China
Asia Awards: PE Professional of the Year - Michael Kim
MBK Partners closed its North Asia-focused fund in September and also completed four of Asia’s largest buyouts of 2013. Michael B. Kim, the firm’s founding partner, looks back on a busy 12 months
Asia Awards: Firm of the Year - KKR
KKR closed its second pan-Asia fund at $6 billion and announced investments of $1.8 billion and distributions of $1.2 billion for the year to September. Capstone, the firm’s operating unit, was a factor in each area
Adding extra: China bolt-on acquisitions
Private equity firms are exploring various strategies to help Chinese companies expand overseas. Bolt-on acquisitions are a proven approach in some markets, but that doesn’t mean they work for corporate China
China Huace Media buys stakes in VC-backed Herun Media
Shenzhen-listed film and television producer Huace Media has picked up a 20% stake in Herun Media, a Beijing-based marketing specialist backed by several domestic VCs, for RMB104 million ($17 million).
Sailing Capital launches cross-border RMB buyout fund
China’s Sailing Capital and its subsidiary Shanghai Sailing Industrial Capital have launched a RMB5 billion ($821 million) buyout fund, in a bid to facilitate cross-border transactions.
China to resume IPOs in 2014 – CSRC
The China Security Regulatory Commission (CSRC) plans to re-open the IPO market in January. About 50 firms are expected to pass the regulator’s review and become the first batch to list.
Highland leads Series A round in food ordering website
Highland Capital Partners has provided approximately $10 million in Series A funding to Etaoshi, a Chinese online food ordering and delivery platform. Several undisclosed domestic venture capital firms also participated in the round.
Orchid Asia-backed Autohome sets terms for $126m US IPO
Autohome, a Chinese online automobile marketplace in which Orchid Asia is an investor, plans to raise up to $125.9 million through an IPO on the New York Stock Exchange. The private equity firm will not be exiting any shares through the offering.
China’s CBC invests in travel website Breadtrip
China Broadband Capital (CBC) has provided a Series B round of funding for Breadtrip.com, an online travel platform. The company has now raised about $10 million across two rounds.
PE-backed Jintian Pharmaceutical eyes $273m HK IPO
Jintian Pharmaceutical Group, a Chinese pharmaceutical retailer and distributor backed by CVC Capital Partners and SEAVI Advent Private Equity, is seeking to raise as much as $273 million through an IPO in Hong Kong.
More than 50 Chinese PE firms suspected of illegal fundraising
More than 50 Chinese private equity firms are suspected of illegal fundraising activity, according to the head of a taskforce charged with tracking down offenders. A total of RMB16 billion ($2.6 billion) and more than 100,000 people are thought to be...
Sequoia leads $25m round for China online takeout service
Sequoia Capital China has led a $25 million Series C round of funding for ele.me, a Chinese food ordering service. This latest round - which also includes existing backer Matrix Partners - values the company approximately $100 million.
Chinese insurers’ PE investment scope to further relax - CIRC
China Insurance Regulatory Commission (CIRC), the Chinese insurers’ regulator, is looking to raise the cap on industry players’ exposure to private equity to 20%-30% of total assets.
Northern Light backs Chinese analytics provider TalkingData
Northern Light Venture Capital has provided $10 million in Series A funding to TalkingData, a Chinese mobile data analytics provider. The company plans to use the new capital to enhance its product offerings in mobile gaming, advertising, e-commerce and...
Kingsoft receives $50m from Morningside, GGV, Shunwei
Kingsoft Office Software, an office suite that competes with Microsoft Office, has received $50 million in commitments from Morningside Technologies, GGV Capital and Shunwei China Internet Fund.
China's 500.com jumps 54% on NYSE debut
Shares in VC-backed 500.com gained 54% as the Chinese online sports lottery provider made its US trading debut on Friday. The stock peaked at $21.85 before closing at $20.01, valuing the company at $700 million.
Baring Asia backs $2.8b Giant Interactive take-private
Baring Private Equity Asia is supporting a management buyout of Chinese online game developer Giant Interactive Group that values the New York Stock Exchange-listed company at approximately $2.8 billion. If the deal goes through it would be the second-largest...
CBC, Sichuan Changhong to launch $41m internet fund
China Broadband Capital Partners (CBC) and Sichuan Changhong Electric, a Chinese electric goods maker, plan to launch a RMB250 million ($41 million) venture fund to invest in the cloud computing, big data, smart phone and internet industries.
Oaktree, China Cinda form distressed assets JV
Oaktree Capital Group has entered into a joint venture with China Cinda Asset Management Corp. that will see the two groups invest in distressed assets in China. Cinda was originally set up to absorb non-performing loans (NPLs) from China’s Big Four...
Norway fund, Oaktree among anchors for China Cinda IPO
Norway’s sovereign wealth fund and Oaktree Capital Management are two of 10 cornerstone investors that will cover up to 44% of China Cinda Asset Management Corp’s IPO. The company, originally set up to absorb non-performing loans (NPLs) from China’s...
Sungy Mobile stock closes up 19% after $78.5m US IPO
Sungy Mobile, a Chinese app developer backed by IDG Capital Partners, JAFCO, WI Harper and China Broadband Capital (CBC), saw its stock jump 19% on its first day of trading on NASDAQ to close at $13.35.
AD Capital-owned Spring REIT to raise $229m in HK IPO
Spring REIT, a real estate investment trust owned by AD Capital, is looking to raise up to $229 million through a Hong Kong IPO. The REIT owns two office buildings in Beijing's China Central Place.
Sequoia backs China CRM platform Xiaoshouyi
Sequoia Capital has provided a Series A round of funding for Xiaoshouyi, a Chinese customer relationship management (CRM) platform.
BNRI agrees tie-up with China resources advisory firm
Barclays’ global resources-focused PE platform, Barclays Natural Resource Investments (BNRI), has formed a strategic partnership with Beijing-based corporate advisory firm Ilex Partners to develop its business in mainland China.