News
Taiwan’s Cathay buys PE-owned Conning for $240m
Cathay Life Insurance, Taiwan’s largest insurer, has agreed to buy Conning Holdings, an asset manager owned by US private equity firm Aquiline Capital Partners, for $240 million.
Auda hires FLAG Squadron's Eunseok So
Auda International has appointed Eunseok So, formerly of FLAG Squadron Asia, as a senior vice president in its Hong Kong office.
Being global is about being good, not big - AVCJ Forum
The priority when building a global company is creating quality, not necessarily expanding outside your local market, industry participants told the AVCJ Forum.
LPs offer mixed views on GP ownership - AVCJ Forum
Taking a stake in the GP offers benefits to LPs looking to align interests, but not all are willing to do so at the cost of a fund manager's independence.
Japan's J-Star buys two healthcare providers
Japanese mid-market buyout firm J-Star has acquired two new care providers - Nagoya-headquartered Nurse Call and Kanagawa-based Kairos & Company - within weeks of its 5x exit from similar business HCM Corporation.
CVC’s Hemal Mirani to rejoin HarbourVest
Hemal Mirani, head of Asia investor relations at CVC Capital Partners, will join HarbourVest Partners as a managing director. She previously spent over 11 years at HarbourVest before leaving in 2009 for the role at CVC.
Silver Lake overcame doubters to secure Alibaba deal – AVCJ Forum
Silver Lake’s 2.2% stake in Alibaba Group is worth more than $6 billion at current market prices, but internal approval for the original investment in the Chinese e-commerce player in 2011 did not come easily.
Best practices plus local skills give Asian GPs the edge - AVCJ Forum
The adoption of industry best practices could give Asian GPs the edge over global players in a regional market that is evolving along different lines to other parts of the world.
More China GPs look to tap outbound opportunity - AVCJ Forum
PE investors are seeing more outbound opportunities as China enters its second stage of development, industry participants told the AVCJ Forum.
KKR, CITIC offer to buy controlling stake in United Envirotech
CITIC and KKR have offered to buy a controlling stake in United Envirotech (UEL) in a deal that values the Chinese waste water treatment company at S$1.9 billion ($1.5 billion).
VCs worried but enthused by frothy China tech sector - AVCJ Forum
The flood of capital entering China’s technology space is a concern for VC investors, but they remain firm believers in the emerging generation of mobile-enabled consumers that is driving interest in the sector.
PE firms must strike balance between expanding, preserving culture - AVCJ Forum
Private equity firms that expand across multiple strategies benefit from having an institutionalized platform, but creating a consistent culture and delivering consistent performance can be challenging, industry participants told the AVCJ Forum.
Location, talent will define Asia's GP winners - AVCJ Forum
As the Asia's PE market matures, the winners and losers will be defined by those who not only leverage their local presence, but also retain the necessary talent, say industry participants.
OTPP hires Mount Kellett executive for Asia relationship investing
Ontario Teachers’ Pension Plan (OTPP) has appointed Dan Kiang as Hong Kong-based director of relationship investing, including the group’s recent commitment to Sinopec Marketing as part of a PE consortium.
Affinity named firm of the year at AVCJ Awards
Affinity Equity Partners was named firm of the year at the 2014 AVCJ Private Equity and Venture Capital Awards on the back of a strong fundraise, investments in three different markets, and the largest trade sale exit ever seen in the region.
Bain nets $400m through part-exit from India’s Hero MotorCorp
Bain Capital has completed a second partial exit in five months from Indian motorcycle manufacturer Hero MotorCorp, raising INR24.5 billion ($400 million).
Forum Synergies leads Series B round for Indian ethnic clothing retailer
Forum Synergies has led a Series B round of funding worth INR300-500 million ($4.9-8.1 million) for CBazaar.in, an Indian online ethnic fashion retailer.
VC-backed Chinese dating app Momo files for US IPO
Momo, a Chinese location-based social-networking app best known for its “flirting” function, has filed for a US IPO. Backers include Alibaba Group, Matrix Partners, Yunfeng Capital and Sequoia Capital.
GSR commits $2m to China enterprise management app
GSR Ventures has committed $2 million in a Series A round of funding for Waiqin365, a Chinese customer relationship management (CRM) mobile app.
GIC invests $391m in Philippines liquor producer Emperador
GIC Private has agreed to pay PHP17.6 billion ($391 million) for a 9.64% stake in Emperador (EMP), a Philippines-based liquor producer. Its parent is Alliance Global, a conglomerate controlled by local businessman Andrew Tan.
CLSA raises $210m for second Japan fund
CLSA Capital Partners has reached a final close of $210 million on its second Japan-focused fund - Sunrise Capital II.
Infinity Venture launches third China, Japan fund
Japanese tech-focused investor Infinity Venture Partners has launched its third fund - Infinity e.venture Asia III - which will focus on start-ups in Japan and China.
SIG, SoftBank back China wearables maker Codoon
SoftBank China Venture Capital (SBCVC) and SIG Asia have invested $30 million in a Series B round of funding for Codoon, a Chinese wearable electronic devices manufacturer.
TVS Capital consortium picks 26% stake in IEX
A consortium led by TVS Capital Funds has agreed to buy a 25.64% stake in Indian Energy Exchange (IEX) for INR5.76 billion ($94 million) from Blackstone-backed Financial Technologies India (FTIL).