In this episode of China Money Network, guest Monte Brem, CEO of private equity firm StepStone Group, shares his firm’s investments in China and how offshore investors can protect themselves when investing with local Chinese managers. Listen to the full-interview in the audio podcast, watch the shortened video version or read an excerpt. Q: You have been relocated to China for more than two years, and StepStone’s office in Beijing opened about two years ago. How have your businesses in …
Vector, CITIC To Sell RAE Systems To Honeywell In Profitable Exit
Honeywell has agreed to buy RAE Systems, Inc. for US$340 million from its private equity owners, Vector Capital and CITIC Capital Partners. Headquartered in San Jose, California and founded in 1991, RAE Systems manufactures intelligent gas and radiation detection systems used in more than 120 countries.
Focus Media Privatization Deal Gets Green Light From Shareholders
NASDAQ-traded Focus Media says today that shareholders have voted to approve a deal to privatize the company, adding to a long list of Chinese companies that have quit foreign exchanges. Previously announced on December 19 last year, the go-private deal values the Shanghai-based Chinese advertising company at US$3.7 billion at a price tag of US$27.50 per American Depositary Shares (ADS), a premium of 17.6% over its last day’s closing price before the announcement.
CITIC Capital, Edward Tian Push Forward On AsiaInfo-Linkage Go-Private Deal
An investor consortium led by CITIC Capital Partners says it has signed a definitive merger agreement to take NASDAQ-listed Chinese company AsiaInfo-Linkage, Inc. private in a US$890 million deal. Beijing-headquartered AsiaInfo-Linkage is a software and IT services provider to the telecommunications industry. The buyer consortium is led by US$2.6 billion-under-management
Actis Capital Exits Chinese Kitchen Equipment Maker Vesta
Glenview, IL-based Illinois Tool Works Inc. says that it has acquired Vesta (Guangzhou) Catering Co., a kitchen equipment maker owned by Actis Capital, a private equity firm investing exclusively in Africa, Asia and Latin America. The terms of the deal are not disclosed, but the exit came just a little over two years after Actis Capital invested in Guangzhou-based Vesta in May 2011.
CITIC Capital Closes $113M China Venture Fund
CITIC Capital Holdings Ltd. (CITIC Capital) says its debut China venture fund, CITIC Capital Venture Partners, has reached final closing of US$113 million. The fund originally targeted to raise US$150 million. It is among numerous fund managers raising funds short of their targets.
Investor Consortium Including CITIC Capital Invests In S.F. Express
CITIC Capital Holdings Limited, Oriza Holdings and China Merchants Group have formed an investor consortium to invest in S.F. Express. The investor group will acquire no more than 25% of the Shenzhen-based logistics company.
CITIC Capital Acquires Canadian Industrial Firm In Secondary Transaction
Chinese private equity firm CITIC Capital has teamed up with New York-based Crestview Partners to buy Canadian industrial company Stackpole International.
Cinda And Oaktree Plan Distressed Debt Joint Venture
Beijing-based China Cinda Asset Management Co. and Los Angeles-based Oaktree Capital Group says that the two companies have entered into a memorandum of understanding to establish a strategic partnership and to cooperate on business operations.
CITIC Capital And Windjammer Acquires US Industrial Firm ECI
CITIC Capital Partners has acquired North Carolina-based industrial company Engineered Controls International (ECI) with the company’s management team and partner investor Windjammer Capital, a U.S. middle market private equity firm.
China’s Clean Tech Sector Scored $920M In Venture Investments In 2013
Venture capital investments in China’s clean tech sector totaled US$920 million in 2013, up 156% compared with US$360 million in 2012, according to data released by consulting and research firm the Cleantech Group.
CITIC Capital Completes AsiaInfo-Linkage Privatization Deal
NASDAQ-listed Chinese telecommunication software firm AsiaInfo-Linkage, Inc. says that it has completed a take-private deal led by CITIC Capital Partners.
Private Equity Firms Speed Up Investments In China
Chinese venture and private equity firms executed a total of 89 investments during the fourth quarter of 2013, making it the most active quarter since the third quarter of 2011, according to a release by the Emerging Markets Private Equity Association (EMPEA).
PE-Backed Luye Pharma Plans $750M HK IPO
Yantai, Shandong Province-based Chinese drug-maker Luye Pharma Group, which is backed by Chinese private equity firms, is planning an IPO in Hong Kong during the first half of this year, according to media reports.
Sequoia Capital Leads $50M Series C Round For Cheyipai
Beijing-based second-hand automobile trading platform Cheyipai has received US$50 million in series C funding, according to an announcement made on the company’s official Weibo account.
Focus Media Eyes $1B Hong Kong IPO
Shanghai-based Chinese digital media and display advertising company Focus Media is planning an IPO in Hong Kong to raise as much as US$1 billion, according to media reports.
Smart Wearable Maker Codoon Receives $9.76 Series A Financing
Chengdu, Sichuan province-based smart wearable maker Codoon.com has received 60 million yuan (around US$9.76 million) series A financing, according to Chinese media reports.
First Fifty Chinese PE Firms Win Licenses From AMAC
The first batch of 50 private equity firms in China have won licenses from Asset Management Association of China (AMAC), according to an announcement on AMAC’s website.
CITIC Capital Among Cornerstone Investors Of Harbin Bank’s $150M HK IPO
Chinese private equity firm CITIC Capital has agreed to commit HK$1.16 billion ($150 million) to the initial public offering of Harbin Bank, according to media reports.
Shsun Education Receives Over $16M Series A Funding From CITIC Capital
Beijing and Shanghai-based education and training institution Shsun Education has received close to RMB100 million ($16 million) series A funding from CITIC Capital, according to a company announcement.
RRJ, Temasek To Inject $250M In Shanghai Yupei Group
Chinese logistics warehouse developer Shanghai Yupei Group says that RRJ Capital and an investment company managed by SeaTown Holdings International, an investment firm wholly-owned by Temasek Holdings, have agreed to invest US$250 million in Yupei, according to a company announcement.
CITIC Capital, Sonae Sierra Launch Property Management Joint Venture
CITIC Capital Holdings Limited and international shopping center operator Sonae Sierra says they have launched a joint venture to provide management and leasing services to shopping centers in China, according to a company announcement.
Yunfeng Injects Capital In Courier Firm Quanfeng Express
Chinese courier firm Quanfeng Express has received funding from Yunfeng Capital, a private equity firm co-founded by Alibaba Group Holding’s Jack Ma, according to information posted on Quanfeng’s website.
AGP Invests $650M In Warburg Pincus-Backed E-Shang
Dutch pension fund asset manager APG Asset Management N.V. says it has agreed to invest up to US$650 million for an approximately 20% stake in Chinese logistics real estate developer and operator e-Shang, according to an announcement by APG.
China’s FountainVest Aims For More Buyout Deals
The author is Nina Xiang, editor of China Money Network An ancient Chinese sage claims: One will start thinking about changes when one is in extreme difficulty. It still holds true for today’s Chinese private equity players.
Warburg Pincus Injects $50M Follow-On Investments In ANE Logistics
Hangzhou-based Chinese logistics company ANE Logistics has received US$50 million followed-on investment from Warburg Pincus, according to an announcement from ANE.
CITIC Capital Completes Buyout Of US Dental Equipment Firm
CITIC Capital Partners says it has completed the buyout of U.S. dental equipment firm DDS Lab, LLC, according to a company announcement.
CDH, CITIC Realize Partial Exit In Luye Pharma $764M IPO
Yantai, Shandong Province-based Chinese drug-maker Luye Pharma Group has completed a Hong Kong IPO, raising a total of US$764 million by selling 999.6 million shares at HK$5.92 per share, according to an official announcement.
Baring, Hony, CDH Complete Giant Interactive Go-Private Deal
Shanghai-based online game developer and operator Giant Interactive Group Inc. has competed a go-private deal by Baring Private Equity Asia, Hony Capital and CDH Investments, according to a company announcement.
Tiger Global, Carlyle Lead $200M Round In Ganji.Com
Beijing-based Chinese classified ads listing portal Ganji.com has completed over US$200 million new round of financing, led by New York-based investment firm Tiger Global Management LLC and the Carlyle Group, according to Chinese media reports.
CITIC Capital Acquires Controlling Stake In King Koil
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, says it has acquired a controlling stake in Chinese mattress maker King Koil Shanghai Sleep System Co., Ltd, according to an announcement made by CITIC Capital Partners.