HONG KONG (Reuters) – A new fund management firm backed by private equity giant Blackstone Group (BX.N: Quote, Profile, Research) aims to raise $500 million to $1 billion for the launch an Asia-focused hedge fund in October, two industry sources told Reuters. The planned launch comes after a tough 2008 for Asia-Pacific hedge funds, which […]
Jeff Richards and Jia Fen Wang have joined GGV Capital as a partner and venture partner, respectively. Richards is the former VP of digital content services with Verisign, while Wang was chairman of Bright Dairy & Food Company in China. PRESS RELEASE GGV Capital, a leader in expansion-stage venture capital investments in the U.S. […]
NEW YORK (Reuters) – Bank of America Corp (BAC.N: Quote, Profile, Research) said on Tuesday it would exercise part of an option to buy shares of China Construction Bank (0939.HK: Quote, Profile, Research), investing HK$14.52 billion (US$1.86 billion) and raising its stake in China's second-largest bank to 10.75 percent. Bank of America, the No. 2 […]
OpenLane Inc., a Menlo Park, Calif.-based online auction company for automotive dealers, has raised $25 million in new VC funding. Meritech Capital Partners led the round, and was joined by return backers August Capital, RPM Ventures and Zilkha Venture Partners. PRESS RELEASE OPENLANE, Inc., the leading online auction company in North America for automotive […]
Pelago, a provider of software that combines smartphone mapping technology with social networking, has raised an undisclosed amount of capital from Kleiner Perkins' iPhone fund, according to BusinessWeek.
Burger King Holdings Inc. Tuesday said three representatives from the private equity funds that own about 32% of the company's outstanding shares will resign. David Bonderman of TPG Capital, Andrew Balson of Bain Capital Partners and Adrian Jones of the Goldman Sachs Funds have resigned, effective June 30. Brian Swette, the company's non-executive chairman, has […]
T-Mobile is believed to have struck a deal to sell part of its Dutch fixed-line broadband internet unit to Ziggo. The unit being sold was part of what it acquired when it bought Orange Netherlands last year. Ziggo has confirmed reports it is interested in the 140,000 customers that receive broadband over cable that T-Mobile […]
Electra Partners has raised Gbp100 million for a new fund to invest in European mid-market companies. The vehicle will co-invest alongside the listed Electra Private Equity Partners, which gives Electra around Gbp1 billion of buying power. www.electrapartners.com
NEW YORK, May 25 (Reuters) – Will it, won't it? If so, when? If not, why not? An entire cottage industry of speculation has built up around the public debut of Facebook, arguably Silicon Valley's hottest Internet company. Mark Zuckerberg, Facebook's founder and chief executive, has remained mum on the social network's IPO plans, except […]
Financial services business Towry Law is reported to be planning to float later this year says The Independent. Towry Law is part-owned by European private equity firm Palamon Capital Partners. The company's CEO Andrew Fisher is believed to want to bring his company to the public markets. Palamon has grown Towry Law through a buy-and-build […]