Infrastructure
India cleantech: Expansion time
PE-backed companies have carved out a sizable share of India's nascent renewable power production sector, particularly in the wind space. The quickest to scale up will gain a competitive advantage
The Asia real assets story
It is difficult to tell whether Asia is at the beginning of a real assets story or negotiating a transition phase somewhere around the middle. "Real assets" is such an all-encompassing term, taking in everything from forestry to energy to real estate,...
AMP Capital reaches first close on second infra debt fund
AMP Capital has reached a first close of more than $300 million on its latest infrastructure debt fund. The vehicle has a full target of around $1 billion, roughly twice the size of its predecessor, which closed to new investors in June of last year....
American Capital infra unit hires ex-Citi banker as Asia MD
American Capital Energy & Infrastructure (E&I), an affiliate of NASDAQ-listed private equity firm American Capital, has appointed Abhay Pande as managing director for Asia. He was formerly co-head of energy global banking in the region for Citigroup....
CPPIB, Goodman inject another $500m into China logistics venture
Canada Pension Plan Investment Board (CPPIB) and Australian property and logistics firm Goodman Group have increased the equity commitment to their China joint venture, putting in another $500 million. A contribution of the same size was made last August,...
AMP Capital pays $409m for Powerco NZ stake
AMP Capital has agreed to buy 42% of Powerco NZ Holdings, New Zealand’s second largest electricity and gas distribution company, from Brookfield Infrastructure Partners for NZ$525 million ($409 million). It is investing on behalf of several clients and...
Cerberus fails in challenge to Seibu board
Cerberus Capital Management failed to its attempt to assert more control over the management of railway and property group Seibu Holdings, as shareholders voted down the PE firm's plan to secure more board seats.
India's IL&FS, IDFC see 2.6x return on gas distributor exit
IDFC Private Equity, the Asian Development Bank (ADB) and a subsidiary of IL&FS Investment Managers have sold their stake in Central UP Gas (CUGL) in a strategic sale to Indraprastha Gas. The investment generated a gross IRR of 17% and a money multiple...
Northern Lights, Nereus Capital bolster India clean energy
Nereus Capital has received $100 million in commitments from Northern Lights Capital Group and the US Agency for International Development (USAID) for its $250 million India Alternative Energy Fund (IAEF).
Cerberus challenges Seibu management ahead of annual meeting
Cerberus Capital Management has publicly questioned the management of railway and property group Seibu Holdings in a bid to gain support for its shake up of the company's board at a shareholders meeting later this month.
CapVent taps into Indian water market
Access to potable water is limited in India with groundwater in one-third of the country’s 600 districts tainted by high levels of fluoride, iron, salinity and arsenic. Meanwhile, tap water is mostly undrinkable.
Navis plugs into Southeast Asia energy demand
Southeast Asia's hunger for energy cannot be overstated. Of the region’s 600 million inhabitants, a staggering 160 million live without electricity. According to a report published last year by the National University of Singapore’s Energy Studies Institute,...
Apollo exits Welspun Maxsteel stake to promoter
Apollo Global Management has sold a 12.5% stake in India’s Welspun Maxsteel Limited (WMSL) to parent company Welspun Corp at a 30% discount to the fair market value. It’s the second part of a larger INR22.5 billion ($502.9 million at the time) deal between...
GIC in $50m partial exit from India's Adani Ports
Government of Singapore Investment Corporation (GIC) has sold part of its 1.78% stake in India’s Adani Ports & Special Economic Zone (APSEZL) for INR2.9 billion ($50.6 million).
IFC to lend $70m for Everbright Chinese water project
International Finance Corporation (IFC), the investment arm of the World Bank, will lend $70 million to China Everbright International to build three water plants in China.
Global investors to boost alternatives exposure – survey
Institutional investors expect to increase allocations to alternatives in 2013, with focus on real assets such as infrastructure and property, according to a survey by AMP Capital.
Tata Capital to buy minority stakes in Tata Sky, infra assets
Tata Capital’s Tata Opportunities Fund (TOF) is in the process of buying minority stakes in direct-to-home (DTH) TV provider Tata Sky and TRIL Roads.
Time to switch over: India's television market
The digitization of the Indian TV industry should deliver a more transparent system and an effective subscription model. PE firms can help with the infrastructure investment required to get there.
AsiaInfo-Linkage finally accepts CITIC-backed MBO offer
Chinese telecom software provider AsiaInfo-Linkage has accepted a take-private offer from CITIC Capital Partners that values the company at approximately $890 million. The initial offer was made last January but has taken the AsiaInfo board about 16 months...
Abraaj exits Thailand's Unitrio to Japan's NTT
The Abraaj Group has exited Thailand-based data center provider Unitrio Technology to NTT Facilities (NTTF), a unit of Japan's Nippon Telegraph and Telephone Corporation (NTT).
Profile: American Capital's Paul Hanrahan
After 20 years at energy and infrastructure specialist AES Corporation, Paul Hanrahan now covers a similar beat for PE firm American Capital. He reflects on what has changed and what hasn't
Temasek sets up dedicated LNG investment unit
Temasek Holdings has set up an investment unit dedicated to liquefied natural gas (LNG) assets. The move comes as the Singaporean sovereign wealth fund seeks to increase its energy exposure – as also evidenced through recent PE investments – in recognition...
India's Zephyr Peacock buys 25% of pre-fab buildings maker
Zephyr Peacock India has bought a 25% stake in Pennar Engineered Building Systems (PEBS) for INR500 million ($9.19 million).
AMP Capital increases stake in Australia Pacific Airports
AMP Capital has increased its stake in Australia Pacific Airports Corporation (APAC) to 43% after exercising its preemptive rights to acquire an additional 3.5%.