News
Carlyle acquires healthcare staffing firm NIC for $149m
Carlyle has acquired Tokyo-based medical staffing services firm NIC Corp. for JPY11.5 billion ($149 million). The investment was made from its JPY165.6 billion yen-denominated Carlyle Japan Partners II fund, which targets mid-sized companies. It is the...
IL&FS looks to raise $900m across three funds
IL&FS Investment Managers (IIML) is looking to raise up to $900 million across three funds, but the fundraising process is expected to take longer than usual as a result of tighter risk assessment among investors globally.
CIC, KIC chairmen named to high-profile RDIF advisory board
The chairman of China Investment Corp. (CIC), Lou Jiwei, has been named to the international advisory board of the Russia Direct Investment Fund (RDIF). Choi Chong Suk, chairman of Korea Investment Corp. (KIC), will also serve on the board alongside Bader...
Mumbai metals trader seeks PE investment
Ushdev International, a Mumbai-based metals trader and wind farm operator, is seeking to raise $20-40 million from private equity investors. Managing Director Prateek Gupta said the company is in talks with a couple of PE firms about the possibility of...
New Horizon-backed Sinovel faces legal action over alleged IP theft
Sinovel Wind Group, a Chinese turbine manufacturer part-owned by New Horizon Capital, faces legal action from American Superconductor Corp. (AMSC) after one of its employees was jailed for stealing intellectual property and selling it to the Chinese firm....
Softbank invests $200m in mobile ad network InMobi
Softbank Corp. has invested $200 million in InMobi, which claims to be the world’s largest independent mobile advertising network. The Japanese telecom firm will invest in two tranches of $100 million, one due this month and the other due in April 2012.
Russia’s SWF assembles core management team
The Russia Direct Investment Fund (RDIF) has assembled its core management team with the appointment of five directors, a legal counsel and an adviser.
Archer, Ironbridge consider iNova Pharmaceuticals sale
Archer Capital and Ironbridge are looking to sell iNova Pharmaceuticals for A$700-850 million ($714-878 million). The private equity firms have appointed Greenhill Caliburn to advise on the sale process and would like to have a deal in place by the end...
Temasek, QIA back Citic Securities’ $1.9b IPO
Temasek Holdings and the Kuwait Investment Authority (KIA) are among seven cornerstone investors that have together committed $850 million to Citic Securities’ Hong Kong IPO. The company, China’s largest brokerage by market value, is seeking to raise...
PE bid for Yahoo complicated by Asia business interests
Yahoo’s 40% stake in Chinese B2B platform Alibaba Group and its 35% holding in Yahoo Japan have emerged as key elements of any potential private equity bid for the US internet company.
Fosun, Prudential announce insurance joint venture
Chinese financial conglomerate Fosun Group and Prudential Financial have announced their life insurance joint venture, the first such partnership between Chinese and foreign parties since 2008. Fosun and Prudential – known outside the US as Pramerica...
Indian pizza chain owner seeks PE funding
Bangalore-based United Restaurants, which owns the US Pizza chain, is looking to raise INR600 million ($12.6 million) from private equity funds to finance its expansion plans. It is the latest in a string of fast-food chain to enter the market for third-party...
IAC’s Match.com invests in Chinese dating website
IAC-owned Match.com has purchased a 20% stake in Chinese dating website Zhenai Inc. Details of the transaction have not been disclosed.
RRJ invests in Chinese diaper manufacturer – report
RRJ Capital, the private equity firm set up former Goldman Sachs and Hopu Investment luminary Richard Ong, has teamed up with CK Life Sciences to invest $80 million in Chinese baby diaper manufacturer AAB, Reuters reported, citing a source with direct...
Indian property developers turn to private equity
Indian property developers will borrow about $1 billion from private equity funds this fiscal year as banks cut back on lending, according to Knight Frank. PE funding to the sector came to INR12 billion ($252 million) in the last three months and the...
SBI, Kingston form $100m Greater China fund
Japan’s SBI Holdings will launch a $100 million fund with Hong Kong-based Kingston Financial Group that will invest in public and private companies in Greater China. Each party has agreed to contribute $50 million to the vehicle, which will be launched...
Tokio Marine puts Japanese drug maker up for sale
Japanese buyout firm Tokio Marine Capital is reportedly set to exit its majority stake in Showa Yakuhin Kako, a domestic drug making company, and has hired Citigroup to advise on the sale.
Regulators to address Hana's KEB offer after Lone Star court ruling
South Korean regulators will review whether Hana Financial may purchase Korea Exchange Bank (KEB) from Lone Star following a court ruling addressing allegations that the embattled US buyout manipulated KEB’s stock price in 2003 to gain a higher valuation...
Ping An granted PE investment license
Ping An Insurance, China’s second-largest insurer, has been granted a regulatory license to raise private equity and real estate funds.
Intel Capital-backed Parade Technologies launches Taiwan IPO
Intel Capital has ushered semiconductor company Parade Technologies onto Taiwan’s GreTai Securities Market, marking the second Taiwanese listing of an Intel portfolio company in as many weeks.
J.P. Morgan eyes $400m investment in SKIL Infrastructure
A J.P. Morgan Chase-backed fund will pay approximately $400 million for a nearly 20% stake in Mumbai-based SKIL Infrastructure, an infrastructure project developer with assets including ship maker Pipavav Defence – formerly Pipavav Shipyard - and Offshore...
Blackstone's Ben Jenkins to depart by the end of the year
Ben Jenkins, Hong Kong-based senior managing director at Blackstone Group, will depart the firm at the end of the year to return to New York.
Abu Dhabi Investment Authority to boost PE exposure
The Abu Dhabi Investment Authority (ADIA) is scaling up its private equity activities with a view to doubling its headcount in this area, The Al Arabiya News reported, citing sources familiar with the situation. The sovereign wealth fund currently has...
Buyout firms structure Australia investments through Singapore
Singapore has emerged as the preferred conduit for private equity firms looking to enter and exit investments in Australia from offshore. CHAMP Private Equity and TPG are understood to be among those to have set up Singapore structures in the wake of...