China-focused venture capital fund manager Vision Plus Capital Partners has raised US$500 million in capital commitments for its second U.S. dollar- and renminbi-denominated funds. Commitments are split equally between the two funds. Investors in the funds include China-based internet and industrial companies, sovereign wealth funds, funds of funds, a U.S.-based… Read More
Asia-focused alternative investment firm PAG has reached a final close for its third loan fund with US$950 million in total capital commitments. Investors in the fund include institutions from North America, Australia and Asia. The fund plans to invest in corporate and real estate opportunities across the Asia Pacific region… Read More
Edelweiss Alternative Asset Advisors, an arm of India-based financial group Edelweiss, has reached a first close for Edelweiss Infrastructure Yield Plus Fund with INR20 billion (approximately US$297 million) in capital commitments. Investors in the fund include India-based institutions, family offices and high-net worth individuals, as well as several international investors. Read More
Global investment manager KKR has fully exited India-listed non-banking financial company Magma Fincorp, selling 13 million shares for INR2.15 billion (approximately US$32 million) on the National Stock Exchange of India. KKR originally acquired a 15 percent stake in Magma Fincorp for INR2.4 billion (approximately US$52 million) in May 2011. Separately,… Read More
Global private equity fund manager EQT has reached a final close for EQT Mid Market Asia III with US$800 million in capital commitments. Investors in the fund include pension funds, insurance companies and funds of funds. The fund seeks to make control or co-control investments in health care, services, TMT… Read More
Walmart has agreed to acquire a 77 percent stake in India-based e-commerce company Flipkart for US$16 billion, valuing the company at approximately US$21 billion. The deal includes US$2 billion in new equity funding, as well as a US$14 billion secondary acquisition of shares from investors including the SoftBank Vision Fund… Read More
Global alternative asset manager The Carlyle Group has sold a 4.8 percent stake in India-listed PNB Housing Finance, representing 80 million shares, for INR10 billion (approximately US$152 million) via block trades on the Bombay Stock Exchange and National Stock Exchange of India. Concurrently, PNB’s existing investor General Atlantic acquired shares… Read More
Key findings from the 2018 Global Limited Partners Survey include: A higher proportion of respondents* plans to increase the dollar value of their commitments to EM PE than in any edition of the survey since 2014, suggesting cautious optimism may be in order for EM-focused fund managers. Read More
By Hayley Brady, Senior Associate and Clare Hubert, Associate at Herbert Smith Freehills Introduction Booking your latest holiday? Ordering a pizza? Selecting your new sofa? The chances are you will be using an online platform. The growth of online platforms, as part of the on-demand economy, is on a constant… Read More
A group of investors led by global alternative asset managers The Carlyle Group and TPG has agreed to invest US$1.9 billion in the financial services group of China-based Nasdaq-listed technology conglomerate Baidu. The group has subsequently been renamed as Du Xiaoman Financial. Other participants in the funding round include China-based… Read More
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