Sectors
KKR seeks investors to expand India NBFC
KKR is in talks with overseas investors to infuse capital into its non-banking financial company (NBFC) in India, KKR India Financial Services.
GCS sees Dexia asset management deal collapse - Update
GCS Capital's EUR380m ($503 million) bid to acquire the asset management arm of Dexia collapsed yesterday after the Franco-Belgian bank said the Hong Kong PE firm had been unable to pay for the deal.
GE Energy invests $42m in India hydro-electric project
GE Energy Financial Services India has committed INR2.5 billion ($42.5 million) to a hydro-power project in north-east India operated by Gati Infrastructure (GIL). The investment was made through a share subscription agreement, for an undisclosed stake.
China’s Car Clubs rental service secures Series A financing
Hangzhou-based Incapital and government-owned Tobon VC have provided a Series A round of funding for Car Clubs, a Chinese car rental service operator. Details of transaction were not disclosed but it is said to be in excess of RMB10 million ($1.6 million).
INCJ invests $27m in Japan patent fund
Government-backed Innovation Network Corporation of Japan (INCJ) has invested JPY2.75 billion ($27.8 million) in a fund that will buy unused patents and license them to domestic start-ups.
China Merchants sells stake in NTong Technology
The direct investment arm of China Merchants Group plans to sell its entire 12.34% stake in NTong Technology to Shenzhen-listed Unisplendour Corporation (UNIS), for RMB86.36 million ($14.07 million). The proposed deal values the company at about RMB700...
Japan's ACA targets $100m for domestic IT fund
Japanese buyout firm Asian Capital Alliance (ACA) is targeting $100 million for a new fund focused on businesses in the domestic information and communications technology space.
China banking reform: Share the wealth
China's first step in interest rate liberalization might herald a series of reforms that make financial services more market-oriented. But where does shadow banking fit into it?
Deal focus: Affinity agrees chaebol restructuring carve-out
Apple iTunes store has a library of more than 26 million songs, a presence in 119 countries and revenues of $12.9 billion in 2012. Its US market share is around 63%.
VCs back India SME group-buying service
Despite there being around 47 million small- and medium-sized enterprises (SMEs) in India, the segment has not yet participated in the country's e-commerce boom. While 51% of online SMEs use the internet to advertise, a mere 27% use it for trade, according...
PE and China's financial sector flaws
The liquidity squeeze engineered by China's central bank in June, which temporarily made it more expensive for commercial banks to lend money to one another, was generally regarded as an effort to remind said banks about the importance of solid asset...
Portfolio: CLSA Capital Partners and Indonesia's Sari Wangi
Sari Wangi is Indonesia's largest private tea player. CLSA Capital Partners invested not so much for exposure to the crop as what the company offers as a platform for distributing agricultural technology.
PE-backed OzForex considers IPO - report
OzForex, an Australian online foreign exchange platform backed by The Carlyle Group, Accel Partners and Macquarie Group, is said to be considering an IPO that could raise around A$500 million ($643 million).
China Molybdenum beats strategics, PE to Rio Tinto copper mine stake
China Molybdenum (CMOC) has fought off competition from PE and strategic investors to acquire an 80% stake in Rio Tinto's Northparkes copper mine in Australia for $820 million.
Malaysia's Khazanah in Turkish insurance buyout, Abraaj exits
Malaysian sovereign wealth fund Khazanah Nasional has agreed to pay $252 million for a 90% stake in Turkish health insurer Acibadem Sigorta. The investment facilitates the exit of The Abraaj Group, which held a 50% stake in the business.
China CYTS Tours buys back Wuzhen stake from IDG
IDG Capital Partners has existed Tongxiang Wuzhen Tourism Development to the investee’s parent company, China CYTS Tours Holding, for $67.5 million. The PE firm bought about a 16% stake for $6.47 million in 2009, implying a 10.4x return on its investment.
Mahindra Lifespace, Standard Chartered form real estate JV
Mahindra Lifespace Developers (MLD), an Indian real estate and infrastructure developer, and SCM Real Estate (SCM), a Singapore-based investment arm of Standard Chartered bank, have formed a joint venture to develop residential projects in India. The...
China’s Baifendian secures $10m Series B round
Baifendian, a Chinese recommendation engine that tracks user tastes and predicts how they might rate items, has received $10 million in Series B financing from Zhejiang Shinkansen Media Investment via its Eastern Starry Sky Culture Fund.
Zennon, New World invest $25m in China games developer CMGE
Zennon Capital Partners and New World Strategic Investment (NWSI) have invested $25 million in NASDAQ-listed China Mobile Games and Entertainment Group (CMGE).
CLSA Capital backs India’s Luminous Water Technologies
CLSA Capital Partners (CLSACP) has invested INR 550 million ($9.2 million) in water-purifier maker Luminous Water Technologies (LWT) from its ARIA Investment Partners IV fund.
Nissay Capital backs Japanese online ad platform Dennoo
Nissay Capital has invested $1.1 million in Japanese online ad platform, Dennoo. The investment brings the start-up's total amount of venture capital funding to $3.1 million.
Japan's Meiji Yasuda beats PE to Thai Life stake
Japan’s Meiji Yasuda Life Insurance has agreed to buy a 15% stake in Thai Life Insurance for an undisclosed sum, thought to be in the region of $750 million. Other participants in the auction reportedly included the Carlyle Group, KKR and CVC Capital...
DCM targets $250m for China VC fund
DCM is seeking $250 million for its latest China-focused fund. The target for Venture China Fund VII is less than the $400 million raised for DCM's previous vehicle, which invests in China, the US and Japan.
Multiples buys ICICI Venture's stake in Vikram Hospital
Multiples Alternate Asset Management has bought a 64% stake in Bangalore-based Vikram Hospital from ICICI Venture Funds Management, and also infused direct capital for debt repayment.