News
China’s Fangda poaches Freshfields partner to lead HK office
Chinese law firm Fangda Partners has hired Freshfields litigation partner Peter Yuen to head up its new office in Hong Kong, which is set to open in June. This will be the firm's first location outside of mainland China.
Edelweiss-backed CSB to float
Catholic Syrian Bank (CSB), the Indian institution backed by Edelweiss Capital, AIF Capital, Gartmore Private Equity and Siguler Guff, plans to launch an IPO by September.
Carlyle in mix for $1.8b Kyobo Life stake
The Carlyle Group appears to be one of several private equity firms vying for a $1.8 billion stake in South Korea’s Kyobo Life Insurance.
Thakral board likely to reject Brookfield’s $424m buyout offer
The board of Thakral Holdings, the Australian hotel, retail and commercial property investor, is expected to reject a A$409.8 million ($424.2 million) takeover bid from Brookfield Asset Management. The Canadian private equity firm already owns a substantial...
India considers capital gains tax cut for PE investors – report
India’s Finance Ministry is reportedly considering a move to halve the long-term capital gains tax imposed on private equity investors to 10%. It is seen as an effort to shore up PE interest at a time when there is considerable uncertainty about the...
Bright Food, Lion Capital in talks over Weetabix sale – report
China’s Bright Food Group is being lined up as a potential buyer for Weetabix, the UK-based cereal company currently owned by Lion Capital. The private equity firm has reportedly been in talks with Bright Food for several weeks over a deal that would...
Citi hires Abraaj executive to steer Pakistan business
Abraaj Capital’s Nadeem Lodhi has been appointed as head of Citigroup’s operations in Pakistan. Lodhi was previously a principal at Dubai-based Abraaj, taking responsibility for the firm’s sub-Saharan Africa business.
SAIF, Accel invest $5m in PropTiger
Venture capital firms SAIF Partners and Accel Partners have invested INR250 million ($5 million) in PropTiger Realty, an Indian online property marketing firm.
PE-backed Haitong Securities raises $1.7b in Hong Kong IPO
Shanghai-listed brokerage Haitong Securities, China's second-biggest brokerage by assets, has raised HK$13 billion ($1.7 billion) in Hong Kong’s biggest IPO since December of last year.
CDB Capital raises $1.4b for fund-of-funds
CDB Capital, the fund management arm of China Development Bank, has reached a second close of RMB9 billion ($1.4 billion) for its new private equity fund-of-funds.
KKR, Goldman invest $53m in India’s TVS Logistics
KKR has agreed to invest $47 million in TVS Logistics, an Indian supply chain manager that services the auto, distribution, electronics and component manufacturing industries. As part of the transaction, existing investor Goldman Sachs will inject a further...
Navis’ Adampak takeover offer now unconditional
Navis Capital Partners has announced that its S$110.7 million ($87.9 million) takeover offer for Singapore-listed Adampak has become unconditional, making its proposed acquisition of the label company almost guaranteed.
TPG approaches first close of $1.5b on Asia fund
TPG is nearing a first close of its latest Asian buyout fund on $1.5 billion, bringing the private equity giant one step closer to its goal of raising at least $4 billion for the region.
CDIB secures over 3x through WeMade exit
CDIB Capital, the overseas investment arm of China Development Financial Holding Corporation, has exited 80% of its investment in Korean online game developer WeMade Entertainment, realizing a money multiple in excess of 3x.
Hogan Lovells expands into Indonesia
Hogan Lovells has teamed up with Indonesia law firm Hermawan Juniarto as part of its strategy to develop a presence in the largest economy in Southeast Asia.
Bain, TPG ask for Lilliput audit report to be made public
Bain Capital and TPG Capital filed an application with Delhi High Court Thursday, requesting that an interim report by a court-appointed independent auditor on portfolio company Lilliput Kidswear be made public. The private equity firms have been in conflict...
Olympus Capital invests $38m in Karur Vysya
Olympus Capital Holdings Asia has bought a 4.8% stake in India’s Karur Vysya Bank for $38.34 million as part of a PIPE transaction. It comes one month after ChrysCapital invested $31 million in the bank.
Kedaara to hold $200m first close - report
Kedaara Capital, the private equity fund manager established last year by former Temasek India head Manish Kejriwal, is nearing a first close of its maiden fund on $200 million.
India's Future Supply Chain seeks PE funding
Indian logistics provider Future Supply Chains is seeking a second round of private equity funding in order to diversify its business into consumer-driven sectors.
MBK, Affinity runs for Korea Woongjin Coway stake – report
MBK Partners and Affinity Equity Partners are among the potential bidders for a minority stake in Korean water purifier company Woongjin Coway.
Sumitomo Mitsui halves target for Japan fund – report
Sumitomo Mitsui Trust has cut the target for its latest private equity fund by half. It follows a similar move by Unison Capital and is seen as symptomatic of the difficult investment environment in Japan.
Australia’s Hyperion to enter the private equity space
Australian hedge fund manager Hyperion Asset Management plans to enter the private equity space with the launch of A$200 million ($208 million) fund. It will seek minority positions in businesses with an EBITDA of around A$5 million, which rank second...
Blackpeak appoints ex-Control Risks executive in Shanghai
Risk advisory firm Blackpeak Group has opened an office in Shanghai and appointed Max Hirsch to head up its operations in the city. Formerly a member of Control Risks’ corporate investigation practice, Hirsch will work with Nick Blank and Jack Clode,...
Carlyle-backed AvanStrate nixes IPO again - report
AvanStrate, the Japanese LCD glass manufacturer owned by The Carlyle Group, appears to have called off its plans for a $266 million initial public offering for the second time in a year.