Financials
CPPIB, Temasek join $7b pre-IPO round for China's PSBC
Canada Pension Plan Investment Board (CPPIB) and Temasek Holdings have participated in a RMB45.1 billion ($7.5 billion) pre-IPO funding round for The Postal Savings Bank of China (PSBC)
Venturra invests in Singapore's BitX
Venturra Capital, the recently launched Southeast Asia VC firm sponsored by Lippo Group, has invested an undisclosed amount in Singapore-based bitcoin start-up BitX.
DBS to support Singapore's start-up ecosystem
DBS Bank will invest S$10 million ($7 million) over the next five years in initiatives aimed at supporting Singapore start-ups.
Australia's Tyro Payments receives $72m in funding
Tiger Global Management, TDM Asset Management and Mike Cannon-Brookes, co-founder of Atlassian, have provided A$100 million ($72 million) in funding for Tyro Payments, an Australian financial technology company with aspirations of becoming a bank.
J-Star owned medical insurer makes bolt-on acquisition
Nihon Hoken Service (NHS), a Tokyo-based insurance agency and insurance solicitation business bought by J-Star earlier this year, has completed the bolt-on acquisition of industry peer Sokisha Corporation.
Allianz, Baidu, Hillhouse form Chinese insurance JV
Chinese search giant Baidu, German insurer Allianz and China-based Hillhouse Capital have formed an internet insurance company to distribute insurance products in China.
Lufax, China private funds to launch online products
Shanghai Lujiazui International Financial Asset Exchange (Lufax), a Chinese online financial platform controlled by Ping An Insurance Group, has signed agreements with 30 domestic private investment fund managers that will see their products distributed...
India financial services: Proxy play
A sizeable portion of the PE capital entering Indian financial services has targeted wealth management as local players look to scale up their offerings on the back of growing private wealth
KKR buys controlling stake in India's Avendus
KKR has bought a 70% stake in Indian financial services firm Avendus Capital for an undisclosed sum.
CreditEase's online P2P lending unit files for US IPO
Yirendai.com, an online peer-to-peer (P2P) online platform owned by China-based micro-credit loan player CreditEase, has filed for an IPO in the US.
Premji, Temasek pay $296m for stake in ICICI's life insurance unit
PremjiInvest - the family office of Wipro Enterprises chairman Azim Premji - and Singapore's Temasek Holdings have agreed to pay INR19.5 billion ($296 million) for a 6% stake in the life insurance unit of ICICI Bank.
Rakuten launches $100m fund for global fintech investments
Japanese e-commerce giant Rakuten has launched a $100 million fund for investments in financial technology start-ups worldwide.
Sailing supports securities JV in Shanghai Free Trade Zone
Sailing Capital, a private equity firm backed by Shanghai International Group, has agreed to invest in a joint venture securities company based in the Shanghai Free Trade Zone.
Deal focus: Meili Jinrong targets P2P consumer finance
Yooli founder turns his attentions to specialist niches in China's overcrowded online peer-to-peer lending space, with support from Morningside Venture Capital and SoftBank China
Creador nets 2.8x return on part-exit from Cholamandalam
Creador has made a partial exit from Cholamandalam Investment & Finance (CIF), an India-based non-banking finance company (NBFC), securing a 2.8x multiple and a 33% IRR in US dollar terms.
ADB, IFMR partner for India microfinance loans
Asian Development Bank (ADB) has joined with IFMR Capital, an Indian non-banking finance company (NBFC), to provide local currency loans to Indian microfinance institutions (MFIs).
Canada's Fairfax ups stake in ICICI Lombard
Canada-based Fairfax Financial Holdings has agreed to buy an additional 9% of ICICI Lombard General Insurance from ICICI Bank for approximately $234 million.
PE-backed China Huarong trades flat after $2.3b HK IPO
Shares in China Huarong Asset Management, a distressed debt manager with several private equity backers, opened flat in Hong Kong following a HK$17.82 billion ($2.3 billion) IPO.
PE-backed CICC files for $811m Hong Kong IPO
China International Capital Corp. (CICC) has announced the pricing for its upcoming Hong Kong IPO, which will see the company raise up to HK$6.3 billion ($811 million).
PEP-backed Link gains on Australia debut
Link Group, the Australian financial data and fund administration services provider backed by Pacific Equity Partners (PEP), is trading above its IPO price following the company's A$946.3 million ($674 million) offering.
Tiger, Matrix commit $9m Series A to India's RazorPay
Tiger Global has led a $9 million Series A round for India-based online payment gateway RazorPay, with participation by Matrix Partners.
General Atlantic buys stake in India's IIFL Wealth
General Atlantic has agreed to pay up to INR11.2 billion ($173 million) for a minority interest in IIFL Wealth Management (IIFLW), a subsidiary of IIFL Holdings, the Indian financial services group formerly known as India Infoline.
Reorient sells stake in Korean GP EQ Partners
Korean Investment Holdings has agreed to buy the entire shares in Seoul-based private equity firm EQ Partners from Hong Kong-listed financial services Reorient Group for $6.6 million in cash.
China shadow lending: In from the dark
China’s shadow lenders are an often-misunderstood part of the private debt sector. Investors say these unregulated institutions are not necessarily a threat, but they are hard to account for