Chinese online game developer Giant Interactive Group, which was taken private by a consortium of PE investors in conjunction with the company’s CEO, has completed a backdoor listing in Shenzhen that values the business at RMB13.1 billion ($2 billion).
Hony Capital and China Investment Corporation (CIC) are among the cornerstone investors for a HK$8.7 billion ($1.1 billion) Hong Kong IPO for Bank of China’s aircraft leasing business, BOC Aviation.
Wanda Cinema Line, China’s largest cinema chain operator, plans to acquire its movie-making affiliate Wanda Media, which is backed by several PE investors, for RMB37.2 billion ($5.7 billion) in a cash and stock swap.
China-focused GP Hony Capital has raised $2.7 billion for its latest fund, with the formal closing expected to happen next week. The firm reached a first close of $1 billion in late 2015.
Hony Capital has agreed to sell its 11.72% stake in Australia-listed oil and gas supplier Santos to ENN Group, a leading Chinese privately-held gas distributor, for $755 million.
Hospitals have emerged as a phenomenally popular target for private equity in China, but it may take time for ambitious growth projections to be realized
Hony Capital, CITIC Private Equity and Sequoia Capital are set to exit Happigo Home Shopping, a Shenzhen-listed online and TV shopping subsidiary of Hunan TV.
Hony Capital has led a RMB500 million ($77 million) Series B round for Shanghai-based boutique entertainment studio Linmon Pictures.
China’s Legend Holdings and Hony Capital have led a Series F round for an Asian expansion by WeWork, a US provider of collaborative workspaces for entrepreneurs and small businesses.
Shanghai Chengtou Holding, a Shanghai-listed property developer which is also a portfolio company of Hony Capital, has committed RMB400 million ($62 million) to the GP’s latest China fund.
From Alibaba Group to Wanda Group, Chinese companies are looking to tighten their hold on the media value chain, moving upstream and downstream. Private equity can profit from this evolving ecosystem
Hony Capital has agreed to invest an additional RMB599 million ($91 million) hotel operator Shanghai Jinjiang International alongside other financial and strategic investors.
Hony Capital has reached a first close of $1 billion on its new Greater China-focused fund and raised an additional $250 million towards a second close.
China-focused private equity investors are modifying their investment approaches in the face of a challenging economic environment and ongoing overcapacity issues.
China’s HNA Tourism Group has agreed to invest $500 million for a 24.1% stake in Tuniu, a US-listed Chinese online package tour provider that has several PE and VC investors.
China's Hony Capital will buy A$500 million ($381 million) worth of shares in Australia-based oil and gas supplier Santos, as part of the company's bid to cut debt by raising A$3.5 billion.
The liberalization of China’s services sector represents a significant opportunity for private equity, although investors must think carefully about targeting appropriate areas and finding the right partners.
With China’s public markets still dogged by uncertainty – and, at time of writing, new share offerings suspended – PE investors are looking at other options. Trades in particular are getting more traction
Chinese online game developer Giant Interactive Group, which was taken private last year by a consortium of PE investors in conjunction with the company’s CEO, is seeking to re-list in Shenzhen through a reverse merger.
Hony Capital is looking to raise $2 billion for its latest Greater China-focused fund. A first close of $1 billion is expected in mid-October.
A group of PE backers, including The Carlyle Group and Actis Capital, are set to exit Chinese budget hotel chain 7 Days Group as industry peer Shanghai Jin Jiang Hotels agreed to acquire a majority stake in the company for RMB8.3 billion ($1.3 billion).
Hony Capital will continue to help Chinese companies – both private and state-owned enterprises (SOEs) – with business transformation, despite weak global investor sentiment due to the country’s slowing economy.
Alibaba Group has agreed to invest RMB28.3 billion ($4.63 billion) in Suning Commerce, a leading Chinese consumer electronics retail chain backed by Hony Capital, in exchange for a 19.99% stake.
China's equities wobble is unlikely to discourage companies from local listings, and a rise in renminbi fundraising could result; Asia investment hits record high; public market sales dominate exit activity