China
China outbound: More haste, less speed
Much is expected of Chinese private equity firms in terms of cross-border acquisitions in Europe and the US. While broader economic dynamics point to more deal flow, the GPs themselves are moving with caution
Bull Capital in $200m first close for second China fund
Bull Capital Partners has reached a first close of $200 million on its second China fund. The GP has also completed its first investment from the vehicle, backing Shanghai-headquartered used car business CarKing.
Fosun unit raises $960m China infrastructure fund
Xingjing Capital, an investment arm under Fosun Property, has raised a RMB6 billion ($960 million) infrastructure fund to invest in public private partnership (PPP) projects in China.
IDG commits $3m to Chinese weather data generator
IDG Capital Partners has acquired a 10% stake in Bloomsky, a subsidiary of China’s Andon Health which develops weather data sensors, for $3 million.
Crystal Stream leads $10m round for delivery start-up Lalamove
Crystal Stream Capital has led a $10 million for Lalamove, a Hong Kong-based mobile app for on-demand delivery services.
CVC returns $2b to investors from Asia deals in 2014
CVC Capital Partners returned $2 billion to investors from Asia-based investments in 2014 after completing three full or partial exits – which contributed $1 billion of the proceeds – in December.
China's CDH exits CNinsure via share buy-back
CDH Investments is exiting CNinsure, a China-based distributor of insurance products, after members of the management team agreed to buy back its stake for $54.1 million.
China's Wanda E-Commerce raises $160m
Wanda E-Commerce, a joint venture set up by China’s largest commercial property operator Wanda Group, Baidu and Tencent Holdings, has raised RMB1 billion ($160 million) from two offshore internet investment funds.
GGV leads $10m round for drone maker EHang
GGV Capital has led a $10 million Series A round for EHang, a Chinese consumer drone manufacturer.
L Capital Asia leads cornerstones for Asiaray Media's HK IPO
L Capital Asia, is participating as a cornerstone investor in Greater China out-of-home advertising company Asiaray Media Group’s Hong Kong IPO, which is targeting up to HK$772.2 million ($99.5 million).
Fosun consortium set to win battle for Club Med
A consortium led by Fosun International looks set to emerge victorious from the long-running battle for Club Méditerranée (Club Med) after rival bidder Global Resorts withdrew from the process.
China's Xiaomi confirms $1.1b funding round
Chinese smartphone maker Xiaomi has raised $1.1 billion further round led by Hong Kong-based All-Stars Investment. DST Advisors, Singapore’s GIC Private, Hopu Investment Management and Yunfeng Capital have also participated.
Chinese insurers win approval for SME-focused PE funds
Chinese insurance companies have been permitted to set up private equity funds that specifically focus on investing in local small and medium-sized enterprises (SMEs).
Ping An energy fund invests $160m in United Photovoltaics
Chinastone Capital Management, an energy-focused investment firm backed by Ping An Insurance, has acquired HK$1.26 billion ($160 million) worth of convertible bonds in solar plant operator United Photovoltaics Group.
MSPEA, Sihuan Pharma invest in Chinese hospitals - UPDATE
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with Sihuan Pharmaceuticals – one of its portfolio companies – and that company’s chairman to invest RMB1.24 billion ($200 million) in two Chinese hospitals.
CDH halts investment on China VC fund
CDH Investments has halted deployment of its latest China venture capital fund in the wake of several departures.
Carlyle to pay $483m for GE's AsiaSat stake, launch take-private
The Carlyle Group has agreed to acquire General Electric’s (GE) interest in Asia Satellite Telecommunications (AsiaSat) for up to HK$3.75 billion ($483 million) and then make a buyout offer for the Hong Kong-listed company.
MBK, Hudson exit China environment business to Beijing Enterprises
MBK Partners and Hudson Clean Energy Partners have sold Chinese waste-to-energy and wastewater treatment specialist GSE Investment Corporation (GSEI) to Beijing Enterprises Holdings (BEHL).
RRJ, Jollibee secure Dunkin' Donuts China franchise
RRJ Capital has teamed up with Philippines-based quick service restaurant operator Jollibee Foods Corporation to launch Dunkin’ Donuts in China.
PEP exits Australian cinema chain Hoyts to Chinese buyer
Pacific Equity Partners (PEP) has exited Australian cinema operator Hoyts Group to an investment vehicle set up by Xishuang Sun, chairman of Chinese property developer Dalian Yifang.
Tsing Capital, WLR China fund join $44.5m round for Phononic
Tsing Capital and WLR China Energy Infrastructure Fund have participated in a Series D round of funding worth $44.5 million for Phononic, a US-based manufacturer of solid-state cooling and refrigeration devices.
Fosun consortium raises offer for Club Med yet again
A consortium led by Fosun International has submitted another improved offer for Club Méditerranée (Club Med) – extending a process that has already more than 18 months and during which the bidding price has risen nearly 45%.
Chinese insurers win approval to invest in VC funds
Chinese insurers have received regulatory clearance to invest in venture capital funds, the latest in a string of moves that are liberalizing investment channels for the sector and allowing greater exposure to alternative assets.
China's Baidu confirms investment in Uber
Chinese search engine Baidu has confirmed that it is the latest investor in Uber, the online car-ordering service that has raised an estimated $3.3 billion since its inception.