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Weekly Asia News (Friday)

Shipping industry looking to new sources of funding

The shipping sector is looking to new sources of finance in place of bank funding, according to survey by international legal practice Norton Rose Group. While 43% of respondents said that they expect their primary source of funding will continue to come from bank debt over the next two years,

China overtakes UK in venture financing

China surpassed the UK to become the second-largest recipient of venture capital equity financing in 2011. According to Dow Jones VentureSource, which tracks venture-backed companies, Chinese firms received 332 venture capital equity financing deals in 2011, surpassing the UK’s 274. The US retained its lead with 3,209 deals. Each deal represents

Paul Christopher, Mourant Ozannes

Mourant Ozannes moves into Asia

Offshore law firm, Mourant Ozannes, has opened an office in Hong Kong to provide clients and intermediaries with access to the firm’s offshore legal services in an Asian time zone. The office opening has been timed to coincide with celebrations for Chinese New Year, giving Mourant Ozannes’ Asian office an

William E Ford, CEO, General Atlantic

General Atlantic opens Singapore office

General Atlantic has opened a new office in Singapore. The office is led by Managing Director Abhay Havaldar, while Nick Nash, a Vice President with GA, has relocated to Singapore from New York to join the new Singapore team. The Singapore office is GA’s tenth office globally and its fourth

The Jordan Company completes sale of International Mining Machinery to Joy Global

The Jordan Company, a leading middle-market private equity firm, has completed the sale of International Mining Machinery Ltd to Joy Global Inc, a high productivity mining solutions provider. In July 2011, the Jordan Company announced that it had entered into an Share Purchase Agreement to sell 534.8 million shares of

Symphony invests in boutique luxury brand Maison Takuya

Symphony International Holdings Limited has taken a stake in a boutique luxury leather goods brand, Maison Takuya, known for its hand-crafted leather products and accessories. This new investment is in line with Symphony’s strategic focus on consumer-driven businesses, particularly in the Lifestyle, Hospitality, Branded Real-Estate and Healthcare sectors across Asia

China Flag

CPEH raises USD1 million for future investments

The AIM-quoted investment group China Private Equity Investments Holdings Limited has raised USD1 million (approximately GBP641,660) through the issue of 2,500,000 new shares at USD0.40 per share to Max Era Properties Limited.  CPEH also announced yesterday that it has appointed a new Chief Financial Officer, Alex Chow, with extensive listed

Singapore

eFront opens Singapore office

eFront, a software provider of solutions for the alternative investment market, has opened a new office in the heart of Singapore’s financial and trade centre. The new office, eFront’s third in Asia, will focus on addressing the private equity, real estate and infrastructure investment sectors. Complementing the teams operating out

Southern Cross secures REVCF mandate

Southern Cross Venture partners has secured the mandate to run the Australian Government’s first Renewable Energy Venture Capital Fund. The Australian Private Equity and Venture Capital Association (AVCAL) has commended the Government for moving quickly to establish the AUD200 million fund (AUD100m provided by Government and AUD100m by private investors)

Aureos appoints new Asia Partner

Aureos Capital Limited has expanded its Asia team with the appointment of Ashish Patel as Partner for Asia. Aureos is a private equity fund management company specialising in investing in small and medium sized businesses in emerging markets. Patel spent over a decade at Intel Capital, the private equity arm

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