News
CIC in talks over potential investment in Northern Rock
China Investment Corp. (CIC) is being courted by British entrepreneur Sir Richard Branson as a potential partner for Virgin Money in a bid for UK lender Northern Rock. The bank, which received a GBP1.4 billion government bailout in 2008, is tipped to...
IL&FS exits auto services JV to Orix Corp
Infrastructure Leasing and Financial Services (IL&FS) has exited its 50% stake in Orix Auto Infrastructure Services to Japanese conglomerate Orix Corporation, its partner in the joint venture, DealCurry reported.
Beijing software company gets Series B funding
800App, a Beijing-based CRM software services firm, has received a Series B round of funding from Salesforce.com, as well as from existing investor Sierra Ventures.
CDIB Capital appoints Victor Gao as MD
CDIB Capital has appointed Victor Gao, China head at Greater Pacific Capital, as a managing director based in Hong Kong, charged with leading the firm’s private equity investments in mainland China.
Franklin Templeton commits $9m to Indian pharma firm
Franklin Templeton Private Equity Strategy (FTPES) has invested INR450 million ($9.2 million) in Symbiotec Pharmalab, a company that produces active pharmaceutical ingredients. Details of the transaction were not disclosed.
Updated: TPG’s Australia head moves to Singapore
TPG has relocated Ben Gray, head of its Australia operations, to Singapore from Melbourne. He has taken on the role of managing partner and group head for Australia, Japan, Korea and Southeast Asia. Stephen Peel remains the other managing partner for...
Advantage Partners makes second Chinese investment
Advantage Partners has invested approximately JPY1.5 billion ($19.7 million) in Hisense Broadband Multimedia Technologies (HBMT), a manufacturer of broadband multimedia consumer electronics, The Nikkei reported.
GIC reaches agreement with Paulson & Co. over hotel assets
Government of Singapore Investment Corp. (GIC) has reached a settlement with MSR Resorts, a hotel group owned by hedge fund Paulson & Co. Under the settlement, which was approved by a US bankruptcy court judge on Tuesday, GIC will cease its near-term...
Blackstone poaches Yi Luo from Carlyle - report
Blackstone Group has poached Yi Luo, a managing director at The Carlyle Group, to bolster its dealmaking team in China. Luo will assume the role of senior managing director based in Shanghai and report to Blackstone Asia head Michael Chae, sources close...
TPG, Farallon linked to GTL Infrastructure acquisition
TPG Capital and Farallon Capital are among the private equity investors interested in telecom tower business GTL Infrastructure. Sources told The Economic Times that a PE-led consortium of telecom player is the most likely buyer of the company, which...
Boston-Power gets backing from Chinese government, GSR-led consortium
The Chinese government, in partnership with GSR Ventures and existing investors Oak Investment Partners and Stockholm-based Foundation Asset Management, has invested $125 million in lithium-ion battery maker Boston-Power.
Clove Capital targets $250m Southeast Asia growth fund
Clove Capital Partners, a spin out from EMP Global’s Asia business, plans to raise a $250 million growth capital fund that will target mid-size companies in Southeast Asia. It will principally focus on Indonesia, the Philippines and Thailand, with Malaysia...
Northstar closes in on fourth deal for $820m third fund
Northstar Pacific is poised to secure a fourth deal for Northstar Equity Partners III, which recently reached a final close of $820 million. The four transactions are expected to account for around 20% of the fund’s corpus, a source familiar with the...
Blackstone, Carlyle interested in Reliance Infratel - report
Blackstone Group and The Carlyle Group have jointly expressed interest in bidding for up to 95% of Reliance Communications’ cellular tower business Reliance Infratel, The Times of India reported. It comes one month after the buyout firms were first...
Axis divests stake in Vishwa Infrastructures to Olympus Capital
Axis Infrastructure Fund I has exited an undisclosed “significant minority stake” in Hyderabad-based Vishwa Infrastructures and Services to Olympus Capital Holdings Asia for more than INR2 billion ($42 million).
CVC considers US bond issue to cover Nine Entertainment debt
CVC Asia Pacific may service Nine Entertainment’s A$3.5 billion ($3.7 billion) in debt by raising more debt from private investors in the US. It is thought that a “144A” bond issue would raise $500 million to $1 billion that would go toward reducing...
Former CalPERS manager sets up legacy asset consultancy
A former senior portfolio manager at CalPERS has launched a company focused on helping institutional investors maximize value from non-core and underperforming legacy alternative investments.
Origo looks to exit Gobi Coal and Energy
The owners of Mongolian mining firm Gobi Coal and Energy, which include Beijing-based Origo Partners, are looking to sell the asset for as much as $750 million. Bids are due mid-October, and Goldman Sachs has reportedly been hired to facilitate the sale.
GVK seeks PE investors in Australia coal assets
GVK is in talks with several global financial institutions, including private equity firms, with a view to selling minority stakes in Australian mining assets it recently acquired from Hancock for $1.3 billion. The Indian infrastructure group needs to...
Milestone leads $23m funding round in Xinhua Travel
Milestone Capital has led a $23 million round of funding in Chinese online travel services firm Xinhua Travel, which will be used for the company’s expansion.
Chinese regulators call for clampdown on VIE investment structures
The China Securities Regulatory Commission (CSRC) has issued an internal report asking the State Council to take action against the variable interest entity (VIE) structure that underpins much foreign investment in the country.
Khosla Ventures appoints Lightspeed principal as partner
Silicon Valley-based Khosla Ventures has appointed Lightspeed Venture Partners Principal Andrew Chung as partner, charged with brokering cleantech and IT investments.
KKR closes $1b global mezzanine fund
KKR Asset Management (KAM) has made a final close on its more than $1 billion KKR Mezzanine Partners I fund, raised through global investors including insurers, pension plans, family offices and sovereign wealth funds.
CII calls for alterations to SEBI's proposed PE regulations
Private equity funds should be allowed to invest up to 33.33% of their corpus in equity and debt instruments of listed companies, the Confederation of Indian Industry (CII) has said. The group thinks this condition provides necessary flexibility to private...