Siddharth Poddar

Temasek Holdings has divested its stake in Bank of America, as it seeks to reduce its exposure to OECD economies.

Junichi Shiroshita has left the firm to join Bank of America’s investment banking business in Japan.

The Japanese financial services conglomerate has offered ¥3.4bn. for the outstanding shares of Daiwa SMBC Capital, a listed principal investment firm in which it owns a 47% stake.

Japan's Shinsei and Aozora banks, in which JC Flowers and Cerberus Capital Management hold major stakes respectively, are reported to be nearing a union.

Pantheon Ventures, one of the earliest fund of funds entrants in the Asian market, has hired Brian Lim from UK government-backed CDC Group. Lim will join the firm's Hong Kong-based team, currently investing an $800m Asian fund of funds.

A reported 6% stake sale by Bank of America in China Construction Bank has allowed Temasek to increase its 5.6% stake. For Hopu, it marks its second investment in a Chinese bank this year.

The firm has launched its second institutional fund in partnership with Shandong High-Tech Investment Corporation. The fund will target investments in tech companies in Shandong province.

Kuwait Finance House and Cyprus’ SFS Group have teamed to launch a $150m sharia-compliant private equity fund focused on shipping.

The global buyout firm has moved Nathaniel Taylor from its Menlo Park office to Mumbai, where it established an office in January.

Venture capital investments in Israeli high-tech companies fell from $617 million in the first quarter of 2008 to $265 million in the first three months of 2009, making it the slowest quarter in the last three years.