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Private equity and venture capital news from China

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• Silver Lake in second China play with Allyes acquisition 02 Aug 2010. Source: AltAssets. Silver Lake Partners, a private equity outfit that specialises in technology and tech-related investments, has made its second China play, taking a majority stake in internet advertising firm Allyes Online Media.

• Carlyle raises half of 5bn yuan fund 30 Jul 2010. Source: AltAssets. Global buy-out house Carlyle has reached the first close of its maiden yuan-denominated fund, having raised 2.4bn yuan ($354.2m) of its 5bn yuan ($738m) target, and will now start putting the capital to work.

• NSSF primed to make foreign PE investments 29 Jul 2010. Source: AltAssets. National Social Security Fund, China’s 700bn yuan ($103.3bn) national pension fund, will soon begin making investments in private equity overseas, according to Reuters.

• Hong Kong’s SAIF Partners picks up juice company from Danone for €200m 29 Jul 2010. Source: AltAssets. SAIF Partners, a Hong Kong-based private equity firm, has entered an agreement to buy a 22.98 per cent share of juice-maker China Huiyuan Juice from France’s Danone for €200m.

• Terra Firma’s Guy Hands looks to China for partners 28 Jul 2010. Source: AltAssets. Guys Hands, the private equity mogul behind the UK’s Terra Firma who spearheaded the ill-fated buy-out of record label EMI, has said that he expects China to dominate over the coming decades and is seeking Chinese partners.

• Orchid targets $600m with new fund 23 Jul 2010. Source: AltAssets. China-focused private equity firm Orchid Asia Group Management has launched its fifth fund, Orchid Asia V, with a target of $600m.

• Baring Private Equity Asia lines up $1.75bn fund 16 Jul 2010. Source: AltAssets. Baring Private Equity Asia is set to start fundraising for a new $1.75bn Asia-specific fund to add to the $2.5bn it already has under management, according to the Wall Street Journal.

• KKR to raise $800m China fund, acquires UK music publishing business 15 Jul 2010. Source: AltAssets. Newly listed US private equity firm KKR is looking to raise $800m to invest in China, according to Bloomberg.

• Cleantech venture investment nearly doubles in 2009 09 Jul 2010. Source: AltAssets. Clean technology venture investments in the US, Europe and China for the second quarter of 2010 were nearly double that of the same period of 2009, according to new research from financial giant Deloitte & Touche.

• Blackstone takes $45m stake in China Animal Healthcare 05 Jul 2010. Source: AltAssets. US private equity firm Blackstone has continued its drive into China with a $45m investment in China Animal Healthcare, a leading company in the animal drugs industry.

• Carlyle invests $190m in China Fishery 30 Jun 2010. Source: AltAssets. Carlyle is set to take a $190m stake in Singapore-listed industrial fishery company China Fishery Group through a private placement.

• Origo takes stake in plastics recycler Jinan Eco-Energy Technology 25 Jun 2010. Source: AltAssets. China-focused private equity player Origo Partners has invested up to $6.65m for a 20 per cent stake in Jinan Eco-Energy Technology, a provider and operator of recycling systems for waste plastic and scrap tyres.

• Prudent Energy adds $10m to Series C round 22 Jun 2010. Source: AltAssets. Prudent Energy, a clean energy storage company that has offices in both North America and China, has added another $10m in venture capital funding to top off its oversubscribed Series C round.

• Heinz acquires PE-backed Chinese soy sauce producer Foodstar 22 Jun 2010. Source: AltAssets. US condiment giant HJ Heinz is to pick up Chinese soy sauce producer Foodstar from Transpac Industrial Holdings, a private equity holding company, and various Transpac funds.

• Origo hopes for £20m fundraise with new share issue 11 Jun 2010. Source: AltAssets. Origo Partners, a private equity fund listed on the London Stock Exchange’s AIM bourse, has drummed up a further £20m (€24.2m) for investments in a number of “well-advanced” opportunities in China’s cleantech and agriculture sectors.

• TPG eyes China tech sectors 09 Jun 2010. Source: AltAssets. US buy-out house TPG Capital sees opportunities in the technology space in China, one if its top dealmakers told Reuters.

• Carlyle invests $140m in four Asian deals 08 Jun 2010. Source: AltAssets. New York private equity firm Carlyle has continued its push into Asia with four growth deals across the continent.

• TPG’s main man in China to launch own fund 02 Jun 2010. Source: AltAssets. TPG Capital’s chief rainmaker in China, Weijian Shan, is leaving the US buy-out group as a partner to pursue his own pan-Asian private equity fund, according to the Financial Times.

• Blackberry in $100m China mobile fund joint venture 28 May 2010. Source: AltAssets. Blackberry Partners, a mobile telecoms-focused venture fund backed by Blackberry producer Research in Motion, has partnered with Chinese private equity and venture capital firm China Broadband Capital Partners (CBC) to launch a $100m fund targeting mobile investment opportunities in the region.

• CICC plans $300m Chinese private equity fund 27 May 2010. Source: AltAssets. China International Capital Corp (CICC), the biggest investment bank in the country, has its sights set on the domestic private equity market with a planned $300m fund to be raised in September, according to Reuters.

• TPG makes huge return on Ping An exit 14 May 2010. Source: AltAssets. US buy-out firm TPG has raised $1.25bn by selling around half of its stake in China’s Ping An Insurance, a spur for western rivals looking at tapping the country, widely perceived as harbouring an aversion to foreign investment.

• SAIF nears $1bn close, plans yuan fund 13 May 2010. Source: AltAssets. SAIF Partners, an Asia-focused private equity firm, is nearing a $1bn close of a new fund and plans to raise the largest ever yuan fund in the second half of this year, according to Reuters.

• Darby makes mezz investment in China skincare group 12 May 2010. Source: AltAssets. Darby Overseas Investments, the private equity arm of US investment firm Franklin Templeton Investments, has backed Water Oasis Group, a skincare and beauty group listed in Hong Kong.