Primus Pacific Partners
GCS Capital finalizes Dexia asset management deal
GCS Capital has agreed to buy Dexia asset management (DAM) business shortly after entering into exclusive negotiations with the Belgo-French financial group. The Hong Kong-based private equity firm has also signed a strategic partnership agreement with...
Primus co-founder in aircraft leasing club deal
During a week in which it emerged that Primus Financial Holdings was no more, two of its co-founders reemerged in new guises. First, Dexia announced that it was in exclusive negotiations with GCS Capital, a financial services-focused PE firm run by GuocangHuan,...
PE-backed Chinese consortium to buy AIG’s aircraft leasing business
A Chinese consortium including a fund run by Wing-fai Ng, one of the co-founders of now-defunct Primus Financial Holdings, has agreed to buy up to 90% of International Lease Finance Corporation (ILFC) from American International Group (AIG). It is the...
Primus Financial shuts down fund
Primus Financial Holdings, the private equity firm set up by three former Citigroup bankers to invest in financial services assets across Asia, has closed its fund. The firm profited from an investment in New China Life Insurance but is best known for...
GCS Capital in talks to buy Dexia asset management unit
GCS Capital, a Hong Kong-based private equity firm, is in exclusive talks to buy Dexia’s asset management arm. It is estimated that the deal could be worth EUR500 million, lower than the EUR750 million Dexia was reportedly seeking when it put the asset...
Temasek president seeks winding up of Primus’ Singapore unit
The Singapore unit of Primus Pacific Partners is being sued by Lee Theng Kiat, president of Temasek Holdings, over S$67,802 ($53,760) in unpaid rent on a bungalow. According to papers filed with the Singapore High Court, Lee and his wife are seeking a...
Primus president resigns from New China Life Insurance
New China Life Insurance’s non-executive director Guocang Huan, who is also the president of Asian PE house Primus Pacific Partners, left the company on Monday.
In the market for Asia financials
Robert Morse quit his role CEO of Citigroup’s Asia Institutional Clients Group in 2008 to become managing director, chairman and co-CEO of Primus Financial Holdings. He discusses the perks and pitfalls of investing in the financial sector.
Does Taiwan still like buyouts?
The rejection of a KKR-led MBO of Yageo is yet more disheartening news for Taiwan’s PE community
VIDEO: Primus' Robert Morse
Robert Morse, managing director, CEO and co-chairman of Primus Financial Holdings, discusses with AVCJ TV the difficulties of conducting business in an increasingly crowded market, and notes the importance of loyal LPs when raising capital in strained...
Primus' suit against Hong Leong rejected
Primus Pacific Partners’ attempt to thwart Hong Leong Bank from taking over Malaysian banking lender EON Capital has been officially rejected by domestic courts, coming almost a year after Primus lodged the suit on the grounds that Hong Leong’s $1.6...
China Construction Bank targets Primus' EON Capital
China Construction Bank is said to be eyeing a stake acquisition in Malaysian bank EON Capital Bhd., backed by Primus Pacific Partners, and reportedly sent a letter of interest to the Malaysian central bank seeking permission to court EON’s backers...
AIG seeks Nan Shan sale after Primus lapse: reports
US insurance giant American International Group (AIG) is looking to sell its Taiwanese arm Nan Shan Life over the next two months for around $2 billion, according to local reports.
Which way for Asian private equity?
The release of CalPERS's latest fund performance results comes at an interesting time.
Taiwan Vice Premier Chen says private equity firms are welcome
Taiwanese Vice Premier Sean Chen has publicly stated that the government welcomes the participation of private equity funds that act as strategic investors to bring improvements in production and management expertise to Taiwanese companies.
Primus, China Strategic formally end Nan Shan bid in Taiwan
Hong Kong-listed China Strategic Holdings and financial investor partner Primus Financial Holdings have announced the formal termination of their $2.2 billion acquisition agreement for Taiwan’s Nan Shan Life Insurance effective Sept 20.
Taiwan's No.1 insurer Cathay Financial taps into private equity investment
Cathay Financial Holding Co., Taiwan’s largest listed financial services company, received formal approval by its board for its life insurance unit to invest up to $150 million in overseas private equity, as well as executing a purchase plan in local...
Nan Shan a no-go for Primus
The sale of AIG's Nan Shan Life Insurance unit to China Strategic and Primus Financial Holdings was poised to be one of Asia’s biggest private equity deals of the year, but following regulators’ rejection of a consortium’s $2.15 billion bid, it...
Regulators block Nan Shan sale to China Strategic and Primus tandem
Taiwan's Financial Supervisory Commission has rejected the $2.15 billion acquisition bid for AIG’s local unit Nan Shan Life Insurance launched by China Strategic and Primus Financial Holdings, with sources attributing their reservations to the consortium’s...
Taiwanese diplomat plans for Nan Shan counter bid
In an effort to thwart a consortium led by China Strategic and Primus Financial Holdings from taking control of AIG’s Taiwanese unit Nan Shan Life Insurance, retired Taiwanese diplomat Wang Shih-jung has set up a company financed by Japanese and Qatari...
Taiwan gives Nan Shan bid final review
Taiwanese officials are reportedly making their final determinations in deciding the fate of AIG’s local arm Nan Shan Life Insurance, the $2.15 billion acquisition target of a consortium led by China Strategic and Primus Financial Holdings.
Primus-backed EON sets vote date for Hong Leong bid
Primus Pacific Partners-backed EON Capital Bhd., a Malaysian lender, has been given until August 19 to decide on its acquisition by Hong Leong Bank, which launched a $1.6 billion bid for the company.
Chinatrust still in Primus Nan Shan process
A spokesperson for Taiwanese financial group Chinatrust Financial Holding, announced that the company still seeks a 30% stake in Nan Shan Life Insurance, the local unit of American International Group, currently the subject of a delayed $2.15 billion...
Regulators in a friendly mood?
Private equity in Asia Pacific has long had an ambivalent relationship with regulators and the region’s governments in general.