Siddharth Poddar

Affinity Equity Partners, MBK, Bain, Carlyle and KKR have reportedly submitted bids for Oriental Brewery, Korea’s second largest brewer, in a deal that could be worth more than $2bn.

The US buyout firm is reportedly closing its office in Hong Kong. Its plans for its Taipei and Beijing offices remain unclear.

The Seoul-based private equity and secondaries fund manager has exited its investment in Medy-Tox, generating a net IRR of 33.2% in two years.

Dubai International Capital and financial services company Dubai Group are consolidating back office operations under Dubai Holding Investment Group.

The Singapore-based firm will reportedly work with Indonesia’s Ministry of Finance to raise $250m for water treatment and renewable energy projects throughout Indonesia. Ant Global is also raising a $400m direct secondaries fund for Japanese and Taiwanese deals.

Led by Rajesh Narayan, the former India head of specialist finance at ANZ Investment Bank, the India Rizing Fund will focus on defence-related SMEs in India.

Navis Capital has been approached by potential buyers for the purchase of the Indian fast food chain it acquired in June 2006.

The Abu Dhabi Commercial Bank and Macquarie joint infrastructure fund's investment will help support infrastructure developments commissioned by the Abu Dhabi government. The fund has raised more than half of its $1bn target.

CLSA Capital Partners' mezzanine management arm has led a consortium of investors including AXA Private Equity in financing the privatisation of Midsouth Holdings.

As emerging Asian economies struggle with declining exports and an economic slowdown, private equity firms risk some fallout, writes Siddharth Poddar.