Fundraising
Blackstone in $3.1b first close on second Asia PE fund
The Blackstone Group has reached a first close of $3.1 billion on its second dedicated Asia private equity fund, which is already larger than Fund I.
COOs in Asia private equity: Horses for courses
The COO role is gradually becoming more prevalent in Asian private equity, but GPs struggle to find the right combination of financial skills and business acumen. The optimal candidate is often internal
Hillhouse targets $12b for separate buyout, growth funds
China's Hillhouse Capital has split its current fundraising effort into separate buyout and growth strategies – having raised a single pool in the previous vintage – and is seeking $12 billion across the two funds.
India's Info Edge targets $100m for debut fund
Info Edge India, the holding company for Indian jobs portal Naukri, is looking to raise INR7.5 billion ($100 million) for a debut venture capital fund.
Ardian raises $19b for global secondaries fund
Ardian has closed its eighth global secondaries fund with $19 billion in commitments, representing the largest-ever vehicle raised for the strategy. The total includes $5 billion for co-investment.
Singapore's Quadria closes second healthcare fund at $595m
Quadria Capital, a Singapore-headquartered private equity firm that invests in healthcare companies across India and Southeast Asia, has raised $595 million for its second fund.
Chinese guidance fund secures $21b in LP commitments
China’s Ministry of Finance has rallied state-owned enterprises (SOEs) and local governments to support a RMB147.2 billion ($20.9 billion) fund that will drive a transformation of the country's manufacturing sector.
L’Oréal makes LP commitment to Cathay VC fund
L’Oréal will support the second fund being raised by Cathay Innovation, the VC affiliate of Cathay Capital Private Equity. The company wants to build ties to the beauty tech start-up ecosystem in China, its second-largest market.
Fund manager due diligence: Culture club
Truly understanding a GP involves digging beneath the track record and presentations into the human dynamics that can make - or break - a team
Fund focus: EV Growth fills the gap
East Ventures, Sinar Mas Digital Ventures, and YJ Capital have raised $200 million for a fund that will target Southeast Asia's underserved Series B and above space
China targets $8.7b for guidance fund to drive SOE reform
China Reform Holdings has supported the launch of a national guidance fund with a target of RMB60 billion ($8.7 billion) that will focus on state-owned enterprise (SOE) restructuring.
Shiyu Capital closes second renminbi fund at $477m
Shiyu Capital, which focuses on growth-stage investments in Chinese healthcare companies, has closed its second renminbi-denominated fund at RMB3.2 billion ($477 million), beating the RMB3 billion target.
China distress specialist DCL seeks $500m for US dollar fund
DCL Investments, a China-based distressed debt and special situations manager, is targeting around $500 million for its first US dollar-denominated fund, hoping to leverage renewed interest from foreign investors in this space.
China's Source Code raises $570m for latest US dollar funds
Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), formerly a partner at Sequoia Capital China, has closed two new US dollar vehicles at $570 million.
LPs emphasize self-awareness in China GPs - AVCJ Forum
Chinese GPs that can identify where their strategies might go wrong – and therefore avoid problems before they emerge – are most likely to emerge as winners in a market characterized by rising competition and changing economic circumstances, LPs told...
Institutional investors: China access
Are concerns over trade and the economy causing US LPs to back away from Chinese private equity? The more pertinent question is whether - and how - they already have exposure to the market
FountainVest closes debut renminbi fund at $246.5m
FountainVest Partners, which has raised three US dollar-denominated China-focused funds, has closed its first renminbi vehicle at RMB1.7 billion ($246.5 million).
China’s Gaorong closes fourth US dollar fund at $500m
Chinese venture capital firm Gaorong Capital has raised $500 million for its fourth US dollar-denominated fund. The majority of commitments came from existing LPs, with two endowments coming in as new investors.
Australia's PEP hits $433m first close on secure assets fund
Pacific Equity Partners (PEP) has reached a first close of A$600 million ($433 million) on its secure assets fund, which invests in companies in Australia and New Zealand that generate annuity income but also offer opportunities for traditional private...
Long-term capital: The patient play
Permanent and long-term capital structures are an attractive proposition for a wide range of players in Asia’s PE market, but bringing them from theory into practice presents numerous challenges
Abraaj releases LPs from commitments to latest fund
The Abraaj Group is releasing investors from commitments made to its latest flagship fund – which targets growth markets in Asia and other regions – having previously decided to suspend the fundraising process in the wake of governance concerns.
Auto technology: Investment vehicles
New and old players are vying for market share as the global automotive industry experiences a multifaceted reboot. Investment inroads abound, but there is much uncertainty in the evolution
China insurance and PE: Get real
The asset management units of Chinese insurance companies can no longer launch debt-like products masquerading as private equity, amid concerns about rising corporate and local government debt burdens
Fintech funds: Treasuries apart
Investment strategies targeted exclusively at the convergence of financial services and technology have become commonplace. As competition picks up, success will depend on adopting skills and a global view