Mahindra & Mahindra Ltd. has picked up a majority stake in REVA Electric Car Co. Ltd. ('REVA') through an investment of US$10 million.
       In 2006, REVA received an aggregate of US$20 million from Draper Fisher Jurveston and Global Environmental Fund. (India)

The alternative investments group at Teachers Insurance and Annuity Association - College Retirement Equities Fund ('TIAA-CREF') will be taken over by two existing groups within TIAA-CREF, Portfolio Management and Private Placement Investments. (Offshore)

China International Capital Corp. has submitted its application to China Securities Regulatory Commission for a shareholding alternative, bringing it a step closer to Morgan Stanley's disposal of its 34.3% stake in the joint venture investment bank. (People's Republic of China)

International Finance Corporation ('IFC') is considering committing an aggregate 950 million rupees (US$20 million) in equity investment and loans to National Collateral Management Services Ltd. The capital coming from IFC will be used to construct new warehouses in rural and semi-urban areas in India. (India)

The National Council for Social Security Fund has reportedly invested Rmb15 billion (US$2.2 billion) in the Agricultural Bank of China. The latter is preparing for its initial public offering, which is seeking to raise US$30 billion. (People's Republic of China)

Taiwan Semiconductor Manufacturing Company Ltd. has invested US$5 million in Shanghai Walden Semiconductor Venture Capital Investment Enterprise, which is a Rmb500 million fund to be launched and managed by Walden International. (People's Republic of China)

Aozora Group has established a ¥3 billion (US$33.2 million) Utsukushima Mirai Fund with a host of organisations. It is the first public-private venture for the Tohoku region and will support the recovery of small and medium enterprises in the Fukushima Prefecture. (Japan)

Mr Fred Hu, former chairman in China of Goldman Sachs Group Inc., will launch a US$10 billion private equity fund, according to China Daily. Ping An Insurance (Group) Company of China, Ltd. could commit US$5 billion to Chunhua Fund, according to the paper. (People's Republic of China)

The CID Group Ltd. ('CID') announced the closing of its third venture capital fund, CID Greater China Venture Capital Fund III, LP ('CID Fund III'), which was hard capped at US$400 million. CID Fund III has a ten-year life cycle and focuses on the Greater China region. (People's Republic of China)

Taiwan's Uni-President Enterprise Corporation has announced its plan to establish a fund that focuses on the consumer industry in China. The fund will have a target size up to Rmb3 billion (US$439.2 million). It will be jointly managed with Shanghai International Group Asset Management Co., Ltd. (People's Republic of China)

The Blackberry Partners Fund has announced the launch of Blackberry Partners Fund China, a US$100 million mobile technology fund, in collaboration with China Broadband Capital Partners, a China-based private equity firm focused on media and technology sectors. (People's Republic of China)

Granite Hill Capital Partners has acquired a 4.7% stake in Net 4 India Ltd. ('Net 4') for 80.5 million rupees (US$1.7 million) through a preferential allotment. Last year, it also secured a commitment from Madison India Capital. Net 4 offers internet bandwidth services and data centre solutions. (India)

New Enterprise Associates has joined hands with GTI Group LLC in the latest round of financing to Nova Medical Centers India Pvt. Ltd. ('Nova'), which raised around 1 billion rupees (US$21 million) from these two investors. Nova develops and manages day care surgical centres. (India)

Actis will acquire a stake in the power business of GVK Power & Infrastructure Ltd. ('GVK') for around 10 billion rupees (US$213.5 million), according to local reports. GVK develops infrastructure projects that include roads, airports and power plants. (India)

The Longreach Group Ltd. ('Longreach') has received approval from Sanyo Electric Co., Ltd. ('Sanyo') to acquire a stake in the JASDAQ-listed Sanyo Electric Logistics Co., Ltd. Longreach will pay ¥10.4 billion (US$115.1 million) for Sanyo's entire 57.7% holding in the logistics company. (Japan)

TPG and Advantage Partners, LLP are among the bidders to acquire Anabuki Construction Inc. ('Anabuki'), a debt laden Japanese apartment developer, according to Reuters. However, according to the latest report by Nikkei, J-Will Partners, which will join Daikyo Inc., are believed to be the likely winners in this bid for Anabuki. (Japan)

Daiwa Quantum Capital Ltd. has invested US$15.6 million in Taiwan-based Alchip Technologies, Inc. ('Alchip'), which is a fabless IC design service company. Alchip will use the funding for the expansion of its design capacity as well as working capital. (People's Republic of China)

SIG China has invested around Rmb100 million (US$14.7 million) in the Series B financing of China Ticket Service Net. The latter offers online ticketing services in China. (People's Republic of China)

KPCB China and Qiming Venture Partners have invested US$20 million in Arrail Dental, which provides dental and orthodontics services. (People's Republic of China)

Advantage Partners, LLP will inject approximately HK$186.4 million (US$24 million) in Hong Kong-listed Qin Jia Yuan Media Services Company Ltd., which engages in the production of TV drama series. (People's Republic of China)

ChiNext hosted two listings of companies backed by private equity and venture capital investors.

• Hainan Honz Pharmaceutical Co., Ltd. is backed by Cowin Capital Co., Ltd. and Shenzhen CDF-Capital Co., Ltd.
• Wuhu Token Science Co., Ltd., the electronic display material manufacturer, had earlier enlisted Haitong-Fortis Private Equity Management Co., Ltd. as its investor

All investors in these two companies did not dispose of their holdings. (People's Republic of China)

Youyuan International Holdings Ltd. ('Youyuan'), backed by Cathay Capital Group, was listed on The Stock Exchange of Hong Kong. Its first day closing price was a slight 2.3% decline to its offer price. Youyuan is a wrapping tissue paper manufacturer. (People's Republic of China)

Mr Dinesh Tiwari, executive director in charge of JPMorgan Chase & Co.'s private equity business in India, has resigned, according to local reports. (India)

Singapore sovereign wealth fund Temasek Holdings (Private) Ltd. ('Temasek') announced two senior appointments for the firm.

• Mr Hsieh Fu Hua has been appointed as the president and executive director in charge of succession planning and talent development at Temasek with effect from August this year
• Mr Dilhan Pillay Sandrasegara will join as the head of Portfolio Management and commence his tenure in October (People's Republic of China)