CITIC Capital
Faster food: PE and restaurant franchising
Franchising out restaurant chains - one of the major objectives for the new PE-backed McDonald's China partnership - is a popular ploy for investors across Asia as they pursue scale. But it is not without risk
CITIC Capital, Carlyle join $2.1b deal for McDonald's China
The Hong Kong-listed arm of Chinese conglomerate CITIC Group, CITIC Capital and The Carlyle Group will take majority ownership of the McDonald’s business in mainland China and Hong Kong as the US fast food chain seeks to franchise out most of its restaurants...
AVCJ Awards 2016: Exit of the Year - IPO: Focus Media
Moving from a privatization in the US to a re-listing in Shenzhen through a reverse merger – in the space of 30 months – Focus Media blazed a trail that others have sought to follow
PE firms well placed for China cross-border deals - AVCJ Forum
Interest in cross-border transactions among Chinese strategic players is increasing, and PE firms have a number of crucial advantages in these situations, industry players told the AVCJ Forum in Hong Kong.
Advent buys China mattress maker from CITIC Capital
Advent International has acquired a majority stake in Chinese mattress maker King Koil Shanghai Sleep System from CITIC Capital Partners for an undisclosed sum.
PE investors commit $850m to Tencent's Supercell acquisition
CITIC Capital and several domestic investment funds have contributed $850 million to Tencent Holdings’ acquisition of a majority stake in Finland-based mobile game developer Supercell.
China GPs see window of opportunity to work with corporates on outbound M&A - M&A Forum
China-focused GPs are cautious about partnering with Chinese corporates on outbound M&A deals, although there is increasing demand for their support in terms of identifying acquisition targets and facilitating post-investment integration.
China’s PE-backed Tongcheng merges with Wanda Tourism
Chinese conglomerate Dalian Wanda Group has spun out its travel-related assets and merged them with a subsidiary of Tongcheng Network Technology, a PE-backed online travel platform. The aim is to create China's largest online-to-offline (O2O) travel business.
Chinese online lender FirstP2P secures $70m
FirstP2P, a Chinese online peer-to-peer (P2P) financing site, has raised a $70 million Series C round led by existing investor CCB International.
GPs target micro gains in weaker macro environment - AVCJ Forum
Institutional investors expect private equity funds to deliver outsize returns, regardless of the lower growth environment in Asia, which means GPs must focus more on making a difference to portfolio companies at the micro level.
China SOE reform: No change?
The mixed ownership model that features in China’s latest push on state-owned enterprise reform sounds exciting in theory but some private equity investors must revise their expectations in practice
Chengwei backs China electronics recycling platform
China-focused Chengwei Capital has led a Series A round of funding worth about RMB100 million ($15 million) for Huishoubao, a Chinese electronic devices recycling platform.
Deal focus: CITIC exits a bigger Tri-Wall
CITIC Capital Partners overcame strategic competition to buy a majority stake in Tri-Wall. After six years and significant financial and geographic expansion, it is exiting to a strategic player
PE-backed SF Express targets $6.6b Shenzhen reverse merger
China’s largest express delivery services provider SF Express, which is backed by several PE investors, is looking to list in Shenzhen through a reverse merger that values the business at RMB43.3 billion ($6.6 billion).
CITIC Capital targets $1.5b for China fund
CITIC Capital Partners is targeting $1.5 billion for its latest China-focused private equity fund, having combined the teams that previously pursued separate China and international strategies.
Ameba leads $46m round for China rural e-commerce site
Ameba Capital has led a RMB300 million ($46 million) Series A round of funding for Taoshihui, a Chinese rural e-commerce platform that helps farmers make purchases online.
Renminbi fund-of-funds: Commercial remit
Renminbi-denominated fund-of-funds have found a new lease of life in China as new private sector entrants and reformed state-backed incumbents look to tap a growing domestic LP base
China cross-border industrial buyouts: Strategic rationale
Chinese outbound investment in advanced technology assets is soaring, but the patchy nature of deal flow underlines the gulf in class between those that aspire to do deals and those that get them done
PE-backed SF Express targets A-share IPO
China's largest express delivery services provider SF Express, which is backed by several PE investors including CITIC Capital, has confirmed that it is targeting an A-share IPO.
PE investors complete acquisition of US chipmaker Omnivision
Hua Capital Management, CITIC Capital and Goldstone Investment have completed their acquisition of US-listed chipmaker OmniVision Technologies in a deal worth $1.9 billion.
CITIC Capital leads round for China VR headset maker
CITIC Capital has led a RMB230 million ($35 million) round of funding for Baofeng Mojing, or Baofeng Magic Mirror, a Chinese virtual reality (VR) headset manufacturer.
GPs on China's New Third Board: Public market oddity
A dozen Chinese private equity firms have been listed on the New Third Board in recent years, but the model is far removed from that seen in other markets and regulators are concerned
Chinese regulator halts GP listings on New Third Board
China’s securities regulator has suspended listings and fundraising by domestic private equity firms on the National Equities Exchange and Quotation (NEEQ) system, also known as the New Third Board.
PE-backed Focus Media re-lists in Shenzhen
Focus Media, a Chinese outdoor advertising business taken private in 2013 by the CEO and a consortium of private equity investors, has re-listed in Shenzhen.