East Asia

Asia Alternatives raises $515m for maiden fund of funds

Asia Alternatives, a new fund of fund manager that has its headquarters in Hong Kong, has raised $515 million, exceeding a $450 million hard cap. The fund may have just held its final close but is already invested in more than ten funds focused across 12 Asian countries.

Sun Capital buys Japanese snack maker(2)

Sun Capital’s recently established Japanese affiliate has completed its first deal with the acquisition of “Fruit Jelly” snack maker Tarami.

VC firms invest $12m in telecoms group(2)

XConnect Global Networks, a service provider to the telecommunications industry, has received $12 million of funding from a venture capital consortium led by Accel Partners and Venrock Associates.

CDC profits from emerging markets(2)

The UK government fund of funds manager in developing markets has posted strong results for 2006 while sounding a note of caution as a wall of money heads for new markets.

Origo recruits South African MD(2)

Beijing-based private equity group Origo Sino-India has hired John Blake as managing director of mergers and acquisitions.

Kleiner Perkins Caufield & Byers enters China(2)

Top US venture firm Kleiner Perkins Caufield & Byers has entered China with a $360 million fund and a seasoned team of local investment professionals.

Industri Kapital sells Elektrokoppar after nearly 10 years

Buyout firm Industri Kapital has exited from Elektrokoppar after nearly 10 years invested in the company and several difficult economic cycles in the copper industry.

Carlyle invests in Korean after-school private education(2)

The Carlyle Group will invest up to $20 million in Korea’s Topia Academy, an after-school private education business founded in 1995 by a former English lecturer.

CVC Asia opens office in Singapore(2)

CVC Asia Pacific has opened a Singapore office, its fifth in the Asia Pacific region, and recruited Sigit Prasetya from Henderson Equity Partners to run it. The firm wants to step up its activity in Southeast Asia.

Wellington Partners invests in media start up(2)

Adconion Media, a German online advertising network, has received a commitment from Wellington Partners, a pan-European venture capital firm, of an undisclosed amount.