April 14 News and developments in Asia private
equity from Reuters News for the week ended April 11.
SPECIAL REPORT - Alvin Jiang has a knack for landing
lucrative deals in China, the world's biggest emerging market
for private equity. He is a founding partner at Hong Kong-based
Boyu Capital, now one of the hottest firms in China. Boyu has
attracted high-profile investors such as Asia's richest man, Li
Ka-shing, and Singapore's state investor, Temasek Holdings
PRIVATE EQUITY firm RRJ Capital and a unit of Temasek have
agreed to invest $250 million in Chinese logistics company
Shanghai Yupei Group, Yupei said in a statement on Thursday.
INDIA'S RATNAKAR Bank Ltd raised 3.28 billion rupees ($54.6
million) from a group of investors including the UK's CDC Group
Plc and Asia Capital and Advisors by selling an undisclosed
minority stake, the regional lender said.
CHINA'S WH Group Ltd, the world's largest pork processor,
launched a Hong Kong initial public offering of up to $5.3
billion, according to a term sheet seen by Reuters.
JAPAN'S $1.26 trillion public pension fund, the world's
largest, is looking at alternative assets, a senior official
said, as it seeks to diversify its holdings and generate higher
returns to finance a rapidly ageing population.
GOLDMAN SACHS Group and U.S. private equity firm
Warburg Pincus are among the companies that have
advanced to the next round of the sale process to buy a stake in
China Huarong Asset Management Co Ltd, people familiar with the
matter told Reuters.
VISION KNIGHT Capital, a venture capital firm co-founded by
former Alibaba.com CEO David Wei, has closed a second private
equity fund at $550 million. The fund will focus on China's
internet, ecommerce and consumer retail sectors. (link.reuters.com/tub58v)
JAPANESE RAILWAY and property conglomerate Seibu Holdings
slashed the estimated price of its initial public offering by as
much as a third, leading its top shareholder Cerberus to forego
an exit from an often fraught relationship.
FLAG CAPITAL Management said it had hired Myron Zhu as a
partner to lead its Asia operations along with Wen Tan. Zhu most
recently was head of Asia alternatives at JPMorgan. (link.reuters.com/sub58v)
FRENCH PRIVATE equity firm Ardian and Chinese group Fosun
will not increase their bid for Club Mediterranee
again even though the holiday operator's stock price
is trading above their 17.5 euro per share offer price,
according to Ardian managing partner Dominique Gaillard.
SINGAPORE STATE investment firm GIC Pte Ltd will
buy a Tokyo property from U.S. investment fund Lone Star Funds
for some 134 billion yen ($1.3 billion), the highest price since
Japan's real estate market recovery accelerated last year, three
people with direct knowledge of the sale told Reuters.
SINGAPORE STATE investor Temasek is launching
Astrea II, a co-investment vehicle with broadly diversified
holdings in 36 private equity funds, the firm said in a
PRIVATE EQUITY real estate firm Gaw Capital Partners has
agreed to buy Pacific Century Place in Beijing for $928 million.
FOXCONN TECHNOLOGY Group, Apple Inc's main contract
manufacturer, is in talks with Asian private equity firm MBK
Partners to buy Taiwanese cable TV company China Network
Systems, a source with knowledge of the matter told Reuters on
INDIAN FINANCIAL services company Avendus Capital plans to
partner with venture capital firm Zodius Capital to invest $400
million to $500 million in technology companies, the two firms
said in a statement.
(Compiled by Stephen Aldred in Hong Kong; Editing by Anand