August 29, 2011 / 1:06 AM / 8 years ago

ASIA PRIVATE EQUITY WEEKLY NEWS, AUGUST 29, 2011

HONG KONG, August 22 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending August 26.

AUGUST 26

REUTERS INSIDER-China still provides investors good opportunities in the residential property sector, says ING Real Estate, which targets returns of about 20 percent.

VED PRAKASH ARYA, the chief executive of Milestone Capital, one of the largest Indian private equity firms, died of injuries sustained when a coconut tree fell on him, a fund executive said.

AUGUST 25

CLEAN ENERGY Fuels Corp said three investment companies would follow Chesapeake Energy in investing $150 million in the North American natural gas fuels provider, sending its shares up as much as 9 percent.

Aubrey McClendon, chief executive of the No.2 U.S. natural gas producer Chesapeake, said the company introduced Clean Energy to Temasek Holdings, Seatown Holdings and RRJ Capital Master — run by Asian investor Richard Ong.

INDIA’S SREI Infrastructure Finance plans to raise $1 billion through an infrastructure equity fund that would invest in areas such as roads, power and ports, a top company official said on Thursday.

U.S. PRIVATE EQUITY firm Carlyle Group said on Thursday it will invest $26 million in India’s Value & Budget Housing Corp, a builder of entry-level housing in the country.

AUGUST 24

QANTAS AIRWAYS sought to play down talk of a takeover bid as it focuses on expanding in Asia and taming labour unrest over its plans to slash jobs in Australia.

AIRLINE QANTAS Airways should remain majority Australian-owned, the government said in response to speculation the company was a takeover target.

PRIVATE EQUITY firms Sequoia Capital and Nexus Venture Partners together invested $12 million in unlisted technology firm Druva for a minority stake, the Indian firm said.

GLOBAL EMERGING market private equity deal volume rose by 11 percent to $14.1 billion in the first half of 2011, and fundraising doubled to $22.6 billion, the Emerging Markets Private Equity Association said.

BACKED BY powerful companies spending millions of dollars, Washington lobbyists are fighting in the marble corridors of Congress for a tax break on $1.5 trillion in profits held overseas to escape the U.S. tax man.

AUGUST 23

INDIA’S ASK Property Investment Advisors, a real estate-focused private equity firm, aims to raise a 10-billion-rupee ($219 million) fund by December in a bet on the long-term case for property in Asia’s third-largest economy, its top official said.

VECTOR CAPITAL said it has completed the acquisition of Gerber Scientific Inc and CITIC Capital Partners will take a minority stake.

REUTERS INSIDER-James Passin of Firebird Management discusses Mongolia and U.S. Vice President Joe Biden’s visit to the nation, where rapid economic development has caught the eye of investors and other countries.

AUGUST 22

INTERVIEW-GAYATRI PROJECTS expects a stake sale to private equity players in two of its units to raise about $250 million to get delayed to up to December, as the market conditions are not conducive now and funds are not immediately required, a senior company official said.

PRIVATE EQUITY fund Saif Partners has invested $10 million in Gujarat-based juice manufacturing company Manpasand Beverages Ltd for a significant minority stake, according to a statement.

SOUTH KOREAN trading firm Samsung C&T said it was considering taking over independent U.S. oil firm Parallel Petroleum, which a media report said might be worth about $920 million.

ANALYSIS-THE HIRING window is open a crack for the Asian financial sector, keeping opportunities afloat for now while the industry shrinks across the globe.

Commercial and private bankers, mid-office staffers, risk managers and prime brokers are needed. Fund managers and lawyers are in demand as well.

PRIVATE EQUITY firm Bain Capital has clinched a deal to buy Australian accounting software company MYOB for about $1.3 billion, trumping UK’s Sage Group and Kohlberg Kravis Roberts & Co . (Compiled by Stephen Aldred)

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