Author: Deal Street Asia Online News

Tech stocks in Asia wobble on deepening Sino-US chip warAmong the worst hit in Asia were shares of Taiwan Semiconductor Manufacturing Co, the world’s …

Chip stocks in Asia tumbled on Thursday while their European counterparts got off to a tentative start after a news report that the United States was considering tighter curbs on exports of advanced semiconductor technology to China. Among the worst hit in Asia were shares of Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, which has… Continue reading Tech stocks in Asia wobble on deepening Sino-US chip warAmong the worst hit in Asia were shares of Taiwan Semiconductor Manufacturing Co, the world’s …

Blackstone posts modest Q2 profit jump on private equity, credit gains

Blackstone said on Thursday its second-quarter distributable earnings rose 3% from a year earlier, as a jump in asset sales in its private equity and credit divisions more than offset a slump in its real estate arm. The New York-based investment firm’s results underscore how a long spell of high interest rates has dragged down… Continue reading Blackstone posts modest Q2 profit jump on private equity, credit gains

PE major EQT to launch ninth Asia buyout fund as market normalisesThe predecessor fund, BPEA VIII, had raised over $11b in 2022.

Stockholm-based investment house EQT Group said it will formally launch its next Asia buyout fund in mid-August, as its current Asia vehicle is around 70% invested. The ninth BPEA EQT fund will, therefore, be activated in H1 2025, said Gustav Segerberg, EQT’s head of business development, at the firm’s half-year report announcement on Thursday. While… Continue reading PE major EQT to launch ninth Asia buyout fund as market normalisesThe predecessor fund, BPEA VIII, had raised over $11b in 2022.

India Digest: Newme, Lenskart raise funding

Clothing brand Newme has raked in $18 million in Series A funding, while ChrysCapital-backed eyewear retailer Lenskart has raised close to $20 million from its co-founders. Newme raises $18m in Series A round India’s Newme, which sells its own brand of clothing, has raked in $18 million in a Series A funding round led by… Continue reading India Digest: Newme, Lenskart raise funding

Hit by client exits, PwC to slash China partners’ pay by up to 50%

PricewaterhouseCoopers (PwC) has asked its China-based partners to take a pay cut of up to 50%, two people with knowledge of the matter said, as a regulatory probe into the firm and departure of some of its corporate clients prompt cost cuts and layoffs. Chinese authorities have been probing PwC‘s role in auditing China Evergrande Group after the securities regulator accused the… Continue reading Hit by client exits, PwC to slash China partners’ pay by up to 50%

Apax, Bain and CVC said to be weighing bids for Swiss firm SoftwareOne

Apax Partners, Bain Capital and CVC are each exploring potential bids for SoftwareOne, two people with knowledge of the situation said, three months after the ouster of the Swiss software company’s board. Talks with interested funds are ongoing, one of the people said. Four sources mentioned Bain and CVC and two of them also named Apax. SoftwareOne‘s board was ousted in April after it rejected a 2.9 billion Swiss franc ($3.27 billion) takeover offer… Continue reading Apax, Bain and CVC said to be weighing bids for Swiss firm SoftwareOne

Australian BNPL firm Zip surges on $146.2m financing, promise to pay down debt

Shares in buy-now-pay-later firm Zip rose more than 13% on Thursday after it said it had raised A$217 million ($146.19 million) in equity placement, letting the company pay down its corporate debts early. Zip completed a fully underwritten private placement of A$1.56 a piece and said it will issue a non-underwritten share purchase plan which… Continue reading Australian BNPL firm Zip surges on $146.2m financing, promise to pay down debt

India Digest: Seeds Fincap, Boon, Corvi LED raise fundsSeeds Fincap has raised over $8.5m.

Non-Banking Financial Company (NBFC) Seeds Fincap has raised over $8.5 million in a Series A funding round led by Lok Capital and Matrix Partners India. Separately, Boon, a watertech firm focused on remote water purifying, monitoring and dispensing innovations, has raised $5 million in a Series A funding round, while Corvi LED, a lighting products… Continue reading India Digest: Seeds Fincap, Boon, Corvi LED raise fundsSeeds Fincap has raised over $8.5m.

Warburg Pincus names insider Jeffrey Perlman its next CEO

Warburg Pincus said on Wednesday it has named veteran insider Jeffrey Perlman as its chief executive officer, in only the third generation of leadership for the private equity firm in its nearly 60-year history. Succeeding longstanding CEO Chip Kaye, Perlman would begin in his new role on Sept. 2. Perlman was named president at Warburg… Continue reading Warburg Pincus names insider Jeffrey Perlman its next CEO