22 March 2010


News Flash

INSTITUTIONAL INVESTORS

IFC Eyes Opportunities in South Asia

International Finance Corporation ('IFC') is planning to make a series of investments in companies in the South Asia region.
       In India, it could invest up to US$5 million in Suvidhaa Infoserve Pvt. Ltd. which provides services such as ticketing and bill payments.
       In Thailand, IFC is proposing to make an equity investment of up to US$1.6 million in a solar photovoltaic power plant; while in Vietnam, the institution may take up a stake in Thien Viet Securities Joint Stock Company Ltd., a securities brokerage firm. (South Korea)



FUNDS

Elevar Raises 2nd Microfinance Fund

Elevar Equity LLC announced that it has closed its US$70 million Elevar Equity II, a microfinance fund that has enlisted Omidyar Network and The Legatum Group as the main investors. (Global)




Jilin Province Launches Four VC Funds

Jilin Venture Capital Fund of Funds Management Co., Ltd. announced its plan to initiate four venture capital funds in Jilin province with financial institutions including Shenzhen Capital Group Co., Ltd. to develop the technology industry in Jilin province.(People's Republic of China)



INVESTMENTS

Rabo Equity to Back Global Green Company

Rabo Equity Advisors will invest US$10 million in The Global Green Company Ltd., a producer of agricultural products ranging from pickled cucumbers to cherries and peas. (India)



Argonaut PE Refinances eYantra

Argonaut Private Equity has committed US$7.8 million to eYantra Industries Ltd. ('eYantra') in the latter's latest fund raising exercise, according to local reports. eYantra is a brand merchandising and corporate gifting solutions company based in Hyderabad. (India)




Global Investors Back Power Company

A consortium of global investors led by Morgan Stanley Infrastructure Partners has invested over US$425 million in Asian Genco Pte. Ltd., an infrastructure company that focuses on power generation assets in India. It also enlisted General Atlantic LLC and Goldman Sachs as investors in this latest fund raising exercise. (India)




KKR, Standard Chartered PE Drink Indian Coffee

Kohlberg Kravis Roberts & Co., Standard Chartered Private Equity and New Silk Route are said to have allocated around US$200 million for one of the businesses within the Coffee Day Holdings ('Coffee Day'), according to various reports. Coffee Day operates the largest organised retail cafe chain, Café Coffee Day, in India. (India)




Advantage to Support WILLCOM’s Revitalisation

Advantage Partners, LLP has agreed to join Softbank Corp. and Enterprise Turnaround Initiative Corporation of Japan in the revitalisation of WILLCOM, Inc. ('Willcom'). The private equity firm will invest ¥300 million (US$3.3 million) in Willcom's personal handyphone system business. Earlier, The Carlyle Group took a controlling stake in Willcom. (Japan)





Advent International to Bid for Minit Asia

Advent International and Wise Partners are reportedly bidding for Minit Asia Pacific Co., Ltd. ('Minit Asia') for no more than ¥15 billion (US$166 million), according to Reuters. Selling the shoe repair chain is CVC Capital Partners, which took control of Minit Asia in 2006. (Japan)




GEM Investing in MRC Allied Industries

UK-based Global Emerging Markets announces its commitment to MRC Allied Industries, Inc. ('MRC') for up to 1.38 billion Philippine pesos (US$30.1 million) over a period of three years. MRC is a property development company. (Philippines)




Sequoia et al Connect with Wireless Software Developer

A consortium of investors including Sequoia Capital China and Shenzhen Fortune Venture Capital Co., Ltd. has invested Rmb55 million (US$8.1 million) in Hantele Telecom Sci & Tech Co., Ltd., a software development and solutions company. (People's Republic of China)




KPCB and JAFCO in E-commerce

KPCB China and JAFCO Asia have participated in the latest round of financing of DHgate.com. No transaction details have been disclosed. DHgate.com is a B2B e-commerce platform for Chinese sellers and international buyers. (People's Republic of China)




WI Harper Broadens Its LED Portfolio

WI Harper Group announced having invested in the Beijing-based MaxIC Technology Corp., a developer of integrated circuits used in light emitting diodes for general lighting. No further information was disclosed. (People's Republic of China)




Suzhou Venture Group Acquires Qimonda's Assets

Suzhou Venture Group has acquired Qimonda AG's DRAM module assembly and testing facility in the Suzhou Industrial Park, and has renamed it as Gerad Technologies (Suzhou), according to local news. No transaction details were made available. (People's Republic of China)





Life Sciences Co. Raises US$16 million

An investor consortium including IDG-Accel, along with Morningside Venture Investments, have invested US$16 million in OriGene Technologies, Inc., a leading gene-centric life sciences company. (People's Republic of China)




Capital International, Blackstone in Largest Pre-IPO China Deal

Capital International Private Equity Funds, The Blackstone Group and Warburg Pincus have participated in a US$600 million commitment to Dili Group Holdings Co., Ltd. (‘Dili’), one of China's largest agricultural wholesale market operators. When completed, it will be the largest pre-IPO transaction in China as Dili is expected to seek a public listed status on The Stock Exchange of Hong Kong during the year. (People's Republic of China)



DIVESTMENTS

KPCB and Sherpalo Sell Shares of Info Edge

Kleiner Perkins Caufield & Byers Holdings Inc. and Sherpalo Ventures have sold a parcel of their holdings in Info Edge (India) Ltd. ('Info Edge') and is estimated to have returned around 859.1 million rupees (US$18.9 million) back to their coffers. Info Edge is an online website providing recruitment, real estate and educational services in India. (India)




PE Investors to Pare Down Holdings in Genpact

General Atlantic LLC and Oak Hill Capital Partners ('consortium') plan to sell a portion of their holdings in Genpact Ltd. ('Genpact') through a secondary offering on the New York Stock Exchange. The consortium invested in Genpact, a business process provider, back in 2004. They will continue to hold a substantial stake in Genpact following completion of this round of share disposal. (India)





CVC Sells GS Paper & Packaging to Oji Paper

CVC Capital Partners has sold GS Paper & Packaging to Japan's Oji Paper Co., Ltd. for an undisclosed amount. The private equity firm invested in the largest manufacturer of paperboard and corrugated boards in Malaysia back in 2007. (India)





Qingmei Group Listed on SGX

Qingmei Group Holdings Ltd. ('Qingmei'), backed by Centurion Investment Management, was listed on the Singapore Stock Exchange. Qingmei is a designer and manufacturer of sports shoe soles in China. (People's Republic of China)




SureKAM Listed on SZSE

SureKAM Corporation ('SureKAM'), co-founded by Legend Capital in 2002, was listed on the Shenzhen Stock Exchange. SureKAM is an IT system integrator. (People's Republic of China)




PEOPLE ON THE MOVE

Michael Dee

Mr Michael Dee, senior managing director of Temasek Holdings Pte. Ltd., is reportedly leaving his post, according to Singapore's The Business Times. He will take up the role as an advisory senior director until the end of the year. (Singapore)





Margot Wirth

California State Teachers Retirement System announces its promotion of interim co-director Ms Margot Wirth as Director of Private Equity. She will oversee the institution's US$16.8 billion private equity portfolio. (USA)




Stay tuned for APER's forthcoming issue for full coverage of the above!

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