USA
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 Whirlpool...
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.
KKR, TPG consider AsiaInfo bid – report
Several private equity firms – including KKR and TPG Capital – and strategic investors are reportedly considering bids for AsiaInfo-Linkage, the US-listed firm that is already subject to a buyout offer from CITIC Capital.
MMI relies on US investors for $300m high-yield bond
KKR-owned MMI International successfully issued its $300 million high-yield bond, principally attracting interest from US investors due to their familiarity with the sector and the company’s customer base. The five-year non-call bond was priced at a yield...
CalPERS criticizes PE industry on tax breaks
Joe Dear, CIO of the California Public Employees’ Retirement System (CalPERS), waded into debate on how private equity is taxed in the US, saying that buyout firm executives “risk becoming the robber barons of the 21st century” if they don’t back down....
SEC inquiry targets PE asset valuation mechanisms
Private equity firms have been asked to disclose to US regulators information on how they value assets, as well as on areas including fundraising and fund formation, as part of an informal inquiry into the industry. The Securities and Exchange Commission...
CIC-backed EIG shuns US to pursue Hong Kong listing
EIG Global Energy Partners, the US-based energy sector specialist, will delist its investment vehicle from Goldman Sachs’ electronic platform and list in Hong Kong.