News
Q&A: Hony Capital's John Zhao
Hony Capital has raised a total of $4 billion for its latest renminbi and US dollar funds. John Zhao, CEO of the Chinese private equity firm, tells AVCJ how he plans on spending it
PE-backed Sunshine Oilsands prepares for Hong Kong IPO
Sunshine Oilsands, a Canadian oil exploration company backed by Hong Kong private equity firm Cross-Strait Common Development Fund as well as several Chinese state-owned enterprises, could raise up to $700 million through an IPO in Hong Kong. This implies...
Mourant Ozannes opens Hong Kong office
Mourant Ozannes, one of the leading global offshore law firms, has enlarged its footprint in Asia by opening an office in Hong Kong. Three partners have relocated to Asia where they will focus initially on investment funds, corporate and finance work.
India’s Flipkart raises $150m in fourth round of funding
Indian online retailer Flipkart has raised $150 million from existing investors Accel Partners and Tiger Global Management in its fourth round of funding.
Unitas backs Chinese casual dining chain Babela’s
Unitas Capital has invested $40 million in Chinese restaurant chain Babela’s Group, best known for operating an Italian-themed casual dining chain that has over 120 outlets in Shanghai and Beijing, as well as in tier-two and tier-three cities. The company...
Asian investors back eco-fuels producer LanzaTech
The Malaysian Life Sciences Capital Fund led a $55 million Series C round of financing for low-carbon fuels producer LanzaTech. Petronas Technology Ventures and Dialog Group, also Malaysian firms, participated in the round, as did existing investors Khosla...
Ashmore among the suitors for Milestone Capital – report
Milestone Capital, the Indian private equity firm set up by Ved Prakash Arya, who died last year, is attracting interest from Ashmore Investment Management as well as a clutch of local financial services players. Arya’s family are seeking around INR3...
CDB fails to land RBS aviation unit despite making highest bid
China Development Bank (CDB) made the highest bid for Royal Bank of Scotland’s aviation-leasing unit but lost out on the transaction due to concerns about its ability to close the deal. The asset was sold to Sumitomo Mitsui Financial Group (SMFG) for...
IL&FS signs off five real estate part-exits in 4Q
IL&FS Investment Managers (IIML) completed partial exits from five of its investments in Indian real estate in the fourth quarter of 2011. It also invested INR7.7 billion ($154 million) in the three months to December 2011.
SBI, Edelweiss create $100m India PIPE fund
SBI Holdings and Edelweiss Financial Services have agreed to set up a fund focused on investments in listed small and mid-cap companies in India. The vehicle, known as EW SBIH Crossover Fund and based in Mauritius, will have initial capital of $100 million,...
Warburg Pincus promotes three Asia professionals to MD level
Warburg Pincus has named three new managing directors in Asia, including Zhiming Yue and Joe Gagnon in Hong Kong, as well as Nitin Nayar in Mumbai. It is part of a wave of promotions globally, which has seen nine senior professionals elevated to managing...
3i India invests $61m in Supreme Infrastructure
3i India will pay $61 million for a minority stake in a portfolio of four road companies held by Supreme Infrastructure India (SIIL), a Mumbai-based infrastructure company. The private equity firm will take a 49% stake in SIIL's subsidiary Supreme Infrastructure...
CITIC PE teams up with Sany to acquire Putzmeister - Updated
Sany Heavy Industry, the Chinese construction-equipment maker, and CITIC Private Equity will acquire Putzmeister, a German manufacturer of high-tech concrete pumps, in one of the largest China outbound deals involving a local private equity firm. CITIC...
MCap-backed Jyothy Labs secures $110m loan
Jyothy Laboratories, the Indian consumer products maker backed by MCap Fund Advisors, has raised an INR5.5 billion ($110 million) loan to refinance its debt.
CITIC PE teams up with Sany to acquire Putzmeister
Sany Heavy industry, the Chinese construction-equipment maker, and CITIC Private Equity will acquire Putzmeister, a German manufacturer of high-tech concrete pumps, in one of the largest China outbound deals involving a local private equity firm. CITIC...
E&Y: India is world’s fourth most attractive FDI destination
India is the fourth most attractive investment destination globally, after the US, China and the UK, according to an Ernst & Young survey. Investors are drawn by the strong potential of the country’s domestic market, cost competitiveness and access...
BlackRock, DSP Group to roll out PE fund
BlackRock has teamed up with DSP Group, one of the oldest financial services firms in India, to set up a private equity fund which will target mid-sized companies.
Lone Star wins approval for KEB sale
Embattled buyout firm Lone Star has finally gained approval from the necessary parties for the sale of its 51% stake in Korea Exchange Bank to Hana Financial Group.
Wolseley exits Freshmax to Maui Capital
Wolseley Private Equity has fully exited Australian fruit and vegetables supplier Freshmax through a secondary sale to Maui Capital, an Auckland-based private equity firm. The deal closed before the end of 2011, giving Wolseley enough time to return money...
FBI searches offices of firm linked to Chinese reverse takeovers
The Federal Bureau of Investigation has conducted a search of the offices of New York Global Group, a private equity investment and corporate advisory firm. New York Global, led by Benjamin Wey, helped Chinese companies go public in the US through reverse...
Sequoia invests $3.9m in Indian recharge portal
Indian E-commerce portal Freecharge.in has raised INR200million ($3.9million) in its series A round of funding from venture capital firm Sequoia Capital.
Lok Capital’s second fund closes at $65m
Mumbai-based venture capital Lok Capital has closed its second fund at $65 million, a social venture capital vehicle targeting microfinance providers directly as well as companies that support the microfinance ecosystem.
GMR Infrastructure nears PE investment in roads business
GMR Infrastructure is close to sealing a INR6 billion ($120 million) private equity investment in its highways business, which will enable the company to finance a INR75 billion project it won last year to build a road between Ahmedabad and Kishangarh...
Advantage Partners to buy Japanese homebuilder
Advantage Partners will acquire Japanese homebuilder Yasuragi in a take-private transaction worth JPY13 billion ($166 million). The private equity firm has agreed to pay JPY627 per share for all outstanding shares in Yasuragi, a 60.8% premium on Thursday’s...