China
Hong Kong’s Chevalier targets Catalyst-backed Moraitis – report
Hong Kong-listed Chevalier International is said to be in exclusive talks regarding an investment in Australia’s Moraitis, a fruit and vegetable wholesaler backed by Catalyst Investment Managers.
Blackstone closes global real estate fund at $13.3b
The Blackstone Group has closed its seventh global real estate fund on $13.3 billion. Blackstone Real Estate Partners VII was launched 13 months ago, and raised capital from more than 250 global LPs.
Asian PE fundraising slips in 3Q as RMB vehicles struggle
Asian private equity fundraising reached $10.8 billion in the third quarter of 2012, continuing a downward trend that stretches back 12 months, according to provisional data from AVCJ Research. Renminbi-denominated fundraising experienced the most acute...
3Q analysis: The bottom falls out of RMB fundraising
China US dollar funds attract more capital than renminbi vehicles; trade sales and secondary buyouts continue to gather pace; positive early signs for China buyouts
The revolving door: Chinese LPs and talent retention
Employing people in China, especially at junior level, is an illuminating experience. Job notices provoke a barrage of resumes crammed with work experience. After the customary 30-second scan, you are forced to blink and re-read, asking yourself, “How...
Morgan Stanley supports Feihe International MBO bid
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with the chairman and CEO of Feihe International to make a buyout offer for the US-listed Chinese company. The transaction values Feihe, a leading producer of infant formula and milk powder, at...
Lazard’s Costa joins Developing Markets Capital Partners - report
Developing Markets Capital Partners (DMC), a private equity firm launched by three ex-Goldman Sachs executives, has hired Ken Costa, former chairman of Lazard’s international arm as a partner.
Actis in Chinese casual dining MBO
Networks count, and nowhere more so than in China. This was especially evident during Actis’ investment in Shanghai-based casual dining chain Bellagio, announced last week.
MoFo hires ex-A&O PE specialist Jeremy Hunt
Morrison & Foerster has recruited Jeremy Hunt as a partner in its Hong Kong-based corporate practice. Hunt joins after 24 years at Allen & Overy, where he worked on numerous private equity transactions involving the likes of The Carlyle Group, Temasek...
NewQuest-led group seeks removal of China Hydro directors
An investor group led by NewQuest Capital Partners is calling for the removal of five directors of China Hydroelectric Corporation, citing strategic and operational issues at the company and the apparent lack of credibility and accountability on the board....
Carlyle, Sequoia in take-private bid for Chinese budget hotel chain
7 Days Group Holdings, a US-listed Chinese budget hotel chain backed by Warburg Pincus and Actis, has received a take-private proposal from a consortium comprised of The Carlyle Group, Sequoia Capital China and certain existing shareholders including...
Shenzhen Capital, New Margin fund Chinese sex toy retailer – report
Shenzhen Capital and New Margin Ventures have reportedly provided RMB300 million ($47.4 million) in Series A funding to Adam & Eve, a Chinese sex toys retailer. The company claims to be the first in its segment to receive approval from the State Food...
China’s IPV Capital backs mobile protection solution provider
V-Key, a mobile applications security solutions provider, has secured a $4 million Series A funding round from China-based VC investor IPV Capital.
Harvest Fund, Grosvenor form China property investment JV
China’s Harvest Fund Management and global real estate specialist Grosvenor Fund Management have formed a joint venture dedicated to property investments in Greater China.
Actis backs Chinese casual dining chain
Emerging markets private equity firm Actis has announced an investment in Chinese casual dining chain Bellagio.
TA targets remote communication networks
Communications is clearly a favored sector for TA Associates in Asia. Earlier this week, the US-based private equity player completed the buyout of SpeedCast, a Hong Kong-based network and satellite communications service provider. Of the eight investments...
Alibaba in bumper Yahoo buyback
New and existing private equity investors acquire much-sought-after stakes in Alibaba Group as the e-commerce firm repurchases part of Yahoo’s stake in a $7.6 billion deal
CDH Investments targets $2b buyout fund – report
China's CDH Investments is reportedly targeting as much as $2 billion for its latest fund, joining a host of PE players seeking to raise multi-billion dollar vehicles in the region.
China, India companies beat PE to Digital Domain assets
China’s Galloping Horse Film and India’s PE-backed Reliance MediaWorks have teamed up to acquire assets from Digital Domain Media Group, the distressed Hollywood special effects company, for $30.2 million. The Sino-Indian joint venture easily outmatched...
Carlyle cautious on China prospects
William Conway, co-CEO of The Carlyle Group, has said the private equity firm is less confident about its prospects in China due to slowing economic growth and increased competition.
Headland names Raffini, Thompson as chairman and CEO
Headland Capital Partners has appointed George Raffini as chairman and Marcus Thompson as CEO. They were previously joint managing partners of the private equity firm, having led a spin out from HSBC in 2010.
Chinese bidder to buy PE-backed KraussMaffei – report
A Chinese machinery group is reportedly in exclusive talks with US-based Madison Capital to buy its German rival KraussMaffei Technologies. The deal - which is likely to fetch as much as EUR700 million ($908 million) - would be the latest in a string...
Fosun backs RHJ acquisition of Deutsche's BHF unit
China's Fosun Group is supporting RHJ International in its latest attempt to buy BHF, a leading German private bank, from Deutsche Bank. For Fosun, it represents an opportunity to secure a presence in the eurozone’s largest economy.
China’s fund-of-funds experiment
China has started to witness the emergence of renminbi-denominated fund-of-funds, but only a few institutional and individual investors appreciate their investment philosophy