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
China-focused venture capital firm Sinovation Ventures has reached a final close for its fourth U.S. dollar-denominated fund with US$500 million in capital commitments. Reportedly launched in February 2018, the fund has received commitments of US$50 million from Spain-based banking group BBVA and US$15 million from International Finance Corporation, as well… Read More
FPT Retail, the digital retail arm of Vietnam-based information technology company FPT, has officially listed 40 million shares in the company on the Hochiminh Stock Exchange (HOSE) at VND125,000 (approximately US$5.47) per share. The company is backed by Vietnam-focused investment firms Dragon Capital Group and VinaCapital. Dragon Capital and VinaCapital… Read More
Shareholders of India-based mobile telecommunications infrastructure operator Indus Towers have agreed to merge their respective holdings in the company into Bharti Infratel, another India-based telecommunications company. Indus Towers is owned by Bharti Infratel, U.K.-based mobile network company Vodafone, India-based telecommunications company Idea Cellular and private equity firm Providence Equity Partners. Read More
China-focused early-stage venture capital firm Sky9 Capital has reached a final close for Sky9 Capital Fund III with US$200 million in capital commitments. Limited partners in the fund include institutional investors, family foundations and high-net worth individuals. The fund will invest mainly in China-based internet and technology companies. Read More
China-based truck-hailing company Manbang Group has raised US$1.9 billion in a funding round led by the SoftBank Vision Fund and China Reform Fund, an investment firm backed by China Reform Holdings and other Chinese state-owned institutions. Other participants in the round include investment firms Farallon Capital, Baillie Gifford, Sequoia Capital,… Read More
Vietnam-based private sector lender Techcombank, which is backed by global private equity fund manager Warburg Pincus, will reportedly raise US$922 million in its initial public offering on the Ho Chi Minh City Stock Exchange. The bank has agreed to sell 164 million shares, representing 14.1 percent of its total equity… Read More
India-focused private equity fund manager Gaja Capital has partially exited India-based staffing services company TeamLease for INR1.65 billion (approximately US$25 million). Gaja sold 746,810 shares, representing a 4.37 percent stake, at INR2,210 (approximately US$33.58) per share on the Bombay Stock Exchange and the National Stock Exchange of India. Gaja invested… Read More
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