Latest news from the Asian Investment Managers website
22 Aug 2012
Singapore's GIC may have upper hand in luxury-hotel row
The Government of Singapore Investment Corp. (GIC) may have gained the upper hand in a protracted tussle with two United States funds over four luxury resorts. GIC, a major creditor to the properties, filed documents in New York's federal bankruptcy court last week charging that hedge fund Paulson & Co and Winthrop Realty Trust missed an interest payment on the debt.
Carlyle, China PE firms bid $3.5bn for Focus Media
Carlyle, FountainVest Partners, CITIC Capital Partners, CDH and China Everbright are backing a proposed $3.5bn delisting of display-advertising firm Focus Media Holding Ltd , working with the company's chief executive. Private equity funds have been picking over hundreds of China firms listed in the United States, looking for viable takeover targets, but until now the deals have all been below $1bn, largely because of difficulties getting financial backing.
SEBI allows hedge funds, other alternative funds to operate
The Securities and Exchange Board of India (SEBI) has allowed seven alternative investment funds to set shop in the country under a newly formulated route, which allows pooling of funds for investments in areas like real estate, private equity and hedge funds. The approval has been given in a period of less than one month, as per the information available with the market regulator.
Japan mutual funds see slower inflows as shares dip
Net inflows into Japanese mutual funds slowed in July as declines in Tokyo stock prices and a firmer yen made investors more cautious, an industry body said on Monday. Net buying of investment trust funds, a type of mutual fund known as toushin among investors, totalled 49.5bn yen ($633m) in July, less than a fifth of the total net purchases in the previous month, the Investment Trusts Association said.
For your regular weekly digest of fund industry news, links to more than 50 new stories every week can be found on the Asian Investment Managers Guide website. For access to the full list of stories, click the link below: http://www.funds-asia.com/industrynew.php
Author: Richard Newell