News
India's L&T plans infrastructure-focused private equity fund
Larsen and Toubro (L&T), an Indian engineering and construction company, is preparing to launch a private equity fund which will invest infrastructure projects, The Economic Times reported.
CIC announces 11.7% return on global investments for 2010
China Investment Corp. (CIC) saw a 11.7% return on its offshore investments in 2010, a year in which its exposure to alternative investments – such as private equity, hedge funds, real estate and infrastructure – increased sharply to 21% from 6% in...
JAIC forms $45m joint venture in Shenyang
Japan Asia Investment Company (JAIC) will form a joint venture fund with Shenyang Wanrun New City Investment Management to make investments in Chinese and Japanese firms.
GIC announces improvement in returns over last fiscal year
The Government of Singapore Investment Corp (GIC) said returns on its portfolio increased during the fiscal year ending March 2011 as equities markets improved, but warned that global economic uncertainties continue to pose a significant risk.
CPPIB makes first direct investment in Hong Kong real estate
Canada Pension Plan Investment Board (CPPIB) has acquired a 50% stake in Interlink, a Hong Kong building owned by Goodman Group, for approximately C$285 million ($301 million). The deal, which comprises an equity commitment of around C$205 million and...
Religare Capital acquires South African brokerage
Religare Capital Markets, the investment banking and institutional securities unit of India’s Religare Enterprises, has purchased a controlling stake in South African broker Noah Financial Innovation for an undisclosed price.
PE-backed IPOs reach four-year high in second quarter
Chinese and Indian firms contributed $2.7 billion of the $17.2 billion raised through IPOs by private equity-backed companies worldwide in the second quarter of 2011, according to Ernst & Young. The proceeds, which came from 45 offerings, represent the...
Blackstone closes in on its third Indian power sector deal in 15 months
Blackstone Group has signed a definitive agreement to pay INR500 crore ($111 million) for an approximate 25.2% stake in the power generation arm of Kolkata-based conglomerate Visa Group. It is the private equity firm’s third investment in India’s...
INCJ participates in Toshiba buyout of Switzerland’s Landis+Gyr
Innovation Network Corp. of Japan (INCJ), a government-backed private equity firm, will pay $680 million for a 40% stake in Swiss electronic-metering company Landis+Gyr. It is a joint acquisition with Toshiba Corp. taking the remaining 60% of the target...
KEXIM to sell KEB stake as part of Lone Star transaction
Export-Import Bank of Korea (KEXIM) will sell a 6.25% stake in Korea Exchange Bank to Hana Financial Group as a “tag along” to Hana’s purchase of Lone Star’s holding in the bank, according to Yonhap, a South Korean news agency. The tag along right...
Infrastructure India makes bid for wind farm operator
Specialist investment firm Infrastructure India has reportedly launched a takeover bid for independent power firm Indian Energy. Its offer is said to value the company at $12.8 million.
IDFC takes minority stake in GVR Infra
IDFC has invested INR150 crore ($40 million) into GVR Infra Projects, an unlisted engineering and construction firm, for an undisclosed significant minority stake.
DRC to delist mountain equipment maker Kojitsu
DRC Capital, a Tokyo-based mid-size buyout firm, will de-list Japanese mountain equipment maker and retailer Kojitsu from Osaka JASDAQ in a deal thought to be worth JPY3.14 billion ($40 million).
CLSA invests $20m in Indonesian auto financing firm
CLSA Capital Partners (CLSACP) has agreed to pay $20 million for a minority stake in PT Sinar Mitra Sepadan Finance (SMS Finance), an Indonesian auto financing firm.
A&P Financial wins court approval for Takefuji rehabilitation plan
Takefuji, a failed Japanese consumer lender, has finally received court approval for its rehabilitation plan. Korean firm A&P Financial, which beat the likes of Cerberus Capital Management, TPG and J Trust to win the bankruptcy administrator's backing,...
Audit concerns highlighted at two more Carlyle firms in China
Auditing procedures and financial controls have been called into question at China Energy Recycling and Concord Medical Services, both of which are in The Carlyle Group’s China portfolio, Reuters reported. This comes after fraud investigations at China...
CICC tipped to acquire stake in Chinese trust company
China International Capital Corp. (CICC) is poised to buy a stake in Zheshang Trust, stretching its financial industry scope to include the country’s innovative yet opaque trust sector. The company, which is part-owned by TPG Capital and KKR, will likely...
China launches first car-focused private equity fund
China’s first auto sector-focused private equity fund is looking to raise RMB30 billion ($4.6 billion) and hopes to close its first deals in August, the Financial Times reported.
Paine & Partners takes 50% of Australian fruit and vegetable producer
US-based private equity firm Paine & Partners has paid an undisclosed amount for a 50% stake in Costa Group, Australia's largest private producer of fresh fruit and vegetables. The transaction is slated to close later this year, with Costa management...
Former Lone Star head in Korea taken into custody
Paul Yoo, the former head of Lone Star in South Korea, has been detained after a Korean judge labeled him a flight risk amid allegations that he, Lone Star and the Korean Exchange Bank (KEB) manipulated KEB's stock prices.
Hony takes 20% stake in Japan's Tokai Kanko
China-based Hony Capital has taken a 20% stake in hotel chain operator and real estate investor Tokai Kanko for approximately JPY1.4 billion ($17.8 million).
CHAMP looks to sell Australian fuel transporter for $400m - report
CHAMP Private Equity is reportedly looking to sell portfolio firm International Energy Services (IES) for A$375 million ($405 million), and has attracted interest from Australian and Asian logistics firms in the sale.
Strategic Ventures sees 4x return on CBaySystems stake sale
Strategic Ventures Fund (SVF), a Mauritius-based private equity fund managed by Frontline Strategy Limited, has sold its stake in in Indian clinical-services outsourcing specialist CBaySystems, for a 4x return on its original investment, AltAssets reported.
Warbug Pincus begins Kotak Mahindra divestment
Warburg Pincus has begun the divestment process of its more than 9% stake in Kotak Mahindra Bank, selling a nearly 2% stake in the open market in recent months with more to come, local media reports.