China

Warburg Pincus-backed e-Shang receives pre-IPO funding

Chinese warehousing developer and operator e-Shang, which was co-founded by Warburg Pincus and two local entrepreneurs in 2011, will receive $120 million in pre-IPO financing from Goldman Sachs. Warburg Pincus has also committed a third round of investment,...

CITIC rides China’s LNG wave

Two weeks ago China National Offshore Oil Corp. received the first cargo of liquefied natural gas (LNG) at the Tianjin floating storage regasification unit. The company now has the capacity to handle 24.4 million metric tons of LNG per year at six offshore...

Finding a voice

“When AIFMD came out in draft form a couple of years ago we engaged the Hong Kong government to participate in the process of seeking comment,” David Pierce, a partner at FLAG Squadron Asia and until recently non-executive chairman of the Hong Kong...

PE-backed Alibaba, Haier to launch logistics JV

PE-backed Alibaba Group will invest a total of HK$2.8 billion ($360 million) in Haier Electronics Group, a Hong Kong-listed subsidiary of Chinese home appliance maker Haier Group, to expand its logistics and distribution network. Haier Electronics is...

MSPEA in take private bid for Sino Gas

Morgan Stanley Private Equity Asia (MSPEA) is supporting a management buyout of Sino Gas International Holdings that values the US-listed Chinese gas distributor at approximately $15.9 million. This would be the third investment from the PE firm's fourth...

PE-backed China Cinda prices HK IPO at top of range - report

China Cinda Asset Management, a company originally set up to absorb non-performing loans (NPLs) from China’s Big Four state-owned banks, has priced its IPO at the top end of the indicative range and is on course to raise $2.5 billion. It will be Asia’s...

CITIC Capital, Windjammer buy US valve manufacturer

CITIC Capital Partners has teamed up with US-based Windjammer Capital Investors to buy Engineered Controls International (ECI), a manufacturer of valves used in the transportation and storage of liquefied petroleum gas (LPG) and liquefied natural gas...

SDCL launches $200m UK-China energy efficiency fund

UK-based Sustainable Development Capital LLP (SDCL) has teamed up with with Hong Kong private equity infrastructure firm First Eastern Investment Group to launch a $200 million fund that will invest in energy efficiency projects in the UK and China.

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Portfolio: EQT Partners and Japan Home Centre

In 2010 Japan Home Centre was already a successful domestic brand but to realize its IPO ambitions it needed the right partner to guide it through a period of rapid expansion – EQT Partners

VCs to take Kingsoft across borders, platforms

Hong Kong-listed software developer Kingsoft is not in desperate need of capital. It posted a net profit of RMB466.4 million ($76.6 million) in 2012, up 39% year-on-year, and its cash reserves stood at RMB2.4 billion for the year. Furthermore, in July...

Asia Awards: VC Deal of the Year – Tujia

Lightspeed China likes disruptive business models that build up traction online and then use the momentum to gain a foothold offline as well. This has worked to good effect with Meilele, an online furniture retailer that now has a network of 200 offline...

Asia Awards: AVCJ Special Achievement – Shangzhi Wu

CDH Investments started out in 2002 with four LPs and $100 million in capital. The team had been together for six years as the private equity unit of China International Capital Corp. (CICC), but the asset class was relatively unknown and unproven in...