Axis Private Equity Ltd., an infrastructure fund management firm, is considering to spin out from its parent company, Axis Bank which will continue to act as the private equity firm’s largest limited partner. (India)

The founder and largest shareholder of GOME Electrical Appliances Holdings Ltd. ('GOME'), Mr Huang Guangyu has been indicted on charges of bribery, illegal business dealings and insider trading. Last year, Bain Capital LLC invested in GOME. But Mr Huang’s legal entanglement is unlikely to affect GOME which had instituted a new board and management more than 15 months ago. (People's Republic of China)

Willcom Inc. ('Willcom'), in which The Carlyle Group has a controlling interest, has filed for bankruptcy protection. Crippled by a debt pile that amounts to ¥206 billion (US$2.3 billion), Willcom is currently in discussion with Advantage Partners LLP and Softbank Corp. for possible capital injections. (Japan)

International Finance Corporation could invest US$20 million in Universtar Science & Technology (Shenzhen) Co., Ltd., a provider of environmental monitoring equipment and services in China. (People's Republic of China)

China Investment Corporation will reportedly invest US$500 million each with Goldman Sachs, Lexington Partners and Pantheon Ventures, in order to access the private equity secondary market, according to Financial Times. It is believed to be the single largest undertaking by an institution for the secondary market. (People's Republic of China)

BOCOM International Holdings Company Ltd., the Hong Kong-based investment banking and securities arm of Bank of Communications Co., Ltd., has launched its first private equity fund that seeks to raise between US$250 million to US$500 million. It will invest in green energy and consumer goods. (People's Republic of China)

Pacific Equity Partners has secured a 79.6% interest in Energy Developments Ltd. (‘Energy Developments’), but fell short of the 90% that it had originally hoped to secure. Energy Developments is an international provider of renewable energy and low greenhouse gas emission energy. (Australia)

Aditya Birla Capital Advisors Private Ltd. has made its first investment, committing 500 million rupees (US$10.8 million) to Anupam Industries Ltd. which is one of the largest manufacturers of industrial cranes in India. (India)

Actis announces its US$50 million commitment to Integreon, Inc., a knowledge process outsourcing firm, in which Ayala Corp. is a controlling shareholder. (India)

The Netherlands-based H2 Equity Partners B.V. has taken control of Kirin Agribio Co. Ltd. and Kirin Agribio EC B.V. for an undisclosed amount. Both companies were wholly-owned subsidiaries of Kirin Holdings Co. Ltd., one of the largest beverage companies in Japan. (Japan)

Hony Capital has participated in Changsha Zoomlion Heavy Industry Science & Technology Development Co., Ltd.’s recent share placement through a Rmb984.2 million (US$141 million) commitment. Hony Capital is an existing shareholder of the construction machinery company. (People's Republic of China)

Ruinian International Ltd., which counts the GIC Special Investments Pte. Ltd. as an investor, was listed on The Stock Exchange of Hong Kong. On its first day of trading, the healthcare products maker's share price closed at HK$2.8 (US$0.4), a 7.7% decline to its initial public offering price. (People's Republic of China)