HONG KONG, October 29 News and developments in
Asia private equity from Reuters News for the week ending
BLACKSTONE GROUP L.P. has agreed to buy the Huamin
Imperial Building in Shanghai, a source with knowledge of the
matter said, an office tower media reports say is valued at
around RMB7 billion ($1.12 billion).
MACQUARIE GROUP reported a smaller-than-expected
18.4 percent rise in first-half net profit as weak markets hurt,
but Australia's top investment bank reiterated its full-year
profits would top the year-ago figure.
KKR & CO LP said it swung to profitability in the
third quarter on its strongest delivery of cash from performance
fees since the investment company went public in 2010, a result
that far exceeded analyst expectations.
CARLYLE GROUP is making its first investment in
Southeast Asia, buying a stake of around 25 percent in a
publicly traded Indonesian telecom towers operator for about
$100 million, sources with knowledge of the deal said.
SOUTH KOREA'S Woongjin Holdings is willing to
complete a $1.1 billion deal signed in August to sell a near 30
percent controlling stake in water purifier maker Woongjin Coway
to domestic private equity fund MBK Partners, a
U.S. PRIVATE equity firm KKR is seeing a "real opportunity"
to invest in Spain's real estate and financial services in the
wake of the country's debt crisis, said its co-founder Henry
THE PUBLIC appearance of Henry Kravis at KKR's new Singapore
office underscores the private equity industry's growing
interest in Southeast Asia, at a time when regional funds are
growing and deal volumes are falling.
CHINA HAS allowed overseas investors to buy stakes in
unlisted companies in the country using offshore yuan, part of
Beijing's efforts to promote international use of the Chinese
currency, the Shanghai Securities News reported, citing
ONE OF Silicon Valley's most established venture funds is
seeking to ferret out startup talent in India at the very
earliest stages by investing in AngelPrime, a Bangalore-based
incubator program to foster young companies.
EXCLUSIVE-BLACKSTONE is preparing to launch a
multibillion-dollar fund that will buy stakes in hedge fund
managers in the secondary market, as traditional buyers such as
banks pull back amid disappointing fund performance and
PRIVATE EQUITY firm CVC Partners has hired CIMB,
Morgan Stanley and UBS to sell a stake in
Indonesian group PT Matahari Department Store, sources
A PRIVATE equity firm founded by Chinese billionaire Yu Yong
has gone hostile with its A$824 million ($850 million) takeover
bid for Australia's Discovery Metals Ltd after the
copper miner's board rebuffed a similar offer earlier this
INDIAN INDUSTRIAL group Rain Commodities Ltd
agreed to buy speciality chemicals group Ruetgers in a 702
million euro ($918 million) deal that would set a new record for
an Indian takeover of a German-owned business.
U.S. PRIVATE equity investor FLAG Capital Management said it
has agreed to buy Squadron Capital Advisors, an Asian private
investment firm with $1.5 billion in assets controlled by the
founder of Duty Free Shopping outlets Robert W. Miller.