HONG KONG, Nov. 26 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending Nov. 22.
OAKTREE CAPITAL Group LLC, the world’s largest distressed debt investor, is among a group of firms buying shares of China Cinda Asset Management Corp as part of its up to $2.5 billion initial public offering, sources said.
HONG KONG-based private equity firm Gaw Capital Partners and three South Korean investors have teamed up to buy the London headquarters of retailer Marks & Spencer for around $321 million, adding to a string property deals by Asian investors this year.
YUANSHENGTAI DAIRY Farm, China’s fourth biggest raw milk producer, is set to raise about $425 million after pricing its Hong Kong IPO below the mid-point of a marketing range.
BARCLAYS NATURAL Resource Investments (BNRI), a private equity division of Barclays Bank PLC, and Ilex Partners, a Beijing-based advisory firm, said they have formed a strategic partnership to help BNRI develop its portfolio companies in mainland China. ()
NOMURA HOLDINGS Inc and Intermediate Capital Group have agreed a 50:50 partnership that will structure and distribute mezzanine investments and funds, to be managed by a local Japanese fund management company. ()
FULLERTON FUND Management, a wholly-owned unit of Singapore state investor Temasek Holdings, is increasing its exposure to China, encouraged by reform plans that could benefit sectors such as consumer, infrastructure, clean energy and insurance.
BLACKSTONE GROUP‘S Antony Leung is leaving his role as Greater China Chairman to lead a Hong Kong-based property conglomerate, the private equity firm said.
U.S. PRIVATE equity firm Blackstone and Indian developer Panchshil Realty are close to buying a majority stake in an office tower in Mumbai for about 9 billion rupees ($144 million), two sources with direct knowledge of the matter said.
SINGAPORE WAREHOUSE and industrial park developer Ascendas Pte Ltd said it has set up a programme with a target asset size of S$600 million ($481.60 million) to invest in Indian real estate. Singapore sovereign wealth fund GIC Pte Ltd is a principal investor in the programme.
CHINA‘S TOP securities regulator reiterated commitments to easing the government’s control over the initial public offering process, but said the government will also intensify its auditing of companies hoping to list.
ASIAN-INSPIRED jewellery company John Hardy Group is exploring a potential sale, according to people familiar with the matter. Bali-based John Hardy, a portfolio company of British private equity firm 3i Group PLC, has hired Rothschild to conduct a sales process, which is in the early stages, the sources said.
ASIA PRIVATE equity firm RRJ Capital is launching an up to $1 billion real estate fund that will mostly target investments in China, the firm’s founder, former Goldman Sachs dealmaker Richard Ong, told Reuters.
A GOVERNMENT body called on Hong Kong’s regulators to step up reforms to maintain the city’s competitive edge as a premier offshore yuan hub and a global financial centre.