July 29, 2013 / 8:20 AM / in 4 years

Asia Private Equity Weekly News, July 29, 2013

HONG KONG, July 29 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending July 26.


MALAYSIA‘S STATE pension fund will invest half a billion euros ($660 million) in industrial property in Germany and office space in France, according to sources familiar with the deals, signalling growing appetite for high-yielding property assets as Europe’s main economies show signs of recovery.

MEIJI YASUDA Life Insurance Co said it has agreed to buy a 15 percent stake in Thai Life Insurance Co as Japanese insurers step up their presence in Southeast Asia.

CHINA‘S $500 billion sovereign wealth fund, China Investment Corp, returned to profit growth in 2012, citing growing traction in the global recovery at the end of the year and a steady improvement in risk asset prices.

KKR & CO LP said that its second-quarter earnings declined by 74 percent as a lower appreciation in its private equity funds overshadowed a quadrupling in the cash it received from the profits its funds generated.

U.S. LAWMAKERS are concerned a Chinese company’s planned $4.7 billion acquisition of pork producer Smithfield Foods Inc could affect the safety and availability of heparin, a blood-thinner widely used in heart surgery and kidney dialysis that is derived from pig intestines.

CLSA CAPITAL Partners, the alternative asset management arm of CLSA, said it has invested 550 million rupees ($9.33 million) through its ARIA Investment Partners IV L.P. funds in Luminous Water Technologies Private Ltd, part of the SAR Group. ()


JAPAN‘S AEON Co Ltd and state-owned China Resources Enterprise Ltd are among the suitors considering bids for the Hong Kong supermarket business being sold by billionaire Li Ka-shing, people familiar with the matter told Reuters.


NATIONALISED FRANCO-Belgian banking group Dexia has set GCS Capital a July 30 deadline to conclude its planned 380-million-euro ($502.3 million) purchase of Dexia Asset Management, after which the sale will be cancelled.

SUMITOMO MITSUI Banking Corp said it has agreed to buy Societe Generale’s private banking business in Japan for an undisclosed sum.


PRIVATE EQUITY-backed Taiwan cable television operator China Network Systems Co is raising a loan of NT$40 billion ($1.34 billion) to restructure its debt ahead of a proposed Singapore IPO, Basis Point reported, citing sources.

KKR SAID that William Sonneborn, who heads its corporate credit and equity investments and is chief executive of its publicly traded specialty finance company KFN, would step down to pursue a new challenge.


KKR HAS sealed its first deal in Indonesia, agreeing to buy a 9.5 percent stake in food company PT Tiga Pilar Sejahtera Food Tbk, the two companies said in a joint statement. Terms of the deal were not disclosed.

SINGAPORE STATE investor Temasek Holdings Pte Ltd said it has named Lim Boon Heng as its next chairman, giving the non-executive role to a former government minister as the firm’s long-serving chairman retires next month.

INDIA AND Southeast Asia-focused private equity firm Everstone Group has agreed to invest 2 billion rupees for a significant minority stake in Indian commercial vehicle financing firm Hinduja Leyland Finance, the companies said.

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