peHUB First Read

First Read kicks off your morning with news of Morgan Stanley agreeing to a $2.6 billion mortgage settlement, Google is reportedly considering a stake in Jawbone and Auto Trader plans to launch an IPO on the London Stock Exchange.

Carlyle-Backed New Century REIT to Cut HK IPO by at Least Half – IFR

(Reuters) – New Century Real Estate Investment Trust, which is backed by private equity firm Carlyle Group, plans to slash its Hong Kong initial public offering by at least 50 percent because of tepid demand for new listings in the city, IFR reported on Thursday. The IPO will be at least half the up to $254 million originally planned, IFR reported. New Century owns four five-star hotels in mainland China.

Reuters – Standard Chartered Eyes Zimbabwe PE

Standard Chartered‘s private equity arm is looking for more deals in Zimbabwe, writes Reuters. The British bank, whose private equity business has assets under management of about $4.5 billion, made an investment in Zimbabwean agri-business Ariston Holdings through one of its portfolio companies, Afrifresh Group, last year.

Reuters – Carlyle Seals First Africa Deal

Carlyle Group and two other investors will pay $210 million for a stake in pan-African agribusiness Export Trading Group, in the US buyout firm’s debut deal on the fast-growing continent, writes Reuters. Carlyle, Standard Chartered and South African private equity fund Pembani Remgro are to take a minority stake in Tanzania-based ETG, which farms and distributes more than 25 different commodities.

Reuters – Black & Decker in Running for CVC’s Infastech

Stanley Black & Decker is among potential bidders for private equity-owned Infastech, a Singapore-based industrial fastener maker, writes Reuters. CVC Capital Partners and Standard Chartered‘s private equity arm have hired Bank of America and Goldman Sachs to sell the business after buying it for about $350 million-$400 million in 2010, according to Reuters. (Reuters) – […]

StanChart eyes $100 million Gulf PE deal

Standard Chartered‘s private equity arm expects to close a $100 million private equity deal in the Gulf Arab region before the end of this year, writes Reuters. The British investor in mid-market deals last year bought a minority stake in family-owned Saudi Binladin Group’s unit for $75 million. The bank also completed a $75 million […]

BGF Appoints Talent Network Head

Business Growth Fund, a fund established to help the UK’s smaller and medium sized businesses, has appointed Cate Poulson as head of BGF’s talent network, to develop the firm’s relationships with a network of experienced business leaders. BGF is an independent company with capital of up to 2.5 billion pounds ($3.9 billion), backed by five […]

Standard Chartered’s PE Arm Makes First Saudi Deal

Standard Chartered’s private equity arm has completed its first deal in Saudi Arabia, investing $75 million for a minority stake in a Saudi Binladin Group unit: Construction Products Holding, Reuters reported. The firm is scouting for more deals in Saudi Arabia, Reuters wrote, making it one of many buyout shops interested in the kingdom. Carlyle Group and Kohlberg Kravis Roberts & Co. have also make moves into the Saudi market.

Standard Chartered Pours $25M into Bush Foods Overseas

Standard Chartered Private Equity, a unit of Standard Chartered Plc , has invested $25 million in India’s Bush Foods Overseas, Reuters reported. Bush Foods Overseas processes and sells basmati rice. The investment will help the company expand its manufacturing and processing units.

Henan Golden Dragon Planning I.P.O.

China’s Henan Golden Dragon Precise Copper Tube Inc., which is backed by the private equity unit of Standard Chartered Plc, plans to raise 3.5 billion yuan ($533.72 million) in an initial public offering, Reuters reported, citing a story in the Shanghai Securities News. Golden Dragon is China’s largest precise copper tube producer, Reuters wrote. The company is also backed by Lehman Brothers Holdings and Goldman Sachs.

Powerica Plans for $200M I.P.O.

Indian generator maker Powerica Ltd., which is backed by the private equity arm of Standard Chartered, has filed a prospectus to raise $200 million in an initial public offering, Reuters reported. The Mumbai-based company is expected to launch the IPO in June, Reuters reported. Standard Chartered private equity owns 12% of the company, having invested $50 million in Powerica in 2007. The firm will sell a significant portion of its holding in the company, Reuters wrote.

PE Firms Plan GMR Airport Deal

Three private equity funds – including SBI-Macquarie and the private equity arm of Standard Chartered PLC – are expected to invest roughly 15 billion rupees ($332 million) into GMR Airport Holdings, Reuters reported, citing a report in the Economic Times. GMR Airport Holdings is a unit of GMR Infrastructure Ltd. The funds will be used […]

Standard Chartered Pours $18.5M Into Privi

Standard Chartered Private Equity has invested 850 million rupees ($18.9 million) in Indian chemical manufacturer Privi Organics Ltd., Reuters reported. The money will be used to fund expansion of Privi’s manufacturing facilities.

Standard Chartered will close a $100M deal by year’s end

Standard Chartered, which is working on a number of private equity deals in the Middle East at present, plans to close one for $100 million before the end of the year, the bank said. The bank is looking at deals in oil and gas, retails, telecoms, and manufacturing, according to Reuters.

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