Fundraising
Silk Road Finance enters Myanmar
Frontier markets-focused investment bank Silk Road Finance has set up a Myanmar subsidiary and won a mandate to raise a private equity and venture capital fund dedicated to investing in the country.
Ping An launches $157m venture capital fund
Ping An Insurance, the world's second-largest life insurer by market value, has established a RMB1 billion ($157 million) venture capital fund. It will target sectors including financial services, consumer products, healthcare, automobiles and tech, media...
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...
Asia fundraising: A box-checking exercise
Was I surprised last week to find out that FountainVest Partners had accumulated more than 80% of the capital targeted for its second China fund after less than five months on the road? Not particularly. In a difficult fundraising environment, this particular...
Clearwater gets $575m for fund IV
Profit warnings issued by Chinese companies in recent weeks suggest that the corporate sector is feeling the effects of slowing economic growth. Industrial profit was down 2.2% in the first half of 2012, compared to a 28.7% gain in the corresponding period...
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...
Macquarie raises $625m for Philippines’ first infra fund
Macquarie Group has announced a first and final close on $625 million for its Philippine Investment Alliance for Infrastructure (PINAI). It is the first-ever Philippines-dedicated infrastructure fund.
KBank to launch Thailand's first infrastructure fund
Kasikornbank, the financial adviser to Solar Power, a subsidiary of Thailand's biggest solar-farm developer SPCG, is in the process of raising the country's first infrastructure fund. It is targeting THB5 billion ($158 million).
SAFE commits $500m to Blackstone property fund – report
China’s State Administration of Foreign Exchange (SAFE) has reportedly committed $500 million to The Blackstone Group’s latest real estate private equity fund. Blackstone Real Estate Partners VII has proved popular with investors and Stephen Schwarzman,...
Morrison & Co raising $1b for NZ infra fund
Australasian infrastructure investor Morrison & Co. is reportedly looking to raise up to $1 billion for a private equity fund that will target low-risk global infrastructure projects.
Baring PE India could raise $700m fourth fund – report
Baring Private Equity Partners India is reportedly considering the launch of a fourth fund by 2014 that would target $500-700 million. The vehicle’s main focus would be high-growth sectors.
America’s Skybridge to launch $500m Asia vehicle
US alternative investment manager SkyBridge Capital is planning to launch an Asia-focused fund next year worth $250-500 million, according to the firm’s founder.
Clearwater reaches final close of $575m on fourth fund
Clearwater Capital Partners has closed its latest Asia credit and special situations fund at $575 million. It is the first time the private equity firm has gone to the market since 2007, when it raised a greater-than-expected $900 million for Clearwater...
Australia’s lower mid-market retains its appeal
Successful fundraises by CHAMP Ventures and Archer Capital Growth Funds suggest that foreign LPs are willing to fill the gap left by Australian institutions. Performance and consistency remain the key factors
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...
FountainVest reaches first close of $1b on second China fund
FountainVest Partners has reached a first close of just over $1 billion on its second China-focused fund. The vehicle has only been in the market for about four months, but it is already nearing its full target of $1.25 billion. Sources familiar with...
Red Fort to raise $500m for third fund - report
Red Fort Capital Advisors is reportedly planning to raise $500 million next year for its third Indian real estate fund.
Coller closes new secondaries fund above target at $5.5b
Coller Capital has reached a final close of $5.5 billion on its latest global secondaries fund. The new vehicle is larger than its predecessor, which closed in 2007 at $4.8 billion, and above the initial fundraising target of $5 billion. The fund has...
China Mining United to raise second investment fund
China Mining United Fund (CMUF), a Beijing-based private investment company focuses on mining-related investments, is planning to raise a second fund to target offshore iron-ore and metal companies.
Saratoga aims for differentiation
When Saratoga Capital was preparing to launch its third fund in July 2011, the elephant in the room was Northstar Pacific Partners. A few months earlier Northstar closed its own third fund at $820 million. Would LPs still be keen on when Saratoga came...
Hony bets on China convertibility experiment
Hony Capital is set to become the first private equity player to enter the Shenzhen-Qianhai new business zone, a pilot project for greater renminbi convertibility. John Zhao, Hony’s CEO, said the company may raise its next renminbi-denominated fund...
Leopard Capital reaches $20m first close on Haiti fund
Southeast Asia-focused frontier investor Leopard Capital has reached a first close of $20 million on the first dedicated Haiti fund raised since the 2010 earthquake. The final target is $40-75 million.
Bain closes second Asia fund at $2.3b
A host of leading PE firms is in the market, seeking to raise pan-Asia funds of $2 billion or more. Last week, Bain Capital became the first to cross the finish line. Its second regional fund closed at $2.3 billion, roughly halfway between the initial...
Pantheon closes sixth Asia fund at over $700m
Pantheon has secured more than $700 million for its sixth Asia-focused fund-of-funds, sources confirmed to AVCJ. The amount raised for Pantheon Asia Fund VI surpasses earlier speculations which put the amount at $500-600 million.