Asia Private Equity Weekly News, August 6, 2012

HONG KONG, August 6 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending August 3.

AUGUST 3

WHEN U.S. private equity firm Carlyle Group sold its stake in a Chinese chemicals maker to a rival producer last week, the deal underscored how funds are increasingly moving away from their traditional exit route of listing mainland assets in stock markets.

AUGUST 2

KKR & CO said that it has hired Akhil Puri from rival fund TPG Capital, as a Director for its KKR Capstone unit working with its India portfolio companies.

INVESTORS CHEERED U.S. private equity firm Bain Capital Partners' move to buy a 30 percent stake in technology outsourcing services provider Genpact Ltd, sending its shares to their highest in nearly two years.

AUGUST 1

A LISTED European defence company is among the five firms that have submitted main bids for a 49 percent stake in South Korean defence company LIG Nex1 worth around $440 million, a source with direct knowledge of the matter said.

JULY 31

THE PHILIPPINES' biggest state pension fund has teamed up with the Asian Development Bank and two other institutions to create a $625 million fund to finance urgently needed new infrastructure to boost growth.

GLOBAL BUYOUT fund Warburg Pincus entered into its second China deal in a month after investing $55 million in a Chinese maternity, infant and kidswear retailer, in a sign of rising private equity investment activity in China.

GERMAN FASHION house Hugo Boss said shoppers in brand-hungry China were postponing or cancelling purchases of luxury items and forecast that the United States could take over from Asia as its biggest driver of growth.

JULY 30

MALAYSIA-BASED private equity firm Navis Capital Partners on Monday said it sold PT Efficient English Services, the operator of Wall Street Institute in Indonesia, to Pearson PLC for $16.3 million.