The possible extension of the AIFMD marketing passport to fund managers based outside the EU has been monitored with considerable interest by market participants over the last year. Currently, the AIFMD marketing passport— which allows a manager to market funds to professional investors freely across the EU, without the… Read More
In this Bulletin we address a number of commercial, governance, legal and regulatory issues, which we believe are both timely and of broad interest to the emerging market private equity, venture capital, and infrastructure investment community. We are certain that some of the topics covered will be discussed—vociferously perhaps—at… Read More
China-based cosmetics and skin care products supplier Guangdong Marubi Biotechnology has raised CNY841 million (approximately USD122 million) in its initial public offering (IPO) on the Shanghai Stock Exchange. The company sold 41 million shares at a price of CNY20.5 per share (USD2.98) in the offering. Marubi is backed by global… Read More
India-based scooter rental company Bounce has secured USD72 million in a Series C funding round led by global venture investor B Capital Group and alternative asset manager Falcon Edge Capital. Other participants in the round include Sequoia Capital, Accel Partners, Chiratae Ventures, Qualcomm Ventures, Maverick Ventures, and Omidyar Network. Bounce,… Read More
Global private equity fund manager Warburg Pincus has sold a 3.2 percent stake in India-listed insurance company ICICI Lombard General Insurance. Warburg sold approximately 14 million shares for INR1,100 (USD16) per share, returning INR15.8 billion (approximately USD 227 million). Warburg, which originally invested in ICICI Lombard in 2017, still holds… Read More
Hansoh Pharmaceuticals, a China-based drug developer, has completed its initial public offering on the Hong Kong Stock Exchange, selling 551 million shares at HKD14.26 per share, generating gross proceeds of HKD7.9 billion (approximately USD1 billion). Existing private investors Boyu Capital and Hillhouse Capital retained their stakes of 3.29 percent and… Read More
Southeast Asia-focused private equity firm Asia Partners Fund Management has reached a first close for its debut fund with approximately USD70 million in commitments. The fund will focus on providing growth capital to Southeast Asian technology companies in sectors such as travel, e-commerce logistics, and enterprise software. The expected ticket… Read More
South Korea-based online travel platform Yanolja has raised USD180 million in a Series D funding round from Singaporean sovereign wealth fund GIC and online travel group Booking Holdings. Yanolja and Booking Holdings have also entered into a strategic partnership that will allow their respective customers to access both services. Previous… Read More
Aqua Ventures, a China-focused venture capital fund manager, has announced the final close of its second RMB-denominated fund. Investors include internet companies, funds of funds, government guidance funds, and high-net-worth individuals. The firm primarily makes early-stage investments in companies integrating the internet with traditional industries in sectors such as health… Read More
Global alternative investment manager KKR has agreed to sell KCF Technologies (KCFT), a South Korea-based producer of copper foils for lithium ion batteries, to SKC, an affiliate of Korean conglomerate SK Group, for KRW1.2 trillion (approximately USD1 billion). KCFT was carved out of LS Group alongside LS Automotive, a Korea-based… Read More
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