Blackstone Inc limited withdrawals from its $69 billion real estate income trust (REIT) on Thursday after receiving too many redemption requests, an unprecedented blow to a franchise that helped it turn into an asset management behemoth. The curbs in redemptions came because they hit pre-set limits, rather than Blackstone setting the redemption limits on the day. Nonetheless, they fueled investor concerns about the… Continue reading PE giant Blackstone hits redemption limit on $69b real estate vehicleThe redemption curbs, which came because of pre-set limits, fuelled investor conc…
Author: Deal Street Asia Online News
Singapore venture firm BEENEXT said to be raising one of its largest Asia funds
Aastha Maheshwari 02 December, 2022 Singapore-based venture capital firm BEENEXT is learnt to be raising one of its largest Asia-focused funds, as it prepares to write larger cheques for startups in India and Southeast Asia, according to persons aware of the development. The persons further said the fund could be targeting a corpus of around… Continue reading Singapore venture firm BEENEXT said to be raising one of its largest Asia funds
Contagion of FTX meltdown far from over, warn industry players
Even as crypto lender BlockFi has filed for Chapter 11 bankruptcy protection in the US; Hong Kong-based crypto exchange Atom Asset Exchange (AAX) is reportedly wiping out some of its social media presence; and crypto broker Genesis works overtime to avoid filing bankruptcy, industry players have warned that the market sentiment is “extremely bearish” and… Continue reading Contagion of FTX meltdown far from over, warn industry players
SE Asian tech giants take a leaf out of US peers’ book: 4 things you should know
As Southeast Asian tech companies brace for a tougher business environment, they are borrowing from the US industry’s latest playbook: mass layoffs. The region’s largest platforms, like Indonesia’s GoTo and Singapore’s Sea, have reduced their total workforces by as much as 10% this year, with some signaling even further reductions. Go to Source
Thai retailer CJ Express mulls up to $800m IPO in Bangkok, per report
Thai retailer CJ Express Group Co is looking at a possible initial public offering (IPO) in Bangkok to raise $500-800 million, according to a Bloomberg report. Sources interviewed in the report said the Thai supermarket company is working with advisers on an IPO that could take place as soon as next year. The size and… Continue reading Thai retailer CJ Express mulls up to $800m IPO in Bangkok, per report
APAC family offices eye increased PE, VC investments: ReportNearly 83% of APAC family offices are investing in private equity.
A majority of family offices in the Asia Pacific (APAC) are looking at increasing their exposure to private assets such as private equity and venture capital, according to The Asia Pacific Family Office Report 2022 by Hong Kong-based Raffles Family Office and Campden Wealth. As these investors seek new investment opportunities to offset the impact… Continue reading APAC family offices eye increased PE, VC investments: ReportNearly 83% of APAC family offices are investing in private equity.
FTX founder Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’
Sam Bankman–Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestions of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking via video link at the New York Times’ Dealbook Summit with Andrew Ross Sorkin on Wednesday, Bankman–Fried said he did not… Continue reading FTX founder Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’
OpenSpace likely to lead Indonesian auto-financing startup Broom’s new funding round
Indonesian auto-financing startup Broom is finalising a new funding round of $6-8 million, led by Singapore-based venture capital firm OpenSpace Ventures with an investment of up to $4 million, DealStreetAsia has learnt. A number of existing investors are also participating in the new round, according to three persons aware of the development. Go to Source
responsAbility invests in Aye Finance and India deals worth $129m
Fintech lender Aye Finance Thursday announced that it has raised $10 million in the form of external commercial borrowings (ECBs) from Zurich-based responsAbility Investments AG. Aye plans to use the proceeds to offer business loans to microenterprises to support their growth, it said in a statement. “We are currently witnessing a surge in credit applications… Continue reading responsAbility invests in Aye Finance and India deals worth $129m
Great Wall Motor’s hydrogen fuel cell arm raises nearly $79m in Series B roundThe startup aims to build a global R&D system and step up its manufactur…
FTXT Energy Technology, a Chinese developer of hydrogen fuel cell technology, has closed 555 million yuan ($78.6 million) in a Series B round of financing as its parent group raises its stakes in the country’s eco-friendly vehicle market. Shanghai-headquartered FTXT, an affiliate of China’s Great Wall Motor, raised the new capital from lead investor CNBM… Continue reading Great Wall Motor’s hydrogen fuel cell arm raises nearly $79m in Series B roundThe startup aims to build a global R&D system and step up its manufactur…