HONG KONG, April 22 News and developments in
Asia private equity from Reuters News for the week ended April
BLACKSTONE GROUP LP, the world's largest alternative
asset manager, reported a 30 percent increase in first-quarter
earnings on strong gains in its private equity arm which more
than offset small declines in its real estate unit.
STANDARD CHARTERED'S planned sale of its Hong Kong
consumer finance unit has drawn first-round bids from suitors
like Carlyle Group and Bain Capital, lured by the unit's
industry-beating returns, people familiar with the matter said.
WEIBO CORP executives toasted the Chinese social
media firm's debut at Nasdaq's New York headquarters. Hours
earlier in Beijing, Charles Xue, a Chinese-American venture
capitalist and prominent Weibo user, celebrated a different kind
of coming-out: his release after eight months in jail.
SHARES OF Weibo rose 19 percent in their U.S. debut,
sweeping aside concerns that Chinese censorship will hurt the
growth of the country's Internet sector and broader worries
about lofty tech-stock valuations.
INTERVIEW-SOMPO Japan Insurance and Nipponkoa Insurance,
already run as one entity ahead of their merger in September,
plan to invest "tens of billions of yen" in new areas such as
energy, environment and infrastructure, mainly through private
equity funds, company officials said.
AUSTRALIA ON Thursday appointed Deutsche Bank,
Goldman Sachs and Macquarie Capital as joint lead
managers for the initial public offering of state-owned health
insurer Medibank Private, tipped by local media to fetch about
A$4 billion ($3.75 billion).
ALIBABA GROUP Holding Ltd's IPO-ALIB.N revenue growth
accelerated in the last quarter of 2013, a timely lift for the
Chinese Internet company as it prepares to file a prospectus
next week for its highly anticipated initial public offering.
SHASUN PHARMACEUTICALS Ltd said that private
equity firm Ascent Capital Advisors India had taken a minority
stake in Alivira Animal Health Limited, a joint venture with
Sequent Scientific Ltd which develops, makes and sells
GLOBAL PRIVATE equity firm Warburg Pincus and
venture capital firm Matrix Partners China have agreed to invest
$70 million into internet-based recruitment services company
Liepin.com, the three companies said in a statement. (link.reuters.com/wet68v)
MALAYSIA'S LARGEST asset manager Permodalan Nasional Bhd has
partnered with Tokyo-based Inspire Corp to form Japan's first
fund devoted to investing in Malaysian sharia-compliant firms.
POMONA CAPITAL said it has closed its eighth secondaries
fund, Pomona Capital VIII at $1.75 billion. The fund was
targeted at $1.3 billion and was oversubscribed, Pomona said. (link.reuters.com/bet68v)
PRIVATE EQUITY firm HarbourVest Partners said it had closed
a $1 billion global direct co-investment fund which will focus
predominantly on small and mid-market companies. The fund,
HarbourVest Partners 2013 Direct Fund L.P., was oversubscribed
and closed above its $750 million target. (link.reuters.com/bas58v)
THE GLOBAL private equity industry will focus more on
emerging markets in coming years as Brazil and China become the
leading global recipients of capital from the sector, said David
Rubenstein, co-CEO of Carlyle.
CHINA-FOCUSED hospital operator Chindex International Inc
received a buyout offer of $23 per share, higher than
the $19.50 offered by TPG Capital and Shanghai Fosun
Pharmaceutical Group in February.
TWO SENIOR executives of China's biggest pork producer WH
Group Ltd received a combined $600 million payout for helping
the Chinese company seal last year's record $4.9 billion
takeover of U.S.-based Smithfield Foods Inc, an unusually high
incentive for an acquisition.
HONY CAPITAL, the private-equity firm backed by Legend
Holdings, is likely to deploy more capital in China's
state-owned manufacturing and healthcare sectors as Beijing
seeks to further restructure its government-owned companies.
CHINA QUANJUDE Group Co Ltd said it plans to
issue up to 24.95 million shares at no lower than 14.03 yuan
($2.26) per share in a private placement, to raise up to 350
million yuan, and IDG Capital Partners will subscribe to 17.82
(Compiled by Stephen Aldred; Editing by Subhranshu Sahu)