IT, others love it. Some remain wedded to the idea of export-oriented manufacturing, while others loathe it.
CHAMP in $192m take-private bid for Gerard Lighting
CHAMP Private Equity has launched a A$186 million ($192 million) takeover bid for Australian light fittings distributor Gerard Lighting Group. The bid has won unanimous approval from Gerard’s board and the Gerard family, which has a 52% stake, has said...
Munich Private Equity Partners opens office in Shanghai
Munich Private Equity Partners (MPEP) has opened an office in Shanghai as it looks to increase investment allocations to Asian markets.
Janalakshmi microfinance raises $26m from PE investors
Bangalore-based microfinance institution (MFI) Janalakshmi Financial Services has raised INR1.45 billion ($26.4 million) in a Series C round of funding from a group of investors.
Potential PE target Ingham Chicken goes on the block
Ingham Enterprises, Australia’s largest poultry producer, has put itself up for sale, alerting potential private equity bidders. Sole shareholder Bob Ingham he had decided to exit “after long and careful consideration.” Investec has been appointed to...
KKR-backed Seven West launches $450m share issue
KKR investee Seven West Media plans to raise approximately A$440 million ($450 million) through the sale of new shares in order to reduce debt levels. The Australian company, which owns the Seven free-to-air network, the country’s second-largest magazine...
PE-backed Whitehaven Coal receives $5.5b takeover bid
Private equity firms First Reserve and Farallon Capital have reportedly expressed their support for a A$5.3 billion ($5.46 billion) takeover bid for their portfolio company Whitehaven Coal. Coal magnate Nathan Tinkler last Friday offered A$5.20 per share...
VIDEO: Clifford Chance's Lee Taylor
Indonesia has aroused enormous interest among foreign investors but valuations remain an issue, according to Lee Taylor, a partner with Clifford Chance in Singapore. There have been huge dislocations between buyers and sellers generally since the global...
Navis exits India call center business via trade sale
Navis Capital Partners has sold its majority stake in Andromeda Sales and Distribution, an Indian financial services distributor, to Casa Capital Management. It is the Malaysia-based private equity firm’s fourth exit in six months.
Goldman, CDH-backed Himin Solar terminates IPO plan
Himin Solar, a Chinese solar water heater company backed by CDH Investments and Goldman Sachs, has suspended plans to list in Shanghai amid speculation about involvement in a corruption scandal that has already seen the removal of a leading politician...