Hsiang-Ching Tseng
Government-backed private equity firm China Media Capital has agreed its first deal, reportedly valued at around $160m.
The US-headquartered gatekeeper and fund of funds manager is looking to source new managers in the Asia-Pacific region and expand its client base. It has based itself in Hong Kong.
The mature technology investor will pay $124m for a controlling stake in digital marketing company Allyes.
The global private equity firm has raised almost half of its target for the Carlyle Beijing RMB fund.
China's National Social Security Fund is backing IDG Capital Partners' Harmony Growth Fund, which is reportedly targeting commitments of RMB3.5bn.
The Steve Schwarzman-led firm, which is targeting about $738m for its debut RMB fund, expects a final close by September.
Dhiraj Poddar will bring the Mumbai-based investment team at the US mid-market firm to four.
The Asia-focused fund of funds manager reached its fundraising target.
In sharp contrast to Western markets, an overwhelming majority of venture capitalists in China, India and Brazil expect the number of venture capital firms in their respective countries to increase between now and 2015.
KKR will for the first time raise a country-specific fund, which has a target of around $1bn.