The Blackstone Group
Blackstone raises half its $781m RMB-denominated fund
Blackstone Group has reached the halfway point in fundraising for its RMB5 billion ($781.3 million) debut renminbi-denominated fund, said Michael Sotirhos, senior managing director at the buyout firm.
Blackstone jettisons India asset management interests
Blackstone Group is exiting India Fund Inc., its largest India-focused closed-end mutual fund scheme, to Aberdeen Asset Management Asia.
Blackstone to exit first Chinese property investment
Blackstone Group has agreed to sell its 95% stake in Shanghai’s Channel 1 shopping mall to Hong Kong-based property group New World Development for RMB1.46 billion ($229 million).
CIC in talks over potential investment in Northern Rock
China Investment Corp. (CIC) is being courted by British entrepreneur Sir Richard Branson as a potential partner for Virgin Money in a bid for UK lender Northern Rock. The bank, which received a GBP1.4 billion government bailout in 2008, is tipped to...
Blackstone poaches Yi Luo from Carlyle - report
Blackstone Group has poached Yi Luo, a managing director at The Carlyle Group, to bolster its dealmaking team in China. Luo will assume the role of senior managing director based in Shanghai and report to Blackstone Asia head Michael Chae, sources close...
TPG, Farallon linked to GTL Infrastructure acquisition
TPG Capital and Farallon Capital are among the private equity investors interested in telecom tower business GTL Infrastructure. Sources told The Economic Times that a PE-led consortium of telecom player is the most likely buyer of the company, which...
Blackstone, Carlyle interested in Reliance Infratel - report
Blackstone Group and The Carlyle Group have jointly expressed interest in bidding for up to 95% of Reliance Communications’ cellular tower business Reliance Infratel, The Times of India reported. It comes one month after the buyout firms were first...
CIC, KIC chairmen named to high-profile RDIF advisory board
The chairman of China Investment Corp. (CIC), Lou Jiwei, has been named to the international advisory board of the Russia Direct Investment Fund (RDIF). Choi Chong Suk, chairman of Korea Investment Corp. (KIC), will also serve on the board alongside Bader...
Chinese outbound M&A: Unfamiliar territory
Ever more Chinese firms are engaging in overseas M&A, with varying degrees of success. Prospective sellers must be aware of the risks as well as the opportunities
Blackstone's Ben Jenkins to depart by the end of the year
Ben Jenkins, Hong Kong-based senior managing director at Blackstone Group, will depart the firm at the end of the year to return to New York.
Carlyle files for IPO but listing not expected until 1H 2012
The Carlyle Group made its IPO filing on Tuesday but volatility in the global markets means the offering is unlikely to happen until the first half of 2012.
Hony makes first QFLP investment
Hony Capital has made the first investment under Shanghai's Qualified Foreign Limited Partner (QFLP) program. The firm has reportedly agreed to invest in Shijiazhuang Hongray Group, a disposable gloves manufacturer. Financial details were not given.
CNOOC anchors PE fund targeting Asian energy assets
China National Offshore Oil Corp. (CNOOC) has formed a strategic partnership with Kerogen Capital, which is raising a $1.5 billion private equity fund that will target energy investments in Asia.
Bright Food finally seals overseas acquisition
China's Bright Food Group is set to acquire a 75% stake in CHAMP Private Equity-controlled Manassen Foods, finally making a breakthrough in its long-held but often thwarted ambitions to take a significant step into overseas markets. The parties did not...
Reliance Communications again seeks PE buyers for tower unit
Reliance Communications is courting private equity firms and strategic investors as it seeks to sell its 95% stake in tower unit Reliance Infratel. The company has hired UBS to arrange a sale and is looking to recoup $5 billion for the asset, Reuters...
Market volatility hits US-listed buyout firms
Publicly traded buyout firms have seen their share prices fall 19-27% so far in August, compared to a 9.5% drop in the Dow Jones Industrial Average. As the market troubles escalated yesterday, with the Dow retreating 3.7%, Blackstone Group, KKR, Apollo...
Blackstone hunts for financing for Valad acquisition
Blackstone is reportedly seeking A$431 million ($452 million) in financing to complete its purchase of distressed Australian property group Valad, and will tap investors in Australia and Greater China for the money.
GMR Energy takes 30% stake in Indonesian coal mine
GMR Energy, a subsidiary of GMR Infrastructure, will buy a 30% stake in Indonesia’s T Golden Energy Mines for $450-550 million. The agreement includes an off-take clause that guarantees the Indian firm coal supplies rising to 10 million metric tons...
Blackstone invests in leading Indian IT park
The Blackstone Group will acquire a 37% stake in Manyata Promoters, which operates high technology park in Bangalore, India, for around $200 million. The investment is said to value the entire development at $550 million.
Blackstone approved for Valad takeover
Shareholders in debt-burdened Australian real estate firm Valad Property Group have overwhelmingly approved Blackstone affiliates for an A$806 million ($883 million) takeover of the company.
Women in private equity: Minority report
Private equity is a man’s world, in Asia and everywhere else. What can women on the inside do to bring about change?
Blackstone closes in on third India power deal
In August 2010, Akhil Gupta, chairman and managing director of Blackstone India, said the private equity firm “would not hesitate” to invest $1 billion in the country’s power sector if attractive deals presented themselves.
Blackstone closes in on its third Indian power sector deal in 15 months
Blackstone Group has signed a definitive agreement to pay INR500 crore ($111 million) for an approximate 25.2% stake in the power generation arm of Kolkata-based conglomerate Visa Group. It is the private equity firm’s third investment in India’s...
China’s farms show growth potential
Buoyed by rising domestic consumption and policy support for rural industries, China’s agricultural sector is generating interest from private equity