Singapore's sovereign wealth fund GIC was named as British Land's new partner in London's Broadgate office and retail complex on Tuesday, buying out U.S. private equity group Blackstone for around 1.7 billion pounds.
Finance/Venture
Venture capital firms pour money into India's niche e-commerce companies
Venture capital firms have supported niche e-commerce firms in India like CarDekho.com and Lenskart because they are profitable but require less capital, The Financial Express reported.
Japan prepares to unveil Japanese Stewardship Code- sources
Sources said Japan is preparing to introduce guidelines for institutional investors known as the Japanese Stewardship Code, which would improve returns, transparency and corporate governance, Reuters reported.
Local private equity in South Korea rises against foreign competition
Financial data from Mergermarket indicated an increasing influence of local buyout firms in South Korea, thanks largely to the support of the national government by relaxing regulations, a Financial Times report said.
American Bankers Association challenges Volcker Rule
The American Bankers Association, a group that represents mostly community banks, has filed a complaint challenging the final version of the Volcker Rule, Bloomberg reported.
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Dubai Islamic Bank said on Wednesday it would increase its foreign ownership limit to 25 percent from 15 percent.
Italian insurer Unipol said it had received an offer to buy the insurance business with 1.7 billion euros ($2.3 billion) worth of premiums which it must sell to meet conditions set by the local competition watchdog to clear its merger with peer Fondiaria-SAI.
Title insurer Fidelity National Financial will sell a number of its databases to meet U.S. charges its proposed $2.9 billion acquisition of Lender Processing Services Inc hurt competition, the Federal Trade Commission said on Tuesday.
Private equity company KKR & Co LP said on Tuesday it had raised a $1.5 billion real estate fund, its first dedicated investment pool for the asset class, which is rebounding in the United States amid a modest economic recovery.
Asian markets took cheer on Tuesday after Wall Street rang up more records and upbeat U.S. spending data burnished the outlook for the global economy, with Japan's Nikkei hitting a 2013 high after Tokyo markets opened after a holiday.
The American bankers Association on Monday said it would mount a legal challenge to the "Volcker rule" unless U.S. banking regulators softened a provision of the rule that restricts bank ownership of certain investments.
Morgan Stanley is selling its Indian mutual fund assets to a joint venture between India's HDFC and Britain's Standard Life, becoming the latest foreign asset manager to quit India.
Lond-based private equity firm CapVest has bought Scandza, a Nordic consumer food and beverage firm for an undisclosed amount. Jan Bodd and Stig Sunde, who founded Scandza in 2007 will still lead the company.
Samruk-Kazyna, Kazakhstan's sovereign wealth fund, on Monday struck a deal to sell equal-sized stakes in its BTA Bank. Its holding in the country's third-biggest bank will be sold to Kazkommertsbank and businessman Kenes Rakishev for an undisclosed sum.
