Japan’s GPIF picks StepStone as global infrastructure fund-of-funds manager

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GPIF awarded the global infrastructure core strategy mandate to StepStone after launching an RFP in 2017.

GPIF StepStone

China Digest: Liking Fit closes $54m; Shenzhen Capital backs Zelgen

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Smart gym operator Liking Fit has raised $54 million while biopharma firm Zelgen has raised a $62 million Series B.


Capital Group said to eye pre-IPO stake in China’s biotech unicorn Innovent

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Innovent is planning an IPO this year that could raise more than $200 million and has been weighing the U.S. as a listing venue.


Vietnam Dealbook: Dempsey Hill disposes of MWG shares, Vinasugar II to auction 93% stake

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Dempsey Hill Asia Fund has transferred a million shares in Mobile World Investment JSC (MWG) to four foreign funds.


Air India to be split into four separate firms ahead of stake sale

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A successful sale of Air India — with $7.9 billion in debt, five subsidiaries and a joint venture, and a combined workforce of 27,000 — is crucial for Modi.


China’s JD.com said to target $2b fundraising at logistics unit

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JD has invited a select group of investors to join the funding round that values its logistics business at around $10b.


Japan: NEC Corporation acquires Northgate from Cinven in $649m deal

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Northgate develops software and services for the public sector and employs 1,400 engineers in the UK and India.


India Digest: Resurgent front-runner in Jaypee Power bid; Brookfield, I Squared eye NHAI projects

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Jaypee owns 2,200 MW of hydro and coal-fired power generation assets, with Rs 12,000 crore in loans following a debt restructuring.


Co-working space operator naked Hub eyes Australia expansion with Gravity acquisition

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naked Hub plans to open new locations across mainland China, Hong Kong, the Asia-Pacific and Europe.


India: GIC-backed Greenko eyes Essel Infraprojects’ power transmission biz for $1b

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Greenko is planning to enter the transmission business amid low green energy tariffs in India.