Financials
Beyond banks: Alternative financing in India
Recognizing India’s demand for financial products that involve more than just equity, traditional PE firms are targeting structured credit, joining distressed players that used to call the territory their own.
Sequoia backs Chinese online lender Ppdai
Sequoia Capital has invested in a Series A financing round of Ppdai, a Chinese peer-to-peer online lending firm. The capital is expected to expand the company’s capacity on technology infrastructure and marketing campaigns.
Patni brothers buy stake in Grameen Capital India
Amit and Arihant Patni, the brothers who set up internet-focused VC firm Nirvana Venture Advisors, have acquired a stake in Grameen Capital India (GCI) from its original investor IFMR Trust. The transaction is said to represent a first-of-its-kind exit...
Abraaj-backed Network International buys Indian remittance firm
Abraaj Capital-backed Network International has acquired a majority stake in TimesofMoney, an India-based online remittance company.
Lone Star starts arbitration proceedings against Korean government
Lone Star Funds has initiated arbitration of its claim for damages suffered as a result of alleged unlawful intervention by the Korean government with the private equity firm’s rights as a major shareholder in Korea Exchange Bank (KEB) and other companies...
Warburg Pincus backs India's Future Capital
Warburg Pincus' investment in Future Capital Holdings probably wasn’t the first private equity deal conceived on an evening flight from New Delhi to Mumbai and it almost certainly won’t be the last.
India mobile payment firm raises Series A round
Mobile payments company Ezetap Mobile Solution has raised a Series A round of funding from Silicon Valley-based venture capital firm Social+Capital Partnership, PayPal’s Peter Thiel and David Sacks of Microsoft, among others. Existing investor AngelPrime...
KKR, Allegro pick up Australasian loan portfolio from BOS
KKR’s special situations business has teamed up with Australia’s Allegro Funds to acquire a portfolio of commercial loans from BOS International. The sale came after Lloyds International, BOS’ parent, conducted a review of its Australia and New Zealand...
Warburg Pincus increases stake in Future Capital to 68.4%
Warburg Pincus has increased its stake in India financial services firm Future Capital Holdings to 68.4% after acquiring an additional 24.43% stake for INR2.7billion.
Carlyle in talks with Prizm for controlling stake – report
The Carlyle Group is reportedly in advanced talks with Sequoia-backed Prizm Payments, India's leading electronic payments service providers, for a controlling stake in the company. The deal is said to value Prizm at $225-250 million, which is equivalent...
Japan mulls bank rule change, prompts protectionist fears
The Japanese Government is considering altering regulations to allow banks to own larger stakes in Japanese companies, prompting fears of protectionism among the private equity community.
Pacific Century snaps up ING's Asia assets
Hong Kong-based private equity firm Pacific Century Group has acquired several parts of ING’s life insurance operations. It will pay EUR1.64 billion ($2.14 billion) for the Dutch financial institution’s life insurance, general insurance, pension and financial...
Standard Chartered's financial sponsors head gets Indonesia role - report
The head of Standard Chartered’s financial sponsors group in Hong Kong, Sarab Bhutani, has reportedly been appointed co-head of wholesale banking for Indonesia. He will be responsible for deal origination and client coverage.
China Private Equity restructures Australia securities platform investment
China Private Equity Investment Holdings (CPE), an AIM-listed vehicle that claims to offer European investors exposure to Chinese private equity without the limitations imposed by closed-end funds, has restructured its investment in Australian online...
Baring India increases holding in Manappuram Finance
Baring India Private Equity has once again upped its stake in Manappuram Finance, a non-bank financial company (NBFC) specializing in gold loans.
Carlyle in second-largest India exit of the year
The Carlyle Group's $830 million exit from Indian mortgage lender Housing Development Finance Corp. (HDFC) represents the private equity firm’s largest divestment in Asia this year. It is also a welcome boost for investors keen to see India address its...
Carlyle to sell stake in HDFC – report
The Carlyle Group is poised to sell its 3.7% stake in mortgage lender Housing Development Finance Corp. (HDFC) for approximately $850 million.
Cerberus to exit Japan's Aozora Bank
Cerberus Capital is planning to sell its $2.5 billion stake in Japanese lender Aozora Bank after a 12-year holding period.
LeapFrog buys 15% of India's Mahindra Insurance for $15m
LeapFrog Investments, a firm focusing on microinsurance for the world's poor, has bought a 15% stake in India’s Mahindra Insurance Brokers (MIBL), for INR804.1 million (nearly $15 million).
Fosun backs RHJ acquisition of Deutsche's BHF unit
China's Fosun Group is supporting RHJ International in its latest attempt to buy BHF, a leading German private bank, from Deutsche Bank. For Fosun, it represents an opportunity to secure a presence in the eurozone’s largest economy.
Blackstone ups Financial Technologies stake to 6%
The Blackstone Group has increased its stake in financial services company Financial Technologies India to more than 6% through open market transactions.
Creation Investments leads $6.4m Sonata Finance round
Sonata Finance, an Indian microfinance institution (MFI), has raised INR350 million ($6.4 million) in a Series D financing round led by Chicago-based Creation Investments. Promoter Anup Kumar Singh and two existing investors in the company - family office...
Temasek, Bain in race for TPG's Shriram Transport stake - report
Temasek Holdings, Bain Capital and Piramal Group, a conglomerate run by Ajay Piramal, are reportedly leading the race to acquire TPG Capital's 20% stake in Shriram Transport Finance Corp (STFC), one of the leading commercial vehicle lenders in India....
Carlyle, Multiples back South Indian Bank
The Carlyle Group and Multiples Alternate Asset Management have participated in a qualified institutional placement (QIP) for South Indian Bank, which raised INR4.4 billion ($80 million) from eight investors.