Tag: blackstone

The $2.15 billion sale of the Taiwanese insurer gives AIG additional cash to pay back the US government, while Primus gets a start in the insurance industry. Shanghai attracts global private equity with First Eastern announcing domestic private equity funds worth Rmb6 billion, while Blackstone intends to raise Rmb5 billion. The high-yield and leveraged-finance banker returns to the sell-side after GSO Capital pulls the plug on the Asia business he was meant to spearhead. The private equity firm poaches Philip Levinson from Deutsche Asset Management to manage relationships with investors in the Asia-Pacific. The US insurance giant confirms its intentions to spin off its Asian life insurance operations and sends out RFPs to a number of investment banks seeking arrangers for an IPO. Cisco, IBM and Blackstone take about 45% of the $242 million deal which featured CICC as the sole bookrunner. The US private equity firm will pay up to $600 million for a 20% stake in specialty chemical company Bluestar. It also gains two board seats. The buyout firm announces its second India deal in a fortnight, investing $150 million for a 14.5% stake in Nagarjuna Construction. The private equity firm acquires control of leading garment manufacturer, Gokaldas Exports, in its fourth Indian deal. Blackstone acquires the Indian business process outsourcing company from HDFC and Barclays, valuing the target at around $200 million. The Australian mining services company rejects a A$10 billion bid by Bain, Blackstone, PEP and Morgan Stanley. The US private equity firm hires Amit Dixit from Warburg Pincus in New York to beef up its India team. The private-equity firm acquires a 26% stake in Ushodaya Enterprises for $275 million. The private-equity group expands in Asia-Pacific with new hire Antony Leung, former financial secretary of Hong Kong. Blackstone closes world's largest private equity fund and announces Indian pharmaceutical investment.