News
CX Partners finalizes $22m investment in Transaction Solutions unit
CX Partners has finalized its acquisition of a 75% stake in the Indian ATM unit of Australia's Transaction Solutions International (TSI). The private equity firm has agreed to pay INR1.2 billion($22.13 million) for TSI India.
Blackstone targets $4b for Asian real estate fund - report
The Blackstone Group is said to be targeting $4 billion for its Asian real estate fund, making it the largest real-estate fund ever devoted to the region.
Bessemer Ventures leads $1m round in Singapore’s Nitrous.IO
Bessemer Venture Partners has led a $1 million round of seed investment in Singapore tech start-up Nitrous.IO.
Omnivore Partners buys stake in India's Arohan Foods
Venture capital firm Omnivore partners has bought a significant minority stake in pork integrator Arohan Foods for an undisclosed sum. Assam-based Arohan works with pig farmers across Northeast India and retails pork products across the country.
CDH invests $90m in HK furniture maker Man Wah Holdings
CDH Investments has acquired a 8.54% stake in Hong Kong's Man Wah Holdings for HK$700 million ($90 million) through a convertible bonds subscription. Another investor, Huaxia, also bought a 1.83% stake in the firm for HK$150 million.
StepStone reaches $450m close on secondaries fund
StepStone has held a final close of $450 million on its global secondaries fund. The vehicle, StepStone Secondary Opportunities Fund II, exceeded the original target of $350 million with commitments coming from public and corporate pension funds, insurance...
China’s SOEs asked to transfer capital gains to NSSF
China's state-owned enterprises (SOEs) should transfer their capital gains and ownership shares to the National Social Security Fund (NSSF), according to the fund's Communist Party representative.
Korea Teachers Pension Fund CIO to step down
Yun Kyu Lee is to step down as chief investment officer of Korea Teachers Pension Fund (KTPF). His replacement has yet to be announced.
L Capital buys 50% stake in Australian boot maker
L Capital Asia, the regional investment arm of luxury group LVMH, has acquired a 49.9% stake in Australian boot maker R.M. Williams for around A$52 million ($55 million).
Warburg Pincus invests in India's Avtec, Actis exits
Warburg Pincus has acquired a minority stake in Avetec, an Indian manufacturer of precision-engineered products, facilitating an exit for Actis. The value of the transaction was not disclosed.
Capital Dynamics to launch $154m Japan-focused fund-of-funds
Switzerland-headquartered asset manager Capital Dynamics plans to launch a JPY15 billion ($154 million) Japan-focused fund-of-funds. A source familiar with the matter said Japanese corporate pension funds will be among the investors in the new vehicle,...
PE firms seek partnerships with Korean corporates - AVCJ Forum
Private equity firms are best served working with South Korean conglomerates rather than competing against them for assets, with collaborative efforts to secure overseas assets a strong potential source of deal flow, industry participants told the AVCJ...
Tano India backs Shree Shubnam Logistics
Tano Capital is set to invest INR800 million ($15 million) in Mumbai-based Shree Shubham Logistics (SSL) for an undisclosed stake, supporting the company's domestic expansion.
China travel site Qunar raises new round – report
Chinese online travel bookings portal Qunar has reportedly received $57 million from majority owner Baidu, new investor Hillhouse Capital and existing backer GGV Capital.
Forum Partners appoints Gregory Wells as Asia head
Forum Partners has appointed Gregory Wells as managing director and head of Asia.
Baring PE India boosts stake in Manappuram Finance
Baring Private Equity Partners India has increased its stake in gold loan company Manappuram Finance to 9.71% through an open market transaction.
Goldman, GIC invest $100m in China healthcare play iKang
Goldman Sachs and Government of Singapore Investment Corporation (GIC) have committed $100 million to Chinese private health management company iKang.
Noah's Gopher in $80m first close on China secondaries fund
Gopher Asset Management, the private equity arm of NASDAQ-listed Noah holdings, has reached a first close of RMB500 million ($80 million) on its debut China secondaries fund.
Morgan Stanley-backed Hyundai Rotem targets IPO
Hyundai Rotem, a South Korean railway and defense systems manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has applied to the Korea Exchange for an IPO. According to local media, the company is looking to raise KRW300-400 billion ($270-360...
Formation 8 raises $448m, eyes US-Asia VC opportunities
Formation 8, a start-up venture capital firm that targets US businesses with the potential to expand into Asia, has raised $448 million for its debut fund. Headquartered in Silicon Valley, the firm has eight operating professionals based out of offices...
China's Hongye commits $100m to California's Singpoli Capital
China's Hongye International Investment Group has committed a $100 million in private equity to California-based firm Singpoli Capital to develop green energy, biochemistry, media, high-tech and real estate construction projects.
CanBank Venture invests $4.6m in India's Ashapura Garments
Canbank Venture Capital Fund (CVCF), the private equity unit of Canara Bank, has picked up an undisclosed stake in Gujarat-based Ashapura Garments for INR250 million ($4.56 million).
Hony Capital acquires 10% stake in Chinese property developer
Hony Capital has bought a 10% stakes in Shanghai-listed property developer Shanghai Chengtou Holding for RMB1.8 billion ($290 million), becoming the second-largest shareholder in the company.
KKR pays $500m for Warburg's Alliance Tire Group stake
KKR has agreed to buy Warburg Pincus’ controlling stake in Indian tire make Alliance Tire Group. Terms were not disclosed, but sources familiar with the transaction told AVCJ that KKR will pay $450-500 million for an approximately 75% stake as well...