News
Apollo plans India launch
Newly listed private equity major Apollo Global Management is set to enter India, and may earmark up to $1 billion for the market
Milestone appoints Arya's wife, brother to board of directors
Milestone Capital has inducted the wife and brother of late managing director and CEO Ved Prakash Arya (pictured) onto its board of directors, coming as an executive committee looks to replace Arya weeks after his accidental death.
Morphlabs gets Series C capital from Japanese, Indonesian investors
Specialty cloud-computer software company Morphlabs has raised $5 million as part of a Series C round of funding from strategic partners BBT of Japan and a private, Indonesia-based investor group. It will use the funds to expand its operations in Southeast...
LVMH, PE compete for Amanresorts
LVMH Group is competing with unnamed private equity firms to acquire luxury Southeast Asia-based hotel chain Amanresorts International, Bloomberg reported, in a deal that could be worth $450 million.
Former Kroll, HSBC Asia heads launch regional advisory firm
Chris Leahy, Kroll’s former head of Asia, and Nicholas Bryan-Brown, former head of investment banking for Asia Pacific at HSBC, have launched regional advisory firm Blackpeak Group, which focuses on corporate, private equity and hedge fund clients.
CVC considers refinancing options for Nine Entertainment
CVC Asia Pacific is looking into refinancing options for up to A$3.5 billion ($3.7 billion) in debt on the books of portfolio company Nine Entertainment. Sources told Reuters that – contrary to earlier reports – the private equity firm is not yet...
Tim Chang leaves Norwest for Mayfield
Mayfield Fund has recruited Norwest Venture Partners’ Tim Chang as managing director. He will become the private equity firm’s sixth current investing managing director and take charge of the investment practice in China.
WestBridge looks to exit portfolio companies of yesteryear
WestBridge Capital – which was re-launched by its original founders in February - is looking to exit portfolio companies in which it invested prior to merging with Sequoia. According to India’s Business Standard, this includes stakes in Indecomm Global,...
CVC resumes efforts to sell Japanese shoe repair chain
CVC Asia Pacific has hired Mizuho Securities to advise on the sale of shoe repair chain Minit Asia Pacific and invitations have been sent for first-round bids, according to Reuters.
Asia Pacific SWFs, public pension funds hold 25% of global AUM
Asia Pacific sovereign wealth funds and public sector pension funds now account for $3.2 trillion in assets under management, 25% of the global total.
Chinese online game developer to launch VC fund
Perfect World, the NASDAQ-listed online game developer, will launch a venture capital fund focusing on the technology, media and telecommunications sectors.
Hony makes first QFLP investment
Hony Capital has made the first investment under Shanghai's Qualified Foreign Limited Partner (QFLP) program. The firm has reportedly agreed to invest in Shijiazhuang Hongray Group, a disposable gloves manufacturer. Financial details were not given.
PAG commits $250m to NASDAQ-listed Funtalk China
PAG Asia Capital has agreed to invest $250 million in Funtalk China Holdings, a NASDAQ-listed company that controls Chinese subsidiaries involved in the distribution and retail of mobile phone handsets, accessories and content.
Temasek hires BofAML executive Tan Chong Lee
Temasek Holdings has poached Tan Chong Lee from Bank of America-Merrill Lynch (BofAML). The sovereign wealth fund confirmed the appointment but didn’t provide details of the role. Sources told Reuters that Tan, who was BofAML’s Southeast Asia head...
KKR, Sino-Ocean launch $140m real estate fund
KKR has launched a $140 million Chinese real estate fund with property firm Sino-Ocean Holdings to “capitalize on the long-term potential in China’s real estate market.“
IFC invests $29.6m in MFI Bandhan Financial
The International Finance Corp. (IFC), the investment arm of the World Bank, has acquired nearly 11% of microfinance firm Bandhan Financial Services for a reported INR1.35 billion ($29.6 million). The deal first came to light last month.
Indiareit Fund invests in luxury residential project in Mumbai
Indiareit Fund Advisors, a private equity real estate fund backed by Indian entrepreneur Ajay Piramal, has reportedly invested INR2 billion ($43.8 million) in a luxury residential project in Mumbai, which has been developed by Omkar Realtors and Developers.
BofA sold CCB stake to Chinese consortium
China’s State Administration of Foreign Exchange, the National Social Security Fund and CITIC Securities have emerged as the buyers of the 5% stake in China Construction Bank (CCB) sold by Bank of America (BofA) for $8.3 billion, the Financial Times...
Anacacia Capital fund named world’s top performer
A vehicle launched by Australia’s Anacacia Capital has been named the top performing fund globally by Pensions and Investments magazine. Anacacia Partnership I, which closed in 2007, was judged to be the outstanding performer out of funds raised between...
Barclays Capital hires Morgan Stanley's Andrew Richards to head Asia PE
Barclays Capital had reportedly headhunted Europe-based Morgan Stanley managing director Andrew Richards to head its private equity unit in Asia Pacific.
Permira's top LP SVG Capital sees 25% rise in asset value
UK-based Permira Advisers’ most prominent LP SVG Capital has announced a 25% increase in its assets’ value in the first half of 2011. This was largely attributed to strong performances by Permira portfolio companies including Galaxy Entertainment...
Investigators seek details on all DE Shaw India deals – report
Indian investigators probing alleged foreign exchange irregularities relating to an investment made by DE Shaw have asked the Foreign Investment Promotion Board (FIPB) for details of all domestic entities that received funding from the private equity...
PE-backed spices firm VKL in talks with Olam
Indian spices processor Vallabhadas Kanji (VKL), of which Argonaut Private Equity and Ascent Capital are minority backers, is close to securing a strategic investment agreement with agricultural commodities giant Olam.
Temasek's Charles Ong joins brother Richard at RRJ Capital
Charles Ong, senior managing director of Temasek Holdings, has been “seconded” to newly formed RRJ Capital, run by his brother Richard, who co-founded Hopu Investment Management.