Haitong Securities

The David Bonderman-led private equity firm has sold UT Capital Group to Haitong Securities as it continues raising its $3.5bn Asia fund.

The global firm has committed $210m to Haitong Securities’ reported $1.7bn Hong Kong IPO.

The New York-based firm has set up in Shanghai and registered with China’s asset management association so it can raise money from mainland Chinese high net worth individuals and institutional investors.

Carlyle, FountainVest and Primavera have withdrawn from the take-private of US-listed Shanda Games

The global private equity firm will invest about $214m in Phoenix Satellite Television, owned by a subsidiary of Rupert Murdoch’s 21st Century Fox Entertainment.

The global private equity firm has invested about $213m in Phoenix Satellite Television, owned by a subsidiary of Rupert Murdoch’s 21st Century Fox Entertainment.

The World Economic Forum's choice of Hong Kong as the world’s most developed financial market comes amid declining IPO value on the HKex. Nonetheless, the distinction provides additional support for private equity activity in the region.

The China Securities Regulatory Commission has given brokerages permission to raise private equity funds using third party capital, paving the way for further development of the industry in China.

China’s securities regulator is reportedly drafting rules that would allow securities firms to launch private equity funds as early as this year.

The China-focused joint venture between the Belgian and Chinese firms has already garnered commitments of about RMB2bn for its second fund focused on growth capital and pre-IPO investments.