Carmela Mendoza
Carmela Mendoza is a senior reporter for Private Equity International based in London. She first joined PEI in Hong Kong in 2015 and covered Asia. A graduate of Ateneo de Manila University, she previously worked for a digital agency in Singapore focused on government websites and publications covering business, trade and industry, transport, and social development.
The firm’s acquisition of Avendus Capital, which owns Avendus PE Investment Advisors, will help scale up the merchant bank and fund its credit solutions business.
The Indian firm’s current fund is three-quarters invested in India-based healthcare and life sciences companies.
First Avenue has recently opened an office in Hong Kong and appointed former Park Hill Group managing director, Michael Henningsen, as partner to lead its operations, according to a statement.
The firm began marketing its SEAF India Agribusiness International Fund II in September targeting $150 million. The fund will invest $20 million to $25 million in small and medium enterprises, including food supply and other agribusinesses in India.
Southeast Asia and India focused private equity firm Creador has made a partial exit from its investment in financial services provider Cholamandalam generating an internal rate of return of 33 percent.
Over the last three years, investments from Asian sovereign wealth funds amount to more than 50 percent of the firm’s SWF commitments. The private equity giant is receiving more commitments from SWFs than historically it has ever done, Carlyle co-founder David Rubenstein said during the firm’s third quarter earnings call.
The Hong Kong and Singapore-based firm, which targets mid-market companies in China, Hong Kong, Taiwan and Singapore, has hired former Prometheus partner Brian Lau as executive director.
.jpg "KKR partners with Chernin Group in Asia media platform")
KKR’s capital for the investment comes from KKR Asian Fund II.