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Weekly Asia News (Friday)

Evercore appoints Keith Magnus as senior MD to launch Singapore office

Keith Magnus has agreed to join the Evercore’s investment banking business as a senior managing director.   He will establish the firm’s office in Singapore and, as chief executive officer of Evercore’s business there, will focus on providing strategic, merger and acquisitions and capital markets advice to companies in Singapore

Vaultize raises VC funding from Tata Capital Innovations Fund

Enterprise file sharing and sync (EFSS) and mobility vendor Vaultize has secured a venture capital investment from Tata Capital Innovations Fund. The funding will help the company scale up its go-to-market strategy, including expansion across the world, with immediate plans to establish operations in the US and Europe in conjunction

Hong Kong

InvestHK launches StartmeupHK Venture Programme

Invest Hong Kong has launched its StartmeupHK Venture Programme 2013 to attract local and overseas entrepreneur-led businesses to set up or expand in Hong Kong.   The programme features a global competition for innovative and high-impact entrepreneurs.   It will culminate in a week-long event in December 2013 in which

India flag

Perk up in public markets aids Indian PE exits in second quarter

Private equity firms obtained exit routes for their investments in 29 Indian companies during the quarter ended June 2013, up 38 per cent over the 21 exits in the same period a year ago, says data from Venture Intelligence, a research service focused on private company financials, transactions and valuations

China Private Equity Holdings and Adamas Asset Management plan USD20m JV

AIM-quoted China Private Equity Investment Holdings is planning a seven-year USD20m joint investment programme with the Hong Kong-based investment management firm Adamas Asset Management.   The move is in line with the developing strategic partnership between the companies agreed last November.   The programme will target investments predominantly in income-generating

India flag

Mega buyouts prop Indian PE investments to USD2.3bn in Q213

Private equity firms invested about USD2.3bn across 82 deals in India during the quarter ended June 2013, according to early data from Venture Intelligence.   The investment amount was 17.7 per cent higher than that invested in the same period last year (USD1,980m across 114 transactions) and almost 2.3 times

Actis exits China’s Vesta

Pan-emerging markets private equity firm Actis has sold its 70 per cent stake in Vesta, a commercial kitchen equipment maker in China, to Illinois Tool Works (ITW).    Vesta is the largest designer and maker of Western style, mid-range commercial kitchen equipment in China with its flagship brand, Justa, now

Box

Palmer Capital sells Big Orange Self Storage

Palmer Capital has completed the sale of its Big Orange Self Storage (BOSS) fund portfolio to Asian buyers for USD136m.   One asset has been sold to a local Chinese investor for HKD498,000,000 (USD64.2m).   The BOSS operating business and the four remaining Singapore assets have been sold for SGD90.5m

Qiming promotes Nisa Leung to managing partner

Qiming Venture Partners has promoted Nisa Leung to managing partner effective immediately.   Leung (pictured) joined Qiming as a venture partner in 2006 to head the firm’s healthcare practice. She currently sits on the board of Gan & Lee Pharmaceutical, Novast Pharmaceuticals, Crown Bioscience, Sangon Biotech, Nurotron, Goodwill Information Technology,

Morrison & Foerster guides SoftBank to successful deal for Sprint Nextel

Shareholders of Sprint Nextel have voted overwhelmingly to approve a bid by Japan’s SoftBank to acquire a controlling 78 per cent stake in the company for USD21.6bn.    The telecom deal for America’s third largest wireless carrier is also the largest outbound investment ever by a Japanese company. The transaction is

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