Jennifer Harris

The alleged cover-up of poor performance at portfolio companies Freescale and FGIC are the main claims of the plaintiff, represented by a law firm that is filing a number of similar suits against major financial services firms.

The China Securities Regulatory Commission has taken steps to give the country’s securities firms access to the private equity market, as China continues to formalise its regulation of domestic private equity.

The China-focussed venture firm has brought on John Wu, formerly of Alibaba Group and Yahoo!, as a venture partner.

The chairman of China’s largest life insurer wants the government to allow insurers to make private equity-style investments as well as invest in private equity funds.

Chicago-based Baird has had a China team since 2003 to assist its US portfolio companies, but the firm has now added has seven professionals who will invest in small, high-growth Chinese companies.

New York asset manager Octavian Advisors has hired distressed debt specialists Arif Gangat and Oscar Mockridge as it expands its practice to take advantage of debt market turmoil.

Aureos Capital has made its first investment out of its current Latin America fund, which is targeting a $300 million final close in June.

Mellon Ventures’ successor firm Navigation Capital, along with limited partner Goldman Sachs, is looking to capitalise on an untapped niche in the specialty finance industry.

The middle market vehicle easily passed its $2.5 billion target, and more than triples Jordan’s capital under management.

GSO Capital Partners, newly part of The Blackstone Group, has agreed to pay a $21 million breakup fee to Reddy Ice after credit market conditions gave GSO’s lenders cold feet.