Financials
Bain, KKR, TPG may get CICC from MS
Bain Capital, Kohlberg Kravis Roberts & Co. and TPG Capital are reportedly on the shortlist for the final round of bidding for Morgan Stanley’s $1 billion+ stake in PRC investment bank China International Capital Corp. (CICC).
IDG India invests iCreate
IDG Ventures India has made a $3.23 million Series A round VC investment in iCreate Software, a Bangalore business intelligence software company.
Woori PE might sell big Kumho Investment stake
Woori Private Equity, the private equity arm of Seoul-headquartered local lender Woori Bank, is reportedly planning on selling its 41.4% share of Kumho Investment Bank, a wholly-owned subsidiary of Kumho Asiana Group, the troubled South Korean conglomerate....
Khazanah may make Great Eastern play
Malaysian state-owned investment agency Khazanah Nasional Bhd may be preparing to take an up to 30% stake in Great Eastern Life Assurance (Malaysia) Bhd.
CVC AP, MBK may be in Korea Pru bid
Pan-regional private equity funds CVC Asia Pacific and MBK Partners reportedly may be among the four or five shortlisted bidders for Prudential Asset Management and Prudential Investment & Securities, the Korean units of Prudential Financial Inc. now...
KDB eyes Siam City Bank
Korea Development Bank (KDB), South Korea's state-owned bank and private equity investor, has emerged as one of the potential bidders for Siam City Bank, the seventh largest bank in Thailand, which is 47.6% owned by the Thai government.
Bidder may form fund to buy Prudential assets
US life insurance and asset management company Prudential Financial Inc. is seeking buyers for its Korean subsidiaries, Prudential Asset Management and Prudential Investment & Securities, with four or five bidders apparently participating in the auction,...
US BBH deploys partner to Hong Kong
Brown Brothers Harriman & Co (BBH), a US private bank offering specialist private equity services, will relocate its senior partner Andrew J. F. Tucker to Hong Kong in order to develop business in Asia.
T. Rowe Price takes UTI Asset stake
Baltimore-headquartered $366.2 billion mutual fund giant T. Rowe Price Group has picked up 26% of UTI Asset Management, India’s fourth largest asset manager, and UTI Trustee Company for $142.4 million, making it the company’s single largest shareholder....
KDB digs into Kumho
South Korea’s state-owned Korean Development Bank (KDB), will take a 50 % plus 1 share stake in Daewoo Engineering and Construction Co., for KRW2.9 trillion ($2.5 billion) through its private equity fund, under the workout program for the distressed...
Uncertainty over Shinsei/Aozora merger
Buyout fund-controlled Japanese lenders Shinsei Bank and Aozora Bank may reportedly delay their planned merger, due to numerous problems, such as difficulty integrating systems and differentiation of their separate operations.
Primus looks at EON exits
Primus Pacific Partners is in the frame to exit its 20.2% stake in Malaysia’s EON Capital as local peer Hong Leong Bank reportedly is negotiating with other shareholders to acquire the bank.
Jacob Ballas, NEA, team on FSS deal
Jacob Ballas Capital India and US VC major New Enterprise Associates have reportedly teamed up to invest $60 million in Chennai-based electronic payments player Financial Software & Systems Ltd., for around 40% of the company.
KKR may go to the Max
Kohlberg Kravis Roberts & Co. reportedly may commit up to $117 million into Max India Group, the investment holding company of healthcare and insurance entrepreneur Analjit Singh.
China Pacific raises $3.1 billion as Hopu anchors Carlyle exit
The Hong Kong IPO of China Pacific Insurance raised $3.1 billion in the world’s seventh largest listing of 2009, securing roughly a 5x profit for the Carlyle Group on its total investment of around $800 million between 2005 and 2007.
China giants put their best fund forward
Amid unparalleled interest in the evolution of China’s domestic private equity environment, two major PRC financial institutions have announced progress in forming their own private equity funds.
Japan's monster new LP
The tentative merger of Sumitomo Trust & Banking Co. and Chuo Mitsui Trust Holdings Inc., will power up their private equity allocations in Japan after both banks consolidate assets to create the largest trust bank in Japan.
AXA Taikang sale hits delays
The proposed c.$1 billion auction of AXA’s 15.6% stake in PRC insurance major Taikang Life, which has already apparently attracted the interest of the Blackstone Group, Kohlberg Kravis Roberts & Co., and Temasek Holdings, has reportedly been postponed....
Bain, GA, KKR cited in CICC stake bidding
Kohlberg Kravis Roberts & Co. has been named as a potential bidder for the 34.3% stake in leading PRC investment bank China International Capital Corp. (CICC) held by Morgan Stanley.
China Pacific IPO priced at $3.6 billion
The IPO of China Pacific Insurance, the country’s third largest life insurer and 17.3% owned by the Carlyle Group, is set to raise as much as HK$28 billion ($3.6 billion) in Hong Kong.
Carlyle ensures major exit with China Pacific
Carlyle Group-backed China Pacific Life Insurance Co., the Number Three Chinese domestic insurer, is planning to debut on the Hong Kong Stock Exchange with approval from the Chinese government, targeting to raise $3.4 billion, before Christmas 2009.
Taiwan stops Nan Shan deal – temporarily?
Taiwanese regulators have turned down an application from the consortium of Primus Financial Holdings and Hong Kong-listed China Strategic Holdings Ltd., to complete its winning bid for Nan Shan Life Insurance, the Taiwan unit of ailing US insurer American...