Only the good prevail as LPs appear wary of China funds; investors continue to seek technology start-up exposure but the check sizes are falling; Korea delivers exits, but other markets fail to shine
The Blackstone Group has agreed to buy a majority stake in Indian IT services provider Mphasis from Hewlett Packard for up to INR70 billion ($1.1 billion).
CMC Capital Partners and FountainVest Partners have made a partial exit from IMAX China after agreeing to an extended lock-up period for the rest of their shares.
Hony Capital, CITIC Private Equity and Sequoia Capital are set to exit Happigo Home Shopping, a Shenzhen-listed online and TV shopping subsidiary of Hunan TV.
CDH Investments has made a full exit from Hong Kong-listed Beijing Digital Telecom (BDT), one of China’s largest mobile retail chains, raising HK$366.93 million ($47 million).
Warburg Pincus has generated $425.7 million by selling an approximately 16% interest in US-listed biopharmaceuticals developer China Biologic Products.
Canada Pension Plan Investment Board (CPPIB) has invested INR11.5 billion ($170 million) in India's Kotak Mahindra Bank, picking up a stake held by Japan's Sumitomo Mitsui Banking Corporation.
California Public Employees' Retirement System (CalPERS) has sold a stake in India’s Axis Bank worth about INR8.7 billion ($127 million) to Genesis Indian Investment Company.
KKR has agreed to sell its stake in India's Dalmia Cement Bharat (DCBL) for INR6 billion ($89 million) to the parent company Dalmia Bharat (DBL), and to invest INR6.2 billion in DBL itself.