China-focused private equity and venture capital firm Tiantu Capital has reached a final close on its sixth RMB-denominated fund at RMB1 billion (approximately US$160 million). The new fund will target investments in the consumer sector. Read More
Motilal Oswal Private Equity, a subsidiary of Indian financial services company Motilal Oswal Financial Services, has held a fourth close on its India Business Excellence Fund-II (IBEF-II) with INR6.3 billion (approximately US$103 million) in capital commitments. The fund recently received a commitment of US$25 million from International Finance Corporation,… Read More
India-focused private equity fund manager Lighthouse Funds has held a first close on its second fund, India 2020 Fund II, with approximately US$60 million in commitments. Lighthouse reportedly received re-ups from all major institutional investors in its first fund, which raised US$100 million in 2008. Fund II has a… Read More
China-focused investment firm IDG Capital Partners has sold its stake in Tongxiang Wuzhen Tourism Development, a travel agency based in Zhejiang province, to the investee’s parent company China CYTS Tours Holding for US$67.5 million. Following the transaction, CYTS Tours, which acquired stakes controlled by IDG vehicles Hao Tian Capital… Read More
Asia-focused buyout fund manager Affinity Equity Partners has reached a second close on Affinity Asia Pacific Fund IV with US$2.5 billion in commitments. Investors in the fund, which reportedly has a hard cap of US$3.5 billion, include Washington State Investment Board, Montana State Investment Board, Maine Public Employees’ Retirement… Read More
CLSA Capital Partners, the alternative asset management arm of Hong Kong-based brokerage CLSA, has invested INR550 million (approximately US$9.2 million) in India-based Luminous Water Technologies (LWT). LWT designs, manufactures, distributes and services water purifier and water filter systems for residential and commercial use. CLSA Capital Partners structured the transaction… Read More
Khalid Quadir is Chief Executive Officer and Founding Partner of Brummer & Partners (Bangladesh), which manages the Bangladesh-focused Frontier Fund. Khalid makes the case for investing in Bangladesh via private equity and highlights some of the unique challenges to being a first mover in this market. Brummer & Partners AB… Read More
Asia-focused private equity firm SAIF Partners has invested in Womai.com, a China-based food and grocery e-commerce platform owned by Chinese food conglomerate COFCO. The investment was reported to be greater than US$10 million. Womai.com, which sells packaged food products such as snacks, infant foods and beverages, intends to use… Read More
Asia-focused buyout fund manager Affinity Equity Partners has acquired a 52.6 percent stake in South Korea-based Leon Entertainment, a record label and digital music platform, for KRW265.9 billion (approximately US$237.7 million). Affinity bought the stake from SK Planet, a subsidiary of mobile service provider SK Telecom. As a result,… Read More
India-focused investment manager Everstone Capital has agreed to acquire a 15 percent stake in Hinduja Leyland Finance (HLF), a commercial vehicle financing arm of the India-based business conglomerate Hinduja Group, for INR2 billion (approximately US$33.6 million). HLF, a non-banking financial company jointly owned by commercial vehicle manufacturer Ashok Leyland… Read More
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