KKR ties up with COAMI, COS-Capital to co-invest in Chinese credit & distressed assets


Private equity fund KKR & Co. said that it has tied up with a large state-owned asset manager and a local investment manager in China to co-invest in credit and distressed opportunities in the country.

Alibaba to pay $1.25b for controlling stake in Ele.me, deal values Chinese food startup at $4.5b

China’s Ele.me, a food-delivery startup backed by Tencent Holdings Ltd., plans to close a funding round of at least $1.25 billion by as early as mid-February in a deal led by competitor Alibaba Group Holding Ltd., according to people with direct knowledge of the matter. Alibaba will be Ele.me’s controlling shareholder after the… Read more »

HKEx launches new intiatives to encourage foreign listings

Hong Kong Exchanges and Clearing (HKEx) will launch new initiatives including an onshore China commodities platform and a way for foreign companies to list via the Hong Kong-Shanghai Stock Connect program, HKEx Chief Executive Charles Li said on Thursday. The initiatives will be launched between 2016 and 2018, Li said,… Read more »

China’s Principle Capital may land $30m IFC investment for its new $350m PE fund

The move marks IFC’s third such equity commitment in China’s private equity space in less than two months.

China set to develop its own digital currency

China’s central bank wants to launch its own digital currencies to cut the costs of circulating traditional paper money and boost policymakers’ control of money supply, the People’s Bank of China (PBOC) said on Wednesday. A PBOC research team set up in 2014 to look into digital currencies should make… Read more »

Baidu chasing deals in super computing to keep pace with online services growth

Baidu Inc. is pursuing acquisitions and boosting investments in super computing as China’s largest search-engine operator tries to gain an edge in the nation’s burgeoning online consumer market. Baidu, which has announced more than $2.7 billion worth of deals during the past two years, is ready to do more, President… Read more »

IFC may inject $15m in China’s Sinovation Fund

Headed by noted technology sector veteran Dr Kai Fu Lee, Sinovation Fund will target early stage TMT companies in China, and comes at a time when the country is transitioning from an economy focussed on manufacturing to one led by innovation and technology.

China’s Cocoon Networks to launch $720m fund to invest in European tech startups

Cocoon is backed by private equity investor China Equity Group, which was an early investor in the country’s biggest search engine Baidu, and Hanxin Capital. The fund will invest in companies which have products and services that can be successful in the Chinese market.

China finalises plans to merge 40 entities to form $22b plane-engine company

China is eager to develop its own engine to power its planes, and also is keen to push its economy from labor-intensive work into more sophisticated sectors. The plan to merge engine assets, is part of the government’s efforts to streamline the state-owned sector while creating companies that are globally competitive.

Chinese deals firm Meituan-Dianping raises $3.3b in largest VC round in internet startups

Despite the merger of Meituan-Dianping in 2015, how the funds will be disbursed amongst the two, which still operate as different brands, is unclear. The company was formed in October 2015 when Meituan, backed by Alibaba, and Dianping, backed by Tencent Holdings Ltd, merged.