HONG KONG Oct 8 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending Oct. 4.
PRIVATE EQUITY firm Ardian, which was recently spun off from French insurer AXA, has completed fundraising for a new 2.4 billion euro ($3.26 billion) buyout fund with fresh money from the United States and Asia.
STANDARD CHARTERED PLC, DBS Group Holdings Ltd and HSBC PLC have submitted first round bids for Societe Generale's Asian private bank valued at $600 million, people involved in the sale told Reuters.
TPG CAPITAL-backed private equity firm Northstar Group is seeking to raise around $1 billion in a new fund to invest in Southeast Asia's fast-growing economies, people familiar with the matter told Reuters.
THE COFFEE Bean & Tea Leaf, in which three private equity firms recently bought stakes, may consider an initial public offering or a strategic sale over the next few years as part of an exit strategy for investors, its CEO said.
MYANMAR'S NEW mining law, designed to help clear the way for foreign investment in the country's huge minerals sector, could be enacted as soon as March, an official with the country's Ministry of Mines said.
IN LLOYD'S Banking Group's international garage sale, Pepper Australia and Macquarie Group submitted competing bids for assets that the British bank is offloading in Australia as the auction drew to a close.
INTERMEDIATE CAPITAL Group, which manages 12.5 billion euros in proprietary capital and third party funds, said it hired Nyree Hu as a director focused on pan-Asia distribution. ()
KKR & Co LP agreed to buy a 10 percent stake in white goods maker Qingdao Haier, the two companies said, in the U.S. private equity firm's biggest investment in China to date.
AXA's private equity arm said it had completed a spin out from its parent company, with management and employees taking the biggest stake of the newly named Ardian.
ASIA PACIFIC syndicated loan volume excluding Japan of $90.4 billion in the third quarter pushed lending to $279 billion in the first nine months of 2013, 27 percent higher than the same time last year, despite a weaker macroeconomic picture.