News
HarbourVest's Asia secondaries head becomes managing director
Tim Flower, head of HarbourVest Partners’ secondary activities in Asia, has been promoted to managing director. The move comes just over three years since Flower relocated from London to Hong Kong and one year since he was elevated to principal.
Quadria-led consortium buys majority stake in Indian hospital chain
Quadria Capital, German development finance institution DEG and Swedfund have acquired a majority stake in Medica Synergie from ICICI Venture.
Blackstone exits Emcure Pharma to Bain
The Blackstone Group will exit its 2006 investment in India’s Emcure Pharmaceuticals to Bain Capital. Financial terms of the deal were not disclosed but it is reportedly worth INR7 billion ($112.8 million)
China's Ctrip invests $100m in VC-backed eHi Auto Services
Ctrip International, China's largest online travel agency, will invest $100 million in eHi Auto Services, a Shanghai-based car rental company backed by Qiming Venture Partners, Ignition Partners, Goldman Sachs, Jafco and CDH Ventures.
Sprott, Woori win Korean mandate for $750m global resources fund
South Korea’s National Pension Service (NPS) will lead a consortium of institutional investors in putting up half the capital for a $750 million private equity fund to be managed by Canadian asset manager Sprott and Woori Asset Management. The 10-year...
Carlyle invests in India’s Global Health Private
The Carlyle Group has acquired a minority stake in India’s Global Health Private, owner and operator of Medanta – the Medicity, a super-specialty Medanta hospital in the National Capital Region (NCR) of Delhi. The transaction facilitates the exit...
AVCJ daily bulletin returns January 2
AVCJ's daily bulletin will take a short break next week for the festive holiday season. Publication will resume on January 2, while the weekly magazine's first issue of 2014 is released on January 7.
Blackstone to up stake in India's MCX to 4.99%
Blackstone is to increase its stake in the Commodity Exchange of India (MCX) to as much as 4.99%. The proposed purchase comes after Blackstone picked up 2% in the commodity bourse for INR1.04 billion ($16.6 million) in March this year.
Japan's Sompo agrees purchase of Bregal-owned insurer Canopius
Sompo Japan Insurance has agreed to acquire Canopius Group, a UK insurer which is 84%-owned by London-headquartered private equity firm Bregal Capital.
CalPERS to cut 269 private equity managers
The California Public Employees' Retirement System (CalPERS) is looking to cut its number of GP relationships to less than a third of the current 389.
Crescent-owned insurer shares down 12.5% after Australian IPO
Shares in Crescent Capital Partners-owned Cover-More Group opened down 12.5% today following the travel insurer's A$521 million ($460 million) IPO on Australian Securities Exchange (ASX).
CVC reaches $2b first close on fourth Asia fund - report
CVC Capital Partners has reportedly had a $2 billion first close on its fourth Asian fund which is targeting a final close of $3.5 billion.
Hahn & Co invests $190m in South Korea's Woongjin Foods
Hahn & Co has paid $190 million for a 57% stake in Woongjin Foods, Korea's third largest non-alcoholic beverage company and subsidiary of ailing conglomerate Woongjin Group.
GIC exits Beijing airport to NWS Holdings
GIC Private has exited its 8.84% stake in Beijing Capital International Airport (BCIA)to NWS Holdings, an Chinese infrastructure conglomerate controlled by Hong Kong billionaire Cheng Yu-Tung, for about HK$2.36 billion ($304 million).
AltExchange publishes first PE data standard
The AltExchange Alliance - which was set up earlier this year by a group of LPs, GPs and service providers - has launched a new data standard for the private equity industry.
Darby exits South Korea’s Leadcorp
Darby Private Equity, a subsidiary of Franklin Templeton Investments, has exited its stake in South Korean consumer finance company Leadcorp through sales on the Kosdaq Market of Korean Exchange. The financial details were not disclosed.
EQT acquires franchise operator China F&B Group
EQT Partners has bought a majority stake in China F&B Group, the Chinese franchise operator of international restaurant chains Dairy Queen and Papa John’s Pizza, for an undisclosed sum. Global investors SEB private equity and Hong Kong-based General...
Tencent leads Series B round for online financial site Howbuy
China internet giant Tencent Holdings has led a Series B round of funding for Howbuy.com, a Chinese online financial products platform. Existing investor Legend Capital, the corporate venture capital arm of Legend Holdings, also participated in the round....
Blackstone India PE head Akhil Gupta replaced by two new co-heads
Akhil Gupta, the head of Blackstone's Indian private equity operations, is to be moved to a non-executive role as managing directors Mathew Cyriac and Amit Dixit are brought in to co-head the unit.
Osaka prefecture blocks Lone Star bid for Japan rail asset
US private equity firm Lone Star has seen its winning bid for Japan rail operator Osaka Prefectural Urban Development (OPUD) blocked by the Osaka prefectural government.
KKR, Carlyle, GSO among potential bidders for JPMorgan Asia investment arm - report
KKR, The Carlyle Group and Blackstone's credit arm, GSO Capital Partners are said to be among potential buyers for JPMorgan Chase's Asia-based principal investment business, Global Special Opportunities Group (GSOG). The valuation is likely to be more...
Carlyle-backed Artgo Mining targets $130m HK IPO
Artgo Mining Holdings, a Chinese marble producer and distributor which is backed by The Carlyle Group, intends to raise up to HK$1.01 billion ($130 million) through an IPO in Hong Kong.
Silver Lake backs Avago's LSI purchase with $1b investment
Tech-focused private equity firm Silver Lake is investing another $1 billion in Singaporean chip maker Avago Technologies to help fund its $6.6 billion acquisition of LSI Corporation.
Anacacia completes two deals in health and education
Australian private equity firm Anacacia Capital has completed two new acquisitions in the health and education sectors: healthcare equipment manufacturer Oxford Group and Careers Training Group - formed as a merger between vocational training firms Selmar...