USA
Yahoo chairman to step down, future of Asian assets unresolved
Yahoo is replacing its chairman and three other directors as it continues to restructure its business, a process that includes the potential spin-out of its Asia-based assets to a consortium comprising Alibaba Group, Softbank and some private equity players....
CalSTRS commits $500m to IFM's infrastructure fund
California State Teachers’ Retirement System (CalSTRS) has committed $500 million to Australia-based fund-of-funds Industry Funds Management (IFM). The capital will be placed in the firm’s Global Infrastructure Fund, which principally targets assets in...
CIC takes minority stake in EIG Global
China Investment Corp. (CIC), the $410 billion Chinese sovereign wealth fund, has bought a minority stake in US-based asset management firm EIG Global Energy Partners.
China nearly matches Europe for VC funding in 2011
Chinese companies attracted $6 billion in venture capital funding in 2011, up 8% year-on-year, and putting the country at near parity with Europe, which saw commitments of $6.1 billion. On a country basis, the US remains the runaway leader, with VC funding...
Vivo takes US healthcare into China
Tria is a US-based company that manufactures a hair removal laser designed for use in the home or in the office. Approved by the Federal Drug Administration and already sold in the US, Canada, the UK, Japan and Korea, the device is now being primed for...
Asian investors back eco-fuels producer LanzaTech
The Malaysian Life Sciences Capital Fund led a $55 million Series C round of financing for low-carbon fuels producer LanzaTech. Petronas Technology Ventures and Dialog Group, also Malaysian firms, participated in the round, as did existing investors Khosla...
FBI searches offices of firm linked to Chinese reverse takeovers
The Federal Bureau of Investigation has conducted a search of the offices of New York Global Group, a private equity investment and corporate advisory firm. New York Global, led by Benjamin Wey, helped Chinese companies go public in the US through reverse...
US increases disclosure requirements for foreign listings
The US Securities and Exchange Commission (SEC) has introduced rules that compel foreign companies seeking US listings to file their registration documents publicly. Previously, IPO documentation remained confidential until the issuers were ready to launch...
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.
Cinemacraft receives funding from 500 Startups
Asian interactive media platform provider Cinemacraft has secured funding from US-based business incubator 500 Startups.
Carlyle founders share $400m in 2011 earnings
The Carlyle Group’s three founders together earned more than $400 million in 2011 after the private equity firm returned a record $15 billion to LPs in the first nine months of the year.
TFG Radiant to increase holding in US solar panel maker
TFG Radiant, a joint venture between Chinese property developer Radiant Group and Singapore-based investment company Tertius Financial Group, will increase its stake in Ascent Solar Technologies. The purchase will take its holding in the company to approximately...
Vivo Ventures closes seventh fund at $375m
Vivo Ventures, the US and Greater China-focused healthcare investment firm, has closed its seventh fund at $375 million. The firm now has more than $1 billion under management.
Alibaba hires US lobby group for potential Yahoo bid
Alibaba Group has hired Washington lobbying firm Duberstein Group in what is seen as evidence that the company is considering a bid for all of Yahoo if negotiations to buy back the US firm’s Asian assets fail.
PE-backed buyouts of US-listed Chinese firms set to continue
Private equity-backed management buyouts of US-listed Chinese companies are expected to continue in 2012 despite recent pullbacks in the Hong Kong and mainland markets eroding the potential valuation arbitrage. With the announcement of dedicated privatization...
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.
CIC plans to invest in Western infrastructure projects
China Investment Corp. (CIC) will commit funds to improving infrastructure in developed countries, starting with the UK, where it plans to team up with fund managers or participate through public-private partnerships.
KKR-led consortium bags Samson for $7.2b
A KKR-led consortium, which includes Japan's Itochu Corp, has agreed to buy Samson Investment Co. for $7.2bn in the second largest private equity deal globally this year.
Abax, chairman lower MBO offer for Fushi Copperweld
Abax Global Capital and the chairman of Fushi Copperweld have lowered their buyout offer for the Chinese company. They are proposing to pay $9.25 per share, down from $11.50 announced in November of last year, which values the deal at about $353.4 million....
Coulter, Rubenstein look at PE of the future – AVCJ Forum
Diversification and standardization were the watchwords as James Coulter, founding partner of TPG Capital, and David Rubenstein, co-founder and managing partner of The Carlyle Group, addressed the future of the global private equity industry at the AVCJ...
PE firms close in on Yahoo acquisition
Several prospective buyers of Yahoo have signed confidentiality agreements in order to get a closer look at the company’s finances.
From buyouts to asset managers
Emerging Asia is a key consideration as the global buyout firms diversify their product offerings to meet the needs of a changing market
China MBOs: The problem with privatizations
With stock prices undervalued, company chairman and private equity investors are eyeing potential privatizations among US-listed Chinese companies. It isn’t as easy as it seems.
Harbin Electric shareholders approve MBO
Harbin Electric’s shareholders have approved a privatization bid for the company put forward by chairman and CEO Tianfu Yang and supported by Abax Global Capital. The deal, which received board backing in June, is expected to close within a week.