MBK Partners has reportedly failed to put together a consortium to bid for Lone Star's controlling stake in Korea Exchange Bank, further prolonging the divestment process of this investment. (South Korea)

GOME Electrical Appliances Holdings Ltd., which counts Bain Capital LLC as its major foreign investor, has initiated legal proceedings against its founder Mr Wong Kwongyu. The latter also sought the removal of certain board members of the company. (People's Republic of China)

The New Zealand government has announced a NZ$40 million (US$29.3 million) underwrite for the New Zealand Venture Investment Fund's venture capital programme, bringing its total commitment to-date to NZ$200 million. (New Zealand)

Khazanah Nasional Bhd. has succeeded in gaining control of the Singapore-listed Parkway Holdings Ltd. It is to deploy S$1.76 billion (US$1.29 billion) to bring its current stake to 64%. (Malaysia)

International Finance Corporation is considering investing US$50 million in Xinjiang Goldwind Science & Technology Co., Ltd. which is raising US$1.1 billion to build and upgrade manufacturing facilities. (People's Republic of China)

Legend Holdings Ltd. will invest in China Auto Rental Inc., for reportedly Rmb1 billion (US$147.4 million). (People's Republic of China)

Sonoma Management Partners Pvt. Ltd., announced the launch of its India Buyout Fund II that has a target size of US$100 million and with a fund life of seven years. (India)

Lighthouse Funds, LLC has invested 339 million rupees (US$7.4 million) in Dhanuka Agritech Ltd. which is listed on the Bombay Stock Exchange. (India)

IndoUS Venture Partners has invested around 150 million rupees (US$3.3 million) in Visionary RCM Infotech India Pvt. Ltd, a provider of medical administrative procedures software. (India)

SBI Macquarie Infrastructure Management Pvt. Ltd. has made its maiden investment in committing 1.25 billion rupees (US$27 million) to Adhunik Power & Natural Resources Ltd., a power company. (India)

IL&FS Investment Managers Ltd. is to invest 750 million rupees (US$16.1 million) in Karuturi Global Ltd, a Bangalore-based agricultural company. (India)

University of Tokyo-Edge Capital has teamed up with US-based ARCH Venture Partners to lead a US$4 million deployment into Ciespace Corp, an American software company. (Offshore)

China Media Capital has agreed to take control of three assets currently owned by US-based News Corporation. Both parties will set up a joint venture to operate TV channels as well as a Chinese movie library. (People's Republic of China)

Ascent Capital has sold a portion of its holding in Ambika Cotton Mills Ltd. in the open market, and is estimated to have returned around US$0.9 million to its coffers. (Japan)

Citigroup Venture Capital International (‘CVCI’) has sold all of its holding of KS Oils Ltd. in the open market. Since 2006, CVCI had injected an aggregate of US$20 million into the Indian integrated edible oil company. (India)

MakeMyTrip Ltd., backed by SAIF Partners, Helion Venture Partners and Sierra Ventures, was listed on NASDAQ. It offered its shares at US$14 each, which closed at US$26.45 on its first day of trading. (India)

Jiangxi Ganfeng Lithium Co., Ltd., backed by Haitong-Fortis Private Equity Fund Management Co., Ltd., was listed on the Shenzhen Stock Exchange. (People's Republic of China)

ChiNext recently hosted the listings of three venture capital-backed companies:

• Leshi Internet Information & Technology Corp., Beijing, backed by Shenzhen Capital Group Co., Ltd.;
• Xiamen Changelight Co., Ltd., which had earlier raised funds from Sequoia Capital China; and
• Xi'an Dagang Road Machinery Co., Ltd., which counts Shenzhen FortuneVenture Capital Co., Ltd. as its investor (People's Republic of China)
  

China Kanghui Holdings, which counted IDG Capital Partners and CDH Investments as investors, made its debut on the New York Stock Exchange. (People's Republic of China)

Mr Harjit Bhatia has set up his own private equity firm, Growth Capital Asia, following his resignation as chairman of Credit Suisse Private Equity Asia. (Pan-Asia)