Yvette Choo

Zhu Lei reportedly plans to establish his own private equity shop and raise RMB9 billion for two RMB-denominated funds.

Srini Vudayagiri was promoted to his current role from managing director less than three months ago. He will depart the firm at the end of May and ‘will continue to be part of the venture capital industry”.

The co-founders of Primus Pacific Partners and an ex-Citi exec have launched Primus Financial Holdings, a ‘successor organisation' with $1bn in permanent capital, to Hong Kong-based firm Primus.

The global buyout firm reportedly increased its bid for the Korean beer producer to more than $1.9bn and accepted terms such as paying a further $100m if the company’s EBITDA tops estimates two years after the sale.

The former venture unit of telecoms giant Nokia had originally targeted $300m for BRV IV. The fund will make most of its investments in the US and China, where it is looking to expand its investment team.

The World Bank’s private investment arm will invest up to 20 percent of VenturEast Life Fund III’s committed capital.

The Kuwaiti-headquartered firm has sold its interest in Reliance Petroleum, generating an IRR of more than 70%.

The investment from Legend Capital, Sequoia Capital China and CCB International will used to expand the company, augment human resources, marketing activities and help R&D.

Chen Fan has left the bank's private equity arm to ‘pursue his own interests’.

Gujarat-based Adani Power had previously withdrawn plans to list in May 2008 as market conditions were not ideal. It was 3i's maiden deal from its 3i India Infrastructure Fund, which closed on $1.2bn in April 2008. Approval for the listing will take at least a month.