Asia Private Equity Weekly News, October 21, 2013

HONG KONG, October 21 Mon Oct 21, 2013 12:26am EDT

HONG KONG, October 21 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending October 18.

OCTOBER 18

U.S. PRIVATE equity firm TPG Capital will pay HK$1.66 billion ($213.73 million) for 21st Century Fox-controlled Star Entertainment's remaining stake in Chinese satellite television operator Phoenix Satellite Television .

JAPAN'S GOVERNMENT Pension Investment Fund (GPIF) is making initial moves toward investing in private equity, sources say, a potentially big step in the world's biggest public pension fund's strategy of shifting some of its $1.2 trillion in assets towards riskier investments.

HUTCHISON WHAMPOA, controlled by Asia's richest man, Li Ka-shing, has scrapped a plan to sell its Hong Kong supermarkets business, ParknShop and will instead focus on expanding in China, it said.

OCTOBER 17

PACTERA TECHNOLOGY International Ltd, China's largest technology outsourcing company, agreed to be taken private by a consortium led by Blackstone Group LP for $625 million, after a month of wrangling over the sale price.

CHINESE COMPUTER maker Lenovo, which has signed a non-disclosure deal to examine BlackBerry's books, faces regulatory obstacles if it bids for all of the company and will likely pursue just parts, a source familiar with the matter said on Thursday.

OCTOBER 16

PRIVATE EQUITY firm RRJ Capital is placing a bet on China's real estate market by investing $50 million in a new share issue by the Hong Kong-listed property developer CIFI Holdings Group Co Ltd.

YAHOO INC'S plan to keep a larger-than-expected stake in e-commerce giant Alibaba after the Chinese company's IPO prompted at least seven brokerages to raise their stock price targets on the U.S. company.

OCTOBER 15

INDIA'S FORTIS Healthcare Ltd has decided to sell its stake in Quality Healthcare Medical Services in Hong Kong to British medical services group Bupa for $355 million, as part of its efforts to reduce debt by selling some assets.

CREDIT FUND manager Bentham Asset Management said it has launched two New Zealand dollar funds targeted at New Zealand investors.

OCTOBER 14

CHINA-FOCUSED water treatment company SIIC Environment Holdings Ltd is raising S$260.2 million ($208.7 million) by selling new shares to investors including Chinese sovereign wealth fund CIC and private equity firm RRJ Capital.

ALIBABA GROUP'S plans to revolutionise China's retail industry, investing $16 billion in logistics and support by 2020, will open up China's vast interior and bring access to hundreds of millions of potential new customers.

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