News
Singapore's GIC refines investment approach
GIC Private, the Singaporean sovereign wealth fund, has recalibrated its investment framework, splitting its portfolio into three strategies intended to strike a balance between its risk and return expectations, long-term investment objectives and desire...
AIG says aircraft leasing deal with Chinese consortium is not dead
Negotiations are ongoing between American International Group (AIG) and the Chinese consortium – which includes a fund run by former Primus Financial Holdings executive Wing-Fai Ng – that has agreed to buy a majority stake in International Lease Finance...
Japan's Advantage reaches final close on $200m bridge fund
Japanese mid-market buyout firm Advantage Partners has closed its latest fund, having reached the JPY20 billion ($200 million) hard cap after about five months in the market.
SingTel Innov8 invests $10m in Fab.com
SingTel Innov8 has invested $10 million in online lifestyle store Fab.com as part of an ongoing Series D round of financing. It joins a list of strategic Asian backers as the company plans expansion in the region.
China's Zhonglu VC invests in five start-ups
A venture capital arm of Shanghai Zhonglu Group, a Chinese bicycle manufacturer, has invested a total of RMB36.4 million ($5.9 million) in five online technology start-ups. Zhonglu VC will take a 20% stake in each company.
New Zealand's Pan Pacific, Taiwan to set up $40m cross-border fund
Taiwan’s state-run Institute for Information Industry (III) and New Zealand-based Pan Pacific Capital have formed a $40 million venture capital fund, with a view to promoting cross-border deals and expanding bilateral cooperation.
Providence Equity-backed Idea Cellular to raise $616m through share sale
Idea Cellular, an Indian telecom provider backed by Providence Equity Partners, plans to issue up to INR37.5 billion ($616.1 million) in equity.
China's 58.com plans for $100m IPO in the US - report
Chinese venture capital-backed local classifieds website 58.com intends to raise at least $100 million through a US IPO later this year.
Ex-World Bank president joins Temasek board
Former World Bank President Robert Zoellick has been appointed to the board of directors at Temasek Holdings as the Singapore state-owned investment firm looks to open its first US office.
Clearlake Capital buys Australia-based auto interiors firm
Clearlake Capital Group, the Los Angeles-headquartered PE firm, has made its first investment in Australia, buying Elders’ automotive business for A$69 million ($62 million), including debt. The divestment allows Elders to become a pure-play rural and...
India's Lighthouse makes $60m first close on Fund II, eyes early 2014 completion
Lighthouse Funds has reached a first close of approximately $60 million on its second India-focused fund. The GP is now targeting a final close of $125 million in the first quarter of 2014, but as a source familiar with situation told AVCJ, economic and...
PE firms eye exit as Trimax IT Infrastructure files for IPO
India’s Trimax IT Infrastructure plans to go public, facilitating a partial exit for PE backers Aditya Birla Private Equity (ABPE), Zephyr Peacock India and BanyanTree Growth Capital.
Japan's Transcosmos buys 20% VC-backed Chinese logistics firm
Japan’s Transcosmos has bought a 20% stake in FineEx, a Chinese logistics provider backed by Shanghai Vstone Capital. The transaction size was not disclosed but it is believed to be over $10 million.
King & Wood Mallesons merges with SJ Berwin
King & Wood Mallesons and London-based SJ Berwin will merge to form a single law firm valued at $1 billion. With over 2,700 lawyers in more than 30 countries, the combined entity is expected to be one of the 25 largest law firms in the world.
Daiwa, Intec invest $2m in Japan's Repica
Japan's Daiwa PI Partners and Intec IT Capital have invested JPY200 million ($2 million) in Repica, a company that develops CRM solutions for Japanese businesses.
Baring Asia completes Korea parcel delivery buyout
Baring Private Equity Asia has announced the acquisition of South Korean courier firm Logen. Details of the deal, said to be worth around KRW160 billion ($140 million), emerged last month prior to closing. The seller is Mirae Asset Private Equity.
Founder of VC-backed ShopClues faces US charges
Sandeep Aggarwal, founder of VC-backed Indian e-commerce site ShopClues, has been arrested in the US in connection with the SAC Capital Advisors insider trading investigation. He is charged with passing confidential information to a trader concerning...
DBS abandons takeover bid for Indonesia's Bank Danamon
Singapore’s DBS Group has abandoned its $7.3 billion takeover bid for Indonesia’s Bank Danamon after deciding the regulatory hurdles were insurmountable.
Indian Angel Network invests in IndiaCollegeSearch
Indian Angel Network (IAN) investor members Vikram Kant Upadhyaya, Anupam Mittal and Varun Khurana have committed an undisclosed amount to IndiaCollegeSearch (ICS), a website that provides information on over 7,000 professional educational institutes....
Nomura, Next Capital-backed Ashikaga files for IPO - report
Ashikaga Holdings, which is backed by Nomura Financial Partners and Next Capital Partners, has applied to list on the Tokyo Stock Exchange (TSE) for what could be a $1 billion IPO.
Carlyle registers third Japan fund
The Carlyle Group has registered its third Japan buyout fund with the US Securities and Exchange Commission (SEC). Although initial reports put the target at $2 billion, sources told AVCJ in June that the GP was looking for around $1 billion.
KKR seeks investors to expand India NBFC
KKR is in talks with overseas investors to infuse capital into its non-banking financial company (NBFC) in India, KKR India Financial Services.
GCS sees Dexia asset management deal collapse - Update
GCS Capital's EUR380m ($503 million) bid to acquire the asset management arm of Dexia collapsed yesterday after the Franco-Belgian bank said the Hong Kong PE firm had been unable to pay for the deal.
GE Energy invests $42m in India hydro-electric project
GE Energy Financial Services India has committed INR2.5 billion ($42.5 million) to a hydro-power project in north-east India operated by Gati Infrastructure (GIL). The investment was made through a share subscription agreement, for an undisclosed stake....