News
Franklin names Robinson-Kok as Asia alternatives head
Franklin Templeton Investments has appointed Gregory Robinson-Kok as head of its alternative investments business in Asia. He is based in Singapore and reports to Kent Strazza, managing director of the alternative strategies group.
Partners Group adds to India direct investment capabilities
Partners Group has appointed Cyrus Driver as a managing director with the brief to strengthen the company’s direct investment activities in India. The move comes as Partners Group seeks to ramp up its direct investment capabilities across the region.
Hony to sell Elpida plant to SMIC if bid succeeds – report
Hony Capital plans to sell or outsource the operations at Elpida Memory's Hiroshima plant to China-based Semiconductor Manufacturing International Corp. (SMIC) if it wins the bid for the bankrupt Japanese chipmaker.
Hong Kong Exchange Fund doubles PE investment in 2011
Hong Kong’s Exchange Fund, the vehicle responsible for managing foreign-exchange reserves, has diversified its portfolio by doubling commitments to private equity and real estate.
Actis completes full management buyout with $100m deal
The UK government is on course to recoup more than $100 million by exiting its stake in Actis. The private equity firm’s management will buy the government’s 40% holding for GBP8 million ($13 million) in cash and also hand over a portion of the carried...
Carlyle backs China Forestry despite damning report
The Carlyle Group believes troubled portfolio company China Forestry Holdings still holds value despite the firm admitting last week that it was only able to account for 1% of its historical sales. Hong Kong-listed China Forestry has been suspended from...
Navis exits label manufacturer Trimco to Partners Group
Navis Capital Partners has sold its majority stake in Trimco International Holdings to Partners Group. The size of the deal was not disclosed but the combination of exit proceeds and dividends received over a seven-year holding period will leave Navis...
Korean government plans another attempt at Woori sale
The South Korean government will make another attempt to divest its stake in Woori Finance Holding, setting a July 27 deadline for preliminary bids. Prospective buyers must bid for at least 30% of Woori, which means the deal would be worth at least KRW2.9...
AVCJ daily bulletin returns May 2
There will be no AVCJ daily bulletin on Tuesday May 1 due to the Labor Day public holiday in Hong Kong.
Accel, IDG back Forus Health with $5m
Venture capital firms Accel Partners and IDG Ventures India have led a $5 million Series A round of funding for Indian medical technology company Forus Health.
Xander completes $40m buyout of Indian office site
Xander Real Estate Partners, the property-focused PE arm of global investment firm The Xander Group, has acquired a Grade A office park in Chennai for $40 million from Appaswamy Real Estates.
Russia, China confirm $4b joint investment fund
Russia and China have confirmed plans for a joint $4 billion investment fund, which will be backed by initial $1 billion contributions from their respective sovereign wealth vehicles. Progress on the fund was announced at an economic forum in Moscow attended...
China consider capital gains tax for PE funds
China's central government is planning to impose a 35-40% capital gains tax on investments made by private equity and venture capital funds, as part of the effort to streamline its taxation system for such vehicles.
Ekuinas completes buyout of Tanjung’s marine vessel assets
Ekuinas, the Malaysian sovereign wealth fund, will buy the 76% of Tanjung Offshore’s marine vessel services arm it doesn’t already own for MYR220 million ($72.5 million) in cash. The asset, Tanjung Kapal Services (TKS), operates 16 offshore vessels...
PEP finally seals $752m Spotless buyout
Australian cleaning and catering contractor Spotless Group has accepted an A$720 million ($752 million) buyout offer from Pacific Equity Partners (PEP). The total consideration of A$2.71 per share is higher than the private equity firm’s original bid...
Navis mulls buying Twilight Litaka stake
Malaysia-based Navis Capital Partners is in negotiations with Indian pharmaceutical company Twilight Litaka Pharma about a potential cash injection of $1.5 billion ($29 million) in the firm.
Nanostart launches Asia Pacific arm in Singapore
German-based nanotechnology VC investor Nanostart has created a new company, Nanostart Asia Pacific, as part of its expansion into the region.
Jones Lang LaSalle chief launches India real estate fund
Jones Lang LaSalle's (JLL) India CEO has reportedly left his role at the global property consultancy to launch a real estate fund with a former Merrill Lynch executive.
Nexus leads $26m Series A round for TalentSprint
Nexus Venture Partners has invested $26 million as part of a Series A round for TalentSprint, an Indian company that helps graduates and young professionals find jobs.
BlackRock, CIC to launch fund – report
BlackRock and China Investment Corp (CIC) have reportedly agreed to launch a multi-billion dollar investment fund.
IDFC Project Equity to launch second infrastructure fund
IDFC Project Equity, a subsidiary of Infrastructure Development Finance Company (IDFC), will launch its second India infrastructure fund later this year.
Korea’s Tstone agrees partnership with Newsweek
South Korea’s Tstone Corp. has entered into a partnership with Newsweek to develop the magazine’s business in Asia. This will involve expanding the existing Asian edition of Newsweek across the digital, broadcast and events space.
OMERS, Japan pension funds target $20b infrastructure vehicle
Ontario Municipal Employees Retirement Scheme (OMERS), one of Canada’s largest pension plans, has announced a first close of $7.5 billion on an infrastructure fund set up with a consortium of Japanese pension funds led by Mitsubishi Corporation. The...
DLA Piper appoints Bob Charlton as head of Asia Pacific
DLA Piper has appointed Bob Charlton as managing director for Asia Pacific. He is replacing Alastair Da Costa, who is returning to the UK after five years heading up the law firm’s business in the region. Charlton will start his new role on May 1 and...