Ascendent Capital
Ascendent bids $1.6b for China's Hollysys Automation
Ascendent Capital Partners has joined the battle for Hollysys Automation, a US-listed Chinese provider of industrial automation and rail transportation solutions, by submitting a bid that values the business at USD 1.6bn.
Asia GPs see reversion to norm on deal flow, valuations
Asia-focused buyout managers pointed to a return to a version of normality – with an anticipated upturn in investment and exits – in 2023 at the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia forum.
Ascendent abandons China education take-private
A consortium led by Ascendent Capital Partners has abandoned its planned $230.6 million take-private of Tarena International, a China-based provider of adult professional and K-12 education services.
Ascendent founder's SPAC to merge with Tim Hortons China
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has agreed to merge with PE-backed Tim Hortons China at a valuation of $1.8 billion.
Portfolio: GL Capital & SciClone Pharmaceuticals
GL Capital has helped China’s SciClone Pharmaceuticals position itself for the future while continuing to monetize its key legacy drug. A Hong Kong listing was the reward
PE-backed SciClone achieves $1.6b market cap on HK re-listing
SciClone Pharmaceuticals, a Chinese drug developer privatized by a PE consortium at a valuation of $605 million in 2017, has relisted in Hong Kong and ended its first day of trading with a market capitalization of HK$12.7 billion ($1.64 billion).
GPs & SPACs: Filthy lucre?
The global SPAC craze is percolating into Asia, with private equity firms among the sponsors. LPs aren’t necessarily comfortable with the development, but there’s only so much they can do about it
Fundraising talent: New calls of duty
The trend toward more stringent due diligence in recent years has maximized fundraising complexity at a time when the professionals involved must adapt to unfamiliar virtual forums
AVCJ Awards 2020: Fundraising of the Year - Mid Cap: Ascendent Capital Partners
A $500 million investment in Wumart is the exception rather than the rule for Ascendent Capital Partners’ third China fund, but the digital transformation theme is a constant
Ascendent founder sponsors SPAC targeting global deals
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has raised $300 million for global consumer technology investments.
Ascendent invests $500m in Chinese supermarket retailer
Ascendent Capital Partners has made by far its largest investment to date, committing $500 million to Chinese supermarket retailer Wumart ahead of a planned Hong Kong IPO.
Macro, geopolitical concerns not deterring China exits
Private equity investors are seeing significant IPO and exit activity out of China despite macroeconomic and geopolitical uncertainty arising from COVID-19 and China-US tensions, respectively.
Ascendent to exit China dairy player through $240m trade sale
Ascendent Capital Partners has agreed to make a full exit from Chinese dairy producer Ningxia Harmony Dairy Development with New Hope Dairy set to buy the business for an enterprise valuation of RMB1.7 billion ($240 million).
Ascendent surpasses $1b for latest China fund
Ascendent Capital Partners has closed its third China fund with more than $1 billion in commitments, having increased the hard cap.
Women in PE: Mind the gap
Gender diversity within private equity is an increasing priority for LPs and GPs alike. Addressing problems around the recruitment and retention of women requires fundamental changes in culture and mindset
Ascendent reaches $700m first close on third China fund
Ascendent Capital Partners has reached a first close of approximately $700 million on its third China fund, which will follow the existing strategy of building a relatively concentrated portfolio of minority and control investments.
Ascendent backs $197m take-private for China Automation
Ascendent Capital Partners has joined Xuan Ruiguo, the chairman and founder of Hong Kong-listed industrial control systems maker China Automation Group, in a take-private offer that values the company at HK$1.5 billion ($197 million).
China investment: Looking up in a downturn
Private equity firms that held back from investing in 2018 as uncertainty gripped China’s economy now see reasons to get busy again. With few macro tailwinds, GPs will be judged on their ability to pick winners
Ascendent sets $800m target for third China fund
Ascendent Capital Partners is seeking $800 million for its third China mid-market fund. The GP closed its previous vehicle at $600 million in 2015.
Co-founder of Chinese GP Ascendent to leave firm
Kevin Zhang, one of the two co-founders of Chinese middle market private equity firm Ascendent Capital Partners, is retiring from the firm. He is understood to be planning to establish his own family office.
Newly listed Chinese education business hit by abuse claims
RYB Education, a private equity-backed Chinese kindergarten operator that listed in New York two months ago, has seen its stock price collapse in response to child abuse claims.
Ascendent-backed RYB Education gains 40% on US debut
Chinese kindergarten operator RYB Education closed up 40% on its first day of trading in New York following a $144.3 million IPO. Ascendent Capital Partners made a partial exit through the offering.
Ascendent-backed RYB Education files for US IPO
RYB Education, a Chinese kindergarten operator in which Ascendent Capital holds a substantial minority stake, has filed for an IPO on the New York Stock Exchange.
GPs back $605m take-private of China's SciClone pharmaceuticals
CDH Investments and Ascendent Capital Partners have teamed up with GL Capital and a Bank of China investment unit in a $605 million bid for US-listed Chinese drug developer SciClone Pharmaceuticals.