Sectors

PE-backed AAG Energy pulls Hong Kong IPO

Asian American Gas (AAG) Energy, a Chinese natural gas producer backed by Warburg Pincus and Baring Private Equity Asia (BPEA), has postponed its Hong Kong IPO due to challenging market conditions. The company started pre-marketing for the up to $200...

Khazanah in $356m exit from AIA

Khazanah Nasional, the Malaysian sovereign wealth fund, has exited its entire holding in Hong Kong-listed AIA Group, raising HK$2.76 billion ($356 million). The sale comes as the lockup on American International Group’s stake in the Asia-focused insurance...

Blackstone to launch Asia real estate fund

The Blackstone Group is launching an Asia real estate fund to capitalize on what Tony James, the firm’s president, described as a “golden moment” to engage in property market investment.

MSPEA in convenience store carve-out

HI-24 is every bit the orphan subsidiary. Last year the Chinese convenience store chain's parent company changed its name to China Financial Services Holdings (CFSH), confirming a strategic rethink already apparent from its acquisitive activity. Once...

Abraaj exits Thai hospital with 3x return

Of the 19 million tourists who visited Thailand in 2011, an estimated 500,000 traveled specifically for medical care. Although medical tourism only accounts for 0.4% of national GDP, the industry is growing at an annual rate of 16% and is expected to...

Asia Awards: VC Deal of the Year – Xiaomi

The hugely successful launch of Xiaomi’s smart phone, and the subsequent $216 million Series C round, justified Morningside Technologies and Qiming Venture Partners’ early faith in the Chinese company

Asia Awards: Exit of the Year – King's Safetywear

Navis Capital Partners' acquisition of King’s Safetywear in 2008 didn’t happen at an opportune time. One week after the firm completed its $62 million take-private deal and de-listed King’s from the Singapore Stock Exchange, Lehman Brothers collapsed...

Cleantech: Moving beyond subsidies
Cleantech: Moving beyond subsidies

With its reputation for lackluster returns and dependence of government support, investors have shied away from cleantech, but GPs are bullish about its ability to stand on its own feet

GCS Capital in talks to buy Dexia asset management unit

GCS Capital, a Hong Kong-based private equity firm, is in exclusive talks to buy Dexia’s asset management arm. It is estimated that the deal could be worth EUR500 million, lower than the EUR750 million Dexia was reportedly seeking when it put the asset...

Boyu invests in Hong Kong retailer Stelux

Boyu Capital has invested in Stelux Holdings through a subscription for HK$371 million ($47.8 million) of convertible bonds issued by the Hong Kong retailer. As part of the deal, CEO Joseph Wong said he planned to nominate Boyu’s Mary Ma and Alex Wong...

Goldman Sachs in partial exit from Geely

Goldman Sachs has sold 600 million shares of Hong Kong-listed Geely Automobile Holdings in a deal worth $254 million. The shares were divested after the private equity investor exercised a combination of convertible bonds and warrants.

CHAMP-backed Shelf Drilling completes $1b acquisition

Shelf Drilling, the Dubai-based shallow water drilling services company backed by Australia’s CHAMP Private Equity, its US affiliate Castle Harlan, and Lime Rock Partners, has completed the acquisition of assets worth $1.05 billion. The PE investment,...

IDFC PE's Parag Milk Foods seeks to double capacity

Parag Milk Foods, the Indian dairy company that received a INR1.55 billion ($28.7 million) investment from IDFC Private Equity in September, plans to double its capacity by expanding existing production plants and setting up new facilities. It currently...

Tata Capital acquires stake in Pluss Polymers

Tata Capital has acquired a stake in Pluss Polymers for INR150 million ($2.7 million). The investment was made through the Tata Capital Innovations Fund and is intended to help the company, a specialized polymer maker, to further its R&D and manufacturing...