Pacific Alliance Group (PAG) has agreed to acquire a 51% stake in India-based Edelweiss Wealth Management, which includes the wealth management, investment banking, and capital market businesses of Edelweiss Global Investment Advisors, for INR22b (approximately USD300m). Read more… Read More
GIC and Brookfield Asset Management have received government approval to acquire India-based telecom tower company Reliance Jio Infratel from a unit of Reliance Industries for INR252b (approximately USD3.4b). Read more… Read More
PAG has sold its 100% stake in South Korea-based toymaker Young Toys to a consortium including Nvestor, Corstone Asia, and Mirae-N, for USD127m. Read more… Read More
China-based smart EV company Xpeng Motors has raised USD1.5b in its IPO on the New York Stock Exchange in an offering of 99.7m shares at USD15 apiece. Existing shareholders Alibaba, Coatue, Qatar Investment Authority, and Xiaomi have subscribed for and been allocated an additional 6.65m, 2m, 1m, and… Read More
By Julie Ruvolo, Managing Director, Venture Capital, EMPEA [This article originally appeared in the August 27 | 28 edition of the VC Cache, a bi-weekly newsletter covering cross-border tech transactions and innovations with cross-border applications in a rapidly changing world.] The TikTok dilemma playing out on the global tech… Read More
DST Global has invested USD122m in the ongoing Series F for India-based edtech Byju’s for a 1.2% stake in the company. Read more… Read More
KKR led a USD150m Series E1 for China-based edtech Huohua Siwei, with follow-on from existing investors GGV Capital, GSR Ventures, Sequoia Capital China, IDG Capital, and Longfor Capital. Read more… Read More
Hanh & Company has agreed to acquire the in-flight catering and duty-free businesses of Korean Air for KRW990b (approximately USD835m). Read more… Read More
South Korea-based life insurer Hanwha Life Insurance has committed USD400m to KKR Asian Fund IV. The vehicle, which targets USD12.5b and has reportedly received USD12b in commitments to date, will make pan-Asia investments with a focus on control buyout transactions. Read more… Read More
An affiliate of Cerberus Capital Management has acquired a 20% stake in seven units of Mongolia-based MCS Group for an undisclosed amount. The acquired units operate across telecommunications and consumer goods. Read more… Read More
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