TPG enters PE secondaries market with stake in Asia-Focused NewQuest

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TPG is investing in Hong Kong-based NewQuest with its balance sheet — not via a fund — and NewQuest will continue to operate independently.

Hong Kong

PE firm Abraaj seeks deal on secured debt, Kuwaiti fund holds out

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Most of the creditors have agreed to a standstill, which would see Abraaj’s debt frozen for around 90 to 120 days, estimating the buyout firm’s total debt at around $1 billion.


KKR’s Kravis says Japan ripe for dealmaking, wants to buy dispensable units

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In a sign of the region’s importance to KKR, Joseph Bae was named co-president last year after leading the company’s push into Asia a decade ago.


India’s pile of $210b bad debt lures global fund managers chasing returns

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Canada’s CDPQ, Hong Kong-based SSG Capital Management Ltd, Oaktree Capital and Varde Partners are keen to participate in the fledgling market.


Vietnam: Mekong Capital announces investment in Vua Nem JSC

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The deal marks the seventh investment by Mekong Enterprise Fund III that was launched in 2015. 


IFC proposes $25m investment in Apis Partners’ second fund

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Apis Growth Fund II has a total committed capital target size of $400 million, with a $500-million hard cap.


Exclusive: Frontline Strategy to set up lifestyle-focused incubator in India

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Having already identified and shortlisted a couple of companies, the incubator is likely to start operations in the next few months.


Singapore’s GIC divests entire stake in Vietnamese taxi firm Vinasun

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In a disclosure to Ho Chi Minh City Stock Exchange, GIC said it sold all the 5.4 million shares, equivalent to a 7.96 per cent stake, it held in Vinasun on May 25.


Warburg Pincus acquires Legal & General’s 26% stake in IndiaFirst Life

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IndiaFirst is a JV between Bank of Baroda (44%), Andhra Bank (30%) and Legal & General (26%).


Colony NorthStar walks away from talks to buy stake in Abraaj fund unit

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Cerberus Capital Management is said to be still in discussions with Abraaj for buying a stake in its fund management unit and is carrying out its own due diligence.