Fundraising
Maine PERS commits $30m to Affinity’s fourth Asia fund
Affinity Equity Partners has secured a $30 million commitment for its fourth pan-Asia fund from the Maine Public Employees’ Retirement Systems (Maine PERS). It was one of four investments, each of the $30 million that the $11 billion pension plan announced...
MBK reaches first close of $1.25b on Fund III
MBK Partners has reached a first close of $1.25 billion on its third buyout fund, industry sources have told AVCJ. The vehicle launched in September and has a full target of $2.25 billion. MBK declined to comment.
India exits: Sticking point
India’s private equity industry is caught in a bind: LPs are wary of committing capital to GPs without evidence of exits, but weak capital markets – and in some cases an unwillingness to sell – are limiting liquidity
HarbourVest raises more than $3b for secondaries fund
HarbourVest Partners has exceeded the $3 billion target for its latest global secondary fund after about one year in the market. According to regulatory filings, Dover Street VIII has accumulated LP commitments of about $3.1 billion, slightly larger than...
Shanghai Private Equity Association to launch fund-of-funds
Shanghai Private Equity Association will partner with CITIC Securities and Bank of Shanghai to establish a RMB3 billion ($482 million) fund-of-funds.
China Life to support Suzhou infrastructure fund
China Life has partnered with the government of Suzhou to roll out a RMB10 billion ($1.6 billion) infrastructure fund. It said to be the first private equity infrastructure fund launched by a domestic insurer.
Mandarin Capital opens offices in Beijing, Munich
Sino-European private equity firm Mandarin Capital Partners is opening two new offices in Beijing and Munich, Alberto Forchielli, the firm's founding partner, told AVCJ. The moves come as the PE player is in the process of raising its EUR1 billion ($1.3...
CBay Systems founder moves into venture capital
V. Raman Kumar, the founder of CBay Systems, is setting up two venture capital funds targeting the domestic and international markets. The size of funds will be INR1 billion ($18 million) and INR2.5 billion, respectively.
Secura launches second Shariah compliant VC fund
Secura Investment Management, part of the Hi LITE group, has launched its second India-focused Shariah compliant venture capital fund with a size of INR500 million ($9 million).
SSG raises $400m Asia distress fund
International investors are currently gun-shy on India, with capital is leaving the country with alacrity, across all asset classes. For Asia-focused distressed investor SSG Capital Partners, India has become an attractive target market.
Anacacia seeks Aussie SME buyouts
With the established participants in Australia’s lower mid-market having graduated to fund sizes of A$250 million or more as they progressed through the cycles, and many smaller players struggling to raise money, Anacacia Capital finds itself in less...
FountainVest in rapid fundraise
FountainVest Partners reached a final close on its second fund at $1.35 billion last week, but the process was more or less completed in July when the China-focused GP announced a first close of $1 billion, about four months after launch.
Australia’s Anacacia reaches $129m second close
Australian GP Anacacia Capital has arrived at a second close of A$125 million ($129 million) for its second fund. The private equity firm has already exceeded its target of A$100 million and is on course to reach its hard cap of A$150 million.
Australia’s PEP targets $3.6b for Fund IV
Pacific Equity Partners (PEP) is targeting up to A$3.5 billion ($3.6 billion) for its fifth fund, including A$2 billion of core equity and a further $1-1.5 billion earmarked for a co-investment pool.
GPs must improve IR in tough fundraising environment - AVCJ Forum
It is imperative that GPs build better relationships with end investors if they hope to secure re-ups in an increasingly challenging fundraising environment, industry participants told the AVCJ Forum.
India Value Fund reduces fund size by 15%
India Value Fund Advisors (IVFA) has trimmed its fund size by 15%, returning $100 million of the approximately $700 million corpus to LPs in response to changes in the investment environment. Management fees charged on that $100 million since inception...
A question of discipline
Should managers be frowned upon for cutting fund sizes and returning capital to investors? No – provided the decision is strategically justified.
China’s Hina to launch vineyard fund
It was always just a matter of time before dedicated wine investment funds emerged to target China’s wealthy oenophiles. Wine is increasingly popular among the fashionable classes and the country recently surpassed the UK to become the world’s fifth-largest...
Dymon targets Singapore mid-market PE
Dymon Asia Private Equity (DAPE) sees a gap in the Singapore mid-market. With the likes of Baring Private Equity Asia and Navis Capital Partners having scaled up their fund corpuses to $1 billion or more in the last six years, ticket sizes have passed...
FountainVest closes Fund II at $1.35b
FountainVest Partners has closed its second China-focused fund at the hard cap of $1.35 billion after about eight months in the market. The vehicle is 40% larger than its predecessor with a large proportion of existing investors choosing to re-up.
Advent raises $10.8b for new buyout fund
Advent International has raised EUR8.5 billion ($10.8 billion) for its seventh global buyout fund, more than the EUR7 billion planned initially. The new vehicle, which launched officially in March, is one of the largest buyout funds raised since the start...
Phoenix Media to launch $300m fund
Phoenix Media is in the process of raising a $300 million private equity vehicle to invest in growth capital in Chinese media and culture companies. Hong Kong-listed broadcaster Phoenix TV is said to be one of the co-general partners of the fund.
Asia fundraising: In Volcker's shadow
With the Volcker Rule and Basel III compliance forcing US financial institutions to pull back from private equity, some Asian GPs are in a state of flux. New fundraising strategies are required
Asia fundraising: Emerging LPs
Led by a clutch of sovereign wealth funds, Asia’s emerging LPs are looking to boost their alternatives exposure. Fund managers in search of allocations must find out what makes these institutions tick