News
Atinum mulls $350m STX Energy bid
Korea’s Atinum Partners is reportedly considering making a bid for STX Energy Co, the privately-held subsidiary of Korea Exchange-listed STX Group. The deal could value the company at up to KRW400 billion ($$354 million).
Australian tech entrepreneurs to create VC fund
A group of Australian technology entrepreneurs have joined forces to create a new venture capital fund, Blackbird Ventures.
Motilal Oswal PE in $87m second close on new fund
Motilal Oswal Private Equity has reached a second close of INR4.86 billion ($87 million) on its India Business Excellence Fund II, with Squadron Capital reportedly among the investors. The fund is expected to achieve a final close by the end of the year.
Mandarin Capital warned CDB ahead of Suntech fraud scandal
Sino-Italian PE player Mandarin Capital Partners advised China Development Bank (CDB) as early as three years ago that it shouldn't invest in Suntech Power Holdings' southern Italy initiative due to concerns about fraud. The Chinese solar company has...
Innovation Works raises $148m for fund II, yet to reach close
Innovation Works, the tech incubator started by Google’s former China head Kai-fu Lee, has so raised $148 million for its second fund. Lee confirmed to Sina that fundraising efforts began in April, but didn’t disclose the target size or details of...
Indonesia’s Capsquare achieves first close on debut fund
Indonesian GP Capsquare Asia Partners has reached a first close on its debut fund, having raised three-quarters of the capital required to meet its $75 million full target. A final close is expected in the fourth quarter of 2012, perhaps as soon as late...
Colonial First State buys TDF’s broadcasting assets in Finland
Colonial First State, an Australian wealth manager owned by Commonwealth Bank of Australia, has agreed to buy French broadcasting group TDF’s Finland business. The company, known as Digita, owns Finland’s largest broadcast tower network as well as...
China arbitrator dispute leaves foreign investors uneasy
The China International Economic and Trade Arbitration Commission (CIETAC), the national body responsible for resolving commercial disputes, has suspended its Shanghai and Shenzhen branches. The move has provoked concerns among foreign investors over...
L Capital signs up Indian designers for new fashion venture
L Capital is in talks with India’s top designers and Evoluzione, a local retailer, to set up a fashion venture which will consolidate separate designer names. The PE player, part of luxury group LVMH, will invest INR2 billion ($35.9 million) in the...
Australia’s QIC to use Burgiss Group PE software platform
QIC, one of the largest institutional investors in Australia, has deployed a private equity software platform designed by The Burgiss Group, a New Jersey-based software solutions provider.
INFUSE Ventures launches cleantech incubation program
Indian Fund for Sustainable Energy Ventures (INFUSE Ventures), an early-stage fund focused on sustainable energy and cleantech, has launched a program in the Indian Institute of Management Ahmedabad to foster start-ups that require seed capital.
Apollo launches two Asia real estate funds
Apollo Global Management has launched two funds that will invest in commercial real estate in Asia, seeking up to $750 million in capital. It comes barely three months after the private equity firm disclosed that it has raised about $255 million for an...
General Atlantic denies Snapdeal interest - report
General Atlantic says it never entered into talks with Snapdeal in what would have been the private equity firm’s first foray into Indian e-commerce.
CHAMP Ventures takes majority stake in Ansett Aviation Centre
CHAMP Ventures has taken a majority interest in Ansett Aviation Centre, a training facility bought from administrators in 2004 following the collapse of Ansett Australia, the country’s second-largest carrier. It is the third investment out of CHAMP...
India’s Vistaar receives $7m from VC players
Bangalore-based small enterprise financing company Vistaar Financial Services has raised INR400 million ($7.1 million) in Series B funding from Lok Capital and Omidyar Network as well as existing investors Elevar Equity and SVB Capital Partners.
China's NDRC backs Gobi’s second RMB fund
China’s National Development Reform Commission (NDRC) has invested RMB50 million ($7.9 million) in Gobi Partners' second renminbi-denominated fund. The latest injection takes the Yingzhi RMB Fund to RMB350 million in size.
Baring, ICICI Venture plan Karvy exit – report
Baring Private Equity Asia and ICICI Venture Funds Management, the private equity arm of India’s ICICI Bank, are reportedly in talks to sell their 31% stake in Karvy Stock Broking (KSBL).
PE firms target ING’s Asian insurance assets – report
ING is said to be in talks with several parties, including Apollo Global Management, J.C. Flowers & Co. and a team backed by The Blackstone Group, over the sale of different parts of its Asian life insurance operations. The initial plan was to divest...
Silk Road Finance enters Myanmar
Frontier markets-focused investment bank Silk Road Finance has set up a Myanmar subsidiary and won a mandate to raise a private equity and venture capital fund dedicated to investing in the country.
KKR hires Akhil Puri for India Capstone team
KKR has hired Akhil Puri from TPG Capital as a director for its Capstone unit. He will lead the private equity firm’s engagement with its portfolio companies in India. Capstone’s current assignments in the country include Dalmia Cement and supporting...
Bain Capital to buy 30% stake in Genpact for $1b
Bain Capital has agreed to buy 30% of Indian business process outsourcing (BPO) company Genpact from Oak Hill Capital and General Atlantic (GA) for $1 billion. The sellers will still own 10% of the firm when the deal closes.
Ping An launches $157m venture capital fund
Ping An Insurance, the world's second-largest life insurer by market value, has established a RMB1 billion ($157 million) venture capital fund. It will target sectors including financial services, consumer products, healthcare, automobiles and tech, media...
SBI commits $3m to Indian e-learning provider
SBI Holdings has invested more than $3 million in to India’s Liqvid, an online content provider that specializes in English language training. SBI Ven Capital Singapore's Brijesh Pande will join the Liqvid board.
PE firms bid for Korean weapons manufacturer – report
Four private equity firms and a European defense company have reportedly submitted bids for a stake in South Korea’s LIG Nex1. The weapons manufacturer is offloading a 49% interest worth around $440 million.