Standard Chartered has acquired the custodial and trustee operations of Absa in South Africa. (Corrects paragraph 2 to 'immaterial' instead of 'material') In an announcement, Standard Chartered would be acquiring Absa Group, the South African custodial and trustee operations of Barclays Plc.
Finance/Venture
ING Sells Shares to JV Partner
ING sells shares in KB Life to JV partner. ING Groep NV, the Dutch bank and insurance group announced that it had agreed to sell its 49% shareholdings in KB Life, the Korean insurance company.
Saban Capital Opened Office in Singapore
Saban Capital Group opens its Saban Capital Group Asia subsidiary. In an announcement, leading global media and communications investment firm Saban Capital Group disclosed that its fully owned subsidiary Saban Capital Group (Asia) Pte Ltd.
Silver Lake Unveils New Fund
Silver Lake Partners have completed Silver Lake Partner IV fund worth US$10.3 billion. Silver Lake Partners, the partner of Michael Dell in the privatization bid for Dell Inc worth US$24.
UBS banker leaves for the Blackstone Group
UBS banker, also a vice chairman at UBS is leaving for Blackstone Group. According to two anonymous sources familiar with the move, the global head of industrial investment banking of UBS has resigned from the bank to join the advisory business of The Blackstone Group.
Latest News
Despite assurances by the Egyptian PM, there is still no approval as to the EFG-QInvest merger. The Middle East's largest investment bank, EFG-Hermes has been awaiting notice from Egypt's financial regulator for the approval of its merger with QInvest of Qatar.
The ISAM Fund SICAV-SIF was established by arc AM and RVC InfraFund for the purpose of investing in companies that have potential for international growth.
HgCapital closed HgCapital 7 with a hard cap of GBP2 billion. In announcement, HgCapital said that April 15, 2013 would be the final closing of its newest private equity fund HgCapital 7.
Pine Tree raises nearly US$100 million in new capital funding. The Miami, Florida based private equity firm Pine Tree Equity III, LP disclosed to the public that it was able to close a US$100 million third private investment fund in April 2013.
Woodbridge opens its India office amidst its cross border successes. Woodbridge International, a middle-market merger and acquisition firm, has announced the opening of its Pune, India headquarters.
Tengram Capital Partners has raised US$173 million in commitments, more than its original US$150 million target.
Dai Xianglong of the National Social Security Fund recommends state controlled enterprises In a quote of the National Social Security Fund council's party secretary, he is proposing that Chinese state-owned enterprises transfer 30% of their capital gains and ownership shares exceeding 51% to the fund.
Bain Capital LLC's Capital Fund XI is in the process of finalizing its subscriptions from investors.
In a statement, Canadian asset manager Gluskin Sheff + Associates have taken off the for sale sign for the meantime.
