China
AID Partners-backed Prime Focus to open in China
Prime Focus, a global movie effects and entertainment company headquartered in India and backed by Hong Kong PE firm AID Partners Capital, is to open an office in Beijing.
Carlyle-backed New Century REIT targets $254m HK IPO – report
China’s New Century Group, a portfolio company of the Carlyle Group, is seeking to raise as much as $254 million through an IPO offering by a real estate investment trust (REIT) in Hong Kong.
China’s Dalian Wanda buys PE-backed yachtmaker Sunseeker
Dalian Wanda Group has sealed a deal to acquire a 91.81% stake in Britain’s largest luxury yachtmaker Sunseeker – backed by Irish private equity firm FL partners - for GBP320 million ($495 million). The deal is expected to close by mid-August.
Tencent leads $150m financing round for Fab.com
Chinese internet group Tencent has led a $150m round of investment for US online design store Fab.com, in a fourth round of financing which is yet to close. The deal values the company at $1 billion, not including new capital raised.
CITIC Capital raises $683m China retail property fund
CITIC Capital has reached a final close of $683 million on its China Retail Properties Investment Fund, exceeding the original target of $600 million.
China’s GSR leads restructuring round for Mirabilis Medica
China-focused GSR Ventures is leading a $7 million restructuring round for Mirabilis Medica with a view to helping the company expand its footprint outside the US.
CITIC Capital’s Yichen Zhang joins EMPEA board
Yichen Zhang, chairman and CEO of CITIC Capital, has joined the board of directors at the Emerging Markets Private Equity Association (EMPEA). He will also sit on the organization’s Asia Council.
China.com to sell LP stake in New Horizon fund to AlpInvest
China.com, a news agency listed on Hong Kong Growth Enterprise Market (GEM) board, will sell its entire stake in New Horizon Capital IV to AlpInvest Partners for $516,000.
China’s Jiuding committed to pre-IPO strategy
China pre-IPO specialist Kunwu Jiuding Capital will not change its strategy despite a slump in listings - and exit multiples - before domestic regulators slammed the door on new share offerings completely towards the end of last year.
IDG invests $4m in China Weipass Series A round
IDG Capital Partners has provided a $4 million round of Series A funding to China WeiPass, a smartphone app for payment verification.
Hony to set up China film fund with Shanghai Media Group
Hony Capital will team up with SMG Pictures to launch a joint film and television fund worth a reported RMB3 billion ($489 million).
CIC's head of PE sees opportunities in Europe
The challenging fundraising environment means it is a good time to target private markets, and Europe in particular, according to the head of China Investment Corporation's (CIC) private equity investment department.
PAG agrees $150m investment in Chinese property developer
PAG’s absolute returns division will invest in China-focused shopping mall operator Zall Development Group through a $100 million convertible bond issue, with the option to subscribe to a further $50 million worth of bonds. Assuming full conversion,...
Safety first: Investing in China's food supply chain
Driven by rising disposable incomes and lower confidence in food safety, Chinese consumers are willing to pay a premium for quality. PE firms have identified the opportunity, but taking it can be difficult
China e-commerce logistics: The missing link
China’s fragmented logistics industry is a problem for e-commerce companies as they attempt to provide customers with a better quality service. Should they build competencies in house? Should PE help them?
China IPOs: Different this time
There are signs that the China listings logjam is gradually becoming unstuck, sowing seeds of hope for PE equity and VC investors fielding awkward questions from LPs about liquidity horizons. But markets are unlikely to bounce back to their former highs...
PE investors move to liquidate Ambow, call for CEO to resign
New York-listed Chinese tutoring and training services provider Ambow Education Holding could face a winding up order after a court appointed liquidators to assume control of the company. Avenue Capital, Ambow’s largest institutional shareholder, instigated...
Qualcomm leads Series C for Chinese online English education start-up
Qualcomm Ventures has led a Series C round of funding for Shanghai-based online education company Alo7. The capital commitment is believed to be up to $10 million.
Mandarin Capital-backed Chinese credit rating JV to operate in Europe
Dagong Europe Credit Rating, a joint venture between Beijing-based Dagong Global Credit Rating and Mandarin Capital Partners, has won approval from the European Securities and Markets Authority (ESMA) to operate in Europe. It will become the first Chinese...
China’s LightInTheBox raises $79m through US IPO
VC-backed Chinese online retailer LightInTheBox saw its stock jump 22% on its first day of trading in New York, following an IPO that raised $79 million. It is the first Chinese company to go public in the US this year, and only the second to make the...
Dalian Wanda to buy PE-owned UK yacht maker – report
Dalian Wanda Group is expected to buy Britain’s largest luxury yachtmaker Sunseeker - currently owned by Irish private equity firm FL Partners - for EUR300 million ($400 million).
IFC to lend $70m for Everbright Chinese water project
International Finance Corporation (IFC), the investment arm of the World Bank, will lend $70 million to China Everbright International to build three water plants in China.
China Asset Management backs $332m iSoftStone take-private
Chinese IT services provider iSoftStone Holdings has received a take-private proposal from its CEO and chairman, who is working in conjunction with ChinaAMC Capital Management, an alternative investment platform affiliated to fund management company China...
IFC to support BioVeda’s $200m China fund
International Financial Corp.(IFC), the World Bank investment arm, plans to commit up to $20 million to the latest fund launched by healthcare-focused firm BioVeda China Fund (BVCF).