Asia Private Equity Weekly News, Feb 4, 2013

HONG KONG Sun Feb 3, 2013 8:59pm EST

HONG KONG Feb 4 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending Feb. 1.

FEBRUARY 1

RRJ CAPITAL, a Hong Kong firm led by prominent Asia dealmakers, the Ong brothers, has raised $3.5 billion for its second fund, a source with knowledge of the matter told Reuters, making it the second-largest Asia Pacific-based private equity fund ever raised.

U.S. COLLEGE and university endowments posted an average loss of 0.3 percent for fiscal 2012, a sharp reversal from a gain of 19.2 percent a year earlier, pressured by volatile international equity markets, according to a study released on Friday.

JANUARY 31

SHARES OF Chinalco Mining Corp International, a unit of China's top aluminium group, Aluminum Corp of China, fell as much as 11.4 percent on their Hong Kong debut, a week after pricing its $400 million initial public offering near the mid-point of an indicative range.

BLACKSTONE GROUP LP reported a 43 percent rise in fourth-quarter profit, capping what it called its best year as a publicly listed alternative asset manager, despite a lacklustre performance by its flagship real-estate business.

BRITISH PRIVATE equity group 3i said it had made strong progress in its efforts to restructure the business and was on track to cut debt below 1 billion pounds ($1.58 billion) by June.

JANUARY 30

CHINA-FOCUSED private equity firm Lunar Capital said it has established a joint venture to develop Italian kids fashion brand I Pinco Pallino in China and Southeast Asia, with plans to open 50 stores within the next five years.

PRIVATE EQUITY fund MBK Partners has expressed interest in acquiring ING Groep NV's South Korean insurance unit, the Korea Economic Daily reported.

JANUARY 28

GIANT CANADIAN pension fund Ontario Teachers' Pension Plan has emerged as a final-round bidder for the fibre-optics business of Leighton Holdings Ltd, according to sources with knowledge of the matter, a business that analysts have said could fetch as much as A$870 million ($908.15 million).

THE FORMER chairman of a Chinese mining equipment firm bought by Caterpillar Inc said he was dismayed by allegations of accounting misconduct at a subsidiary that prompted the U.S. firm to take a $580 million writedown.

CATERPILLAR, THE world's largest maker of construction equipment, posted a 55 percent drop in quarterly profit and set a cautious tone for the year, citing weak demand and oversupply.