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• Warburg Pincus says goodbye to India head 05 Mar 2010. Source: AltAssets. Warburg Pincus, one of the biggest private equity houses in the businesses, is facing a transition as managing director Rajesh Khanna has handed in his notice to “pursue the formation of an independent investment business in India”.

• Denham Capital to sell US coal producer to Essar Group 05 Mar 2010. Source: AltAssets. Energy-focused private equity firm Denham Capital is to sell US coal producer Trinity Coal to Indian conglomerate Essar Group. In a deal valued at $600m, Essar plans to use the coal to service its steel plant and iron ore operations in North America.

• Spring Capital Asia raises $184m, invests in wind tower manufacturer 02 Mar 2010. Source: AltAssets. Spring Capital Asia, a private equity firm investing exclusively in China and Hong Kong, has held a second closing of its debut fund on $184m and tied up an investment in Qingdao Wuxiao Group, a wind and electricity tower manufacturer based in the Shandong Province of mainland China.

• Bain Capital expects to follow suit with China fund 02 Mar 2010. Source: AltAssets. Boston-based buy-out firm Bain Capital may follow its rivals' lead with a yuan-denominated China fund, as major players gravitate to what some are saying will offer the most lucrative market for private equity, according to Reuters.

• UK turnaround investor Endless nets 10.5 times return on DavyMarkham sale 01 Mar 2010. Source: AltAssets. Endless, a turnaround investor in the UK mid-market, has sold its investment in heavy engineering business DavyMarkham to Indian engineering and construction conglomerate IVRCL. While no sale price has been disclosed, Endless made a 10.5 times return on its original investment.

• China Everbright launches 3bn yuan fund to invest in clean energy projects 26 Feb 2010. Source: AltAssets. Hong Kong-based financial conglomerate China Everbright has established a 3bn yuan ($439.4m) venture capital fund to invest in new energy projects, resources and affiliated enterprises.

• Private equity flocks to China 26 Feb 2010. Source: AltAssets. Western private equity investors are continuing to flock to China, attracted by the virtually untapped market despite the challenging regulatory environment.

• PE firms look to shift Asian assets to pay down debt 26 Feb 2010. Source: AltAssets. Private equity firms are putting profitable Asian units up for sale to pay down debts held by their global portfolio companies, according to the Financial Times.

• Secondaries trading platform SecondMarket raises $15m 25 Feb 2010. Source: AltAssets. SecondMarket, an exchange for the purchase and sale of illiquid assets such as private equity fund stakes, has raised $15m in series B financing from the Li Ka Shing Foundation and Temasek Holdings, Singapore’s sovereign wealth fund.

• Aureos Capital relocates staff to Singapore 25 Feb 2010. Source: AltAssets. Aureos Capital, the emerging markets private equity specialist, is moving it several senior executives from London to Singapore, partly because of the UK’s high cost base and rising taxes, according to reports.

• Carlyle partners with Fosun to launch $100m China PE fund 24 Feb 2010. Source: AltAssets. US private equity firm Carlyle is to launch a $100m yuan-denominated private equity fund in partnership with Fosun, China’s largest privately held conglomerate, according to reports. The two signed an agreement in Shanghai today to establish a strategic relationship, through which they will both sponsor and manage the fund, which will target high-growth companies in China.

• Global Environment Fund taps Chinese wind energy market 23 Feb 2010. Source: AltAssets. Clean energy-focused private equity firm Global Environment Fund (GEF) has invested $30m in UPC Renewables to develop wind energy projects in China.

• Religare commences $1bn asset manager buy-up with Northgate Capital purchase 23 Feb 2010. Source: AltAssets. India financial services group Religare Enterprises has acquired a majority stake in US and UK-based fund of funds investor Northgate Capital. Reportedly valued at $36m, the deal is the opening salvo in a $1bn spending programme Religare is planning that will see the group invest in asset management firms across the globe.

• KKR, TPG team up to take CICC off Morgan Stanley’s hands 23 Feb 2010. Source: AltAssets. US buy-out groups KKR and TPG are close to acquiring Morgan Stanley’s $1bn stake in China International Capital Corp, according to reports.

• ADB set to raise $100m in venture capital for renewable energy investments 19 Feb 2010. Source: AltAssets. The Asian Development Bank (ADB) said it is looking to raise a minimum of $100m more in venture capital to invest in advanced renewable energy firms, according to reports.

• Carlyle-backed Japanese telecoms company Willcom files for bankruptcy 18 Feb 2010. Source: AltAssets. Carlyle’s majority stake in Japanese wireless communications company Willcom may be wiped out as the company files for bankruptcy. The company, reportedly 60 per cent owned by the US private equity firm, said it had liabilities of 206bn yen ($2.2bn), capital of 5bn yen ($55m), and had been unable to come to an agreement on debt repayments with main creditors Mitsubishi UFJ Financial Group and Mizuho Financial Group.

• China Investment Corp agrees to invest $1.5bn in secondary market 18 Feb 2010. Source: AltAssets. Sovereign wealth fund China Investment Corp will invest $1.5bn in private equity secondaries with three of the biggest specialists in buying second-hand fund interests, according to the Financial Times.

• Actis takes stake in business outsourcing company Integreon for $50m 17 Feb 2010. Source: AltAssets. Actis, an emerging markets private equity investor, has taken a “substantial minority stake” in Integreon, a provider of legal support, research and business services to law firms, financial institutions and corporations.

• 3i CEO targets Indian infrastructure 15 Feb 2010. Source: AltAssets. UK private equity firm 3i is setting its sights on Indian infrastructure as the next source of flagship private equity returns, according to CEO Michael Queen. Speaking at the Super Return conference in Berlin, Queen reportedly claimed that the amount of investment necessary to address India’s infrastructure deficit could provide huge returns for the private equity industry.

• Lone Star to offload Korea Exchange Bank in next six months 11 Feb 2010. Source: AltAssets. Dallas-based buy-out house Lone Star Funds intends to sell its majority stake in Korea Exchange Bank in the next six months, Reuters reports, following a high court ruling that the bank's sale price was not unlawfully manipulated when the private equity firm took ownership.

• Chinese bank to raise $500m for private equity fund 10 Feb 2010. Source: AltAssets. The investment banking and securities arm of one of China’s biggest lenders is looking to raise a China-focused private equity fund, according to reports. The BOCOM International division of Bank of Communications, China’s fifth-largest lender, is reportedly looking to raise between $250m and $500m for its debut private equity fund.

• Accel Partners India gains principal 09 Feb 2010. Source: AltAssets. Anand Daniel, previously of Boston-based venture capital firm Flybridge Capital Partners, has left the US to return to India. He is now with Accel Partners as a principal, according to reports.

• CITIC Capital raises $925m for second Chinese buy-out fund 08 Feb 2010. Source: AltAssets. Private equity house CITIC Capital Partners - a division of China’s leading financial conglomerate, CITIC Group – has closed its second China buy-out fund on $925m.