East Asia

CapVis buys textile company

The Swiss mid-market firm has acquired an 85 percent stake in the 146 year old Benninger Textile Systems.

China’s Lenovo in PE pact

Texas Pacific Group, General Atlantic and Newbridge Capital are providing Chinese computer maker Lenovo with $350m for the acquisition of IBM’s personal computer business, in exchange for up to a 12.4 percent stake in Lenovo itself.

Electra acquires French fuel business

AXA Private Equity generated an IRR of around 45 percent in the sale of Tokheim to Electra Partners Europe.

H&Q Asia Pacific adds $500m in two funds

As the firm seeks to build its reputation in the Asian buyout arena, private equity firm H&Q Asia Pacific has raised two new vehicles with a combined $500m in capital to target larger, later stage investments in the North Asian market.

Lenovo buys IBM unit, agrees PE deal

The Chinese company has completed the $1.25bn purchase of IBM’s personal computing unit and agreed to a $350m investment from three private equity firms.

Private equity as public relations

Taking a cue from the largest state pension funds, Wal-Mart has recently announced a $25 million private equity fund targeting women- and minority-owned businesses. Can private equity be good for a company’s image?

3i invests $45m in Chinese PE firm

The UK-listed international venture capital and buyout group has committed $45m as a limited partner in a new fund being raised by Chinese growth capital investor CDH China.

Distressed passage to India

Investment firms are turning an eye towards the Asian subcontinent, including its burgeoning non-performing loans, distressed assets and turnaround opportunities. By Aaron Lovell.

KPS, Pegasus see profit in Japan sale

KPS Special Situations and Pegasus Partners have already recouped 1.5x their investment in Genesis Worldwide thanks to a unit sale to Mitsubishi-Hitachi Metals Machinery.

Banks reap 14x return from Chinese deal

Goldman Sachs and Morgan Stanley have posted a 14-fold return on their investment in Ping An, the Chinese life assurance firm, following the sale of their stakes to HSBC.