Outbound investment
Baird teams up with Axis Capital for cross-border investment banking
International asset manager Baird is forming a strategic alliance with Axis Capital, the investment banking subsidiary of India’s Axis Bank, to focus on cross-border M&A between India, Europe and the US.
Oaktree-backed Fusheng buys German air compressor maker
Oaktree Capital Management-backed Fusheng Industrial, Greater China's biggest maker of industrial air compressors, has acquired its German rival ALMiG Kompressoren. ALMiG management has re-invested in the merged entity.
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...
Fosun gets 20% stake in Taiwan bakery store
Fosun has invested NT$360 million ($12.3 million) to acquire a 20% stake in Taiwan’s Vigor Kobo, a bakery chain that produces traditional cakes and pastries. The deal is said to represent the first Chinese conglomerate's first foray into Taiwan’s...
CDIB Capital invests in US-based Smith-Cooper
CDIB Capital, the overseas investment arm of China Development Financial Holding Corporation, has invested in Smith-Cooper International, a US-based manufacturer of pipe, valves and fittings. Blue Point Capital Partners also participated in the funding...
Fosun bids for Greek gambling monopoly OPAP
Fosun has expressed interest in buying a 33% stake in Greek gambling monopoly Hellenic Football Prognostics Organization (OPAP), the country's privatization agency Hellenic Republic Asset Development Fund (HRADF) said on Saturday.
CIRC implements new rule on foreign PE investments
The China Insurance Regulatory Commission (CIRC) has issued the long-awaited regulation on overseas investments made by domestic insurers, including commitments to private equity funds. Qualified insurance companies are now permitted to invest in 25 developed...
Hong Kong PE firm backs heart failure treatment
Hong Kong-based Themes Investment Partners has led a $20 million equity financing round in LoneStar Heart, a California-based biomedical company developing new therapies for patients with heart failure.
Korea’s outbound mandate
Despite numerous government initiatives promoting overseas M&A, Korean conglomerates outside the energy space are still relatively conservative. Can private equity help turn the tide?
Chinese bidder to buy PE-backed KraussMaffei – report
A Chinese machinery group is reportedly in exclusive talks with US-based Madison Capital to buy its German rival KraussMaffei Technologies. The deal - which is likely to fetch as much as EUR700 million ($908 million) - would be the latest in a string...
Corporate Japan more open to PE partnerships – AVCJ Forum
Corporate Japan is more open to the idea of working with private equity partners, but ensuring alignment of interests remains a challenge, according to David Shen, regional managing director of Olympus Capital Holdings Asia.
Carlyle-backed Haier offers $705m for Fisher & Paykel
Carlyle-backed Haier Group has put in a NZ$869 million ($705 million) buyout offer for Fisher & Paykel Appliances (F&P), the New Zealand-based kitchen and appliance manufacturer. The Chinese company is willing to pay NZ$1.20 per share in cash - a 15.4%...
State banks launch Sino-French fund
The role of Chinese PE firms in outbound investment is poorly defined: In the absence of clear guidelines, participants must win approval from every single regulator. One way to avoid the red tape is by partnering with a government-backed entity, which...
China investment in Europe surges in second quarter
China’s outbound direct investment reached $24 billion in the second quarter of 2012, up 67% year-on-year, according to a research published by Sino-European private equity firm A Capital. Investment in Europe – which accounts for 48% of total deals...
China, Russia sovereign funds invest in forestry firm
China and Russia’s sovereign wealth funds will invest $200 million for a minority stake in Russia Forest Products. This will be the first investment channeled through the Russia-China Investment Fund, a joint private-equity fund established by China...
CDB forms $189m cross-border fund with France
China Development Bank (CDB) has teamed up French state-owned bank Caisse des Dépôts to create a EUR150 million ($189 million) fund to promote the international expansion of French and Chinese small- and medium-sized enterprise (SMEs). Each party will...
Japan outbound investment: Go local to go global
Cash-rich corporates have led the surge in outbound investment from Japan, buoyed by easy access to debt and the strength of the yen. What role are Japanese GPs playing in this buying spree?
KT, NPS, Korea Post set up outbound M&A fund
Korean telecom giant KT Corporation has teamed up with the National Pension Fund (NPS) and Korea Post to form a KRW1 trillion ($883 billion) fund that will make acquisitions overseas. It is the latest of several initiatives launched by Korean corporations...
Shandong Heavy invests $922m in PE-backed Kion
Weichai Power, a Chinese automotive and equipment manufacturer owned by Shandong Heavy Industry, will invest EUR738 million ($922 million) in Kion, the German forklift truckmaker backed by KKR and Goldman Sachs. It is the largest Chinese direct investment...
Mandarin Capital warned CDB ahead of Suntech fraud scandal
Sino-Italian PE player Mandarin Capital Partners advised China Development Bank (CDB) as early as three years ago that it shouldn't invest in Suntech Power Holdings' southern Italy initiative due to concerns about fraud. The Chinese solar company has...
Hony, GCS named preferred bidders for Dexia unit – report
Hony Capital has teamed up with GCS Capital, a PE firm founded by former investment banker Guocang Huan, to buy the asset management arm Dexia in a deal worth EUR500 million ($615 million). The Franco-Belgian financial group is one of the biggest victims...
China’s PiYi Investment to fund US companies
PiYi Investment Management, a Chinese private equity manager for high-net worth investors, has teamed up with Wisconsin Economic Development Corporation (WEDC) in the US to invest $100 million in Wisconsin companies.
US-China start-up incubator launches accelerator program
InnoSpring, Silicon Valley’s first US-China technology start-up incubator, has launched a six-month accelerator program targeting companies in mobile internet, cleantech and healthcare IT industries.
A Capital backs Bang & Olufsen for China growth
A Capital has teamed up with Chinese luxury goods distributor Sparkle Roll to pay $30 million for a 7.71% stake in Denmark's Bang & Olufsen (B&O). The electronics manufacturer is looking to increase sales in China to offset weak demand in Europe and the...