China
CITIC PE agrees carve-out of TNT's China road business
CITIC Private Equity has agreed to buy TNT Express’ China road operations for an undisclosed sum. It is one of several divestments expected from the Netherlands-based logistics provider, which is seeking to cut costs and refocus on its core European...
TPG completes take-private of China’s ShangPharma
TPG Capital has completed a management buyout of ShangPharma Corporation that values the Chinese pharmaceutical and biotech research outsourcing firm at $173 million. It is the sixth private equity-backed privatization of a US-listed Chinese company to...
China's NDRC seeks tighter grip on private equity
China's top planning body, the National Development and Reform Commission (NDRC), has reiterated its call for private equity funds to register with local governments. It is the latest move in an ongoing turf war over the asset class after the Chinese...
CBC joins Series C round for Pluribus Networks
China Broadband Capital (CBC) has contributed to a Series C round of funding for Pluribus Networks. The capital will be used to help the network virtualization equipment maker to bring its technologies to the Chinese market.
Q&A: Baring Private Equity Asia's Jean Eric Salata
Baring Private Equity Asia closed its fifth fund at $2.46 billion in early 2011. CEO Jean Eric Salata tells AVCJ why the firm has taken its time investing the capital and where he now sees value emerging in the market
On rocky ground: PE’s Mongolia risk factor
Rich in mining resources, Mongolia has a bright economic future, but vulnerability to commodity price shocks and an uncertain political climate have made many investors wary of taking the risk
LGT opens Beijing office as part of differentiation drive
LGT Capital Partners has chosen Beijing as the location for its fourth investment office globally as the firm looks to differentiate its exposure to Asia’s largest private equity market in an increasingly competitive fund-of-funds space.
Have your say in the China Awards
As anyone who has been reading AVCJ’s coverage in recent months will know, China fundraising disappointed in 2012. Country-focused funds attracted just $23.4 billion, down 51.3% on the previous year. The damage was done in the second half, and mainly...
China distress-focused GP Shoreline raises $303m for Fund II
Shoreline Capital, a China-focused special situations investor, has closed its second fund at $303 million. It comes after distress-focused investors in Asia raised a cumulative $2.4 billion in 2012, the highest level seen in six years.
Baring PE Asia abandons Ambow Education take-private
Baring Private Equity Asia (BPEA) has abandoned its $108 million take-private bid for Chinese education provider Ambow Education Holding, citing the resignation of four of the New York-listed company’s independent directors and its auditors in the 10...
Qiming, KPCB lead $21.3m Series C investment in Origene
Qiming Venture Partners and KPCB China have led $21.3 million of Series C funding in OriGene Technologies, a biotech company based in the US and China.
FountainVest wins approval for China jewelry take-private
A consortium comprising FountainVest Partners and the chairman and CEO of NASDAQ-listed jeweler LJ International has won board approval to take the company private in a deal worth about $64 million. It is the seventh PE-backed privatization of US-listed...
Nominations for the 2013 AVCJ China Awards - final call
Nominations for the 2013 AVCJ China Awards close today. This is the last chance for members of the Asian private equity and venture capital community to put forward candidates to be considered for the nomination shortlist.
VIDEO: Edward Epstein of Troutman Sanders
Private equity investment in China’s real estate sector will become more specialized as it matures, with healthcare and old age care among the key segments to watch, says Edward Epstein, managing partner of Troutman Sanders’ Shanghai office
CNEI invests in Chinese drug developer
China New Enterprise Investment (CNEI) has committed $21 million to Shanghai Fudan-Zhangjiang Bio-Pharmaceutical (FDZJ), a Hong Kong-listed developer of drugs and diagnostic products.
AID Partners invests in Prime Focus' movie special effects unit
Hong Kong-based private equity firm AID Partners has invested $10 million in Prime Focus World (PFW), a global entertainment services company and wholly-owned subsidiary of Indian media company Prime Focus.
Transition time
China has now completed the second smooth leadership transition in its modern history, with Xi Jinping assuming the role of president - he had already been named to the arguably more important posts of chairman of the Central Military Commission and general...
CPPIB prefers India to China as infrastructure play
Canada Pension Plan Investment Board (CPPIB) expects to make more progress in Indian infrastructure as opportunities in the sector in China are limited by the availability of cheap finance, which enables local governments to develop projects without foreign...
Lunar hires ex-Parker Pens China executive as sector partner
Lunar Capital has appointed Vincent Sun as sector partner for high-end branded consumer goods, with the expectation that he will be seconded to children’s clothing retailer I Pinco Pallino Asia as general manager. This follows the China-focused GP’s...
Siemens sets up RMB venture fund
The venture capital arm of Siemens Financial Services (SFS VC), has set up a dedicated renminbi-denominated investment vehicle. The size of the fund has not been disclosed
Standard Chartered invests in China's Aiyingdao department store
Standard Chartered Private Equity (SCPE) has invested in China's Aiyingdao Children's Department Store. Details of the transaction were not disclosed.
Baring PE Asia tables buyout offer for China’s Ambow Education
Baring Private Equity Asia (BPEA) has offered to buy New York-listed Ambow Education Holding in a deal that values the Chinese tutoring and training services provider at about $108 million. It is the 14th PE-backed take-private transaction involving a...
AVCJ at 25: Yichen Zhang of CITIC Capital
Yichen Zhang, CEO of CITIC Capital, watched as pre-IPO strategies took Chinese private equity to unthinkable highs in the mid- to late-2000s. As the market returns to more sustainable levels, he sees control opportunities amid the chaos
AVCJ at 25: John Zhao of Hony Capital
John Zhao, founder and CEO of Hony Capital, teamed up with Legend Holdings to create China’s first buyout fund in 2003. Nearly 10 years on, he is still restructuring state-owned enterprises but also looking to go overseas