News
Gaja backs Indian auto sales network
Gaja Capital Partners has committed INR850 million ($17.3 million) to Carnation Auto, India’s largest independent multi-brand auto sales and service network. The capital will be used to consolidate Carnation’s service business and expand its secondhand...
US pension funds move to raise alternatives exposure
Two US pension funds, Georgia Employees’ Retirement System (GERS) and Ohio State Teachers’ Retirement System (OSTRS) have made moves to boost their exposure to alternative investments.
JC Flowers circles ING Asia assets - report
US private equity firm J.C. Flowers is said to be considering a bid for the Asian insurance assets being sold by ING Group.
Avigo-backed Spykar on the block
Avigo Capital Partners has put Spykar Lifestyle up for sale. The private equity firm, which targets investments in small- and medium-sized enterprises, acquired a 60% stake in the Indian apparel chain less than a year ago.
Bona Film’s CFO to join PE fund
The CFO of Bona Film Group, the largest privately-owned film distributor in China, is leaving to become CEO of a private equity firm.
Osprey Medical plans to raise $20m in Australia listing
US-based Osprey Medical hopes to raise $20 million through a public listing in Australia next month. The medical device company submitted its prospectus to the stock exchange this week.
NSSF teams up with SDIC to boost asset value
China's National Council for Social Security Fund has signed a framework agreement with State Development and Investment Corporation (SDIC) to boost the value of the state pension fund and state-owned assets.
Mehta leaves CCB to establish PE firm
Mickey Mehta, the assistant general manager and head of corporate banking and structured finance at China Construction Bank's (CCB) Hong Kong unit, has left to start his own private equity firm.
Sunshine Oilsands down 4.3% on its IPO price in early trading
Canadian oil explorer Sunshine Oilsands ended its first morning of trading in Hong Kong down 4.3% on its IPO price. The sluggish performance was expected, largely due to delays in the offering process and negative income streams.
IDG Capital Partners raises $571m RMB fund
IDG Capital Partners has reached a final close of RMB3.6 billion($571 million) for its Harmony Capital Fund, which will target innovative companies in Beijing technology hub Zhongguancun.
Sustainable Development Capital to raise $500m for Asia cleantech
Sustainable Development Capital (SDCL), a London- headquartered investment and advisory company, plans to tap $500 million to invest in green business in Asia within the next three years.
Carlyle loses Southeast Asia MD
The Carlyle Group’s Southeast Asia managing director, Anand Balasubrahmanyan, has left the firm after four-and-a-half years, having struggled to source deals in the region. This was conspicuously the case in Indonesia, a market popular with private...
Premji invests $25m in Fabindia
Premji Invest, the $1 billion private equity vehicle backed by Wipro Group chairman Azim Premji, has invested INR1-1.25 billion ($20-25 million) for a 7% stake in Indian fashion company Fabindia.
CHAMP gets court approval for oOh!media takeover
CHAMP Private Equity has won approval from the Federal Court of Australia for its A$163 million ($176 million) acquisition of outdoor advertising company oOh!media. The firm consequently ceased trading on the Australian Stock Exchange on March 1.
Shearwater's Stead becomes Australia head at Olympus Capital Asia
Gary Stead, co-founder and managing director of Shearwater Capital Group, has become Australia country head at Olympus Capital Asia. The move came largely as a result of the difficulties raising a new fund.
PineBridge names David Jiang as CEO
David T. Jiang has been appointed CEO of PineBridge Investments, having previously spent seven and-a-half years as head of BNY Mellon Asset Management’s Asia Pacific operations. Win J. Neuger, Jiang’s predecessor, has assumed the role of vice chairman,...
VinaCapital takes full control of BTS towers builder
Vietnam Infrastructure Limited (VNI), a VinaCapital closed-end fund trading on London Stock Exchange sub-market AIM, has increased its stake in in VNC-55 Infrastructure Investment to 100%. VNC-55 specializes in building and leasing Base Transceiver Station...
Accel and Tiger Global boost Zansaar with $6m
Accel Partners and Tiger Global have invested $6 million in Bangalore-based e-commerce start-up Zansaar.com to support the brand’s organic growth.
IFC provides $20m loan to Baring-backed GIIS
International Finance Corp. (IFC) has provided a loan of up to SGD25 million ($20 million) to Global Indian International School (GIIS), which is backed by Baring Private Equity Asia.
PAG commits $250m to Chinese pharma company
PAG Asia has invested $250 million in Shaanxi–based Bicon Pharmaceutical Holdings, becoming its largest investor, according to a statement released by the pharma company on Tuesday.
China business leaders join 3i’s advisory board
3i Group has appointed two Chinese business leaders and one academic to its newly formed advisory board for the country. The new recruits are Frank Ning, chairman of food conglomerate COFCO, Dr Bing Xiang, founding dean of Cheung Kong Graduate School...
CPPIB names Mark Wiseman as new CEO
Mark Wiseman will become the next CEO of Canada Pension Plan Investment Board (CPPIB) when current head David Denison retires at the end of June.
TPG rivals mull bids for Billabong – report
The Blackstone Group and KKR are reportedly considering bids for Billabong after the Australian surfwear company rejected TPG Capital’s A$841 million ($904 million) offer but said it was willing to engage with any party that make an attractive proposal.
IFC backs Saratoga-led investment in power producer
International Finance Corp. (IFC), the World Bank’s investment arm, has paid up to $25 million for an 11% stake in Indonesian electricity producer Medco Power International (MPI). It is part of a $112 million investment by a Saratoga Capital-led consortium...