Chinese private equity group Orient Hontai Capital has agreed to buy a 53.5% stake in Spanish media firm Imagina Media Audiovisual, valuing the target company at an enterprise value of EUR1.9 billion (US$2.34 billion).
An investor corsortium led by funds managed by CITIC Capital Holdings Ltd. and Chinese media firm Caixin Global has reached an agreement to acquire a unit of London-listed Euromoney Institutional Investor PLC for US$180.5 million, the firms announced today.
Canada Pension Plan Investment Board (CPPIB) and Chinese property developer Longfor Properties Co. Ltd announced today they are extending their cooperation to include two new mixed-use real estate development projects in Chengdu and Shanghai in China, for a total CPPIB commitment of approximately RMB4.2 billion (US$663 million).
Japan’s financial services firm Orix Corp has led a US$70 million follow-on series D round funding in Chinese peer-to-peer lending platform Dianrong, and plans collaboration between the two companies.
Chinese Internet security firm Qihoo 360 Technology Co. Ltd. has teamed up with Beijing Cultural Center Fund to established a RMB1 billion (US$150 million) Internet and culture industry-focused fund.
U.K.-listed Intermediate Capital Group (ICG) and its funds have acquired a 100% stake of Singapore’s private eduction institution PSB Academy (PSB) from Baring Private Equity Asia (BPEA).
Pan-Asia private equity firm Baring Private Equity Asia said that its affiliated private equity funds have sold Korean cement business Halla Cement to Taiwan-based Asia Cement for a total enterprise value of US$723 million, marking a quick exit for a business it acquired less than two years ago.
Global alternative asset manager The Carlyle Group has hired Wanlin Liu, former managing director at Goldman Sachs Principal Investment Area, as managing director.
Tiger Global Management and CMC Capital Partners have reportedly led a US$450 million new funding round in Meicai.cn, a fresh produce e-commerce platform connecting farmers and restaurants.
American private equity firm Warburg Pincus’s affiliate and Genesis Capital have invested US$120 million in a series D round in Chinese online tutoring start-up Zhangmen, the company announced in a press release today.
Tencent Holdings Ltd. and private equity firm Orchid Asia Group have led an investment round worth hundreds of millions of RMB in Shanghai-based online music tutoring platform Peilian.com.
China’s largest co-working office space operator UrWork, founded in 2015, has raised a RMB300 million (US$45 million) series C financing round at RMB9 billion (US$1.3 billion) valuation. The new financing round came four months after the two-year-old start-up raised a RMB1.2 billion (US$179 million) pre-C round in August.
China’s largest private agriculture company New Hope Group has completed the acquisition of Australia’s Real Pet Food Company from Quadrant Private Equity for A$1 billion (US$770 million), in a move to further its foray into the fast-growing pet industry in the country.
Chinese cloud storage and distribution firm Kingsoft Cloud has raised US$300 million series D round from Chinese private equity firm Liyue Investment and China Minsheng Investment, as well as Kingsoft Cloud’s controlling shareholder Kingsoft.
Vion Technology Inc., a Chinese artificial intelligence firm specializing in machine vision, has raised a US$20 million series B round from Samsung Electronics, Swiss automation company ABB, Chinese venture firm Tsing Capital and Hong Kong-based investment firm Waterwood.
Canada Pension Plan Investment Board (CPPIB) announced that it had invested HK$1.94 billion (US$248 million) to acquire an interest in Goodman Hong Kong Logistics Partnership (GHKLP), one of Goodman’s flagship logistics partnerships with the largest portfolio of logistics properties in Hong Kong.
The year 2017 will be remembered as a record setter for the Chinese private equity and venture capital industry, as the number of IPO exits secured by PE/VC firms this year almost doubled from a year ago. In fact, the number of IPO exits in 2017 is equals to half of all IPO exits recorded in the six years from 2011 to 2016.
Accenture PLC, a global management consulting and professional services company, has appointed Wei Zhu, formerly managing director of Standard Chartered Private Equity (SCPE), as chairman and geographic unit managing director for Accenture Greater China, effective January 1, 2018.
KKR today announced a newly promoted group of 23 members, which are KKR’s equivalent of partners, and 44 managing directors, effective from January 1, 2018. Two members and five managing directors in Asia Pacific are among the newly anointed top ranks at one of the largest private equity firms in the world with US$153 billion assets under management as of September 30, 2017.
Hong Kong-based real estate private equity firm Gaw Capital Partners and a consortium of partners including Goldman Sachs have won a bid to acquire a retail portfolio comprising 17 shopping centers in Hong Kong from Link Asset Management Ltd for HK$23 billion (US$3 billion).
The child abuse scandal at RYB Education Inc. (NYSE:RYB) reduced its stock price by nearly 40% last week, just three months after the company’s New York Stock Exchange IPO. The collapse has cost the company’s top ten institutional investors, including China’s largest private equity fund Hillhouse Capital and well-known investment management firm Greenwoods Asset Management, a combined US$52 million on paper. But the losses might have been avoided if investors had taken into account some inherent weaknesses in RYB’s business …
Chinese investment banking and asset management firm China Renaissance aims to reach US$10 billion in total assets-under-management by 2020 from adding new investment capabilities in healthcare and mezzanine debt, as well as new investment strategies including hedge funds to its platform, according to a company announcement.
China Reform Holdings Co., Ltd. has led a RMB670 million (US$101 million) new funding round in 3D Medicines, a Chinese healthcare firm developing precision medicine for cancer treatment.
Preceptis Medical Inc., a U.S.-based pediatric surgical technologies developer, has reached the initial closing of its series B financing round led by a group of unnamed Chinese private investors.
Asian alternative investment management group PAG has acquired a super-majority controlling interest in China’s most popular online dating site, Zhenai, which is 20% owned by U.S.-based Match.com.
Real estate private equity firm Gaw Capital Partners acted as co-capital sponsor in the first close of US$550 million for a China outlet mall investment fund. The ERES APAC II – China Outlet Mall Fund is backed by Allianz, Gaw Capital Partners, and TIAA General Account, a Frankfurt-based German asset management company, among others.
Shouqi Limousine & Chauffeur, a Chinese ride-booking app backed by Beijing-based automobile company Shouqi Group, has raised a RMB700 million (US$105 million) series B+ round from NIO Capital, Baidu Inc. and Silk Road Huachuang Beijing Co., Ltd.
When you are Jack Ma, you never think small. The founder and executive chairman of Chinese technology giant Alibaba Group Holding Ltd. says he thinks that Yunfeng Capital, the private equity fund he co-founded, will one day rival the most powerful money managers in the world.
China Merchants Capital Investment Co., Ltd. has led a series C round worth over US$100 million in yMatou.com, an online cross-border e-commerce platform.
China’s CITIC Capital, Haier Capital, Lenovo Holdings Corp and Legend Capital have led a nearly RMB700 million (US$105 million) series C round in Phoenix Travel Worldwide Co., Ltd., an overseas travel agency.
China’s largest online automobile financing platform Yixin Group, backed by investment heavyweights Tencent Holdings Ltd, Baidu Inc., JD.com and BitAuto Holdings Ltd, plans to raise up to HK$6.77 billion (US$867 million) via an initial public offering on the Hong Kong Stock Exchange.