Hsiang-Ching Tseng

The first of what will be a quarterly performance index shows private equity performing strongly against listed markets.

Sean Tong has added his name to the ever-growing list of Chinese nationals leaving Western private equity groups’ Asia operations to strike out on their own.

The global banking giant has held a first close on $31m for its fourth Asian FoF, which has a target of $150m.

The firm is ‘seriously considering’ offering investors a choice between lower management fees or lower carry, sources have confirmed.

CDH, Sequoia, Highland Capital and Redpoint Ventures are among the firms that invested around $39 million in the Chinese internet company.

The firm’s chairman, currently fighting allegations of insider trading, has taken an indefinite leave of absence from the private equity firm he co-founded five years ago.

The global mid-market firm has said a dedicated Japan office and fund aren't viable given insufficient deal volume, and will instead focus on opportunities in China and other emerging Asian countries.

The duo will gain exposure to India's largest motorcycle maker, Hero Honda, having teamed up to finance Hero Investment's $852m acquisition of Honda’s stake in the company.

After months of investigation, the India- and MENA-focused firm’s chairman and co-founder has been charged with allegedly providing confidential information to Raj Rajaratnam, founder of hedge fund Galleon.

Thirty-five LPs have already committed to the second fund being raised by Mark 'Goldfinger' McGoldrick, former head of the special situations group for Goldman Sachs.