Lone Star Funds has agreed to take over the financially beleaguered New City Residence Investment Corp ('NCRI'), a Japan-based real estate investment trust. The deal could amount to a capital deployment of ¥6 billion (US$58.7 million). NCRI collapsed under a debt pile of ¥112.4 billion last year. (Japan)

The International Finance Corp. ('IFC') is proposing to invest in Zephyr Peacock India Fund II, L.P., which is seeking to raise US$75 million. The fund focuses on high-growth small and medium enterprises. (India)

The Beijing Gehua CATV Network Co., Ltd. announced its intention to commit up to 100 million yuan (US$14.6 million) to Mianyang Technology City Industrial Investment Fund. The 12-year fund has a target size of 6 billion yuan, and is managed by CITICS Private Equity Funds Management Co., Ltd.. (People’s Republic of China)

The Shandong Academy of Sciences ('SDAS') has teamed up with Shandong Hi-Tech Investment Corp. and the UK-based Rockley Group to launch the Rockley Shandong Fund, which seeks opportunities in the technology sector in Shandong province and other locations in China. (People’s Republic of China)

The State Bank of India ('SBI') has joined with Macquarie Group Ltd. ('Macquarie') and the International Finance Corp. to launch the Macquarie-SBI Infrastructure Fund ('MSIF'), which has secured over US$1 billion at this juncture. The 10-year fund has a target fund size of between US$2 billion to US$3 billion. (India)

Religare Venture Capital Limited ('Religare VC') , the private equity arm of Religare Enterprises Limited, will form a 50:50 joint venture fund management company with Milestone Capital Advisors Private Limited ('Milestone') to co-manage a 6 billion rupees (US$137.3 million) healthcare and education fund. (India)

BanyanTree Finance Pvt. Ltd. ('BanyanTree'), a mezzanine funds provider based in India, invested an undisclosed amount in Trimax IT Infrastructure & Services Limited ('Trimax'). Trimax is a provider of information technology system integration and network infrastructure management services in India. (India)

DAX Partners LP, an affiliate of New York-based Trinity Management LLC ('Trinity'), has purchased Selectica India Pvt. Ltd., the India arm of Selectica, Inc., for US$4 million. Selectica, Inc., listed on NASDAQ, provides enterprise-class solution software for contract management. (India)

Standard Chartered Private Equity has taken a stake in Man Infraconstruction Limited ('Man Infra') for an undisclosed investment amount. Man Infra provides construction services for port infrastructure, residential, industrial and other commercial projects.
      Man Infra had also reportedly raised funds from Sabre-Abraaj Fund which is managed by Sabre-Abraaj Capital. (India)

Aureos Capital, through its Aureos Malaysia Fund, is to invest up to US$4 million in EA Global Holdings Ltd ('EA'), a Malaysian information technology outsourcing company. The target company, which will use the capital for expansion, provides information technology solutions to the utilities and energy sectors in the USA. (Malaysia)

The Singapore-listed Oceanus Group Ltd ('Oceanus') has secured a commitment from Hupomone Capital Partners Singapore Pte. Ltd. ('Hupomone') to invest between US$12 million and US$15 million in the company. Earlier, AIF Capital agreed to commit US$25 million to Oceanus, an abalone producing company. (People’s Republic of China)

Mizuho Venture Capital ('Mizuho VC'), a subsidiary of Japan-based Mizuho Bank, agreed to invest in Glam Media, Inc., an online media content network platform headquartered in the USA. Mizuho VC has also taken a stake in the Japan subsidiary of Glam Media , Glam Media Japan KK.
       Glam Media has raised approximately US$10 million in this round. (Offshore)

Mr. Eric Mason is to head the new Asian investment office of the Church Pension Fund. He will be based in Hong Kong. (Hong Kong)