East Asia

Blackstone redirects focus to Asia, PIPEs

Blackstone reported a $113.2 million loss in the third quarter stemming largely from IPO-related costs. However, its president, Tony James, remained sanguine about the firm’s performance and its ability to shift focus amid credit market volatility affecting LBOs.

SVB Capital adds two partners(4)

SVB Capital has hired John Dominguez of Hill Capital Management and Vincent Williams of Northern Trust Global Investments to expand its private equity programme.

Silver Lake sells 10% stake to CalPERS

The US’ largest pension fund has purchased yet another stake in a big-name buyout firm, reportedly paying $275 million for an interest in Silver Lake.

Doughty Hanson triples money with Moeller sale to Eaton

The European mid-market firm found plenty of trade buyers to give the UBS-run auction competitive tension, despite a lack of financial sponsors ready to pay €1.55bn for the asset.

CVC cuts ties with Citi for third pan-Asian fund(4)

CVC Capital Partners is ending a joint venture with Citi for its third Asian fund. CVC Asia Pacific Fund III is expected to close well above a $4 billion target.

CVC rewards team as fundraising progresses

CVC Capital Partners has acknowledged staff contribution with a slew of promotions, including lead roles for the executives that helped secure the independence of the firm’s Asian business.

Blackstone makes first investment in China(3)

The Blackstone Group has taken a minority stake in a subsidiary of the state-owned China National Chemical Corporation, as it continues to build relations with the Chinese government.

Blackstone makes first investment in China(2)

The Blackstone Group has taken a minority stake in a subsidiary of the state-owned China National Chemical Corporation, as it continues to build relations with the Chinese government.

SVB Capital adds two partners(3)

SVB Capital has hired John Dominguez of Hill Capital Management and Vincent Williams of Northern Trust Global Investments to expand its private equity programme.

KKR’s Chinese cement deal is third for $4bn Asia fund(2)

Kohlberg Kravis Roberts has invested $115 million in its first private equity transaction in China. It is the third for a $4 billion fund KKR has raised, its first Asia-dedicated investment vehicle.