3i Asia Pacific
Indian infrastructure funds face rocky road ahead
Private equity has been one of the engines for India’s infrastructure growth, but delays in project approvals, inexperienced GPs and the tough fundraising environment remain hurdles to overcome
3i gives up Indian quoted equity plan
3i has dropped the plan to raise a dedicated fund aimed at purchasing stakes in India-listed companies due to a lack of interest from investors.
3i to appoint Simon Borrows as new chief executive
3i is set to appoint Simon Borrows as its new chief executive this week, replacing Michael Queen, who announced his resignation in March after spending three years as head of the company.
IDFC Project Equity to launch second infrastructure fund
IDFC Project Equity, a subsidiary of Infrastructure Development Finance Company (IDFC), will launch its second India infrastructure fund later this year.
3i chief Michael Queen resigns
UK-based private equity firm 3i Group has announced that its CEO, Michael Queen, will be leaving the company once a successor has been appointed. The move is thought be prompted by continuing shareholder discontent over poor performance and lack of deal...
China business leaders join 3i’s advisory board
3i Group has appointed two Chinese business leaders and one academic to its newly formed advisory board for the country. The new recruits are Frank Ning, chairman of food conglomerate COFCO, Dr Bing Xiang, founding dean of Cheung Kong Graduate School...
3i India invests $61m in Supreme Infrastructure
3i India will pay $61 million for a minority stake in a portfolio of four road companies held by Supreme Infrastructure India (SIIL), a Mumbai-based infrastructure company. The private equity firm will take a 49% stake in SIIL's subsidiary Supreme Infrastructure...
PE-backed Indian power companies plan solar plants
Adani Group, whose publicly listed power subsidiary is backed by 3i Group, has commissioned India’s largest solar power project in what is its first foray into the renewable energy sector. The project at Kutch in Gujarat has an initial capacity of 40...
India’s GVK to sell minority stake in Australian business
GVK Power & Infrastructure plans to sell a minority stake in its Australian unit in order to retire debts and fund operations. Private equity investors and strategic partners, working independently or in tandem, are seen as likely buyers.
PE Deal of the Year – Hyva
UNITAS CAPITAL’S BUYOUT OF DUTCH cylinder-maker Hyva earlier this year was a landmark private equity deal in that it was the first in Asia to be backed by a high-yield bond. Not only did the company’s $375 million bond issue set a precedent for other...
Southeast Asia takes on the neighbors
Southeast Asia is increasingly popular as an investment destination for private equity firms, but can it compete with China and India?
Asian infrastructure: Building blocks
There is no denying the potential for infrastructure investment in Asia. Although the policies and structures governing private equity involvement are improving, it remains difficult terrain.
Macquarie, SBI target second India infrastructure fund
Macquarie Group and State Bank of India (SBI) are targeting $1-1.5 billion for their second India-focused infrastructure fund. Plans for the new vehicle come as the first fund, SBI Macquarie Infrastructure Trust, which closed in March at $1.2 billion,...
Road operator Ashoka Buildcon seeks $150m
Indian roads and bridges operator Ashoka Buildcon has entered talks with potential private equity and strategic investors to raise $150 million to finance seven road projects.
India’s SREI targets $1b infrastructure fund
SREI Infrastructure Finance plans to raise a $1 billion private equity fund to invest in areas such as roads, power and ports.
India’s GVK considers PE funding for roads business
GVK Power and Infrastructure is considering private equity funding for its roads business. Isaac George, CFO of GVK, said in an earnings conference call that a couple of investors have already expressed an interest in the company’s transport business.
Women in private equity: Minority report
Private equity is a man’s world, in Asia and everywhere else. What can women on the inside do to bring about change?
3i names Paul Su senior partner in China
3i China has appointed Paul Su as a senior partner in Beijing, joining the firm after 10 years at Credit Suisse, where he was most recently managing director and vice-chairman of investment banking in Greater China.
Suntory to set up JV with Carlyle target GarudaFood
Indonesia’s GarudaFood plans to establish a soft drinks joint venture with Suntory, the Japanese corporate thought to have lost out to The Carlyle Group in the final round of bidding for a stake in the company. Suntory is looking to spend around $126...
Simon Borrows named CIO of 3i
UK-based 3i Group has appointed Simon Borrows, chairman of Greenhill & Co. International, to the post of chief investment officer, effective this fall. Borrows, who will take a seat on 3i’s board of directors, has a longstanding relationship with the...
Shareholders may vote to outst 3i CEO Michael Queen
The future of 3i Group CEO Michael Queen has been called into question after reports that the firm’s top investors may vote against his reappointment at a board meeting Wednesday. Investors are unhappy with Queen’s plan to reinvest capital that would...
3i Southeast Asia head Mark Thornton to exit firm
Mark Thornton, a founding member of 3i Group’s Southeast Asia team, is to depart the private equity firm for undisclosed reasons. 3i’s head of Asia Anil Ahuja will inherit Thornton’s duties and lead the firm's Singaporean and Indian businesses,...
Unitas completes landmark Hyva deal
Asian private equity firm Unitas Capital has completed the acquisition of Hyva Holdings B.V. from Europe’s 3i, for an enterprise value of EUR525 million ($761.5 million). The acquisition was partly financed through a high yield bond, marking the first...
Unitas takes over Dutch firm Hyva
Unitas Capital has completed its acquisition of 100% of Hyva Holdings B.V., the provider of transport solutions from European private equity firm 3i for EUR 525 million ($761.5 million). London-based 3i was believed to have paid EUR125 million ($160...