PAG
PAG eyes Southeast Asia, targets $1b in realizations - AVCJ Forum
PAG, a pan-Asian GP that has so far invested only in China, expects to break into the Southeast Asia market within the next year. Weijian Shan, the firm’s chairman and CEO, added that the team is also on course to realize in excess of $1 billion from...
Q&A: PAG's Weijian Shan
Weijian Shan, chairman and CEO of PAG, discusses China exit challenges, dealing with company founders in control investment situations, and picking businesses that are less likely to be swamped by local competition
Governance issues could undermine Japan's economic reforms - AVCJ Forum
Prime Minister Shinzo Abe’s economic reforms have provided a boost for Japanese private equity but issues surrounding corporate governance continue to be a barrier to opportunities, industry participants told the AVCJ Japan Forum.
TPG eyes $2b second close on Asia fund, reduces final target – report
TPG Capital is said to be approaching a second close of $2 billion on its sixth Asian fund. The private equity firm has reduced the final target to $3.5 billion from $4 billion - it was originally said to be seeking $5 billion - and expects to reach a...
PAG agrees $150m investment in Chinese property developer
PAG’s absolute returns division will invest in China-focused shopping mall operator Zall Development Group through a $100 million convertible bond issue, with the option to subscribe to a further $50 million worth of bonds. Assuming full conversion,...
PAG special sits fund invests $125m in China property developer
PAG will invest in real estate developer China South City Holdings through the purchase of HK$975 million ($125.6 million) in convertible notes. The proceeds will be used to support properties under development and refinance a portion of existing debt.
AVCJ at 25: Weijian Shan of PAG
Weijian Shan, chairman and CEO of PAG, made his name in private equity turning around troubled companies for Newbridge Capital. Two bank deals helped open international investors’ eyes to the Asia buyout opportunity
PAG in partial exit from Haitong Securities
PAG has made a partial exit from Haitong Securities, 10 months after participating in the Chinese brokerage’s IPO as a cornerstone investor.
Asia Awards: Fundraising of the Year – PAG
Given the challenging fundraising environment, GPs – especially first-time fund managers – should expect the marketing process to be at best protracted and at worst impossible. The notion doesn’t apply to this year’s winner of the Fundraising...
AVCJ at 25: Turning points
To mark the 25th anniversary of Asian Venture Capital Journal, we highlight five key phases in the development of asset class in Asia and talk to the individuals involved. Two of the phases are births – of a sort – and the other three are crises,...
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...
Global buyout firms see rich pickings in Japan – AVCJ Forum
The scope for private equity buyouts in Japan is widening due to falling public market valuations and clear opportunities for value-add within portfolio companies, according to panelists at the AVCJ Japan Forum, which opened in Tokyo on Thursday.
PAG announces final close of $2.5b on Asia fund
PAG has announced a final close on its debut private equity fund at $2.5 billion. PAG Asia I is a pan-regional buyout vehicle with a particular focus on China. The vehicle is slightly larger than Baring Private Equity Asia's fifth vehicle, which closed...
China biotech: Elusive innovation?
PE and VC investors want to leverage China’s rapidly growing biotech industry, but few firms have a proven ability to commercialize their innovations in drug development. Change will come, gradually.
Cornerstone investors: Public market props
Weak investor sentiment means that many Asian IPOs need cornerstone investors to cover part of the offering and provide momentum. Why are private equity firms getting in on the action?
Q2 analysis: Private equity goes public
Second-quarter analysis: Low public market valuations create investment opportunities; China fundraising slows; private equity firms perform cornerstone role in Asia IPOs.
Bain raises $2.3 billion for second Asia fund
Bain Capital has completed fundraising for its second Asia fund at $2.3 billion, managing director Craig Boyce said at the AVCJ USA Forum in New York on Tuesday. He added that $300 million of the corpus was raised from Bain executives. The fund had a...
KKR reaches halfway point on $6b Asia fund
KKR has reached the halfway point in fundraising for its second Asia fund, receiving more than $3 billion in commitments. According to a regulatory filing, third-party investors have pledged $2.76 billion to KKR Asian Fund II, with general partners putting...
KKR receives $225m from Oregon Investment Council
KKR has won a $225 million commitment from the Oregon Investment Council for its second Asia buyout fund. The buyout firm is currently raising around $6 billion for its KKR Asian Fund II, which will invest across the region.
KKR raises one-third of $6b Asia fund – report
KKR has reportedly attracted commitments of $2 billion in the first round of capital raising for its new Asia fund, which has a final target of as much as $6 billion. The news comes after The Carlyle Group made initial approaches to investors regarding...
Baring backs Yongda Auto IPO
Baring Private Equity has become a cornerstone investor in the IPO of China Yongda Automobile Services, the number-one BMW dealer in China. The company could raise up to $435 million through a listing in Hong Kong.
CalPERS commits $500m to Blackstone, $100m to PAG
California Public Employees’ Retirement System (CalPERS), the biggest US public pension fund, is going to commit $500 million to a managed account overseen by Blackstone Group. Another $100 million will be distributed to Hong Kong-based PAG.
PAG buys portfolio companies from Harmony Capital
PAG has taken full ownership of Harmony Investment Fund, and its associated portfolio companies, from Singapore-based Harmony Capital Management, sources familiar with the development told AVCJ.
PE-backed Haitong Securities raises $1.7b in Hong Kong IPO
Shanghai-listed brokerage Haitong Securities, China's second-biggest brokerage by assets, has raised HK$13 billion ($1.7 billion) in Hong Kong’s biggest IPO since December of last year.