Edelweiss plans to set up stressed asset fund with corpus of up to $1b

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The fund expects to stay invested for six to eight years in each company it will put money in, given the significant amount of time it takes to turn around a distressed asset and nurse it back to financial health.

India: PE firm Multiples in talks to invest $41m in Encube Ethicals

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If the deal goes through, this will be Multiples’s first investment in the pharma sector. The Encube Ethicals investment will come from the PE firm’s $600 million fund, its second, which is currently raising money. From its second fund, the PE firm has already invested in a housing finance company


India: HK fund TR Capital in talks to buy craft beer Bira maker stake

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TR Capital has been in talks with B9 Beverages to buy a minority stake in the company, which intends to use the money to fund the expansion of Bira 91 to new markets both at home and overseas.


Temasek to buy out Singapore rail operator SMRT Corp for $869m

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Temasek owns about 54 percent of SMRT, whose shares have been halted since Friday. SMRT will become a wholly owned subsidiary of Temasek and will be delisted when the deal is completed.


Protean Electric raises $70m from Chinese PE Go Scale, VIE, Tianjin

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Chinese private equity Go Scale Capital, Zhejiang VIE Science & Technology and Tianjin THSG Corporation have led a $70-million equity financing round in the leading in-wheel electric drive systems developer Protean Electric.


Exclusive: Malaysian PE firm CMS Opus makes retail debut, picks 31.5% in MBG Fruits

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The investment into the retail sector is the first for the private equity firm, which has previously focused on the oil & gas sector, engineering and manufacturing companies and a water treatment chemical distributor.


TPG Growth invests $33m in Indian actor Mammootty’s hospital chain

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TPG announced a $33m investment for a significant majority stake in Rhea Healthcare, which operates a network of mother and child care centres in India under the ‘Motherhood’ brand. “This latest investment reinforces our sector focus on healthcare in India and globally,” said Puneet Bhatia, MD and country head for TPG in India.


Khazanah said to mull bid for billionaire Quek’s insurer stakes

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Khazanah is considering an offer for Hong Leong Financial’s 70 percent stake in Hong Leong Assurance Bhd. and its 65 percent holding in Hong Leong MSIG Takaful Bhd., and the bid could be valued at about 3.2 billion ringgit.


Temasek weighing buyout offer of Singapore rail operator SMRT

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Temasek is weighing an offer to buy all the shares it doesn’t already own in SMRT. It currently has a 54 per cent stake in SMRT, which has a market value of about $1.7 billion in Singapore


Singapore: Temasek leads £7m in Series B round in telecom co PureLifi

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pureLifi will use the new capital for development and commercialisation of its proprietary technology.