China
Apollo launches two Asia real estate funds
Apollo Global Management has launched two funds that will invest in commercial real estate in Asia, seeking up to $750 million in capital. It comes barely three months after the private equity firm disclosed that it has raised about $255 million for an...
China's NDRC backs Gobi's second RMB fund
China’s National Development Reform Commission (NDRC) has invested RMB50 million ($7.9 million) in Gobi Partners' second renminbi-denominated fund. The latest injection takes the Yingzhi RMB Fund to RMB350 million in size.
Ping An launches $157m venture capital fund
Ping An Insurance, the world's second-largest life insurer by market value, has established a RMB1 billion ($157 million) venture capital fund. It will target sectors including financial services, consumer products, healthcare, automobiles and tech, media...
Asia fundraising: A box-checking exercise
Was I surprised last week to find out that FountainVest Partners had accumulated more than 80% of the capital targeted for its second China fund after less than five months on the road? Not particularly. In a difficult fundraising environment, this particular...
CVC, SCPE generate quick return on Infastech
A swift trade sale exit was always likely for Asia-based fastener manufacturer Infastech. Not long after CVC Capital Partners and Standard Chartered Private Equity (SCPE) acquired the asset in 2010, strategic investors started showing an interest.
LPs endorse Kerogen's Asia energy strategy
Barely 48 hours before Kerogen Capital announced a final close of just over $1 billion for its debut fund, the PE firm received two endorsements of its investment thesis. First, CNOOC agreed to buy Canadian oil and gas major Nexen for $15.1 billion plus...
China biotech: Elusive innovation?
PE and VC investors want to leverage China’s rapidly growing biotech industry, but few firms have a proven ability to commercialize their innovations in drug development. Change will come, gradually.
Warburg Pincus backs Chinese children's goods retailer
Warburg Pincus has invested $55 million in Chinese maternity and children’s goods retailer Kidswant. The capital will be used to increase store numbers and boost the company’s growth plans.
China relaxes QFII rules to include private equity
Private equity firms will be allowed to apply for licenses under China's Qualified Foreign Institutional Investor (QFII) program, offering greater freedom to invest in domestic debt and equities. The move is part of wider efforts to open up and liberalize...
WI Harper leads Series B round for AdMaster
W.I. Harper has led a Series B round of funding for AdMaster, a China-based digital marketing service provider. GSR Ventures, which invested in the company’s Series A round in late 2010, also participated.
Hony, GCS named preferred bidders for Dexia unit – report
Hony Capital has teamed up with GCS Capital, a PE firm founded by former investment banker Guocang Huan, to buy the asset management arm Dexia in a deal worth EUR500 million ($615 million). The Franco-Belgian financial group is one of the biggest victims...
SAFE commits $500m to Blackstone property fund – report
China’s State Administration of Foreign Exchange (SAFE) has reportedly committed $500 million to The Blackstone Group’s latest real estate private equity fund. Blackstone Real Estate Partners VII has proved popular with investors and Stephen Schwarzman,...
Infinity Group sells IP to Anxin-China
Infinity Group, the Israel-based private equity firm created by China Development Bank and Israeli conglomerate IDB Group, has sold intellectual property developed by two of its portfolio companies to Anxin-China Holdings.
CIC doubles alternatives exposure, posts loss for 2011
China Investment Corporation (CIC) doubled its exposure to private equity, direct investments and hedge funds in 2011 but market volatility saw the sovereign wealth fund’s global portfolio retract by 4.3%, contributing to its first-ever annual loss. Net...
TPG confirms acquisition of China's HCP
TPG Capital has acquired Chinese packaging company HCP Holdings from its family owners. Sources close to the development told AVCJ the deal is worth around $500 million.
China allows insurers to double private equity exposure
The China Insurance Regulatory Commission (CIRC) has allowed insurers to invest up to 10% of their total assets in private equity. Investment in the asset class was previously capped at 5%. The move is expected to see $50 billion of fresh capital injected...
The US invasion: Competition rises among Asia PE legal counsel
A host of US law firms are boosting their Asian operations with a view to offering private equity clients a full suite of services, from fund formation to capital markets. Is there enough business to go around?
James Fong joins Mayer Brown JSM as partner
Global law firm Mayer Brown JSM has appointed James Fong as partner in its corporate and securities practice. He joins from Hogan Lovells, where he became a partner in 2010.
Kerogen Capital raises $1b for debut energy fund
Kerogen Capital has reached a final close in excess of $1 billion for its debut energy-focused fund. Investors include North American foundations and endowments, family offices, fund-of-funds, an affiliate of a Middle East sovereign wealth fund, and investors...
A Capital bets on B&O's China growth story
Just three months ago, 87-year-old Danish electronics manufacturer Bang & Olufsen (B&O) announced worse-than-expected third quarter results: revenue was down 7% year-on-year while pre-tax profit fell by 37%. The company blamed poor sales in Europe and...
Profile: Squadron Capital's Anand Prasanna
Anand Prasanna has gone from learning about business in the backwaters of southern India to working for Squadron Capital, one of Asia’s leading indigenous fund-of-funds. He also makes angel investments
FountainVest reaches first close of $1b on second China fund
FountainVest Partners has reached a first close of just over $1 billion on its second China-focused fund. The vehicle has only been in the market for about four months, but it is already nearing its full target of $1.25 billion. Sources familiar with...
China's PiYi Investment to fund US companies
PiYi Investment Management, a Chinese private equity manager for high-net worth investors, has teamed up with Wisconsin Economic Development Corporation (WEDC) in the US to invest $100 million in Wisconsin companies.
CVC, Standard Chartered in $850m Infastech exit
CVC Capital Partners and Standard Chartered Private Equity have exited Hong Kong-based fastener manufacturer Infastech to Stanley Black & Decker for $850 million in cash. The strategic investor emerged the victor in a two-round auction process. It was...