Monte Brem: Investors Must Safeguard Against RMB Fund Preferential Treatment In China

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 …

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.

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).