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FountainVest, Tencent, CITIC Capital To Reap Billions In Profit From Focus Media Share Sale

A number of investors in Focus Media Information Technology Co., Ltd. are likely to reaped billions of U.S. dollars in profits after they offload their shares in the Chinese outdoor advertising company that was taken private in 2013 and re-listed in China two years later. According to a disclosure filing yesterday, Chinese private equity firm FountainVest Partners, Tencent Holdings Ltd. and CITIC Capital plan to sell their interests in Focus Media totaling around 14% of the company’s outstanding shares. The …

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).

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.

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.