East Asia

Baird sells SHE to RACO(2)

UK-based Baird Capital Partners has doubled its money by selling cooling manufacturer SHE to RACO, an Italian automotive manufacturing group.

Venture capital investment in China grows(2)

In 2006, venture capital investments in mainland China reached its highest point in three years and the scope of non-technology investments have also broadened, according to a study by Dow Jones VentureOne and Ernst & Young.

Vietcombank increases fund size almost tenfold(2)

Vietcombank Fund Management, a joint-venture between Bank for Foreign Trade of Vietnam and Singapore-based Viet Capital Holding, has raised $120 million for a second fund, one year after it closed its maiden fund on $12.5 million.

Nokia expands fund of funds(2)

The company’s private equity arm will aim $100m at to back venture funds targeting emerging markets and sectors beyond Nokia’s core business.

TPG middle-market fund adds Oregon as LP(2)

Texas Pacific’s new STAR affiliate has secured a $75m commitment from long-time backer Oregon.

DE Shaw names CEO of Chinese PE unit(2)

The hedge fund giant has solidified its private equity office in China with the appointment of a former JPMorgan pro Liang Meng.

MPM closes $550m fourth fund(2)

The US-German investment house’s latest life sciences-focused fund will invest principally in US biotechnology companies.

Carlyle loses exclusivity on ASE(2)

Carlyle’s attempts to increase its footprint in Asia have suffered a further setback, after an independent committee voted to cancel its exclusive bidding arrangement with Taiwanese firm Adavanced Semiconductor Engineering.

AIG Asian Opportunity Fund II closes short of target(2)

AIG Global Investment Group has raised $410 million for its Asia Opportunity Fund II, after investing in China, India and Korea during 2006, falling short of its $500m target.

Baird Private Equity partners Tholons in Bangalore(2)

Baird Private Equity, a US mid-market private equity firm, has partnered Tholons, an advisory firm with operations in Bangalore, to provide local support and expertise to its portfolio companies based in the US and Europe.