HONG KONG Feb 4 News and developments in Asia
private equity from Reuters News for the week ending Feb. 1.
RRJ CAPITAL, a Hong Kong firm led by prominent Asia
dealmakers, the Ong brothers, has raised $3.5 billion for its
second fund, a source with knowledge of the matter told Reuters,
making it the second-largest Asia Pacific-based private equity
fund ever raised.
U.S. COLLEGE and university endowments posted an average
loss of 0.3 percent for fiscal 2012, a sharp reversal from a
gain of 19.2 percent a year earlier, pressured by volatile
international equity markets, according to a study released on
SHARES OF Chinalco Mining Corp International, a
unit of China's top aluminium group, Aluminum Corp of China,
fell as much as 11.4 percent on their Hong Kong debut, a week
after pricing its $400 million initial public offering near the
mid-point of an indicative range.
BLACKSTONE GROUP LP reported a 43 percent rise in
fourth-quarter profit, capping what it called its best year as a
publicly listed alternative asset manager, despite a lacklustre
performance by its flagship real-estate business.
BRITISH PRIVATE equity group 3i said it had made
strong progress in its efforts to restructure the business and
was on track to cut debt below 1 billion pounds ($1.58 billion)
CHINA-FOCUSED private equity firm Lunar Capital said it has
established a joint venture to develop Italian kids fashion
brand I Pinco Pallino in China and Southeast Asia, with plans to
open 50 stores within the next five years.
PRIVATE EQUITY fund MBK Partners has expressed interest in
acquiring ING Groep NV's South Korean insurance unit,
the Korea Economic Daily reported.
GIANT CANADIAN pension fund Ontario Teachers' Pension Plan
has emerged as a final-round bidder for the fibre-optics
business of Leighton Holdings Ltd, according to sources
with knowledge of the matter, a business that analysts have said
could fetch as much as A$870 million ($908.15
THE FORMER chairman of a Chinese mining equipment firm
bought by Caterpillar Inc said he was dismayed by
allegations of accounting misconduct at a subsidiary that
prompted the U.S. firm to take a $580 million writedown.
CATERPILLAR, THE world's largest maker of construction
equipment, posted a 55 percent drop in quarterly profit and set
a cautious tone for the year, citing weak demand and oversupply.