News
Bayer buys Legend Capital-backed Dihon Pharma
Bayer has agreed to buy Dihon Pharmaceutical Group, a manufacturer of herbal traditional Chinese medicines (TCM). The acquisition facilitates the exit of Legend Capital, an investor in Dihon since 2010.
Australia's CHAMP PE names John Haddock CEO
CHAMP Private Equity has appointed John Haddock as its first CEO. He will assume responsibility for the Australian GP’s investment program together with day-to-day management of the firm, while continuing the deal origination and portfolio management...
China Everbright, Catalyst raise $100m for Israel Fund
China Everbright and Israel-based Catalyst Equity Management have reached a first close of $100 million on a private equity fund that will invest in Israeli companies.
Hong Kong promises to push forward with PE tax exemption
Hong Kong’s financial secretary, John Tsang, reaffirmed the government’s plans to extend the profits tax exemption for offshore funds to include private equity, promising to “take forward the legislative work as soon as possible.”
PE-invested mining services provider enters administration
The Anywhere Group (TAG), an Australian provider of temporary accommodation for the mining sector, has gone into administration owing Singapore-based PE firm Crest Capital Asia A$9.5 million ($8.4 million).
Creador raises Somany Ceramics investment to $10m
South and Southeast Asia-focused mid-market GP Creador has increased its investment in Indian tile maker Somany Ceramics to $10 million via a secondary market transaction.
EBay leads $134m round for Indian online marketplace Snapdeal
Indian online marketplace Snapdeal has raised a new round of funding worth $133.8 million led by eBay. It comes less than a year after the US e-commerce giant led a $50 million Series C round for the company.
SIG leads $10m round for China mobile voice search app
SIG has led a Series B round of funding worth nearly $10 million for Mobvoi, a voice-activated mobile search services provider. Sequoia Capital and ZhenFund, which provided the Series A round in 2012, also participated.
CalPERS CIO Joseph Dear dies following cancer battle
Joseph Dear, chief investment officer at the California Public Employees’ Retirement System (CalPERS), has died. Dear had been battling prostate cancer and last summer stepped back from his role to undergo treatment.
China to see PE fundraising rebound in 2014 – PwC
China is expected to see a significant rebound in private equity fundraising this year in response to the domestic IPO markets re-opening, according to PricewaterhouseCoopers(PwC). Meanwhile, renminbi-denominated fundraising will prevail as usual.
Two in three Asia PE professionals expect salary hike in 2014 - survey
Two thirds of private equity investment professionals in Asia expect their base salary to increase in 2014 over the previous year.
Scentan invests $75m in SaaS start-up Tradeshift
Tradeshift, a start-up which provides businesses with free payment management tools, has raised $75 million from Singapore-based Scentan Ventures.
Carlyle nears deal to buy Korea's Tyco unit - report
The Carlyle Group has been selected as preferred bidder for Tyco International's South Korean security systems unit - ADT Caps
Dinneen leaves Siguler Guff for EMPEA
Patricia Dinneen has left Siguler Guff and joined the Emerging Markets Private Equity Association (EMPEA) as a senior advisor. Ralph Jaeger is replacing Dinneen as portfolio manager responsible for Brazil, Russia, India and China (BRIC), as well as certain...
Linkedin to enter China, launch JV with CBC, Sequoia
Linkedin, a social media site for professionals has established a joint venture with Sequoia China and China Broadband Capital Partners (CBC Capital) to expand into the China market.
China's SPD Bank launches PE exit consultancy service
Shanghai Pudong Development Bank (SPD Bank) has launched consultancy service for private equity firms to exit from their investments.
EQT buys restructured I-Med from hedge fund owners
Australian radiology provider I-Med Network Radiology is being sold by its hedge fund owners to a consortium led by EQT Partners.
Baring Asia exits Indonesian aviation services provider
Baring Private Equity Asia has sold its 41.65% stake in air freight and passenger services provider Cardig Aero Services (CAS) to Singapore Airport Terminal Services (SATS) for IDR1.1 billion ($93.5 million). The PE firm invested approximately $41 million...
CDH pays $40m for 20% stake in China gold project
CDH Investments will acquire a 20% stake in Eastern Dragon project, a gold reserve base owned by Canadian miner Eldorado Gold Corporation, for $40 million in cash.
China's NSSF joins cornerstones for Poly Culture IPO
China’s National Council for Social Security Fund (NSSF) will commit about $19.8 million as a cornerstone investor in Poly Culture’s HK$2.57 billion ($331 million) Hong Kong IPO.
Origo restructures China cleantech fund
Origo Partners has restructured its China cleantech fund - China Cleantech Partners (CCP) - taking full control of the vehicle and paving an exit for co-investor Ecofin Water & Power Opportunities (EWPO).
Ventech invests in China P2P lending platform Jimubox
Ventech Capital, a France-based VC firm, has provided a Series A round of funding for Beijing-based peer-to-peer (P2P) online lending platform Jimubox.com. Transaction details were not disclosed but the investment is worth about $10 million.
IFC commits $50m to India's Cholamandalam NBFC
International Finance Corporation (IFC), the investment arm of World Bank, is investing INR3.15 billion ($50.7 million) in non-banking finance company (NBFC) Cholamandalam Investment & Finance (CIF).
Samena picks up stake in Mahindra scooters business
Asia and Middle East-focused private equity firm Samena Capital has bought a 10.29% stake in Mahindra Two Wheelers, a scooter business controlled by Indian conglomerate Mahindra Group, from Kinetic Engineering.