Financial Services
Carlyle in second-largest India exit of the year
The Carlyle Group's $830 million exit from Indian mortgage lender Housing Development Finance Corp. (HDFC) represents the private equity firm’s largest divestment in Asia this year. It is also a welcome boost for investors keen to see India address...
Cerberus to exit Japan’s Aozora Bank
Cerberus Capital is planning to sell its $2.5 billion stake in Japanese lender Aozora Bank after a 12-year holding period.
LeapFrog buys 15% of India’s Mahindra Insurance for $15m
LeapFrog Investments, a firm focusing on microinsurance for the world's poor, has bought a 15% stake in India’s Mahindra Insurance Brokers (MIBL), for INR804.1 million (nearly $15 million).
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.
Blackstone ups Financial Technologies stake to 6%
The Blackstone Group has increased its stake in financial services company Financial Technologies India to more than 6% through open market transactions.
Creation Investments leads $6.4m Sonata Finance round
Sonata Finance, an Indian microfinance institution (MFI), has raised INR350 million ($6.4 million) in a Series D financing round led by Chicago-based Creation Investments. Promoter Anup Kumar Singh and two existing investors in the company - family office...
Temasek, Bain in race for TPG's Shriram Transport stake - report
Temasek Holdings, Bain Capital and Piramal Group, a conglomerate run by Ajay Piramal, are reportedly leading the race to acquire TPG Capital's 20% stake in Shriram Transport Finance Corp (STFC), one of the leading commercial vehicle lenders in India.
Carlyle, Multiples back South Indian Bank
The Carlyle Group and Multiples Alternate Asset Management have participated in a qualified institutional placement (QIP) for South Indian Bank, which raised INR4.4 billion ($80 million) from eight investors.
Carlyle-backed China Pacific taps sovereign funds
China Pacific Insurance, a portfolio company of The Carlyle Group, has sold HK$10.4 billion ($1.3 billion) in new shares to Government of Singapore Investment Corp. (GIC), Norges Bank and Abu Dhabi Investment Authority (ADIA).
Warburg Pincus gets FIPB approval for Future Capital deal
Warburg Pincus has won approval from India’s Foreign Investment Promotion Board (FIPB) for a INR8.08 billion ($145 million) investment in non-bank finance company (NBFC) Future Capital Holdings.
CIC trims financials exposure with partial exit from BlackRock
China Investment Corporation (CIC) has exited most of its holding in asset manager BlackRock as part of a wider effort to reduce its exposure to international financial institutions.
India regulator pulls plug on ACA PE’s Repco Home deal
The Securities and Exchange Board of India (SEBI) has vetoed ACA Private Equity Trust’s proposed investment into Repco Home Finance because it contravenes the country’s venture capital regulations.
Crescent wins investor support after raising ClearView offer
Crescent Capital Partners has improved its buyout offer for Australian financial services provider ClearView Wealth, winning the support of leading shareholder Guinness Peat Group (GPG). The private equity firm is now offering A$0.55 per share, up from...
Cerberus-backed Aozora unveils plan to repay bailout cash
Aozora Bank, the Japanese lender in which Cerberus Capital holds a large stake, has pledged to repay JPY227.6 billion ($2.9 billion) in bailout money received during Japan’s financial crisis. The sum will be repaid over a 10-year period ending before...
Actis invests $40m in AGS Transact Technologies
Actis has invested $40 million in TPG-backed AGS Transact Technologies (AGS), one of the leading automatic teller machine (ATM) outsourcing and payments company in India.
Lok Capital ups stake in Ujjivan MFI, Bellwether exits
Lok Capital has reportedly upped its stake in India’s Ujjivan Microfinance by acquiring the 7% held by microfinance investor Bellwether. Another shareholder is set to exit its stake by the end of August.
History lessons of PE in Asia
With 2012 marking the 25th anniversary of the AVCJ Hong Kong Forum – and, give or take a year, the Asian Venture Capital Journal itself – we have been taking a trip down memory lane for some special content to be released later in the year. This involves...
Accura Infotech in talks to raise $36m from PE firms
Mumbai-based Accura Infotech, which installs automated teller machines (ATMs), is in advanced talks with private equity investors to raise up to INR2 billion ($36 million) to set up and operate ATMs for public sector banks in Uttar Pradesh. The company...
India’s Vistaar receives $7m from VC players
Bangalore-based small enterprise financing company Vistaar Financial Services has raised INR400 million ($7.1 million) in Series B funding from Lok Capital and Omidyar Network as well as existing investors Elevar Equity and SVB Capital Partners.
Baring, ICICI Venture plan Karvy exit – report
Baring Private Equity Asia and ICICI Venture Funds Management, the private equity arm of India’s ICICI Bank, are reportedly in talks to sell their 31% stake in Karvy Stock Broking (KSBL).
PE firms target ING’s Asian insurance assets – report
ING is said to be in talks with several parties, including Apollo Global Management, J.C. Flowers & Co. and a team backed by The Blackstone Group, over the sale of different parts of its Asian life insurance operations. The initial plan was to divest...
Polaris invests in Japan's Myland Real Estate
Polaris Capital Group has acquired a 30% voting stake in Myland Real Estate through its second country-focused fund. The investment is part of the Japanese property broker's wider strategy to expand its business in preparation for an IPO in the next couple...
Warburg’s Future Capital offer faces delays
Warburg Pincus’ offer to buy a 26% stake in India's Future Capital Holdings (FCH), the financial services unit of the Future Group, has been delayed despite reports that the $100-125 million deal was finalized last month.
Korea’s Woori sale fails yet again as no bidders materialize
The South Korean government’s latest attempt to exit its controlling stake in Woori Finance Holdings has failed after no one submitted a preliminary bid. The country’s financial regulator subsequently said “it would be difficult to mount another...