Southeast Asia

3i winds down Asia buyout practice

The UK's 3i Group has wound down its buyout arm in Asia, after merging its Singapore-led buyout team into its growth capital platform in the region, and transferring responsibility for Asian buyouts to its global buyout team.

Khazanah may pick up Amanresorts

Malaysian SWF Khazanah Nasional is seeking to pick up a controlling stake in exclusive luxury resort chain Amanresorts from its current owner, Indian real estate developer DFL Group, for some $300-350 million, according to reports.

Khazanah Parkway bid "not compelling"

Singapore’s Parkway Holdings Ltd., Asia’s largest publicly listed hospital-management firm and former TPG Capital investee, has released its response to Khazanah Nasional Bhd.’s acquisition bid, saying that its financial advisor Morgan Stanley has...

Primus suit delays EON takeover vote

Primus Pacific Partners, the single biggest stakeholder in Malaysian lender EON Capital, has caused a delay to a vote by the bank's shareholders on a $1.6 billion takeover bid from Hong Leong Bank by launching a lawsuit to block the buyout offer, claiming...

CIC’s Yingru Li joins China Asean Fund

Yingru Li, previously MD in charge of private equity fund investments and co-investments at PRC SWF the China Investment Corp. (CIC), has been appointed co-Chief Investment Officer of the China Asean Fund, a $1 billion infrastructure-focused vehicle supported...

CapAsia recruits 3i's Osborne, Pru's Martin

Fresh from its rebranding, infrastructure investor CapAsia, previously CIMB Standard Strategic Asset Advisors, has recruited two senior professionals, David Osborne, formerly Partner and head of the Asia buyout team at 3i Group, and Craig Martin, previously...

Lombard exits Thai restaurant S&P

Lombard Investments has announced its exit from its stake in S&P Syndicate, a Thai restaurant and bakery chain described by Lombard as the world's biggest, realizing a 2.5x return on the fund's original 2005 investment.

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.

Mekong invests in Vietnam real estate

Mekong Capital, through its Vietnam Azalea Fund, has invested $9.1 million for a minority stake in Nam Long Investment Corporation, a leading privately-owned real estate developer in Vietnam.

Navis exits Linatex to Weir Group

Navis Capital Partners has announced its exit from its 2005 investment into Linatex, a Malaysia-headquartered specialist rubber manufacturer supplying the mining and sand/aggregates industries, through a trade sale to The Weir Group for $172.5 million.

Temasek slated for $300 million in AgBank IPO

Singapore SWF Temasek Holdings is now looking to invest some $300 million in the upcoming listing of Agricultural Bank of China, which is expected to raise between $20 billion and $30 billion in the world's biggest IPO to date, according to reports.

Dream Incubator, ORIX launch Vietnam fund

Dream Incubator Inc., a Tokyo-based VC and advisory firm, and Japanese financial services group ORIX Corp.are forming a joint private equity vehicle focusing on the Vietnam market.

MVCA AGM appoints Hussain chair

The Malaysian Venture Capital & Private Equity Association (MVCA) has just held its AGM, electing its new executive and management committees, including Darawati Hussain, Head of CIMB Private Equity & Venture Capital, as chairman.

PPF discusses expansion with Vietnam's PM

Guernsey-based private equity firm PPF Partners has met with Vietnamese Prime Minister Nguyen Tan Dung to discuss strategies on growing its business in the Southeast Asian market.

New suitor for Primus investee EON

Malaysian lender Affin Holdings has sought regulatory permission to start discussions with shareholders of EON Capital, including 20.2% stakeholder Primus Pacific Partners, for a possible bid for the company.

BMB Group acquires Contrarian for real estate

Asian investment and advisory firm the BMB Group,has acquired Paris-based Contrarian Capital Partners SA and its advisory subsidiary, Beacon Hospitality Partners S.A.R.L in Luxembourg, both of them specializing in real estate advisory services for Middle...

AIF cancels Oriental University City investment

AIF Capital Management Asia, the Hong Kong-based private equity firm, said that it will scrap a plan to buy a 10% stake valued at RMB350 million ($51 million) in China-based Oriental University City (OUC), owned by Singapore-listed Raffles Education.

SBI plans to raise $533 million for VC funds

SBI Holdings, the Japanese financial services firm, plans to raise some JPY49 billion ($533 million) by issuing new shares to finance expansion of the venture capital business it has formed in partnership with regional players in China and other emerging...