energy
Woori launches $495m PE fund with Posco, EIG
Korea’s Woori Asset Management has launched a private equity fund in partnership with domestic steelmaker Posco and US-based EIG Global Energy Partners. The vehicle was created in February and has a target size of KRW560 billion ($495 million), with Woori...
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...
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...
PE-backed Whitehaven Coal receives $5.5b takeover bid
Private equity firms First Reserve and Farallon Capital have reportedly expressed their support for a A$5.3 billion ($5.46 billion) takeover bid for their portfolio company Whitehaven Coal. Coal magnate Nathan Tinkler last Friday offered A$5.20 per share...
Temasek warns of volatility as annual profit declines
Temasek Holdings saw a marginal increase in the value of its portfolio to S$198 billion for the year ended March 2012, but net profit fell 16% to S$10.7 billion ($8.45 billion). The Singaporean sovereign wealth fund warned that the global economy remains...
Sprint Capital backs Australian coal miner
Sprint Capital has invested A$36 million ($36.4 million) for a 25% stake in Australian mining company Stanmore Coal. Capital from the Hong Kong-based private equity firm, which specializes in mining and natural resources sector transactions, will go towards...
Blackstone suspends payments to Visa Power – report
The Blackstone Group is said to have deferred payments on its $111 million investment in Visa Power after the Indian company failed to meet certain targets set out in the deal.
Palatine-backed Air Energi bolts on Indonesia's Satoil
Air Energi, a portfolio company of Palatine Private Equity, has purchased the technical consulting and professional manpower division of Indonesian oil services company Satoil.
Partners Group invests in Thai wind energy project
Partners Group continues its foray into direct investment with an investment into Wind Energy, a Thai company that provides utility-scale wind farms. Other investors in the project are corporates including Chubu Electric Power Company, Ratchaburi Electric...
Energy investing: Keeping Asia's lights on
North American PE firms have become established oil and gas investors. Asian GPs are only just coming around to the idea, but the long-term potential is huge – provided you hire the right management
Temasek, RRJ buy half of $1.3b Kunlun Energy offering
Temasek Holdings and RRJ Capital, the $2 billion private equity fund set up former Hopu Investment head Richard Ong, has purchased almost half of the shares in a $1.34 billion offering by Kunlun Energy.
KNOC backs Apollo-led purchase of US oil assets
Korea National Oil Corp. (KNOC) will join a consortium led by Apollo Global Management that has agreed to buy US-based El Paso’s oil and gas exploration business for $7.15 billion. The assets are being sold by Kinder Morgan as part of its $21 billion...
Abraaj Capital to complete more deals in Asia
Abraaj Capital is set to complete more deals in Asia in the next few months. The Middle East private equity firm will look for deals largely in India and pursue possible acquisitions in natural resource companies in Indonesia.
CIC gets $30b government injection
China Investment Corp. (CIC) has received an additional injection of $30 billion from the Chinese government. The new capital will give the sovereign fund the firepower to invest overseas, particularly in Europe.
Sunshine Oilsands down 4.3% on its IPO price in early trading
Canadian oil explorer Sunshine Oilsands ended its first morning of trading in Hong Kong down 4.3% on its IPO price. The sluggish performance was expected, largely due to delays in the offering process and negative income streams.
IFC backs Saratoga-led investment in power producer
International Finance Corp. (IFC), the World Bank’s investment arm, has paid up to $25 million for an 11% stake in Indonesian electricity producer Medco Power International (MPI). It is part of a $112 million investment by a Saratoga Capital-led consortium...
First Eastern backs Sustainable Development Capital
First Eastern Investment Group, a Hong Kong-based investor with interests in private equity and venture capital, has acquired a minority stake in Sustainable Development Capital (SDCL). The two firms have also set up an Asia-focused joint venture.
Carlyle's Applus+ buys Australian inspection firm JDA
The Carlyle Group has acquired John Davidson and Associates (JDA), an Australian extraction industry services provider, through its portfolio company Applus+. The size of the transaction wasn’t disclosed but JDA had revenues of around EUR25 million ($32.9...
Frontier markets: Investing around Asia's edges
Private equity deal flow in Mongolia, Cambodia and Laos has gone from zero to a steady trickle. When can the region’s frontier markets turn this potential into real momentum?
Goldman Sachs buys minority stake in Mongolian bank
Goldman Sachs has purchased a 4.78% stake in Trade & Development Bank of Mongolia, the country’s oldest bank. The company has previously received investment from Asian Development Bank and International Finance Corp. (IFC).
CIC, Sinopec commit $300m to Sunshine Oilsands IPO
China Investment Corp (CIC) and China Petrochemical Corp. (Sinopec) are among three cornerstone investors to pledge $350 million to Sunshine Oilsands' Hong Kong listing. The news comes a few days after the company said it would postpone its IPO to allow...
Actis launches tool to assess impact of energy investments
Emerging markets private equity firm Actis has unveiled a tool for assessing the sustainability of its energy investments. It aims to capture the key drivers that build value and pinpoint where improvements could be made.
CIC-backed EIG shuns US to pursue Hong Kong listing
EIG Global Energy Partners, the US-based energy sector specialist, will delist its investment vehicle from Goldman Sachs’ electronic platform and list in Hong Kong.
Sunshine Oilsands postpones Hong Kong IPO roadshow
Sunshine Oilsands, a Canadian oil exploration company backed by Hong Kong private equity firm Cross-Strait Common Development Fund as well as several Chinese state-owned enterprises (SOEs), is postponing its IPO roadshow to sometime next week.