Fundraising
WL Ross struggles to raise new fund
WL Ross & Co. has cut its target for its latest fund to $2-2.5 billion, having raised little more than one tenth of the $4 billion it set out to attract last year, The Wall Street Journal reported, citing people familiar with the situation.
Road operator Ashoka Buildcon seeks $150m
Indian roads and bridges operator Ashoka Buildcon has entered talks with potential private equity and strategic investors to raise $150 million to finance seven road projects.
TPG targets up to $5b for Asia-focused fund
TPG Capital is reportedly raising the largest Asia-focused fund since the onset of the global economic crisis, targeting $4-5 billion.
Asia Pacific LPs put up nearly 25% of EQT's $6.5b fund
EQT Partners has raised EUR4.75 billion ($6.5 billion) for its sixth European buyout fund, with Asia Pacific LPs accounting for 23% of commitments, up from just 5% in the firm’s previous vehicle. According to people familiar with the situation, Chinese...
Intel Capital plans second India fund
Intel Capital is planning to launch its second India-focused private equity fund. The company, which spun out from chip maker Intel, is targeting a raise of $250 million, investments bankers told The Business Standard.
Third Quarter 2011: Venture capital deals steal the spotlight as buyouts wane
Third quarter analysis: Early-stage deals gain traction in Asia; mixed messages on China fundraising; weak public markets see trade and secondary sales thrive
Japanese LPs: Conservative investors
With Japanese LPs still wary of private equity investing amidst ongoing global economic uncertainty, GPs find it difficult to secure commitments
China Science & Merchants launches first USD fund
China Science & Merchants (CSM) has launched its first US dollar-denominated fund and is seeking to raise $1 billion. EME Capital has been appointed global coordinator for the fundraising.
Northern Light VC closes third USD fund at $400m
China-focused early-stage investor Northern Light Venture Capital (NLVC) has closed its third US dollar fund, together with its parallel funds, at $400 million.
Partners Group launches global fund in Sydney
Partners Group has set up a new global private equity fund based in Sydney, offering smaller institutional and retail investors access to deals normally only available to large institutions.
Bain gets $1.1b recapitalization loan for Japan's Bellsystem24
Bain Capital has completed a JPY87.5 billion ($1.1 billion) recapitalization for portfolio company Bellsystem24, a telemarketing firm specializing in call centers, according to Basis Point.
PAG shows appetite for distress
Interest in Asian distressed assets appears to be living up to the hype, with PAG last week reaching a final close of $900 million a regional special situations fund. Several investments have already been made and more are in the pipeline, a source familiar...
Tata Opportunities Fund makes second close at $550m
Tata Capital has completed the second close of its latest private equity vehicle, the Tata Opportunities Fund LP, at $550 million.
Accel nears close of $150m early-stage India fund
Accel Partners is reportedly on track to raise its first India-dedicated fund - a $150 million early-stage investment vehicle – and is expected to announce a close in the coming weeks.
HDFC targets $600m property fund
Housing Development Finance Corp. (HDFC), India’s largest mortgage lender, is looking to raise a $600 million fund from overseas investors. It will be the firm’s property-focused vehicle.
Global private equity fundraising down 46% in 3Q
Global fundraising by private equity vehicles closing in the third quarter was down 46% on the previous quarter, according to Preqin. A total of 97 buyout funds raised $44.8 billion in the three months ended in September compared to $82.8 billion raised...
ASK Group, Pravi Capital to launch joint PE fund
Mumbai-based financial services firm ASK Group has teamed with Pravi Capital Advisors to launch a private equity fund, with a view to investing $200 in domestic companies.
Asia LPs are raising PE allocations, says Warburg Pincus' Landy
Joseph Landy, co-president of Warburg Pincus, said that limited partners in Asia are maintaining or increasing their allocations to private equity on a percentage basis, despite the global economic downturn.
Tano reaches $97m second close on India fund
Tano Capital has reached a $97 million second close on its latest India-focused vehicle, Tano India Private Equity Fund II, which has a final target of $150 million. The fund will look for growth capital investments in sectors such as infrastructure,...
VC-backed Newsummit in $100m JV with US biomed fund
Sequoia-backed Newsummit Pharmaceutical Group, a biomed developer based in Shanghai, has partnered with Cleveland Bio Fund (CBF) to launch a $100 million vehicle to invest in American medical device companies.
Submit your nominations for the 2011 AVCJ Awards
Diligent readers will recall that we’ve first announced in the August 30 issue of AVCJ that nominations for our 2011 AVCJ Asian Private Equity & Venture Capital Awards are open – to readers as well as the rest of the private equity industry.
Global buyout firms warn of tightening credit markets
Henry Kravis, co-founder of KKR, said that private equity deals are becoming more expensive as debt markets tighten and the cost of capital goes up.
Blackstone raises half its $781m RMB-denominated fund
Blackstone Group has reached the halfway point in fundraising for its RMB5 billion ($781.3 million) debut renminbi-denominated fund, said Michael Sotirhos, senior managing director at the buyout firm.
Hiroyuki Watanabe to launch tech-focused venture fund
Former general manager of internet services firm NGI Group Hiroyuki Watanabe has spun out to launch a maiden venture fund.