China
Q&A: Shearman & Sterling's Lorna Chen
For domestic private equity funds in China, regulation remains a clouded issue - it is unclear who should be responsible for the issue and how. Lorna Chen, a partner with Shearman & Sterling, explains where the difficulties lie
Princeling funds: Who's your daddy?
Another month, another princeling fund. Okay, so they're not that prolific but there is a familiarity to PE platforms built upon the shoulders of Chinese leaders' offspring in terms of the nature of their emergence.
CDH invests $90m in HK furniture maker Man Wah Holdings
CDH Investments has acquired a 8.54% stake in Hong Kong's Man Wah Holdings for HK$700 million ($90 million) through a convertible bonds subscription. Another investor, Huaxia, also bought a 1.83% stake in the firm for HK$150 million.
China travel site Qunar raises new round – report
Chinese online travel bookings portal Qunar has reportedly received $57 million from majority owner Baidu, new investor Hillhouse Capital and existing backer GGV Capital.
Forum Partners appoints Gregory Wells as Asia head
Forum Partners has appointed Gregory Wells as managing director and head of Asia.
Goldman, GIC invest $100m in China healthcare play iKang
Goldman Sachs and Government of Singapore Investment Corporation (GIC) have committed $100 million to Chinese private health management company iKang.
Noah's Gopher in $80m first close on China secondaries fund
Gopher Asset Management, the private equity arm of NASDAQ-listed Noah holdings, has reached a first close of RMB500 million ($80 million) on its debut China secondaries fund.
Formation 8 raises $448m, eyes US-Asia VC opportunities
Formation 8, a start-up venture capital firm that targets US businesses with the potential to expand into Asia, has raised $448 million for its debut fund. Headquartered in Silicon Valley, the firm has eight operating professionals based out of offices...
China's Hongye commits $100m to California's Singpoli Capital
China's Hongye International Investment Group has committed a $100 million in private equity to California-based firm Singpoli Capital to develop green energy, biochemistry, media, high-tech and real estate construction projects.
Hony Capital acquires 10% stake in Chinese property developer
Hony Capital has bought a 10% stakes in Shanghai-listed property developer Shanghai Chengtou Holding for RMB1.8 billion ($290 million), becoming the second-largest shareholder in the company.
Australia’s QIC looks to develop its direct China exposure
QIC, an Australian investment manager QIC with more than A$69 billion ($73 billion) under management for a combination of domestic and international clients, is stepping up its efforts to develop bilateral investment opportunities in China. The group...
CDIB backs online furniture retailer Meilele through $19m bond issue
CDIB Capital has committed a total of $19 million into Chinese home furnishings online retailer Meilele though a convertible bonds subscription.
University of Michigan commits to Morgan Stanley Private Equity Asia IV
The University of Michigan has committed $25 million to Morgan Stanley Private Equity Asia’s (MSPEA) fourth pan-regional fund. The vehicle, which reached a first close of $750 million towards the end of last year after less than six months in the market,...
CIC, ADM support buyout of Australian lithium producer
Chengdu Tianqi Industry Group, a Chinese lithium products manufacturer, has completed the acquisition of Australian miner Talison Lithium, with support from China Investment Corporation (CIC) and Hong Kong-based special situations group ADM Capital. The...
Carlyle buys Shanghai office tower from Singapore’s Forterra
The Carlyle Group has paid $267 million for Central Plaza, a Shanghai office building owned by Singapore real estate fund Forterra Trust. The deal is further confirmation of private equity firms’ appetite for commercial real estate in China, coming...
Son of ex-China politburo member raises PE fund
The son of He Guoqiang, until last year the member of China's politburo standing committee responsible for policing corruption in government, has established a private equity firm called Nepoch Capital.
Advent International opens China office
Advent International has opened its first China office in Shanghai. Advent China will work on local investments the PE firm's core sectors of chemicals, healthcare, retail, consumer and leisure.
NSSF assets tipped to reach $806b by 2020
China's National Council for Social Security Fund (NSSF) will see its assets swell to as much as RMB5 trillion ($806 billion) by 2020, driven by contributions from state-owned enterprises (SOEs), according to the fund's former chairman.
Capital Dynamics forms alliance with RMB fund-of-funds Diligence Capital
Capital Dynamics has partnered with China-focused fund-of-funds manager Diligence Capital in a bid to expand its geographic footprint in the world’s second-largest economy
Lunar Capital boosts operating partner team
Lunar Capital has appointed Eric Yiming, a long-serving China and Asia executive with Sampoerna Tobacco Group, Heineken and Tropicana, as a sector partner. Yiming will focus on the food, beverage and fast-moving consumer goods industries, and although...
3SBio shareholder opposes CITIC PE-backed take-private
One of the largest shareholders of Chinese biotechnology firm 3SBio plans to oppose a take-private bid tabled by CEO Jing Lou and CITIC Private Equity that values the company at $340 million.
CDIB Capital backs duty-free operator Flemingo International
CDIB Capital has invested $19.9 million in Dubai-based travel retail operator Flemingo International.
China’s NSSF assets top $178b in 2012
China’s National Council for Social Security Fund (NSSF) reported a 7% investment return in 2012, its best performance in three years, as total assets under management topped RMB1 trillion ($178 billion) for the first time.
PAG special sits fund invests $125m in China property developer
PAG will invest in real estate developer China South City Holdings through the purchase of HK$975 million ($125.6 million) in convertible notes. The proceeds will be used to support properties under development and refinance a portion of existing debt.