Southeast Asia
Former GIC executive director elected president of Singapore
Former executive director at Government of Singapore Investment Corp. (GIC) Tony Tan has been elected the seventh president of Singapore, beating second-place Tan Cheng Bock by a margin of 0.3%.
Property developer Banyan Tree seeks more PE funding
Singapore-based luxury-resort developer Banyan Tree Holdings is looking to raise more funds from private equity as it pushes ahead with plans to build high-end homes in second- and third-tier cities in China.
CNOOC anchors PE fund targeting Asian energy assets
China National Offshore Oil Corp. (CNOOC) has formed a strategic partnership with Kerogen Capital, which is raising a $1.5 billion private equity fund that will target energy investments in Asia.
GIC confirms death of Mayukh Mitter
Mayukh Mitter, head of the direct investment group for Asia, ex-China, at the Government of Singapore Investment Corp. (GIC), has died. According to reports, he suffered a fatal heart attack on the morning of August 15. Mitter’s office confirmed his...
PE-owned Fitness First approved for Singapore listing
Singaporean regulators have reportedly granted UK-based BC Partners approval to launch its portfolio company Fitness First on the Singapore Stock Exchange. It comes more than a year after the private equity firm announced that it would take Fitness First...
Secondaries in Asia: Small beginnings
Global secondary investors are opening offices and forging relations in Asia, waiting for the trickle of deals to evolve into a healthy flow
Singapore's Asian Agri Capital to raise $100m for palm oil investment
Asian Agri Capital, a Singapore-based early-stage plantation investor, is looking to raise $100 million to invest in palm oil and other tropical commodities in Southeast Asia and Latin America, Bloomberg 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...
Temasek affiliate part-exits Shin Corp holding
An affiliate of Temasek Holdings has sold 7.9% of its stake in Thai telecom company Shin Corp. Cedar Holdings, which is 49% owned by the Singaporean sovereign wealth fund, raised THB9.126 billion ($305 million) through the sale of 253.3 million shares...
CHAMP seeks first stand-alone deal in Southeast Asia
CHAMP Private Equity is targeting acquisition opportunities in Southeast Asia for its A$1.5 billion ($1.55 billion) third fund. Managing Director Cameron Buchanan told Reuters that the firm would use its Singapore office to help Australian and New Zealand...
Lombard exits Thai mall developer for 7.1x return
Lombard Investments has exited its stake Thai shopping mall developer Central Pattana via a sale to local and institutional investors, earning $170 million, or a 7.1x return on its $24 million investment.
Turnarounds in Thailand
Thailand has gained minimal attention as an investment destination in Southeast Asia, but recent transactions highlight its potential
GMR Energy takes 30% stake in Indonesian coal mine
GMR Energy, a subsidiary of GMR Infrastructure, will buy a 30% stake in Indonesia’s T Golden Energy Mines for $450-550 million. The agreement includes an off-take clause that guarantees the Indian firm coal supplies rising to 10 million metric tons...
Indonesia bans banking sector takeovers
Indonesia’s central bank has temporarily barred takeovers in the banking sector – where there is considerable interest from foreign private equity investors – as it considers a review of ownership rules. The central bank is still drafting the policy...
Saigon Asset Management to launch $300m Indochina energy fund
Saigon Asset Management plans to raise $300 million for an energy fund targeting thermal and hydro power projects in Vietnam, Cambodia and Laos. The company believes the energy sectors in these countries are open to foreign investment and plans to participate...
TPG eyes controlling stake in Indonesian tire manufacturer
US buyout firm TPG Capital has emerged as a potential bidder for Indonesian tire manufacturer Multistrada Arah Sarana, Reuters reported. It faces competition from South Korea's Hankook Tire and Japan’s Yokohama Rubber.
Indonesia's GPs: Subscriptions wanted
A clutch of new GPs have emerged in Indonesia, looking to capitalize on growing international interest in the market. How many will survive?
DFJ's Tim Draper invests in Singaporean VC incubator
Draper Fisher Jurvetson (DFJ) founding partner Tim Draper has invested an undisclosed sum in Singaporean tech incubation firm Clearbridge Accelerator.
Ex-AIA boss seeks PE backing to buy Aviva’s non-core businesses
Former AIA CEO Mark Wilson is trying to raise private equity funding to bid for Aviva’s non-core emerging markets business, The Financial Times, reported, citing people familiar with the situation. The UK firm is considering a sell-off of its smaller...
CLSA makes $15m investment in Indonesian tea company
CLSA Capital Partners (CLSACP) has invested $15 million in PT Sari Wangi AEA, which claims to be the largest privately held tea company in Indonesia.
Lombard exits stake in Thai auto parts manufacturer
Lombard Investments has exited its stake in Thailand-based auto parts manufacturer Somboon Advance Technology (SAT), earning a 3.5x return on its investment.
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?
GIC announces improvement in returns over last fiscal year
The Government of Singapore Investment Corp (GIC) said returns on its portfolio increased during the fiscal year ending March 2011 as equities markets improved, but warned that global economic uncertainties continue to pose a significant risk.
CLSA invests $20m in Indonesian auto financing firm
CLSA Capital Partners (CLSACP) has agreed to pay $20 million for a minority stake in PT Sinar Mitra Sepadan Finance (SMS Finance), an Indonesian auto financing firm.