Asia Private Equity Weekly News, July 1, 2013

HONG KONG, July 1 Sun Jun 30, 2013 9:47pm EDT

HONG KONG, July 1 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending June 28.

JUNE 28

PRIVATE EQUITY firm Boyu Capital, whose partners include former TPG executive Mary Ma and the grandson of former China president Jiang Zemin, is planning to raise its second fund and is seeking $1.5 billion, according to people familiar with the matter.

CHINA'S $500 billion sovereign wealth fund China Investment Corp has appointed cabinet official Ding Xuedong as its new chairman, two sources said, ending a three-month search.

U.S. PRIVATE equity firm TPG is interested in investing in Japanese conglomerate Seibu Holdings by either buying a stake from top shareholder Cerberus Capital Management or by acquiring new shares, people with knowledge of the matter said.

JAPAN'S LIXIL Group Corp said it will buy toilet and plumbing facilities maker ASD Americas Holding Corp (American Standard) for $542 million, acquiring shares from a unit of private equity firm Sun Capital Partners.

BUYOUT FIRM CVC Capital Partners has raised more than the 10.5 billion euros ($13.7 billion) it can accept for its latest flagship fund in just six months and will have to turn down money, a person familiar with the matter said.

JUNE 27

CARLYLE GROUP backed GDC Technology, which makes and sells digital-cinema servers, has postponed its Nasdaq IPO of up to $80.43 million, IFR reported citing sources. GDC had been set to become the second Chinese company to launch a U.S. IPO this year, after online retailer LightInTheBox Holding raised $79 million earlier in June.

JUNE 26

SOUTH KOREA said it would put 14 units of Woori Finance Holdings up for sale by the end of next year, stressing that its fourth attempt to privatise the country's largest financial holding company would be speedy and buyer-friendly.

JUNE 25

A CHINESE investor and a French private equity firm have won over Club Med with an improved 557 million euros ($729 million) takeover bid, seeking to accelerate a shift at the holiday resorts pioneer to fast-growing emerging markets.

CERBERUS CAPITAL Management failed in its push for a management shakeup at Japan's Seibu Holdings, prompting the U.S. private equity giant to hit out at the conglomerate for snubbing foreign investors.

MEIJI YASUDA Life Insurance Co has entered into exclusive talks to buy a 15 percent stake in Thai Life Insurance Co for around $700 million, people familiar with the matter told Reuters, as Japanese insurers step up their presence in Southeast Asia.

STANDARD CHARTERED Bank and a Malaysian company sponsored by SunEdison Inc, together with Malaysia-based Sun Energy Ventures have signed 134 million ringgit ($42.41 million) loan facilities for two solar projects in Malaysia, Standard Chartered said in a statement.

JUNE 24

CHINA'S HUARONG Asset Management Corp plans to raise up to $2 billion by selling a stake of 15 percent to 20 percent, two sources told Reuters, becoming the country's second asset management company to offer a minority stake to outsiders.

THE U.S. Agency for International Development (USAID) said it is partnering with Northern Lights Capital Group to invest in India's renewable energy industry. Northern Lights will contribute $100 million to Nereus Capital's India Alternative Energy Fund, which includes a $40 million credit guarantee from USAID. ($1 = 3.1595 Malaysian ringgits)

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