USA
PennSERS commits $50m to Asia Alternatives’ third fund
The Pennsylvania State Employees’ Retirement System (PennSERS) has committed $50 million to Asia Alternatives' third fund-of-funds, which was launched early last year with a target of $1 billion. As of September 2011, it had attracted $375 million,...
PE giants exit AMC to Chinese investor
Dalian Wanda Group’s ambitions appear to know no bounds. Last week the conglomerate completed what could be the largest ever Chinese takeover of a US company, paying $2.6 billion for AMC Entertainment. Wanda’s goal is to unite AMC’s movie theater...
CIC poised to invest $2b in Alibaba Group – report
China Investment Corp. (CIC) may take a $2 billion stake in Alibaba Group in order to finance the Chinese internet company’s purchase of a 20% stake in itself from Yahoo. Last week, Alibaba agreed to purchase half of Yahoo’s 40% holding for $7.1 billion...
PE giants sell AMC Cinemas to China’s Wanda for $2.6b
Private equity firms Apollo Global Management, Bain Capital, CCMP Capital Advisors and Spectrum Equity Capital have sold AMC Entertainment, owner of the eponymous cinema chain, to China’s largest entertainment group for $2.6 billion. The deal is thought...
SingTel's Amobee buys VC-backed ad startup
Singapore Telecommunications, Southeast Asia's largest telecoms company, has acquired AdJitsu, a VC-backed Silicon Valley startup in the mobile advertising sector. This is SingTel's second acquisition in two months.
JAFCO backs US-based pharma company in Series A funding
JAFCO has invested $10 million in the Series A financing of Eleven Biotherapeutics, a US-based biopharmaceutical company designing and engineering novel and differentiated protein-based biotherapeutics.
Korea’s Tstone agrees partnership with Newsweek
South Korea’s Tstone Corp. has entered into a partnership with Newsweek to develop the magazine’s business in Asia. This will involve expanding the existing Asian edition of Newsweek across the digital, broadcast and events space.
VC firms support Japan-US drug development alliance
Drais Pharmaceuticals, a US-based firm backed by InterWest Partners and Sutter Hill Ventures, will form a partnership with Japan’s Astellas Pharma to jointly develop a new line of drugs. Astellas has agreed to transfer assets to Drais-operated Telsar...
Comply or die? GPs, technology and reporting standards
Fund managers are dealing with the challenges of an increasingly demanding LP base. Asian GPs looking for institutional money must invest in compliance or rely on their track records to carry them through
Carlyle targets $762m in IPO
The Carlyle Group is seeking to raise as much as $762.5 million through its initial public offering. This would value the company at up to $7.6 billion, less than half the current market capitalization of The Blackstone Group and more than $2 billion...
Blackstone pays $770m for Dexus Property assets
The Blackstone Group has paid $770 million for 65 US industrial assets owned by Australia’s Dexus Property Group. Investing via affiliates of Blackstone Real Estate Partners VII, the firm will acquire properties including three warehouses leased to...
InnoSpring launches US-China technology incubator
InnoSpring, Silicon Valley's first US-China technology incubator, began operations last week to support the expansion of US and Chinese start-ups beyond their home countries. The incubator also announced the establishment of its InnoSpring Seed Fund.
WSGR hires PE-focused partner in Shanghai
Wilson Sonsini Goodrich & Rosati (WSGR), the US-based law firm specializing in technology and life sciences, has hired Zhan Chen as a partner in Shanghai. Her practice focuses on private equity, privatizations and M&A.
Oaktree files for $595m IPO
Oaktree Capital Group, the US-based debt-focused private equity firm, has filed for an IPO that could raise up to $595.1 million. Co-founders Howard Marks and Bruce Karsh stand to take away as much as $117.2 million each from the sale.
Silver Lake to reduce fees for fund IV
Tech-focused private equity firm Silver Lake is planning to cut the fees it will charge big-ticket LPs as it attempts to raise as much as $10 billion for its next buyout vehicle.
Blackstone closes second global mezzanine fund at $4b
The Blackstone Group has raised $4 billion for its second global mezzanine fund, making the vehicle twice the size of its predecessor. The fund has already deployed or committed $780 million to four companies, including Japan’s Sony Corp, which required...
CITIC Capital target AsiaInfo to consider other bids
AsiaInfo-Linkage, the US-listed telecom software manufacturer that is subject to a buyout offer from CITIC Capital, plans to consider privatization proposals from other parties. This comes one month after reports that several private equity firms and...
DCM, Sequoia-backed Vipshop drops 15% on NYSE debut
Vipshop Holdings, a Chinese online retailer backed by Doll Capital Management (DCM) and Sequoia Capital, saw its stock close down 15% on its March 23 trading debut. The company priced its IPO on the New York Stock Exchange at $6.50, 23% below the indicated...
KNOC backs Apollo-led purchase of US oil assets
Korea National Oil Corp. (KNOC) will join a consortium led by Apollo Global Management that has agreed to buy US-based El Paso’s oil and gas exploration business for $7.15 billion. The assets are being sold by Kinder Morgan as part of its $21 billion...
Los Angeles pension fund invests $25m in Hony V
Los Angeles City Employees’ Retirement System (LACERS) committed up to $25 million to Hony Capital Fund V, which closed in January at $2.4 billion, $1 billion larger than its predecessor.
Columbia Capital invests $20m in Cloud Sherpas
US venture capital firm Columbia Capital has invested $20 million in Cloud Sherpas, a newly merged cloud computing solutions provider focused on Asia Pacific and the US.
US pension funds move to raise alternatives exposure
Two US pension funds, Georgia Employees’ Retirement System (GERS) and Ohio State Teachers’ Retirement System (OSTRS) have made moves to boost their exposure to alternative investments.
SEC files lawsuit against executives of Chinese coal company
The US Securities and Exchange Commission (SEC) has filed a lawsuit against two Chinese executives from Puda Coal, accusing them of shifting its main asset to a third-party company and then selling a stake to CITIC Trust. Ming Zhao and Liping Zhu, chairman...
Baird Private Equity names Asia hand Carbone global head
Robert W. Baird & Co. has appointed Gordon Pan as head of its global private equity group. He succeeds Paul Carbone, who has joined Chicago-based investment firm The Pritzker Group.