Asia-Pacific

Asia's battle for dry powder

Asian private equity is going through another record year of fund formation. Sharon Lim explains why, and asks for how much longer the boom can continue.

KPS in $400m metals deal(2)

KPS Capital Partners will pay $400 million for the metals business of Olin Corporation. The deal is KPS’ first from its latest distressed fund, which closed on $1.2 billion in June.

Bear, CITIC to buy $1bn stake in each other(2)

Bear Stearns and Chinese investment firm CITIC will each acquire a 6 percent stake in one another, as well as pool resources and jointly develop private equity and venture capital products for the Asian market.

Morgan Stanley goes large

The private equity group of US investment bank Morgan Stanley has raised $1.5 billion for its third Asia-focused fund - three times the size of the predecessor vehicle.

The emerging trend is your friend(3)

As established private equity markets slow in the wake of the credit crunch, global firms are looking further afield and local emerging market managers know this is no flash in the pan, Nicholas Lockley writes.

Report: Goldman China head joins Fang fund

The $2 billion fund being raised by Goldman’s Chinese partner Fang Fenglei has reportedly recruited Goldman Sachs co-head of investment banking Richard Ong.

Olympus invests $28m in Chinese cement(3)

Olympus Capital Holdings Asia has invested $28 million in a joint venture established with China-listed cement producer Sichuan Golden Summit.

‘Mother of all tax hikes’ opposed by industry groups, Republicans(4)

The Private Equity Council, National Venture Capital Association, International Council of Shopping Centers and many Republican lawmakers have come out in opposition to legislation introduced yesterday that would significantly increase US taxes for alternative investment fund managers.

Report: LPs align to demand better deal terms

The 10th largest public US pension has said a group of large institutional investors, including a sovereign wealth fund, are discussing how best to group together to obtain more favourable deal terms. The LPs are also reportedly conferring on investments in private equity firm franchises.

CVC Asia Pacific invests $225m in China-listed bottle maker(3)

CVC Asia Pacific has spent $225 million to acquire shares in a bottle maker in the largest private equity investment in tradable A-shares of a China-listed company.