May 26, 2014 / 7:37 AM / in 4 years

Asia Private Equity Weekly News, May 26, 2014

May 26 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending May 23.

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 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 corporate governance.

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.

MAY 22

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.

MAY 21

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.

MAY 20

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 said.

CVC HAS agreed to acquire a majority stake in Hong Kong-based serviced office provider The Executive Centre Ltd from Headland Capital Partners.

MAY 19

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.

MAY 16

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 $4.02 billion.

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.

MAY 14

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 Dwivedi)

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