Asia Private Equity Weekly News, March 4, 2013

HONG KONG, March 4 Sun Mar 3, 2013 8:25pm EST

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

MARCH 1

A CONSORTIUM led by Carlyle Group and company management has reached a deal to take Chinese economy hotel chain 7 Days Group Holdings Ltd private, after raising its bid by 9 percent to $688 million.

CARLYLE SET guidance on the 20.3 billion yen ($217.24 million) IPO for Japanese automotive industry systems supplier Broadleaf at 1,040 to 1,080 yen, IFR reported.

TETRAD VENTURES, a vehicle for Singapore's GIC Private Equity, sold its entire holding of 94.2 million shares in vegetable processor China Minzhong Food Corp, equivalent to a 14.4 percent stake in the company, in a S$105.5 million ($85.10 million) trade, IFR reported.

FEB 28

BLACKSTONE GROUP LP is driving the migration of private equity money into India's commercial real estate after the global financial crisis cooled the country's once-ardent residential segment and the number of unsold new homes surged.

THOUSANDS OF retail investors in the Chinese city of Tianjin say they were tricked out of more than $500 million by sellers of illegal wealth management products - part of a growing problem stemming from China's rush to develop its private equity sector.

BRITISH PRIVATE equity firm Apax Partners LLP raised $90.2 million after selling a 4.2 percent stake in India's Apollo Hospitals Enterprise Ltd through blocks of shares, a source with knowledge of the sale told Reuters.

HONG KONG buyouts firm AID Partners, an investor in Legend Entertainment which co-produced the Batman trilogy and Superman, said it had bought British music and video retailer HMV's Hong Kong and Singapore operations for an undisclosed amount.

ARCHER CAPITAL has agreed to buy the aged care business of Lend Lease for A$270 million, Lend Lease said in a statement.

TENCENT HOLDINGS, China's biggest online gaming and social networking company, has set up a joint venture with Indonesia's biggest media group PT Global Mediacom to tap the country's growing social media market.

KKR & CO LP has agreed to charge Washington State Investment Board a low 1 percent management fee on the pension fund's $250 million follow-on commitment to KKR North American Fund XI LP, which has struggled to meet its $8 billion fundraising target, Thomson Reuters publication Buyouts reported.

XINYI GLASS Holdings said it was starting preparation work for the possible spin-off and separate listing of its solar glass unit. The company cancelled a $150 million spin-off plan in 2011, before announcing plans to raise HK$1.39 billion ($179 million) from hedge fund Och-Ziff.

FEB 27

NEW YORK-based OrbiMed Advisors plans to launch its second pan-Asia healthcare fund towards the end of 2013, setting aside $500 million to invest in the fast-growing markets of India, China and other Asian countries.

BARING PRIVATE Equity Asia is selling Payroll Inc, a payroll outsourcing company worth about $50 million it acquired in 2008, Basis Point reported citing sources.

FEB 26

SINGAPORE SOVEREIGN wealth fund GIC cut its stake in warehouse operator Global Logistic Properties (GLP) by about a quarter, selling around 596 million GLP shares at S$2.60 each to raise around $1.25 billion, according to a term sheet seen by Reuters.

FEB 25

CHENIERE ENERGY PARTNERS, the only company licensed to export U.S. natural gas to major importers overseas, said it was raising $372.2 million to help build a gas liquefaction facility, by selling common units to investors including RRJ Capital and Blackstone's GSO Capital.

LONDON-LISTED private equity firm Origo Partners said it has formed joint venture company with Myanmar's Serge Pun & Associates, to invest in natural resources and other sectors in Myanmar.

INDIA'S PRIVATE equity backed Ratnakar Bank, whose top ranks are filled with pros from Wall Street banks, has expanded its business into India's poor, rural areas, a tough market long neglected by the country's financial groups.

CLSA CAPITAL Partners said it has invested $10 million into China water membrane maker Scinor Water Limited.

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