Global private equity fund manager Warburg Pincus and Vietnam-based real estate and infrastructure developer Becamex IDC have committed more than US$200 million to a newly formed joint venture, BW Industrial Development (BWID), to develop institutional-grade industrial and logistics properties across Vietnam. The joint venture plans to invest in logistics warehouses,… Read More
China-focused private equity firm Hopu Investment Management has reached a first close for its third fund with US$2 billion in capital commitments. Investors in the fund reportedly include sovereign wealth funds China Investment Corporation and Temasek Holdings and trading house Mitsui & Co. The fund is targeting US$2.5 billion in… Read More
India-focused private equity fund manager InvAscent has reached a second close for India Life Sciences Fund III with US$210 million in capital commitments, reportedly surpassing its US$200 million target. India Life Sciences Fund III will invest between US$10 million and US$40 million in India-based companies in the pharmaceutical, health care… Read More
Korea-focused private equity firm ACE Equity Partners has acquired a 100 percent stake in Korea-based Woojin Electric Machinery for approximately US$200 million. Woojin, which supplies power equipment and electrical engineering solutions to Korean semiconductor and display manufacturers, reportedly plans to hold an initial public offering in 2019. Read More
Global alternative investment firm KKR has reportedly reduced its stake in Hong Kong Stock Exchange-listed investment bank China International Capital Corporation (CICC) through a partial share disposal totaling HKD780 million (approximately US$100 million). Following completion of the exit, KKR will continue to hold a 2.2 percent stake in CICC. Read More
Southeast Asia-focused private equity fund managers Navis Capital Partners and Novo Tellus Capital Partners (NTCP) have agreed to exit their controlling stake in Singapore-based printed circuit board manufacturer MFS Technology to China-focused private equity firm Dehong Capital Partners. Navis and NTCP acquired MFS for approximately US$95 million in November 2014… Read More
Legend Star, the early-stage investment arm of China-based Legend Holdings, has closed its third venture capital fund with CNY800 million (approximately US$127 million) in capital commitments. This is the first time Legend Star, which previously operated as a captive unit, has raised capital from third-party investors. Investors in the fund… Read More
Singapore-based womenswear label Love, Bonito has raised a US$13 million Series B round led by Japan-based comparison shopping website Kakaku.com with participation from existing investor NSI Ventures, the early-stage venture arm of Southeast Asia-focused alternative investment fund manager Northstar Group. Love, Bonito plans to use the funds to bolster its… Read More
India-based online grocer BigBasket has raised US$300 million in a Series E round led by China-based e-commerce company Alibaba Group Holding, which contributed US$225 million to the deal. Global growth markets investor The Abraaj Group, International Finance Corporation (IFC) and growth investment firm Sands Capital Management also participated in the… Read More
Malaysia-focused fund manager COPE Private Equity, formerly known as CMS Opus Private Equity, has fully exited its stake in Bursa Malaysia-listed engineering services company Serba Dinamik Holdings. COPE originally invested MYR35 million (approximately US$11 million) in the company in 2013 through COPE-KPF Opportunities 1 and COPE Opportunities 2. Serba Dinamik,… Read More
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