May 26 News and developments in Asia private
equity from Reuters News for the week ending May 23.
TPG CAPITAL Management LP has raised $3.3 billion
in a new buyout fund, its sixth for Asia, a senior executive
told Reuters, with a reshuffle of senior management nearly six
months ago helping it to accelerate the fund's closure.
JAPAN'S SHINSEI Bank Ltd and Carlyle Group
are among suitors who have advanced to a final round of bidding
for Standard Chartered's Hong Kong consumer finance
unit, people familiar with the matter said.
SHARES OF Chinese e-commerce firm JD.com Inc soared
almost 20 percent in their U.S. market debut as investors sought
a piece of the country's booming online retail market, auguring
well for Alibaba Group Holding Inc's IPO-ALIB.N hotly
anticipated mega-float later this year.
JD.COM AWARDED Chief Executive and founder Richard Liu a
one-off, share-based bonus of $591 million as the company
prepared for its U.S. IPO, giving rise to concerns about
SHARES IN Australian cleaning and catering company Spotless
Group Ltd debuted at a nine percent premium to the
offer price as investors supported the country's biggest initial
public offering in almost four years.
CHINA'S BRIGHT Food Group Co Ltd said it has signed a
preliminary agreement to buy 56 percent of Israel's largest food
company Tnuva from private equity firm Apax, extending a string
of overseas acquisitions.
TENCENT HOLDINGS Ltd and Hony Capital (Beijing) Co
have bought land in a economic zone in Shenzhen, as the pilot
project seeks high-profile names to attract investment.
PROPERTY INVESTOR Secured Capital Investment Management Co,
part of PAG, has put an office tower in central Tokyo's
Marunouchi district up for sale for more than $1.8 billion,
according to four people with knowledge of the process.
WITH AMAZON.COM Inc ramping up its presence in
India, two local online retailers are preparing for tougher
competition with separate deals worth a combined $400 million
set to be finalised.
CVC CAPITAL Partners Ltd has agreed to acquire a
majority stake in Hong Kong-based serviced office provider The
Executive Centre Ltd from Headland Capital Partners.
INDONESIAN RETAILER Mitra Adiperkasa said it will
sell majority stakes in its Domino's Pizza and Burger King
chains to keep its capital to develop its other franchises.
AUSTRALIA'S TREASURY Wine Estates is betting its
Penfolds brand and a cost-cutting new CEO will boost earnings
and justify its decision to reject a $2.9 billion takeover offer
from private equity giant KKR & Co.
CHINA-FOCUSED private equity firm Hopu Investments Co. Ltd.
plans to acquire a minority share in Russia's largest untapped
copper deposit by the end of 2014, the operator of the project
CVC HAS agreed to acquire a majority stake in Hong
Kong-based serviced office provider The Executive Centre Ltd
from Headland Capital Partners.
KKR IS nearing a deal to buy Singapore's Goodpack Ltd
, the world's largest maker of intermediate bulk
containers which has a market value of S$1.36 billion ($1.1
billion), sources with direct knowledge of the matter said.
A JOINT venture between Russia Direct Investment Fund (RDIF)
and China Investment Corp plans to raise an $800
million fund to invest in infrastructure for senior living
centers and to tap rising Sino-Russia tourism, a top executive
at the Russian state-backed fund said.
CVC SAID it has completed a $3.5 billion fund for
investments in Asia, CVC Capital Partners Asia Pacific IV LP.
KKR MAY team up with a Japanese state-backed fund to find
buyout targets for its $6 billion Asian fund, a year after the
U.S. private equity firm and some rivals complained that state
funds could impinge on their investment opportunities.
THE PRIVATE equity arm of Singaporean sovereign wealth fund
GIC has agreed to buy a minority stake in the hospital
unit of Philippine conglomerate Metro Pacific Investments Corp
for 3.7 billion pesos ($85 million).
SHARES OF Jumei International Holding Ltd, which is
backed by Sequoia Capital, rose about 29 percent in their market
debut, valuing the Chinese online cosmetics retailer at about
A FUND led by Andrea Bonomi said it had raised its stake in
Club Mediterranee, one week ahead of the closure
deadline for a takeover offer for the French holiday firm that
the Italian businessman opposes.
MALAYSIA'S STATE investor Khazanah Nasional Bhd
and global private investment firm TPG have agreed to buy $132
million worth of shares in 8990 Holdings Inc, the
Philippine mass housing developer said.
(Compiled by Stephen Aldred in Hong Kong; Editing by Anupama