Carlyle, Yunfeng to exit GDC to Huayi Brothers
Thu, Sept 18, 2014
(AVCJ by Winnie Liu) - The Carlyle Group and Yunfeng Capital are set to exit from GDC Technology as Huayi Brothers Media plans to acquire a controlling stake in the digital cinema equipment manufacturer.
Nova Founders Capital nabs $50M from Pacific Century Group
Thu, Sept 18, 2014
(Tech in Asia by Josh Horwitz) - Fintech startups in Asia might see an influx of new cash in the coming years. Nova Founders Capital, an Asia-focused VC firm created by Rocket internet alumni Mads Faurholt-Jorgensen and Raphael Strautch, has announced it just received a US$50 million investment from Pacific Century Group, an investment company founded by Richard Li, son of Hong Kong’s Li Ka-Shing (aka “Asia’s richest man”).
Warburg Pincus creates Asia fundraising role
Mon, Sept 15, 2014
(Asian Investor by Min Ho) - Private equity group Warburg Pincus is likely to look to raise another fund next year after having moved its Asia fundraising operations from the US to Hong Kong with the appointment of partner Eddie Huang.
PE group invests in Sinopec fuel retail unit
Mon, Sept 15, 2014
(AVCJ by Winnie Liu) - A group of private equity investors, including CICC Capital, RRJ Capital and Hopu Investment Management, have invested in Hong Kong-listed Sinopec as the Chinese oil refiner agreed to sell a RMB107.1 billion ($17 billion) stake in its retail business.
Fosun restarts Club Med takeover battle with higher bid
Fri, Sept 12, 2014
(Financial Times by Adam Thomson in Paris and Patti Waldmeir in Shanghai) - Fosun International has made an eleventh-hour counterbid to buy Club Méditerranée, in the latest move in an intensifying east-west battle for control of the French holiday group.
Fosun, China’s largest privately held conglomerate, said on Friday that it would offer €22 for each Club Med share, valuing the company at €839m. This tops an existing offer from Italian investor Andrea Bonomi, who in July launched a €21-per-share bid for the holiday group.
Carlyle raises $3.9 bln for fourth Asia investment fund
Mon, Sept 8, 2014
(Reuters by Stephen Aldred) - Carlyle Group, one of the world's largest private equity firms, said on Monday it has closed its fourth Asia fund at $3.9 billion, the second-largest private equity fund ever raised for Asia investments.
Alibaba seeks to raise more than US$24 billion in record IPO
Sat, Sept 06, 2014
(South China Morning Post by Chim Sau-wai) - Chinese e-commerce giant Alibaba Group Holding is seeking to raise up to US$24.3 billion in what could become the world's biggest ever share sale.
The company expects to price its initial public offering (IPO) at between US$60 and US$66 a share, it said in a filing to the US Securities and Exchange Commission.
Providence makes partial exit from India's Idea Cellular
Fri, Sept 5, 2014
(AVCJ by Andrew Woodman) - Providence Equity has made a partial exit from Idea Celluar, a Indian mobile network operator promoted by Aditya Birla Group, selling a 2.3% stake - or a quarter of its previous holding - for around INR14.1 billion ($234 million) via an open market transaction.
The exit from the eight-year-old investment is understood to have generated 3x money multiple, or an IRR of 15%, not counting dividends.
Asian media giants form China-focused film and TV fund
Thurs, Sept 4, 2014
(AVCJ by Winnie Liu) - Taiwan’s Fubon Group, Hong Kong's Media Asia and South Korean music giant SM Entertainment have established a media-focused fund to jointly invest in Chinese film and TV production.
The parties will inject an initial $20 million into the fund - Dragon Tiger Capital Partners - which has an overall target of $100-200 million. The fund will start fundraising from institutional investors in late September, according to a filing.
FountainVest Acquires Control of U.S. Auto Supplier Key Safety Systems
Fri, Aug 29, 2014
(Wall Street Journal by John Stoll) - FountainVest Partners, a Chinese private-equity firm, has acquired a controlling stake in U.S. auto supplier Key Safety Systems, the latest in a string of increased deal activity in the automotive supply chain.