Shinsei Bank Ltd. and Aozora Bank Ltd. have agreed to merge in October 2010, becoming Japan's sixth-largest banking group. Shinsei Bank will be the surviving unit.
       Currently, Cerberus Capital Management L.P. holds more than 50% in Aozora Bank, while J.C Flowers & Co., along with other investors, holds 32.5% in Shinsei Bank. (Japan)

Intermediate Capital Group PLC is looking to raise approximately £351 million (US$600 million) through a rights issue on the London Stock Exchange, subject to stockholders’ approval. The Asia Pacific arm of the mezzanine financer raised the largest fund for the region in 2008. (Offshore)

The Malaysian government's Khazanah Nasional Berhad has made a US$25 million investment in the US-based Small Bone Innovations, Inc. ('SBi'), a specialised orthopedics company. SBi will be setting up its Asia Pacific base in Malaysia. (Malaysia)

The International Finance Corp. has agreed to provide an initial US$50 million convertible loan to Suntech Power Holdings Co., Ltd. ('Suntech'). The IFC has approved a convertible loan of up to US$100 million to support Suntech. (People's Republic of China)

Direct Capital Management Ltd. has announced the first closing of its latest fund, Direct Capital IV (Direct IV), which received capital commitments of NZ$201.5 million (US$129.7 million). Direct IV will invest in large, private companies. (New Zealand)

The Carlyle Group has raised US$1.04 billion for the final closing of its Carlyle Asia Growth Partners IV, which will invest in high growth private companies in China, India, Korea and other Asian countries. (Pan Asia)

Xi'an Yanliang National Aviation Hi-Tech Industrial Base, a government backed organisation, announced the launch of the 30 billion yuan (US$4.4 billion) Xi'an National Aviation Industrial Fund. (People's Republic of China)

India Value Fund will invest 1 billion rupees (US$21 million) in V-Link Travel Solutions ('V-Link') to fund its expansion of branded cab services, according to domestic reports. V-Link started with a fledgling fleet management operation in Mumbai in 2001. (India)

The Carlyle Group is reportedly in the final stages of negotiations with Reliance Big TV Ltd ('Big TV') and is expected to make a commitment of between US$50 to US$100 million. Big TV also is believed to be holding talks with The Blackstone Group, Providence Equity Partners and Kohlberg Kravis Roberts & Co..
       Big TV provides direct-to-home TV satellite services in India. (India)

Green Infra Ltd. is said to be in talks with British Petroleum to acquire their wind assets in India for 4.6 billion rupees (US$94.3 million).
       Green Infra is a joint venture between IDFC Private Equity and Emergent Ventures India that invests in clean technologies. (India)

Shenzhen Fortune Venture Capital has made two recent investements,deploying 26 million yuan (US$3.8 million) to Xi'an Dagang Road Machinery Co., Ltd. and no less than 50 million yuan to JYD Commodities Hub Co., Ltd. ('JYD Commo Hub' ).        Dagang Road is a manufacturer of road construction and maintenance machinery. JYD Commo Hub operates an online commodity trading platform. (People's Republic of China)

IDGVC Partners has invested 44.12 million yuan (US$6.46 million) for a stake in China CYTS Tours Holding Co., Ltd. ('CYTS Tours') which operates inbound, domestic and outbound travel. (People's Republic of China)

Standard Chartered Private Equity Ltd announced a US$40 million commitment to Environmental Facilities Management Corp. ('EFM'), a wholly-owned subsidiary of Kolon Group. EFM is involved in the management, development and other services in the water sector. (South Korea)

Omaha Capital China has sold its 4.67% stake in MicroPort Scientific Corporation to Shanghai Zhangjiang Hi-tech Park Development Co. for US$16.4 million. MicroPort is a Chinese developer, manufacturer, and marketer of innovative medical products. (People's Republic of China)

The Blackstone Group has named Mr. Philip Levinson as the Managing Director of its Limited Partner Relations and Fund Placement Group for Asia. He will be based in London. (London)