News
Australia's ACSI names Future Fund executive as new CEO
The Australian council of Superannuation Investors (ACSI) has appointed Gordon Hagart, head of environmental, social and governance (ESG) risk management at Future Fund, as its new CEO. Hagart will take over from Ann Byrne who will retire from the A$100...
HK’s Shining Capital leads $40m JustFab Series C round
Hong Kong-based Shining Capital Management has led a $40 million Series C round of funding for US-based fashion subscription e-commerce retailer JustFab. Existing backers Matrix Partners, Rho Ventures, Technology Crossover Ventures and Intelligent Beauty...
Singapore government to invest $39m in start-up ecosystem
The Singapore government is to pump an extra S$50 million ($39 million) into its early stage co-investment vehicle in a bid enliven the city state's start-up ecosystem.
Asian LPs deploy more capital in private equity – Preqin
More than 70% of Asian institutional investors have committed to at least one private equity fund so far this year and close to nine in 10 expect to allocate the same or more capital to the asset class in 2014 compared to 2013.
PE managers target diversification through greater transparency
Private equity fund managers are placing greater emphasis on transparency – specifically more frequent and detailed reporting on fund holdings and associated risk factors – as a means by which to differentiate themselves in a challenging fundraising...
Fosun, Axa's Club Med takeover delayed
Axa Private Equity and China’s Fosun International have suffered a setback in their takeover of France-based vacation resort operator Club Méditerranée (Club Med), as French regulators decided not to rule on shareholder opposition to the deal before...
Alibaba acquires VC-backed cloud computing Kanbox
Alibaba Group has agreed to buy Kanbox, a Chinese cloud storage service provider backed by Susquehanna Asia Investment and DCM. The value of the deal was not disclosed.
Japan's Lixil acquires TPG-backed faucet maker Grohe
Lixil Group, a Japanese toilet manufacturer, has agreed to acquire Grohe, a German maker of faucets backed by TPG Capital and the private equity arm of Credit Suisse (formerly CSFB Private Equity), for JPY400 billion ($4 billion).
Japan's KDDI, Cisco lead $10m Series A for Moxtra
Japanese telecom firm KDDI Corp and US tech giant Cisco Systems have led a $10 million Series A round of investment for Silicon Valley-based app developer Moxtra. Other investors include China's Innovation Works and Starwood Capital's Barry Sternlicht.
Ant Capital invests $11m in construction software firm Kozo Keikaku
Japanese private equity firm Ant Capital Partners has agreed to acquire a 30.4% stake in Japan-listed construction software developer Kozo Keikaku Engineering from existing shareholders for JPY1.15 billion ($11 million).
TPG exits China leasing business to Haitong Securities for $715m
TPG Capital has agreed to sell Chinese financial leasing business UT Capital Group to Haitong International Holdings for approximately $715 million. It brings to an end a five-year ownership period during which UT Capital has expanded its activity from...
Horizons Ventures backs Zoom Video Series B round
Hong Kong billionaire Li Ka-Shing’s Horizons Ventures, which is known for investments in Facebook and Skype, has led a $6.5 million Series B funding round for Zoom Video Communication, a California-based cloud conferencing operator.
Australia’s Ironbridge alters LP secondary exit proposal
Ironbridge Capital’s LPs will not be obliged to commit capital to a new fund as a condition of participation in a vehicle set up by the Australian GP to absorb assets held by its first two funds. AVCJ understands that the proposal has been amended so...
Khazanah picks CIMB’s Charon Wardini Mokhzani as exec director
Malaysian sovereign wealth fund Khazanah Nasional has appointed Charon Wardini Mokhzani as executive director in the managing director’s office. Charon is currently deputy CEO of CIMB Group, head of investment banking and CIMB Investment Bank chief.
PE-backed Cheniere Energy Partners files for $690m IPO
Cheniere Energy Partners (CEP) - a subsidiary of Cheniere Energy, a US liquefied natural gas (LNG) company backed by Hong Kong's RRJ Capital and Blackstone credit arm GSO Capital - hopes to raise as much as $690million through an IPO on the New York Stock...
CIC takes 12% stake in Russian potash producer
China Investment Corp. (CIC) is now the second largest shareholder in Russia's Uralkali - the world's biggest potash producer - after it converted bond holdings into equity equivalent to a 12.5% stake.
Shareholders approve Shuanghui's $4.7b acquisition of Smithfield Foods
Shareholders of US pork producer Smithfield Foods have approved the company's $4.7 billion acquisition by its PE-backed Chinese counterpart Shuanghui International.
Malaysia launches $100m clean tech fund
Malaysia has teamed up with Japan-based Asian Energy Investments to form a $100 million venture capital fund to invest in clean technology in South East Asia.
Macquarie hires 3i’s Paul Su in China
Macquarie Capital has named Paul Su, former senior director at 3i Group, as senior managing director and chairman for Greater China.
MSPEA-backed privatization of Yongye wins board approval
A $339 million management buyout offer for Yongye International, supported by Morgan Stanley Private Equity Asia (MSPEA), has won board approval. The US-listed Chinese animal and plant feed maker is now set to be taken private, pending a shareholder vote.
KKR, CDH invest in $140m China dairy farm joint venture
KKR has completed its first majority investment in China, partnering with CDH Investments and China Modern Dairy in a $140 million greenfield farming joint venture that will deliver premium raw milk to domestic consumers.
PE-backed OzForex plans $413m IPO
OzForex Group - an Australian online foreign exchange services provider backed by The Carlyle Group, Accel Partners and Macquarie Group - plans to raise $440 million in its Australian IPO scheduled for October 11.
Abraaj exits Philippines hospital DMMC
The Abraaj Group has made a full exit from Daniel O. Mercado Medical Center (DMMC), a tertiary care hospital based in the Philippines. The exit is said to have been through a buy-back arrangement with the Mercado family.
SMRJ, Daiichi Sankyo, Mitsubishi UFJ launch $10m pharma fund
The Organization for Small & Medium Enterprises and Regional Innovation Japan (SMRJ), pharmaceutical firm Daiichi Sankyo and Mitsubishi UFJ Capital are together launching a new JPY1 billion ($10 million) fund to invest in pharmaceutical start-ups working...