The Blackstone Group
Blackstone confirms China appointments
The Blackstone Group confirmed the appointments of Yi Luo and Edward Huang, both of whom will focus on the Greater China market. Luo joined in January as a senior managing director in the private equity firm’s Shanghai office, while Huang started work...
TPG rivals mull bids for Billabong – report
The Blackstone Group and KKR are reportedly considering bids for Billabong after the Australian surfwear company rejected TPG Capital’s A$841 million ($904 million) offer but said it was willing to engage with any party that make an attractive proposal.
Blackstone hires Morgan Stanley’s Ed Huang
The Blackstone Group has hired Ed Huang from Morgan Stanley Private Equity Asia (MSPEA) as a managing director for China. The appointment, confirmed to AVCJ by sources familiar with the situation, reflects Blackstone's ongoing efforts to build out its...
Narula to sell Lilliput, allowing Bain and TPG to exit
Lilliput, the kidswear brand that has been embroiled in bitter fight with shareholders Bain Capital and TPG Capital, plans to sell off its brands and retail business.
Blackstone, Carlyle agree $4b Reliance Infratel buyout
The Carlyle Group and The Blackstone Group have signed a term sheet to buy up to 95% of Reliance Communications’ telecoms tower unit, Reliance Infratel.
CIC loses real estate head after just two months
Patrick Wu, head of real estate at China Investment Corp. (CIC), resigned last week after just two months in the job. It follows others changes at senior management level in the sovereign wealth fund's real estate division.
Foreign RMB funds suffer from LP access troubles
With state-backed firms hesitant to commit and wealthy individuals unreliable, overseas private equity firms face a long slog to raise their renminbi funds
Thomas Cook plans to sell its Indian arm
Thomas Cook has initiated a process to sell its 77% stake in Thomas Cook India, a transaction intended to bring down its debt up to GBP890 million ($1.4 billion). Several Private equity investors are said to be potential suitors.
Slow progress for foreign RMB funds
Renminbi-denominated private equity funds have been one of the most important trends in the last few years. The market has grown tremendously with more than US$24 billion being raised in 2011 alone. Most of this capital has gone to local firms, especially...
Beacon India acquires 1.3% stake in PE-backed construction firm
Beacon India Private Equity Fund, a $200 Million Indian growth capital vehicle, has acquired a 1.3% stake in NCC, a listed construction and infrastructure enterprise backed by The Blackstone Group and ChrysCapital Advisors. The transaction is worth INR216.4...
Goldman Sachs to launch first energy-focused fund
Goldman Sachs plans to raise $2-3.5 billion for its first energy-focused private equity fund. The global vehicle, known as Broad Street Energy Partners, will target the oil, gas and power industries.
Reliance seeks loan from CDB
India’s second-largest mobile operator Reliance Communication, which has been struggling to sell its telecom tower arm, is in talks with China Development Bank (CDB) for a loan to restructure its debt.
PE investment in Indian real estate up 69% in 2011
Private equity investment in Indian real estate firms increased by 69% to $2.68 billion in 2011.
Carlyle, Blackstone in separate talks over Reliance Infratel
The Carlyle Group and The Blackstone Group are in separate talks with Reliance Communications concerning an investment in its telecom tower unit. A deal for Reliance Infratel could come in February or March, subject to agreements on its valuation.
GIC backs Canada’s Osum Oil Sands
Government of Singapore Investment Corp. (GIC) has participated in a $500 million investment in Osum Oil Sands Corp, which is looking to tap Canada’s oil sands and bitumen resources, through a private placement to a combination of new and existing investors.
Blackstone buys DLF Ackruti Info Parks for $153m
An affiliate of Blackstone Group has acquired a firm that owns a special economic zone in India from DLF, the country’s biggest real estate developer, for INR8.1 billion ($153 million).
Arctic-backed Living & Leisure receives $244m takeover bid
Living & Leisure Australia Group (LLA), the tourist attractions operator part-owned by Arctic Capital, has received a A$244 million ($244 million) takeover bid from private equity-backed Merlin Entertainments.
Yahoo unhappy with bids for its US, Asia businesses
Yahoo is unhappy with the with the low premium being offered by private equity firms looking to invest in the company as well as the discounts proposed by prospective buyers of its Asian subsidiaries, which may stall any deal.
Alibaba seeks $4b loan to support Yahoo buyback
Alibaba Group has approached lenders about financing part of the company’s buyback of a 40% stake currently held by Yahoo. The Chinese e-commerce firm is seeking a $4 billion loan to support the purchase.
Michael Chae: Blackstone to focus on China, Southeast Asia in 2012
Senior Managing Director and Head of Private Equity of Blackstone in Asia Pacific Michael Chae said that China and Southeast Asia will be the firm’s investment focus in 2012, referencing the consumer growth that the geographies are expected to see next...
Blackstone's Rob Johnson resurfaces at J.P. Morgan
J.P. Morgan Asset Management has appointed former Blackstone MD Rob Johnson as its head of global business development for China real estate.
Blackstone, Bain eye Yahoo bid
Blackstone and Bain Capital are reportedly nearing a bid to buy the whole of Yahoo that could value the company at more than $20 a share. Yahoo’s associates in China and Japan, Alibaba Group and Softbank Corp., may support the private equity consortium...
When private equity gets political
Those of you who are familiar with Hong Kong will know that the Special Administrative Region of China will be holding its elections for a new chief executive – the highest local government post – next year. While a number of individuals have expressed...
CIC, Greentown partner for real estate JV
China Investment Corporation (CIC) has teamed with domestic property developer Greentown Group to launch an RMB2 billion ($313.3 million) real estate joint venture that will build office buildings for local government bodies.