News
Former GKN CEO joins Unitas Capital as partner
Unitas Capital has appointed Sir Kevin Smith as a partner of the firm. Formerly CEO of GKN, a FTSE100-listed global engineering and manufacturing company, Smith will be based in Hong Kong and work closely with existing executives and portfolio companies.
TPG reaches first close of its two RMB funds
TPG Capital has reached a first close of its two China funds, having received commitments of RMB4 billion ($635 million). The private equity firm said that 90% of the capital raised came from private investors rather than government-linked entities. It...
Hutchison Whampoa to acquire Orange Austria
Hutchison 3G, a unit of Hong Kong conglomerate Hutchison Whampoa, agreed to acquire Orange Austria, a mobile telecommunication company owned by France Telecom and buyout firm Mid-Europa Partners.
Baring injects $100m in RMZ India project
Baring Private Equity Partners (BPEP) has channeled INR5 billion ($100 million) into backing RMZ Corp’s acquisition of an office space project in Bangalore.
Ironbridge mulls IES SBO
Ironbridge Capital is reportedly among the private equity suitors looking to participate in the secondary buyout of CHAMP Private Equity’s International Energy Services (IES).
Warburg Pincus, Oak Hill seek exits from Indian BPO firms
Warburg Pincus and Oak Hill Capital Partners are both lining up exits from Indian outsourcing companies listed in the US. WNS plans to offer 10.5 million new and ordinary shares, which would reduce Warburg Pincus’ holding in the company from 47.84%...
CIC takes minority stake in EIG Global
China Investment Corp. (CIC), the $410 billion Chinese sovereign wealth fund, has bought a minority stake in US-based asset management firm EIG Global Energy Partners.
Portman Holdings opens Hong Kong office
Portman Holdings, an international real estate company, has announced the opening of its Hong Kong office, with the hire of Stanley Chin as a managing director for Greater China.
China nearly matches Europe for VC funding in 2011
Chinese companies attracted $6 billion in venture capital funding in 2011, up 8% year-on-year, and putting the country at near parity with Europe, which saw commitments of $6.1 billion. On a country basis, the US remains the runaway leader, with VC funding...
Jones Lang LaSalle announces new Japan head
Jones Lang LaSalle has announced that Yoichiro Hamaoka will be stepping down from his role looking after Japanese business at the firm, while ex-Goldman Sachs exec Toshinobu Kasai will succeed him.
Swire enters the bidding for Baring-backed Courts Asia
Hong Kong conglomerate Swire is reportedly among the bidders for Baring Private Equity Asia-invested electronics and furniture retailer Courts Asia. The sale could be worth close to $400 million.
Warburg Pincus completes partial exit from Kotak Mahindra
Warburg Pincus completed a public market sell down of part of its holding in India’s Kotak Mahindra Bank on Wednesday. The private equity firm raised about $170 million through the transaction.
WestSummit Capital adds two partners
WestSummit Capital, a Chinese technology-focused growth capital firm, has added David Lam as managing director and promoted Elise Huang to partner, taking the firm’s number of partners to six.
Bain, Unitas consider $400m Prestolite SBO
Bain Capital and Unitas Capital are said to have submitted second round bids to purchase China-focused motor manufacturer Prestolite Electric from First Atlantic for around $400 million.
TPG eyes PacBrands takeover
TPG and a syndicate of banks are reportedly preparing a takeover bid for listed Australian clothing and related consumer brands wholesaler Pacific Brands (PacBrands).
Warburg Pincus, Carlyle consider backing Indian NBFC – report
Au Financiers, an Indian non-banking financial company (NBFC), is reportedly in talks with Warburg Pincus and The Carlyle Group for a third round of funding.
KKR promotes Clifford Chiu to partner level
Clifford Chiu, who leads KKR’s investor relations, capital raising and capital markets activities in Asia, has been promoted to member, equivalent to partner level. He was previously a managing director at the firm.
Indian MFI Ujjivan secures $25m in fifth round funding
Indian microfinance institution Ujjivan Financial Services has raised INR1.28 billion ($25.5 million) from seven investors in its fifth round of equity funding. Wolfensohn Capital Partners and Dutch development finance company FMO committed INR400 million...
Saban Capital opens in Hong Kong
Saban Capital Group (Asia), a regional unit of the Los Angeles-based private equity firm controlled by billionaire Haim Saban, has opened a new office in Hong Kong.
Carlyle plans to sell part of HDFC stake - sources
Carlyle Group is said to be planning to sell 20 million shares in mortgage lender Housing Development Finance Corp. (HDFC). The exit could generate significant returns from the private equity firm's five-year investment in the mortgage company.
Singapore Medical to receive $4.5m from Kendall Court
Singapore Medical Group (SMG) will receive a SGD$5.6 million ($4.5 million) investment from Kendall Court, representing the private equity’s first foray into the healthcare sector.
Aureos boosts Indian packaging firm with $7m
Aureos South Asia Managers, a unit of Aureos Capital, has invested $7 million in Indian paper packaging company Sai Security Printers to help it build a new facility in Bangalore.
Advantage, Japan’s Orix abandon Yayoi buyout - sources
Advantage Partners and Japan’s Orix Corp. have reportedly dropped out of the running for software developer Yayoi, which was put on the block by MBK Partners last year.
Vivo takes US healthcare into China
Tria is a US-based company that manufactures a hair removal laser designed for use in the home or in the office. Approved by the Federal Drug Administration and already sold in the US, Canada, the UK, Japan and Korea, the device is now being primed for...