News
Mitsubishi Corp, Creat Group to form $125m fund
Japanese trading group Mitsubishi Corp. and Beijing-based investment firm Creat Group will establish a JPY10 billion ($125 million) fund in August that will operate as a 50-50 joint venture.
Composition seals Japan real estate deals
Composition Capital Partners has concluded two residential real estate investment deals in Japan through its Composition Asia Fund II.
Intel Capital leads funding round in Skyrockit
Intel Capital, with Tokyo-based Asuka DBJ Partners and an individual investor, has led a $2.6 million round of financing in mobile entertainment firm Skyrockit, to be used for the company’s product, services and personnel expansion.
Olympus leads investment in Chinese dairy farm
Olympus Capital Holdings Asia has led a $45 million-investment in Huaxia Dairy Farm, taking a significant minority stake in the asset with co-investors Mueller Milch Management and unnamed existing investors in Huaxia.
Henderson Private Equity invests $10m in IPE Global
Henderson Equity Partners has paid $10 million for a 26% stake in Delhi-based Infrastructure Professionals Enterprise (IPE Global), a consultancy specializing in infrastructure development projects. The investment was made through Henderson Asia Pacific...
PAG makes first close on Asia buyout fund at $1.7b
PAG Asia Capital has made a $1.7 billion first close of PAG Asia I LP, a pan-Asia private equity buyout fund. The private equity firm is targeting a final close of $2.5 billion in the next few months.
Collins Booksellers to take REDGroup's Angus & Robertson franchises
Australian book chain Collins Booksellers has reached an agreement with REDGroup Retail’s administrators to take several Angus & Robertson franchises, according to local media reports.
Orchid closes fifth China fund at $650m
Orchid Asia has reached a final close on its fifth China private equity fund, imposing a hard cap of $650 million despite subscriptions amounting to 35% over the target size.
Bright Food linked to Manassen Foods bid
China’s Bright Food Group is in negotiations to buy Manassen Foods from CHAMP Private Equity, Reuters reported, citing two people with knowledge of the matter. Australian firm Manassen, which was acquired by CHAMP in 2006, is best known for Jelly Belly...
KPMG names Moyers head of US private equity group
KPMG has named Marc Moyers as head of its US private equity group. He succeeds Shawn Hessing who is retiring from the firm.
CVC takes additional $29m from Samsonite IPO over-allotment
CVC and Royal Bank of Scotland made an additional $46 million from Samonsite's Hong Kong IPO after underwriters exercised the over-allotment option to meet demand for the shares. The luggage maker's IPO initially raised $1.25 billion and the stock slumped...
Indian budget hotel chains court private equity
A number of Indian budget and mid-range hotel chains are seeking private equity investment to support their expansion plans, Mint reported.
Blackstone exited Chinese agricultural firm due to PR concerns
Blackstone Group earlier this year exited its investment in Dili Group, the parent company of a Chinese vegetable trading firm, after being warned that its involvement would complicate moves to raise prices, the Financial Times reported, citing people...
Chinese securities firms cleared to participate in private equity
Chinese regulators have formalized a five-year-old pilot program under which securities firms can participate in private equity, Reuters reported.
Nestle offers $1.7b for 60% of Chinese candy company
Nestle has offered to buy 60% of Hsu Fu Chi International, a leading Chinese confectionary company, for about $1.7 billion and then take the company private in collaboration with its family owners, Reuters reported. The deal values Hsu Fu Chi at S$3.46...
Sun Art raises $1.1b in Hong Kong IPO
Sun Art Retail Group, China’s largest supermarket operator, raised $1.1 billion through its Hong Kong IPO after pricing shares at the top of the indicative range.
Tokyo Marine, Mitsui launch $123m solar energy fund
Tokio Marine Asset Management and Mitsui & Co. are reportedly set to jointly launch a solar energy investment fund with a targeted corpus of JPY10 billion ($123.3 million). Institutional investors, such as pension funds and life insurers, have been approached...
Temasek sees portfolio reach $158b for 2010-2011 fiscal year
Temasek Holdings, Singapore’s second-largest sovereign wealth fund, said that its portfolio was worth a record S$193 billion ($158 million) at the end of its last financial year in March, up from S$186 billion ($152 billion) in 2010. Net profit came to...
Chinese autopart maker buys KSM from European buyout firm
European buyout firm Cognetas has sold German auto-parts supplier KSM Castings to China’s CITIC Dicastal Manufacturing for an undisclosed sum. Reports estimate that transaction’s value at EUR300 million ($430.5 million).
India's L&T sees $75m in pre-IPO raise
L&T Finance Holdings, a subsidiary of Indian engineering conglomerate Larsen & Toubro, has raised $75 million through a pre-IPO share placement to US private equity fund Capital International, according to a statement sent to the Bombay Stock Exchange....
New Silk Route closes in on India restaurant deal
New Silk Route Advisors expects to close its first investment in an Indian restaurant business later this month, having spent two years looking for suitable targets. The private equity firm has committed $100 million in debt and equity and plans to spend...
Lone Star, Hana agree on cut-price deal for KEB
Lone Star will sell its stake in Korea Exchange Bank (KEB) to Hana Financial Group for just over KRW4.4 trillion ($4.16 billion), after both sides agreed to cut the price tag by KRW283 billion ($266 million). The price for the 51% stake in KEB has been...
China Auto Logistics raises $5.25m through private equity placement
China Auto Logistics has raised $5.25 million through a private equity placement. The NASDAQ-listed company, which runs automobile-related websites, sells imported luxury vehicles and provides automobile-related services, sold 3 million unregistered common...
Blackstone broadens Indian IT portfolio
Blackstone is set to invest INR1.5 billion ($34 million) in Mumbai-based IT solutions firm FINO, joining existing investors such as HSBC, ICICI Bank and Intel Capital, according to Reuters.