Financials
New China Life plans IPO
Private equity-backed New China Life is the latest financial behemoth in the PRC to eye a public debut, targeting an up-to $4 billion raise via a duel listing on the Shanghai and Hong Kong exchanges by the end of the year.
Korean consumer lender A&P wins Takefuji
The ongoing bidding process for collapsed Japanese consumer lender Takefuji has officially ended with Korean industry peer A&P Financial besting rival suitors to acquire the debt-burdened asset.
D.E. Shaw, Reliance Industries launch financial services JV
Global hedge fund D. E. Shaw and Indian power major Reliance Industries Limited have linked to form a domestic financial services JV.
Leopard Cambodia Fund invests in advisory firm
Southeast Asian emerging market PE investor Leopard Capital has injected $1 million from its Cambodia Fund LP into an unnamed professional advisory firm that “provides legal and tax advisory services to clients throughout Southeast Asia.”
Carlyle sells OIL to European PE firm
The Carlyle Group has sold its portfolio asset Offshore Incorporations Group (OIL), a holding group specializing on the set up of offshore corporations, to European PE firm IK Investment Partners for an undisclosed price.
Standard Chartered takes stake in Indian exchange
Standard Chartered has acquired a 3% stake in India’s youngest stock exchange, the United Stock Exchange (USE), coming as the first overseas banking holder in the outfit.
India-Japan cross-border insurance deal
Reliance Capital-owned Reliance Life Insurance is to sell a 26% stake to Japan’s largest life insurer, Nippon Life Insurance, for $680 million. The deal has been touted as the largest foreign direct investment in India’s insurance space, and values Reliance...
CalPERS reports double-digit gains in 2010
The California Public Employees’ Retirement System (CalPERS) posted 12.5% net returns on investments for the 2010 calendar year, reaching $225.7 billion in assets according to the group.
MBK may partner with Hana for KEB
MBK Partners, the Korean buyout firm, has reportedly proposed investing KRW1 trillion ($891.6 million) to help Hana Financial Group to buy a controlling stake in Korea Exchange Bank (KEB), according to the Korean Times.
Goldman Sachs reorganizes private equity group
After its much-publicized run in with the SEC in July and as part of a wider push for transparency among US banks, Goldman Sachs has put forward a proposal that will more clearly divide its activities to ensure that its investments are separate from the...
AIG to sell Nan Shan to Taiwan's Ruen Chen
Months after the $2.15 billion sale of Taiwan’s Nan Shan Life Insurance to a PE-backed consortium including China Strategic Holdings and Primus Financial Holdings was rejected by regulators – with the questions regarding the companies’ long-term commitment...
Headland becomes a test case for post-bank spinout PE funds
One of the most closely watched of the new wave of private equity team spinouts from major banks has completed with the announcement that the management team who led HSBC Private Equity Asia have now completed their separation from parent HSBC with the...
HSBC makes new debt appointments for Asia Pacific
HSBC has announced two new senior appointments in its Asia Pacific Debt Capital Markets (DCM) team, with the appointment of Mark Mallia as Head of Debt Syndicate, Asia-Pacific, while Sean Henderson, previous incumbent in the role, will move to Australia...
Macquarie hires Hassen from Irving Place for oil and gas
Macquarie Group has announced the hire of Thomas Hassen, previously Vice Chairman of New York-headquartered mid-market private equity firm Irving Place Capital, as its Chairman of Global Oil and Gas Banking.
Macquarie, Forum commit to Crescent Australia investee Bluestone
Macquarie Bank is to acquire around 17.5% of Australian capital and asset management business Bluestone Group, already invested by Crescent Capital Partners, while real estate investment firm Forum Partners is refinancing some A$20 million ($19.2 million)...
JC Flowers, GIC may team up for Brazil: reports
JC Flowers & Co., the US buyout firm associated with iconic Asian deals such as Shinsei Bank, and the Government of Singapore Investment Corporation (GIC) may be teaming up to take a 15% stake in Brazilian lender Banco BTG Pactual SA for around $1.5 billion,...
BNY Mellon appoints new GM and country head for Japan office
BNY Mellon, the New York-headquartered asset management and securities house, has appointed Thom Fisher as General Manager of the company's Tokyo Branch and Country Executive for Japan.
Vogo takes control in Korea's Tong Yang
Vogo Fund, a leading private equity firm in South Korea, has acquired an additional 46.5% stake in Tong Yang Life Insurance from mid-sized local conglomerate Tong Yang Group for KRW900 billion ($798 million).
KEB late entry bidder: Hana
Lone Star Funds' long-drawn-out exit from Korea Exchange Bank (KEB) appears to be finally drawing to a close with the late submission by Hana Financial Group of its bid in the auction of the full 57.27% stake held by Lone Star Funds and the Export Import...
Carlyle, Accel invest OzForex
The Carlyle Group and Accel Partners have made a joint investment into OzForex Group, an Australian-originated online foreign exchange payments platform, for an undisclosed amount, seeking to support the company's expansion into Asian and Western markets....
Bery, JPMorgan reach amicable conclusion
JPMorgan and Varun Bery have jointly announced that they have reached an amicable resolution to their recent dispute, which will result in the latter providing private equity consultancy services to JPMorgan.
Paul Calello, Credit Suisse Investment Bank Chairman, dies at 49
Paul Calello, Chairman of the Investment Bank of Credit Suisse and the former CEO of Credit Suisse in Asia Pacific, died in New York of non-Hodgkin’s Lymphoma on Tuesday, November 16th. He was 49.
ANZ, Hana squareoff over KEB confirmed
Sources close to the process confirmed to AVCJ that Australia and New Zealand Banking Group (ANZ) is still engaged in due diligence for the full 57.27% stake in Korea Exchange Bank (KEB) held by Lone Star Funds and the Export Import Bank of Korea, and...
AIG seeks Nan Shan sale after Primus lapse: reports
US insurance giant American International Group (AIG) is looking to sell its Taiwanese arm Nan Shan Life over the next two months for around $2 billion, according to local reports.