News
IFC to deploy up to $600m in Indonesia next year
International Finance Corporation (IFC), the investment arm of the World Bank, plans to deploy $400-600 million in Indonesia during the 2013 fiscal year, having committed $300 million to eight projects in 2012.
Everstone, India Value Fund join race to buy Avigo’s Spykar - report
Everstone Capital and India Value Fund are reportedly planning to compete with several global private equity firms for Avigo Capital Partners’ 60% stake in Indian apparel chain Spykar Lifestyle.
Japan’s INCJ to compete with PE on national interest grounds
Innovation Network Corp of Japan (INCJ) is prepared to compete with privately-owned firms where doing so would be in the country's national interest. It comes after the Japanese government fund was said to be mulling making an offer last month for Renesas,...
CVC-backed Nine makes new restructuring proposal
The management of Nine Entertainment, the beleaguered Australian media company owned by CVC Capital Partners, has put forward a new proposal for restructuring its A$3.8 billion ($3.9 billion) in debt. Adrian McKenzie, CVC’s Australian managing partner...
Baker & McKenzie names new PE chair, confirms McNamara departure
Baker & McKenzie has appointed Simon Hughes as chair of its global private equity group, in place of Sydney-based Mark McNamara. A spokesperson for Baker & McKenzie also confirmed that McNamara is leaving the firm.
Asian PE fundraising slips in 3Q as RMB vehicles struggle
Asian private equity fundraising reached $10.8 billion in the third quarter of 2012, continuing a downward trend that stretches back 12 months, according to provisional data from AVCJ Research. Renminbi-denominated fundraising experienced the most acute...
Cambridge Associates opens fourth Asia-Pacific office
Cambridge Associates has opened a second office in Singapore. It will support the firm's existing consulting and investment practices in Beijing, Singapore and Sydney, as well as five locations in the US and UK.
New Silk Route adds senior operating advisor
New Silk Route has hired William I. Campbell as senior operating advisor to assist in identifying global investment opportunities. The news comes amidst reports that the private equity firm has also recruited Rajeev Gupta, former head of The Carlyle Group's...
Yishan creates JVs to tap Indonesia real estate market
Yishan Capital Partners, a Southeast Asia-focused real estate investment and asset management firm, has formed two strategic joint ventures to improve its penetration of the Indonesia market. The Yishan team, which spent more than a decade investing in...
Baring-backed Courts Asia targets $112m IPO
Baring Private Equity Asia (BPEA) portfolio company Courts Asia has launched its Singapore IPO with a view to raising S$137 million ($112 million). The electronics and furniture retailer is offering 178 million shares, of which 60 million are new shares,...
SCPE makes second investment in PepsiCo's South Asian bottler
Standard Chartered Private Equity (SCPE) has invested a further INR1.7 billion ($32 million) in Varun Beverages (VBIL), the largest bottler for PepsiCo in South Asia.
Blackstone pays $100m for minority stake in International Tractors
The Blackstone Group has committed $100 million for a 12.5% stake in India's International Tractors (ITL). The capital will be used to expand production and pursue overseas acquisitions.
Info Edge acquires Accel-backed Toostep Consultancy
Accel Partners India has exited its stake in Toostep Consultancy after the networking and recruitment company was acquired by Info Edge, India’s leading online classified advertising player. Toostep staff will be integrated into the Info Edge team.
Dragon Capital funds secure continuation vote from shareholders
Shareholders in two Vietnam-focused funds managed by private equity firm Dragon Capital have voted in support of the continuation of the vehicles.
Terra Firma, CDB to launch infrastructure fund – report
UK-based private equity firm Terra Firma and China Development Bank (CDB) are reportedly planning to launch an energy infrastructure fund worth $3-5 billion at an investor meeting this week.
Japan's GPIF considers alternative investments
Japan’s Government Pension Investment Fund (GPIF), the world’s biggest pool of retirement savings, is considering diversifying into alternative assets, including private equity. A GPIF executive told AVCJ that a consultation project began in September...
Carlyle, Unison-backed Covalent avoids bond default
Covalent, the Japanese semiconductor materials manufacturer owned by The Carlyle Group and Unison Capital, has averted a debt default by agreeing to buy back securities from its bondholders. Much like its counterpart Renesas Electronics, which is seeking...
Nalanda Capital makes more than 2x return on Shree Cement
Singapore-based private equity firm Nalanda Capital has sold a 1.61% stake in north India’s largest cement producer Shree Cement for INR2.13 billion ($40.9 million) through a bulk deal on Bombay Stock Exchange. The partial exit generated a money multiple...
MoFo adds Masahiro Shiga in Tokyo
Morrison & Foerster has appointed real estate finance lawyer Masahiro Shiga as a partner at Ito & Mitomi, the joint venture through which it provides legal services in Japan.
Loeb & Loeb launches Hong Kong office
Loeb & Loeb has launched its second Asia office in Hong Kong, having opened in Beijing three years ago. The law firm's Hong Kong operations will run in conjunction with local player Pang & Co. Benny Pang, managing partner at Pang & Co, will join Loeb...
500 Startups hires India investment professional
500 Startups, the US-based incubator founded by serial entrepreneur Dave McClure, has hired Pankaj Jain to head up its India operations. He was previously consulting for TLabs in New Delhi, focusing on deal sourcing and running the start-up accelerator...
Longreach reaches final close of $400m for fund II
The Longreach Group has reached a final close of $400 million for its second fund. The private equity firm will continue targeting control investments in Japan and North Asia, with a particular focus on the mature industrial and technology space, financial...
CVC considers Matahari share sale – report
CVC Capital Partners has reportedly asked bankers to advise on selling shares in Matahari Department Store, the Indonesian retailer it acquired two years ago for INR7.2 trillion ($616.3 million). It remains the largest ever private equity investment in...
Carlyle to sell stake in HDFC – report
The Carlyle Group is poised to sell its 3.7% stake in mortgage lender Housing Development Finance Corp. (HDFC) for approximately $850 million.