China International Capital Corporation related stories
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TPG agrees to acquire stake in Phoenix TV from 21st Century FoxTPG said Friday that it has inked an agreement to buy 21st Century Fox's stake in Phoenix Satellite Television Holdings Limited. No financial terms were disclosed. Based in Hong Kong, Phoenix TV is a Mandarin Chinese and Cantonese broadcaster that serves mainland China, Hong Kong and other markets with substantial Chinese viewers.
- CDH holds first close on China fund
The Hong Kong-based private equity fund has raised over $1bn in commitments and has pulled in a number of key LPs.
- China mall developer plans $1bln Hong Kong IPO - Reuters
SZITIC Commercial Property Co, which sold a stake in two of its malls to US private equity firm Carlyle Group in May, is planning an up to $1 billion Hong Kong IPO as soon as the fourth quarter of 2013, the Wall Street Journal reported on Tuesday, writes Reuters. The Shenzhen-based shopping mall developer hired JPMorgan and China International Capital Corp to handle the initial public offering, writes Reuters.
- Reuters - KKR Tops Rivals with Largest Asia Fund
KKR's $6 billion Asia fund will be deployed at a time when an economic slowdown and emerging market sell-off has knocked the overall value of Asia Pacific corporations to historic lows, writes Reuters. While the market volatility should offer KKR opportunities to buy low, the record of the private equity industry in Asia shows that investing in the region is not as easy as it seems, writes Reuters.
- Ping An hits regulatory wall on RMB funds
A recent CIRC regulation has kept Ping An Insurance from investing in two RMB funds.
- TPG buys into Danish bank
US buyout group TPG Capital has backed Nordic lender Saxo Bank, investing $560m in equity for a 30% stake, and providing an exit for private equity peer General Atlantic.
- KKR touts ‘spectacular’ growth
Kohlberg Kravis Roberts says its Asian portfolio companies have risen 46% in value year-on-year, while KKR European investments are up 20% over 2009.
- TPG buys stake in VTB for $100m
The firm is participating in a $3.3bn public offering for a 10% stake in the Russian state-owned bank.
- Report: Chinese brokerages can enter PE
China’s securities regulator is reportedly drafting rules that would allow securities firms to launch private equity funds as early as this year.