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SBI Holdings and Jefferies Group will establish a $150m private equity fund focused on the US and a $50m vehicle for investments in Asia.
The global placement agent has launched a platform to help managers raise RMB funds and has hired Eric Gu from China’s National Social Security Fund to lead the effort.
Canada-based China Select Capital Partners has received approval from the municipal government of Suzhou Industrial Park to set up funds denominated in the Chinese currency.
The private equity investment firm has hired Tatsuya Kubo from Fortress Investment Group to head what will it be its second Asian office.
A recent survey foud most LPs plan to increase emerging market commitments, from which most expect net annual returns of more than 16%.
Asian private equity funds compare favourably with global funds across certain parameters such as management fee-offsets and distribution waterfalls.
Despite coming in shy of target, it is the largest fund raised for Asia in the last 18 months.
P Jayendra Nayak is leaving Advent International less than a year after joining the firm to lead the bank's Indian efforts.
The Cairo-headquartered private equity firm recorded net earnings of $38.1m for 2009 on revenues of $79.2m.
Of the $1trn of dry powder available globally, Bain & Co estimates $200bn is allocated to the Asia-Pacific region, which is poised for a strong rebound in PE activity by 2012.