Global private equity firm Warburg Pincus has acquired a minority stake in AVTEC, an Indian manufacturer of engineering products and automotive components. As part of the investment, Warburg purchased the stake previously held by emerging markets investment firm Actis, which invested US$17.8 million in AVTEC in 2005. Financial details… Read More
The geographical breadth of coverage in this latest issue of the Legal and Regulatory Bulletin illustrates the ripple effects – sometimes substantial – which regulation can have on our asset class regardless of its origins. In particular, this issue examines the consideration set for investors new to emerging market private… Read More
There is no fundamental legal distinction between a private equity fund established to invest into emerging as opposed to developed markets. However, in practice, the legal terms customarily incorporated into the constitutive legal documents of emerging markets funds differ considerably from those included in developed market fund papers. Read More
Chinese institutional investors have been playing an increasingly important role in the global investment management industry. However, to date, only a handful of Chinese institutions are able to make allocations to overseas investment funds. Additionally, there is a sizeable amount of insurance funds in China. Recent CIRC regulations governing… Read More
On the 21 January 2013, the Securities and Exchange Board of India (“SEBI”) released the final SEBI (Investment Advisers) Regulations, 2013 (“IA Regulations”). Investment advisers were previously unregulated in India. With the enactment of the IA Regulations, SEBI has finally sought to plug this gap. Read More
The private equity arm of investment bank Goldman Sachs and Government of Singapore Investment Corporation (GIC) have invested US$100 million in iKang Guobin, a Chinese healthcare company. iKang, which operates healthcare treatment centers in China, plans to use the capital to accelerate the company’s expansion into third- and fourth-tier… Read More
CDIB Capital, the overseas private investment arm of Taiwan’s China Development Financial merchant bank, has invested US$19 million in Chinese furniture retailer Meilele by subscribing to a convertible bond issue. Meilele operates a consumer-to-consumer online retail service as well as 50 stores within China. Separately, CDIB Capital has invested… Read More
Chinese private equity firm Hony Capital has purchased a 10 percent stake in Chinese property developer Chengtou Holding. Hony purchased 299 million shares in Chengtou, which is listed on the Shanghai Stock Exchange, for RMB1.8 billion (approximately US$290 million). In addition to property development, Chengtou also has an environmental… Read More
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has agreed to acquire a controlling stake in Indian tire manufacturer Alliance Tire Group (ATG) from global private equity firm Warburg Pincus. ATG specializes in the manufacture and development of off-road tires for the construction, forestry and agricultural industries, with… Read More
India-focused private equity firm Baring Private Equity Partners India (BPEP India) has invested US$18 million in Indian consumer products manufacturer Dabur India, its second investment in the company. In late 2012, BPEP India invested around US$45 million in the company, which is listed on both the Bombay Stock Exchange… Read More
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