China
China’s trust companies set to enter PE space
New regulation concerning the expansion of China trusts' investment scope to include private equity is expected to be announced soon. China Industrial International Trust (CIIT) is set to be among the first batch of companies to take advantage of the...
City e-Solutions commits $25m in China property fund
CES Capital, a private equity arm of Hong Kong-listed City e-Solutions (CES), has committed $25 million to BEA Blue Sky Real Estate Fund, a vehicle operated by Bank of East Asia. The CES Capital contribution represents about half of the target fund size.
China Haitong Securities PE arm eyes buyout funds – report
Haitong Capital Investment, the PE arm of China Haitong Securities, is expected to launch its first renminbi- and US dollar- denominated buyout funds, targeting at least $526 million.
A taste of Europe: Asian investor objectives
Asian LPs have become part of the landscape of European private equity, pursuing opportunities across buyouts, secondaries, credit and distress. But what do they really want from the region?
European infrastructure: Bubble at the core
Asian investors are drawn to the diversification and yields offered by European infrastructure, but certain segments of the market are overheating. Prices are getting bid up and returns are likely to be pushed down
FountainVest scoops top AVCJ China Awards
AVCJ China Awards: Morgan Stanley PE Asia’s Homer Sun named PE Professional of the Year; the consortium behind Alibaba Group’s buyback win top deal honor; Carlyle gets exit award for China Pacific Insurance
East meets West: China PE and European corporates
Asian companies have sunk nearly $9 billion into European assets so far this year. In 2012, the final total for Asia-to-Europe M&A was more than $54 billion across 200 or so deals, according to AVCJ Research. This is more than was deployed in the four...
Banks put up $7b for PE-backed Shuanghui’s Smithfield deal – report
Bank of China and Morgan Stanley will provide $7 billion in financing for PE-backed Shuanghui International’s buyout of a US pork producer Smithfield Foods. The proposed deal, which values Smithfield at $7.1 billion including debt.
CITIC PE completes $370m 3SBio take-private
Chinese biotechnology firm 3SBio will delist from NASDAQ after shareholders voted in favor of a privatization bid from a group led by the company’s CEO and CITIC Private Equity. The deal, which values 3SBio at $370 million, is the eighth successful...
FountainVest scoops top AVCJ China awards, targets more buyouts
FountainVest Partners claimed the Firm of the Year and US dollar fundraising prizes at the 2013 AVCJ China Awards, which were presented in Beijing yesterday as part of the AVCJ China Forum. Homer Sun, CIO of Morgan Stanley Private Equity Asia (MSPEA),...
China’s Fosun supports Alibaba in logistics build-out
Chinese conglomerate Fosun International will contribute RMB500 million ($81.4 million) for a 10% interest in Alibaba Group’s nationwide logistics project. Known as the China Smart Logistics Network, the project is expected to receive up to RMB100 billion...
PE-backed Chinese horse breeder gets Series B round
China’s largest non-farming horse breeder and horse feedstock trader has received RMB45 million ($7.3 million) from CDF Capital as part of a Series B round of funding. This comes nine months after the company’s RMB120 million Series A round, half...
CITIC PE to launch offshore energy fund with Canadian asset manager
CITIC Private Equity has entered into a joint venture with Canadian asset manager Sprott to set up an offshore global resources fund. The vehicle fits in with China’s strategic interest in acquiring overseas energy assets required to sustain economic...
Warburg Pincus co-president targets emerging markets consumer, tech – AVCJ Forum
Warburg Pincus sees investment potential at the nexus of consumer and technology as it looks to increase its activity in emerging markets. China is set to feature strongly, but so too will India, Brazil, and central and eastern Europe.
CDH, Goldman-backed Chinese pork producer bids for Smithfield
Shuanghui International, a Chinese pork producer that counts CDH Investments and Goldman Sachs among its investors, has offered $4.7 billion in cash for US-based Smithfield Foods. The proposed deal, which values Smithfield at $7.1 billion including debt,...
Carlyle acquires 49% stake in China shopping malls
The Carlyle Group has acquired a 49% stake in two shopping malls in Suzhou and Hangzhou owned and operated by Chinese developer SZITIC Commercial Property (SCP) as part of a strategic partnership.
Goldman exits ICBC as banks face squeeze
Goldman Sachs has toppled The Carlyle Group at the top of China’s exit rankings, with $9.85 billion in proceeds generated from its investment in Industrial and Commercial Bank of China (ICBC) against an initial commitment of $2.58 billion.
Silver lining: Investing in Asia's elderly
An established investment trend in developed markets, private equity players in emerging Asia are considering how they can best meet the needs of the region’s aging population
China’s CIC names ex-ICBC executive to head supervisory board
China Investment Corp. (CIC) has named Xiaopeng Li, a former vice president at Industrial & Commercial Bank of China (ICBC), as head of its supervisory board. He replaces Liqun Jin, who spent five years in the role.
Fosun, Axa make $700m buyout offer for Club Med
Chinese conglomerate Fosun International and Axa private equity have submitted a friendly takeover bid for French-based vacation resorts operator Club Méditerranée (Club Med). It values the company at EUR556 million ($700 million).
China Development Bank to provide financing for PE, Weichai-backed Kion
China Development Bank will provide EUR500 million ($647 million) in financing to support the partnership between Weichai Power, a Chinese automotive and equipment manufacturer, and Kion, a German forklift truck maker backed by KKR and Goldman Sachs....
China’s Kaida VC invests in VTL Associates
China’s Suzhou Industrial Park Kaida Venture Capital has invested in VTL Associates, a Philadelphia-based financial consulting firm that develops equity and fixed income indexes.
China’s LightInTheBox sets IPO terms, targets up to $87m
VC-backed Chinese online retailer LightInTheBox plans to raise up to $87 million through its IPO on the New York Stock Exchange (NYSE).
PE-controlled Chinese cinema equipment maker files for US IPO
Chinese digital cinema equipment manufacturer GDC Technology, a portfolio company of The Carlyle Group and Yunfeng Capital, has announced plans to raise up to $75 million through a NASDAQ IPO. With only two Chinese firms managing to go public in the US...