NEWS
AES and CIC Will Not Proceed With Wind Joint Venture
China Investment Corporation ('CIC') and AES Corporation ('AES') announced the cancellation of their offshore wind generation joint venture. In November last year, CIC agreed to invest US$571 million in AES Wind. (
Offshore)
Khazanah Buys Motive Batteries
Khazanah Nasional Bhd. has allocated US$21 million as a cornerstone investor of Chaowei Power Holdings Ltd. which went public on The Stock Exchange of Hong Kong on 7th July. (
People's Republic of China)
INSTITUTIONAL INVESTORS
NZ Super Fund to Partner with Waterman
New Zealand Superannuation Fund has committed NZ$30 million (US$20.7 million) to the second private equity fund raised by Waterman Capital which is a New Zealand-owned and -operated private equity firm that focuses on investing in and adding value to small- to mid-market businesses. (
New Zealand)
IFC Invests in China WindPower
International Finance Corporation has agreed to deploy around US$10 million for Hong Kong-listed China WindPower Group Ltd. (
People's Republic of China)
FUNDS
CITIC Increases Capital for its PE Arm
CITIC Securities Co., Ltd. announced an additional commitment to the tune of Rmb2.2 billion (US$324.7 million) to its direct investment arm,
Gold Stone Investment Co., Ltd., virtually doubled the latter's capital pool. (
People's Republic of China)
Capital City Launches Four VC Funds
The Beijing Municipal government recently initiated four venture capital funds in the capital city. The four funds focus extensively on telecommunications, new energy, bio-medical and innovative technologies industries. Together, they represent a total fund pool of Rmb1 billion (US$147.6 million). (
People's Republic of China)
AMTC Forms JV Media Fund with CIBN
Singapore-based
Asia Media & Technology Capital Management Pvt. Ltd. has joined hands with China Information Broadcast Network Co., Ltd. to launch a US$500 million venture capital fund that targets media and technology companies. (
People's Republic of China)
China Aviation Fund Reaches Its First Close
The Rmb20 billion (US$2.9 billion) China Aviation Industrial Fund, the first that focuses on the country's aviation industry, has achieved its first closing at Rmb1 billion. The fund was launched in April 2009. (
People's Republic of China)
INVESTMENTS
Nexus Venture Backs Online Hotel Booking Portal
Nexus Venture Partners announced its 70 million rupees (US$1.5 million) investment in Magic Rooms Solutions India Pvt. Ltd. which is the country's first online global hotel distribution system. (
India)
Omidyar Network Leads Latest Investment in D.light Design
Omidyar Network has led the latest round of financing of D.light Design which raised an aggregate US$5.5 million. D.light Design designs and manufactures consumer products for households. (
India)
Actis and Khazanah Take Positions in IDFC
Actis Capital LLC and
Khazanah Nasional Bhd. have together subscribed an aggregate 8.4 billion rupees (US$179.6 million) to Infrastructure Development Finance Company Ltd. which was recently classified under the "infrastructure finance company" category that would allow it to raise up to 50% of its funds overseas without having to seek government approval. (
India)
Blackstone & Goldman Sachs Complete Investment in EMOBILE
The Blackstone Group and
Goldman Sachs Group, Inc. have completed their investment in EMOBILE Ltd. for ¥45 billion (US$502.6 million). EMOBILE is a mobile broadband telecommunications service provider. (
Japan)
CITIC Capital Prepares to Pack a Deal
CITIC Capital Partners is reportedly in talks to invest US$65.5 million in Tri-Wall Japan Co., Ltd., a company that provides heavy-duty packaging materials, designs and services, according to
The Wall Street Journal. (
Japan)
The Blackstone Group has committed an approximate US$45 million to Singapore-listed China Animal Healthcare Ltd. which is engaged in the manufacture, sale and distribution of animal drugs. (
People's Republic of China)
IBM Boosts Telecom IT player
IBM (China) Corp., through its
IBM China Investment Fund, has invested in China-based Bright Oceans Inter-Telecom Co., Ltd., representing a deployment of Rmb50 million (US$7.4 million). (
People's Republic of China)
Tsing Capital in Energy Saving Transformer
Tsing Capital has invested Rmb30 million (US$4.4 million) in Shenyang Haocheng Electric Co., Ltd. an energy-saving electrical transformer manufacturer. (
People's Republic of China)
Carlyle Feeds Another Deal to its China Portfolio
The Carlyle Group is to take an 11.3% stake in the Hong Kong-listed C.P. Pokphand Co., Ltd. which focuses on animal feeds development and production in China. The transaction came on the heels of a recent US$190 million commitment to China Fishery Group Ltd. (
People's Republic of China)
Lombard Raises Stake in Medical City
Lombard Investments has increased its ownership in The Medical City ('TMC'), a private tertiary-care hospital. The fresh capital will be used by TMC to finance expansion. (
Philippines)
DIVESTMENTS
Affinity Sells Loscam to China Merchant Group
Affinity Equity Partners sold Loscam Ltd. a provider of returnable package handling solutions in Australia and Asia, to China Merchant Group, concluding an investment that began back in 2005. Reportedly, the deal size was between A$650 million (US$547 million) to A$700 million. (
Australia)
Istithmar Takes Its Last Flight with SpiceJet
Dubai-based
Istithmar World Capital has sold all of its interest in SpiceJet Ltd. and recorded a return of US$25.4 million. The sale also concluded a partnership that began more than six years ago. (
India)
Swiss Tech Fund Exits from Ocean Sparkle
BTS Investment Advisors, manager of the Swiss Technology Venture Capital Fund, has sold its interest in Ocean Sparkle Ltd. to
Eredene Capital plc for US$11.1 million. (
India)
Weak IPO Battery for Chaowei
Chaowei Power Holdings Ltd. ('Chaowei') made its debut on The Stock Exchange of Hong Kong. Chaowei is a leading lead-acid motive battery manufacturer in China that counts
Hony Capital as a recent investor. (
People's Republic of China)