Temasek Holdings
Jack Ma's retirement as Alibaba CEO fuels IPO speculation
Jack Ma will step down as CEO of Alibaba Group in May ahead of the private equity-backed firm’s widely anticipated IPO. Ma, who will remain as chairman indicated that he wanted to hand over to a younger successor, telling employees that “the next generation...
Texas County & District invests $50m in RRJ's second fund
Texas County & District Retirement System (TCDRS) has committed $50 million to RRJ Capital’s second fund, which is targeting up to $5 billion. The private equity firm is run by Richard Ong, who previously co-founded China-focused Hopu Investment Management,...
Lafarge in talks with PE to sell part of India business
Lafarge is in talks with private equity and financial firms to sell 20-25% of its India unit for about $300 million. The divestment is part of a wider effort from the French cement maker to divest non-core assets and reduce debt levels to below EUR10...
PE-backed Bharti Infratel completes $763m IPO
Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, has raised around INR4.17 billion ($763 million) in India’s biggest IPO in two years.
Temasek invests $104m in Godrej's agribusiness unit
Temasek Holdings has paid INR5.72 billion ($104.5 million) for a 19.99% stake in Godrej Agrovet, an agribusiness subsidiary of Godrej Industries. The deal comprises primary and secondary tranches, with the former earmarked to support Godrej Agrovet’s...
PE-backed Bharti Infratel IPO oversubscribed
The $830 million IPO of Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, was oversubscribed by investors on Thursday. The intended flotation – which has been mooted for more than a year – will be the country’s largest in...
Sutherland Global Services to acquire Apollo's PE-backed BPO arm
Sutherland Global Services, a US-based business process and technology management services, has signed a definitive agreement to acquire Apollo Health Street (AHS), Apollo Hospitals’ healthcare business process outsourcing (BPO) arm. The company is part-owned...
PE-backed Bharti Infratel set for IPO next month – report
Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, is expected to launch its $900 million IPO next month. The intended flotation – which has been mooted for more than a year – will be the country’s largest in two years after...
Asia fundraising: Emerging LPs
Led by a clutch of sovereign wealth funds, Asia’s emerging LPs are looking to boost their alternatives exposure. Fund managers in search of allocations must find out what makes these institutions tick
Hedge fund Dymon branches into PE – report
Hedge fund manager Dymon Asia Capital is said to have launched a private equity vehicle with support from Singaporean sovereign wealth fund Temasek Holdings. It is the latest in a string of managers to offer both hedge fund and PE strategies under one...
CapitaLand sets up $215m housing PE fund in China
Singapore developer CapitaLand has closed its first value housing private equity fund, which will invest in affordable residential developments in China. It has a corpus of S$264 million ($215 million).
PE firms, sovereign funds support Alibaba's Yahoo buyback
China Investment Corporation (CIC), Boyu Capital, CITIC Capital and CDB Capital participated in a $3.9 billion equity issue by Alibaba Group alongside existing investors including Silver Lake, DST Global and Temasek Holdings. The financing was used to...
Goldman, Temasek to part-exit Bharti Infratel via $1b IPO
Goldman Sachs, Temasek and Nomura are among the investors planning to offload part of their shareholdings in the mobile phone tower unit of Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, which has filed for an IPO.
PE-backed Max India sells polypropylene film unit for $97m
Max India, which is backed by Goldman Sachs, International Financial Corporation (IFC) and Temasek Holdings, has sold its biaxially oriented polypropylene (BOPP) film division to Germany's Treofan for INR5.4 billion ($97 million). The divestment allows...
Indonesia caps foreign ownership of local banks at 40%
Foreign ownership of Indonesian banks will be capped at 40%, although exceptions will be made for listed banks with strong financial health and high levels of tier-one capital. On this basis, it appears that DBS Group’s $7.2 billion bid for Bank Danamon...
Temasek warns of volatility as annual profit declines
Temasek Holdings saw a marginal increase in the value of its portfolio to S$198 billion for the year ended March 2012, but net profit fell 16% to S$10.7 billion ($8.45 billion). The Singaporean sovereign wealth fund warned that the global economy remains...
CapitaMalls Asia raises $1b for China Development Fund III
CapitaMalls Asia, the shopping malls arm of Temasek-owned CapitaLand, has announced the establishment of its China Development Fund III with a fund size of $1 billion. The vehicle, with a fund life of eight years, will invest in the development of shopping...
Temasek talks up China, favors property, financials, healthcare
Temasek Holdings has reaffirmed its commitment to China, saying that urbanization and the rise of the middle classes will continue to drive the economy forward regardless of short-term concerns about slowing growth. Real estate, healthcare and energy...
RRJ Capital targeting $5b Asia fund – report
RRJ Capital, the private equity firm set up by former Hopu Investment Management executive Richard Ong, is looking to raise at least $5 billion for its second pan-Asian fund. The vehicle will follow its predecessor in focusing on China- and Southeast...
Hopu sells 6% stake in Chinese dairy firm Mengniu
Hopu Investment Management has sold its 6% stake in Hong Kong-listed Chinese daiy company China Mengniu Dairy for DKK1.7 billion ($289 million) to Denmark's Arla Foods.
Temasek buys stake in Asia-focused Ivanhoe Mines
Temasek Holdings has purchased a 5.5% stake in Canada’s Ivanhoe Mines, a move seen as part of ongoing efforts to increase the natural resources share of its portfolio. The transaction was channeled through Tembusu Capital, a private equity firm affiliated...
Temasek names Promeet Ghosh India MD
Temasek Holdings has appointed Promeet Ghosh as its first managing director level appointment in India. He will report to Singapore-based Rohit Sipahimalani and Lee Then Kiat who share responsibility for investments in the country.
Chinese online store Meilele receives $40m in second round funding
Chinese home furnishings e-tailer Meilele has received $40 million in second-round funding. The round was led by Singapore’s Vertex Venture, alongside Lightspeed Partners, Xianfeng Huaxing Group, LionRock Capital, and KTB Ventures.
PE-backed Chinese phone maker Xiaomi to get new funding
Chinese smartphone maker Xiaomi Technology is nearing the closing of a fundraising round that will value the company at $4 billion. The news comes after IDG Capital, Temasek Holdings and Qualcomm reportedly participated in a $90 million B-round of funding...