Financials
AIG looks to SWFs, PE for AIA pre-IPO stakes
Still-troubled US insurance giant AIG has approached Temasek Holdings and other - chiefly MENA - SWFs, as well as private equity firms and Chinese institutions to offer pre-IPO stakes in its Asian subsidiary AIA, according to reports.
New York Pacific Capital to raise RMB1 billion fund
US merchant banking player New York Pacific Capital is to raise an RMB1 billion ($147.6 million) private equity fund based out of Beijing, focused on investments into high-growth PRC companies across the healthcare, clean tech, education, culture and...
Piper Jaffray hires Teo for Hong Kong
US specialist investment banking and securities firm Piper Jaffray has announced the hire of KB Teo, previously with Goldman Sachs, as its new head of technology, media & telecommunications (TMT) and cleantech for Asia, based in Hong Kong.
MBK KEB bid status in doubt
MBK Partners' bid for the 51% stake in Korea Exchange Bank owned by Lone Star Funds is in doubt following conflicting reports from Korea, with some media indicating that the buyout firm has failed to put together an acquisition consortium, and others...
Taiwan gives Nan Shan bid final review
Taiwanese officials are reportedly making their final determinations in deciding the fate of AIG’s local arm Nan Shan Life Insurance, the $2.15 billion acquisition target of a consortium led by China Strategic and Primus Financial Holdings.
Unifi Capital buys back its stake from Peepul Capital
Indian PE firm Peepul Capital has sold its stake in Chennai-based wealth management group Unifi Capital back to the company, reporting approximately 7x return on its initial $1 million investment.
Hana in line for Woori, may target KEB
Hana Financial Group, Korea's fourth-largest lender, has emerged as the sole current contender for Woori Financial Group, with the Blackstone Group apparently not putting forward its expected bid, though Hana has said it also may consider a bid for Lone...
Japan's SBI boosts PE investments in Brazil
SBI Holdings, Inc., the Japanese financial group operating in various segments, including private equity and venture capital, said that it has agreed with Jardim Botânico Investimentos (JBI), a Brazilian asset management company, to jointly form a fund...
IFC may take 20% of microfinance firm Ananya
Indian microfinance firm Ananya Finance For Inclusive Growth is looking to raise $32 million in an effort to grow its operations, and may receive nearly 30% of that target from the World Bank’s International Financial Corporation (IFC), according to local...
IFC, JBIC make joint PNG bank investment
The International Finance Corporation (IFC), the World Bank Group's private finance arm, and IFC Capitalization Fund, a $3 billion fund set up by IFC and the Japan Bank for International Cooperation, have jointly invested around $110 million in Bank South...
Palamon, Morgan Stanley, AlpInvest get Oz cards spinout exit
Palamon Capital Partners, Morgan Stanley Alternative Investment Partners and AlpInvest Partners have picked up A$353 million ($319 million) from the sale of the Australian operations of their joint investee Retail Decisions, a card payment-processing...
Woori auction to be managed by three investment banks
Two Korean investment banks and one foreign player are expected to be selected to manage the 6.7 trillion won ($5.7 billion) auction for the government’s 57% stake in Woori Financial Holdings, the country's third-largest banking group that will undergo...
Baring India, Matrix back Muthoot Finance
Baring Private Equity Partners India and Matrix Partners India have jointly committed some INR157 crore ($33.6 million) to Muthoot Finance Ltd., a leading Indian non-bank financial company, in its first institutional funding round.
CIC sees $41.66 billion net profit, denies Central Huijin spinout
China Investment Corp, the country's leading SWF, reportedly increased its net profit last year to $41.66 billion, up from $23.1 billion in 2008, 11.7% of it made from offshore investments.
Primus-backed EON sets vote date for Hong Leong bid
Primus Pacific Partners-backed EON Capital Bhd., a Malaysian lender, has been given until August 19 to decide on its acquisition by Hong Leong Bank, which launched a $1.6 billion bid for the company.
Angel Broking seeks PE capital
Indian stock broking and wealth management firm Angel Broking has reportedly approached private equity firms to raise $64 million through the sale of a minority stake.
CIC sells $138 million Morgan Stanley shares, seeks hires
China Investment Corporation (CIC), China's leading SWF, sold $138.5 million worth of Morgan Stanley shares last week, according to a filing with the US SEC, as it seeks to recruit up to 64 new personnel.
ANZ back in KEB frame?
After a stop-and-go involvement in the auction of Lone Star Funds' 51% stake in Korea Exchange Bank, which included a statement earlier this month that it was not considering any deals at all, Australia and New Zealand Banking Group (ANZ) may now be about...
Industry Q&A: Hu Zhanghong, CEO, CCB International
AVCJ spoke to Hu Zhanghong, CEO of CCB International, the asset management and private equity arm of the major PRC banking group, who discussed opportunities in Greater China and the role of RMB funds
Gung-ho for Kyobo as buyout firms assess stake
Potential private equity buyers, specifically Affinity Equity Partners and the Carlyle Group, are doing due diligence on a potential 24% significant minority stake opportunity in Kyobo Life Insurance Co., Korea’s third-largest insurer and second-largest...
Carlyle, Affinity assessing Kyobo Life stake - reports
The Carlyle Group and Affinity Equity Partners are conducting due diligence on Kyobo Life Insurance Co., one of Korea's top three life insurance players, according to Korean reports, with a view to picking up a 24% stake in the business estimated at up...
CVC's Leung, Kuan join Sun Hung Kai board
CVC Capital Partners has announced that Francis Leung, the firm's Chairman for Greater China, and William Ho, its Partner, have joined the board of investee Sun Hung Kai Financial as non-executive directors, with Managing Partner and Head of Asia Roy...
Shan's Pacific Alliance bidding for AIA?
Hong Kong-headquartered private equity firm Pacific Alliance Group (PAG) is leading one of four PRC-backed consortia that have approached AIG over the possible acquisition of its Asia division AIA, which is on the market again following Prudential's failed...
Morgan Stanley private equity supremo Trevor leaves
Stephen Trevor, co-head of Morgan Stanley Investment Management and hired in 2006 to head up the new private equity business within the division, is stepping down alongside co-head Stuart Bohart.