By Takako Taniguchi
Asahi Group Holdings Ltd., which holds 10 percent of Orion, would remain a shareholder
The fifth fund follows its predecessor CVC Asia Fund IV that had raised $3.5 billion in May 2014
North Asian buyout firm MBK Partners and Marunouchi Capital were also shortlisted to proceed to the next round of bidding.
In March 2018, iKang first announced a $1.4-billion going private transaction led by Yunfeng Capital and Alibaba.
The country filed criminal charges against the lender in December, the first for Goldman, and may discuss dropping those allegations if the bank pays the sum.
IIFL plans to deploy the fund over the next three years and is looking to build a portfolio of around a dozen investments.
Chinese millionaires are increasingly looking to set up offshore structures to protect their fortunes from the mainland’s newly toughened tax regime.
The fintech company was earlier backed by Goldman Sachs and Standard Chartered Private Equity in its Series A and B rounds.
The key is to make a move and be in the under-served markets in Southeast Asia “before other institutional investors come in,” according to Jimmy Phua, Managing Director, Head of Real Estate Investment Asia at CPPIB.
India’s banks led by State Bank of India is seeking to off load stressed assets as they seek to clean up loan books and revive lending.