China
AIG says aircraft leasing deal with Chinese consortium is not dead
Negotiations are ongoing between American International Group (AIG) and the Chinese consortium – which includes a fund run by former Primus Financial Holdings executive Wing-Fai Ng – that has agreed to buy a majority stake in International Lease Finance...
China’s Zhonglu VC invests in five start-ups
A venture capital arm of Shanghai Zhonglu Group, a Chinese bicycle manufacturer, has invested a total of RMB36.4 million ($5.9 million) in five online technology start-ups. Zhonglu VC will take a 20% stake in each company.
China's 58.com plans for $100m IPO in the US - report
Chinese venture capital-backed local classifieds website 58.com intends to raise at least $100 million through a US IPO later this year.
Japan's Transcosmos buys 20% VC-backed Chinese logistics firm
Japan’s Transcosmos has bought a 20% stake in FineEx, a Chinese logistics provider backed by Shanghai Vstone Capital. The transaction size was not disclosed but it is believed to be over $10 million.
GCS sees Dexia asset management deal collapse - Update
GCS Capital's EUR380m ($503 million) bid to acquire the asset management arm of Dexia collapsed yesterday after the Franco-Belgian bank said the Hong Kong PE firm had been unable to pay for the deal.
China’s Car Clubs rental service secures Series A financing
Hangzhou-based Incapital and government-owned Tobon VC have provided a Series A round of funding for Car Clubs, a Chinese car rental service operator. Details of transaction were not disclosed but it is said to be in excess of RMB10 million ($1.6 million).
China Merchants sells stake in NTong Technology
The direct investment arm of China Merchants Group plans to sell its entire 12.34% stake in NTong Technology to Shenzhen-listed Unisplendour Corporation (UNIS), for RMB86.36 million ($14.07 million). The proposed deal values the company at about RMB700...
China banking reform: Share the wealth
China's first step in interest rate liberalization might herald a series of reforms that make financial services more market-oriented. But where does shadow banking fit into it?
PE and China's financial sector flaws
The liquidity squeeze engineered by China's central bank in June, which temporarily made it more expensive for commercial banks to lend money to one another, was generally regarded as an effort to remind said banks about the importance of solid asset...
China CYTS Tours buys back Wuzhen stake from IDG
IDG Capital Partners has existed Tongxiang Wuzhen Tourism Development to the investee’s parent company, China CYTS Tours Holding, for $67.5 million. The PE firm bought about a 16% stake for $6.47 million in 2009, implying a 10.4x return on its investment.
CIC returns to profit in 2012 on back of equities boost
China Investment Corp. (CIC) has returned to profit, reporting an annual return of 10.6% on its overseas investments last year thanks to a rally in global equities. The sovereign wealth fund saw a cumulative annualized return of 5.02% for 2012, up from...
China’s Baifendian secures $10m Series B round
Baifendian, a Chinese recommendation engine that tracks user tastes and predicts how they might rate items, has received $10 million in Series B financing from Zhejiang Shinkansen Media Investment via its Eastern Starry Sky Culture Fund.
Zennon, New World invest $25m in China games developer CMGE
Zennon Capital Partners and New World Strategic Investment (NWSI) have invested $25 million in NASDAQ-listed China Mobile Games and Entertainment Group (CMGE).
Kroll boosts China investigations practice
Kroll Advisory Solutions has hired Peter Glanville as an associate managing director in its Greater China investigations and disputes practice. He joins from Deloitte where he was a senior member of the forensic accounting team.
DCM targets $250m for China VC fund
DCM is seeking $250 million for its latest China-focused fund. The target for Venture China Fund VII is less than the $400 million raised for DCM's previous vehicle, which invests in China, the US and Japan.
EQT mulls deal for Dairy Queen, Papa John’s China franchisee – report
EQT Partners intends to buy a minority stake in RCS Group, a Chinese fast-food chain operator that owns franchisee rights for the Dairy Queen and Papa John’s Pizza, from existing investor Warburg Pincus.
GCS Capital, Dexia deal in doubt as deadline missed
GCS Capital's proposed EUR380 million ($502 million) purchase of the Dexia's asset management arm has been thrown in to doubt after the Franco-Belgian bank ceased talks on the deal yesterday.
Legend Capital joins funding round for heart valve implant maker
Legend Capital has participated in a $62.5 million Series C round of funding for Munich-based JenaValve Technology, a manufacturer of valve systems used to treat heart conditions. The company intends to apply to market products in China.
Bright Stone targets $4.8b for China tourism fund
China Bright Stone Investment has partnered with the Guizhou provincial government to launch the country's first tourism-focused fund, targeting up to RMB30 billion ($4.8 billion). The vehicle – Wuling Mountains travel industry investment fund - will...
China’s SAIF invests in COFCO-run food retail site
SAIF Partners has invested in Womai.com, a food and grocery B2C online platform set up by Chinese food conglomerate COFCO. Financial terms were not disclosed but the investment is said to be more than $10 million.
L Capital targets Chinese beauty
As growth slows in China's consumer sector, L Capital Asia has identified cosmetics as a segment with the qualities to withstand the broader trend. Put simply, as a woman’s disposable incomes rise, so does her consumption of premium cosmetics, particularly...
Caffeinated returns: Private equity's coffee shop craving
Private equity is already leveraging the growing popularity of coffee shops across Asia. But where is the next frontier – and is it all about the coffee?
Rich man’s game: The cost of fundraising in Asia
Asian GPs and fund lawyers are struggling with a demand-supply imbalance. LPs are negotiating more and conceding less - but for all that managers say fundraising costs are going up, lawyers say fees are going down
Media entrepreneurs to create China alternative investment group
Chinese media entrepreneur Bruno Wu and Thomas Middelhoff, former CEO of German media group Bertelsmann and Arcandor, are to form a China-focused media and investment joint venture, pooling assets with revenues of $1-2 billion.