July 16, 2012 / 12:53 AM / in 5 years

Asia Private Equity Weekly News, July 16

HONG KONG, July 16 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending July 13.

JULY 13

U.S. PRIVATE equity firm Bain Capital is in advanced talks with the Government of Singapore Investment Corp (GIC) to make a joint bid for a 40 percent stake in IT outsourcing company Genpact for $1.5 billion to $2 billion, three sources with direct knowledge of the matter said.

DEBT-LADEN Chinese shipping and oil storage firm Titan Petrochemicals Group Ltd, facing a lawsuit seeking its liquidation from Warburg Pincus, is in “active discussions” to sell a controlling stake.

JULY 12

GLOBAL PRIVATE equity fund Blackstone Group LP is backing Mark Wilson, the former chief of AIA Group Ltd , in the bidding for ING Groep NV’s Asia insurance unit, a source directly familiar with the matter said.

MOELIS & CO has launched its India operations with the hiring of Manisha Girotra, former chief executive of UBS AG in India, as its country head, the U.S. investment banking boutique said.

THE AUSTRALIAN head of natural resources and infrastructure at JPMorgan, Alan Young, is leaving the investment bank to join private equity firm Prostar Capital, a person familiar with the move said.

JULY 11

CHINA WAS the main contributor to a 24 percent rise in new global investment in clean energy in the second quarter as large Chinese solar and wind projects raised millions of dollars of finance, said research firm Bloomberg New Energy Finance.

JULY 10

WARBURG PINCUS is investing $200 million to buy an undisclosed minority stake in privately-owned China Auto Rental Holdings Inc, after the car rentals company pulled its U.S. IPO in April due to market turmoil.

SHARES OF Samsonite International S.A., the world’s biggest luggage maker, fell more than 7 percent to the lowest level in six months on worries its two largest shareholders, Royal Bank of Scotland and private equity fund CVC Capital Partners, will trim their stakes.

MASO CAPITAL has hired former Mount Kellett Capital executive Allan Finnerty for a top role at the hedge fund being set up by former managing directors of Och-Ziff Capital Management Manoj Jain and Sohit Khurana.

HOLLAND-BASED private equity fund of funds AlpInvest Partners, owned by U.S. buyout fund Carlyle Group, said it is launching a dedicated private equity secondary investments team in Hong Kong to be led by Neal Costello, a principal who has relocated from its New York office.

CARLYLE GROUP said its preliminary “carry fund” valuations fell 2 percent in the second quarter, underscoring the weak performance of the global markets.

SILVER LAKE, the $14 billion private equity asset manager with a focus on technology investments, is seeking $7.5 billion from investors for its next flagship buyout fund, according to a U.S. regulatory filing.

BAIN CAPITAL LLC, the private equity firm co-founded by Republican presidential hopeful Mitt Romney, has completed fundraising for its second Asia fund, closing at $2.3 billion, one of its senior executives said.

JULY 9

INDONESIA‘S PT Lippo Karawaci may sell as much as 49 percent of its unit Siloam Hospitals in a deal that would value the firm at more than $1 billion, drawing a slew of private equity firms to the sale as they bet on growth in healthcare spending in Southeast Asia’s biggest economy, sources said.

ONTARIO TEACHERS’ Pension Fund and private equity fund Unitas Capital have teamed up for a potential joint bid for Singapore-based Infastech, one of the world’s biggest makers of industrial fasteners, in a deal worth over $750 million, said two sources with knowledge of the matter.

CHINESE COMPANIES are eyeing German machine tool group MAG, two sources close to the transaction said on Monday, in a sign appetite remains high among Chinese groups for the acquisition of German industrial know-how.

U.S. PRIVATE equity fund TPG Capital has acquired private Chinese packaging company HCP Holdings Inc for around $600 million, Thomson Reuters publication Basis Point reported, citing sources.

APOLLO GLOBAL Management LLC said it has appointed Martin Kelly, a top financial controller at Barclays Plc , the British bank tainted with an interest rate rigging scandal, as its next chief financial officer.

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