Global alternative asset management firm The Carlyle Group has completed a partial exit of Bombay Stock Exchange-listed life insurance company SBI Life Insurance, selling 30 million shares representing a 3 percent stake for INR938.83 (approximately USD13) per share and retuning INR28.2 billion (USD392 million). Carlyle acquired a 9.2 percent stake… Read More
Global private equity fund manager Advent International has agreed to acquire a majority stake in India-based biopharmaceutical company Bharat Serums and Vaccines. Advent will acquire Bharat Serums from alternative investment firms OrbiMed Advisors and Kotak Private Equity, as well as the Daftary Family, which founded Bharat Serums in 1971. Kotak… Read More
Asia-focused alternative asset manager Baring Private Equity Asia (BPEA) has reportedly acquired a majority stake in USA Society English Centres (VUS), a Vietnam-based chain of English language training centers. The company operates 20 centers across Vietnam, enrolling approximately 200,000 students annually. Financial details of the transaction were not disclosed. Read More
Asia-focused direct secondaries fund manager NewQuest Capital has reached a final close for NewQuest Asia Fund IV with USD1 billion in commitments. Investors in the fund include endowments, pension funds, sovereign wealth funds, insurance companies, financial institutions, and family offices across Asia, North America, Europe, and the Middle East. In… Read More
China-based electric vehicle manufacturer Xpeng Motors has secured USD400 million in a Series C financing round led by China-based electronics producer Xiaomi. Other investors in the funding round reportedly include the company’s existing shareholders, such as venture capital fund managers Morningside Ventures and Matrix Partners. The company, which recently released… Read More
China-focused private equity firm Primavera Capital Management has reached a final close for Primavera Capital Fund III with USD3.4 billion in capital commitments. Investors in the fund include Taiwan Life Insurance and US-based pension funds Pennsylvania State Employees’ Retirement System, New York State Teachers’ Retirement System, and Texas Permanent School… Read More
India-focused venture capital firm Windrose Capital has reached a first close for The Next Billion Fund with USD30 million in capital commitments. Investors include individual entrepreneurs operating in a variety of industries. The fund has already reportedly completed three investments and will target seed and early-stage funding rounds for companies… Read More
China-based baby formula producer China Feihe has raised HKD6.7 billion (approximately USD856 million) in its initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold 893 million shares at a price of HKD7.50 (USD0.96) per share. Investors in Feihe include Asia-focused private equity investor Morgan Stanley Private… Read More
China-focused venture capital fund manager Eastern Bell Venture Capital has reached a final close for its debut USD-denominated fund with USD365 million in commitments. Investors in the fund include international sovereign wealth funds, insurance companies, funds of funds, family offices, and corporate investors. The fund will focus on logistics and… Read More
India-focused angel investment group Indian Angel Network (IAN) has reached a final close for its first venture capital fund with INR3.75 billion (approximately USD52 million) in commitments. Investors in the fund include Small Industries Development Bank of India, IIFL Holdings, Yes Bank, Max India, Gray Matters Capital, and Hyundai. Other… Read More
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