Fundraising
Asia fundraising: A divided market
Global and local players are in the market trying to raise new regional and country vehicles. The former can rely on institutional relationships and IR might to get the job done. The latter face a resources squeeze
Hina launches $100m wine fund
Hina Group, one of the leading Chinese private equity and M&A corporate finance boutiques, has teamed up with Richard Wollack, the founder of Premier Pacific Vineyards, to create the $100 million Hina Vineyard Fund. Capital will be raised from high net...
CDIB to set up a private equity fund in China
Taipei-based China Development Industrial Bank (CDIB), the investment banking unit of China Development Financial Holding, has teamed up with China’s state-owned Jiangsu High-Tech Investment Group to set up a RMB2 billion ($321 million) PE fund.
KV Asia reaches first close of more than $100m
KV Asia Capital has reached a first close on its debut fund of more than $100 million. The full target is $250 million, which will be deployed in Southeast Asia, with Indonesia expected to feature prominently.
Australia’s fundraising rebounds with foreign investor support
The fiscal year ended June 2012 was reportedly the best fundraising year for the Australian private equity and venture capital industry since 2007-2008, with more than A$3.3 billion ($3.4 billion) raised by 21 funds.
How much is too much?
KKR had received commitments of $6.2 billion for its 11th North American fund as of the end of September. The vehicle, which entered the market in early 2011, has attracted about $700 million from LPs in the last six months and questions are being asked...
Taiwan’s SinoPac to enter fund admin business
Taiwanese financial services company SinoPac plans to set up a fund administration unit in Hong Kong targeting private equity and hedge funds with less than $100 million in assets under management.
CapitaLand sets up $215m housing PE fund in China
Singapore developer CapitaLand has closed its first value housing private equity fund, which will invest in affordable residential developments in China. It has a corpus of S$264 million ($215 million).
Ex-CIC real estate head to launch investment fund
The former global head of real estate at China Investment Corporation (CIC) has launched an independent investment fund. According to regulatory filings in Hong Kong, Collin Lau was appointed director of Bei Capital Partners in June.
Hamilton Lane to ramp up Asia allocation to 15%
US-based gatekeeper Hamilton Lane is planning to allocate around 15% of its global portfolio to Asia, as investors look to capitalize on higher growth in the region.
Ex-China AMC fund manager registers PE vehicle in Qianhai
A former leading manager at China Asset Management (CAMC), one of the country’s largest domestic mutual fund providers, has registered a private equity firm in Qianhai, the development zone in Shenzhen through which renminbi-denominated funds will be...
China Renaissance targets $750m for fund III
China Renaissance Capital Investment (CRCI) is targeting $750 million for its third fund. China Harvest Fund III will make growth capital investments in Chinese companies, taking equity stakes of up to $75 million.
Australia’s Kaz Capital to launch venture fund
Australian boutique financial advisor Kaz Capital is planning a venture fund that will support small- and medium-sized enterprises (SMEs) in need of expansion capital. The company claims to have received conditional regulatory approval to establish an...
CITIC Securities targets up to $1.6b for RMB fund
CITIC Securities is targeting RMB5-10 billion ($798 million to $1.6 billion) for its first private equity fund, most of which will come from Chinese institutions, including government agencies. The vehicle will buy stakes in companies involved in M&A...
Azure Capital launches $94m property fund
India's Azure Capital is raising an INR5 billion ($94.10 million) real estate private equity fund that will target commercial properties across the top seven cities in the country. The new vehicle - India Realty Fund II (IRF2) – will be raised completely...
Asian PE fundraising slips in 3Q as RMB vehicles struggle
Asian private equity fundraising reached $10.8 billion in the third quarter of 2012, continuing a downward trend that stretches back 12 months, according to provisional data from AVCJ Research. Renminbi-denominated fundraising experienced the most acute...
Longreach eyes corporate carve-outs
After more than 800 days in the market, Longreach Capital Partners 2 reached a final close on September 30. It has been a challenging process that required the target corpus to be scaled back from $750 million to $400 million – but the fund is also...
3Q analysis: The bottom falls out of RMB fundraising
China US dollar funds attract more capital than renminbi vehicles; trade sales and secondary buyouts continue to gather pace; positive early signs for China buyouts
Fund-level due diligence: More than ticking boxes
Corrupt deals, agreements with the dishonest and lackluster returns can all be avoided by doing sufficient due diligence on a GP. But advisers say LPs in Asia sill aren’t doing enough
Terra Firma, CDB to launch infrastructure fund – report
UK-based private equity firm Terra Firma and China Development Bank (CDB) are reportedly planning to launch an energy infrastructure fund worth $3-5 billion at an investor meeting this week.
Longreach reaches final close of $400m for fund II
The Longreach Group has reached a final close of $400 million for its second fund. The private equity firm will continue targeting control investments in Japan and North Asia, with a particular focus on the mature industrial and technology space, financial...
IUVP rebrands as Kalaari Capital, closes $150m India VC fund
The founders of Indo US Venture Partners (IUVP) have established Kalaari Capital Advisors, a new fund manager that has raised a venture capital vehicle worth $150 million for the Indian market.
OPIC commits $135m to two Indian funds
Two Indian private equity funds - IndoSpace Logistics Parks II and BanyanTree Growth Capital II – have received an overall commitment of $135 million from Overseas Private Investment Corporation (OPIC).
Australian Super CEO hits out at PE fees
The chief executive of Australia’s largest industry superannuation fund has criticized the level of fees charged by private equity fund managers and argues that their compensation model needs to change.