USA
VIDEO: Thomas H. Lee of Lee Equity Partners
Thomas H. Lee, managing partner of Lee Equity Partners, talks to AVCJ TV about the evolution of the US private equity industry, his decision to leave buyouts for growth capital, how investors can identify good managers, and his expectations for China
FLAG buys Asian fund-of-funds Squadron Capital
Asia-focused fund-of-funds Squadron Capital has been sold to FLAG Capital Management. The acquisition will take US-based FLAG’s assets under management to $6 billion, up from $4.5 billion, and broaden its product offering across private equity, venture...
Morgan Stanley supports Feihe International MBO bid
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with the chairman and CEO of Feihe International to make a buyout offer for the US-listed Chinese company. The transaction values Feihe, a leading producer of infant formula and milk powder, at...
Alibaba in bumper Yahoo buyback
New and existing private equity investors acquire much-sought-after stakes in Alibaba Group as the e-commerce firm repurchases part of Yahoo’s stake in a $7.6 billion deal
China, India companies beat PE to Digital Domain assets
China’s Galloping Horse Film and India’s PE-backed Reliance MediaWorks have teamed up to acquire assets from Digital Domain Media Group, the distressed Hollywood special effects company, for $30.2 million. The Sino-Indian joint venture easily outmatched...
Tsinghua’s TEEC raises $1.4m for US-China angel fund
Tsinghua Entrepreneurs & Executive Club (TEEC), a group set up by VC-oriented alumni of China’s Tsinghua University, has raised $1.4 million for its second angel investment fund. The vehicle launched in June and has a final target of $8 million.
Quay poaches Reed from Pantheon for US
Australian private equity fund-of-funds and advisory firm Quay Partners has hired Jeffrey Reed from Pantheon Ventures, the UK fund-of-funds, to help manage its US operations in San Francisco.
CITIC PE backs $331m take-private bid for China’s 3SBio
CITIC Private Equity is supporting a $331 million management buyout offer for NASDAQ-listed Chinese pharmaceuticals company 3SBio. It is the latest in a string of attempted take-private deals for US-traded Chinese firms that for a variety of reasons are...
Private equity tax strategies probed by US authorities
A host of leading private equity firms has been subpoenaed by the New York attorney general as part of an investigation into whether they have engaged in tax evasion strategies.
CIC trims financials exposure with partial exit from BlackRock
China Investment Corporation (CIC) has exited most of its holding in asset manager BlackRock as part of a wider effort to reduce its exposure to international financial institutions.
GGV reaches final close at $625m on fourth fund
GGV has reached a final close on its fourth fund at $625 million. The US- and China-focused venture capital firm, formerly known as Granite Global Ventures, has added RMB650 million ($105 million) to the $520 million already raised from US investors.
GGV receives commitments of $509m for fund IV
GGV Capital, the US and China-focused venture capital investor, has raised $508.9 million for its fourth fund. In addition to the main fund, the VC firm has attracted $10.8 million for a side vehicle known as GGV Capital IV Entrepreneurs Fund.
Australia’s QIC to use Burgiss Group PE software platform
QIC, one of the largest institutional investors in Australia, has deployed a private equity software platform designed by The Burgiss Group, a New Jersey-based software solutions provider.
LP interview: New York State Common Retirement Fund
New York State Common Retirement Fund has put scandals behind it and, buoyed by two years of positive performance and limited liabilities overhand, is looking to boost Asia private equity exposure
China’s PiYi Investment to fund US companies
PiYi Investment Management, a Chinese private equity manager for high-net worth investors, has teamed up with Wisconsin Economic Development Corporation (WEDC) in the US to invest $100 million in Wisconsin companies.
US-China start-up incubator launches accelerator program
InnoSpring, Silicon Valley’s first US-China technology start-up incubator, has launched a six-month accelerator program targeting companies in mobile internet, cleantech and healthcare IT industries.
Blackstone names Baratta head of global private equity
The Blackstone Group has promoted Joe Baratta to head of global private equity. He currently leads the firm's European private equity operations.
TPG backs $176m ShangPharma MBO
TPG Capital is backing a management buyout (MBO) bid for ShangPharma, a Chinese pharmaceutical and biotech research outsourcing firm listed on the New York Stock Exchange. Michael Hui, ShangPharma’s chairman and CEO, and affiliates of TPG have offered...
Standard Chartered PE takes Smoothies Korea overseas
Standard Chartered Private Equity (SCPE) has completed its fourth transaction in partnership with South Korea’s National Pension Service (NPS), making a $46 million investment in nutritional beverage brand Smoothies Korea. The company will use the capital...
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...
PE and FATCA: Complain but comply
Asian GPs have lagged behind other regional institutions in getting to grips with the Foreign Account Tax Compliance Act. The time has come to face the impact these rules could have on local firms
Endowments: Still gold standard?
North American endowments took a beating during the financial crisis and the recovery process has been slow. But they retain the ability to uncover high-quality GPs, in the US and beyond
Abax wins board approval for Fushi Copperweld MBO
Abax Global Capital has finalized a $363.8 million buyout of US-listed Chinese wire manufacturer Fushi Copperweld in alliance with company management. The transaction has taken about 18 months to close and represents Abax’s second successful take-private...
VIDEO: Sterling Partners' Eric Becker
Some private equity firms in emerging Asian markets still shirk at being labeled specialist, arguing that a narrow focus risks missing out on a wealth of growth opportunities. The US, several decades down the line in terms of the private equity development...