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Asia Private Equity Weekly News, October 8, 2012

HONG KONG, October 8 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending October 5.

OCTOBER 5

CVC PARTNERS is exploring the sale of Indonesia's PT Matahari Department Store , sources told Reuters, seeking a price tag of more than $2 billion after paying less than half that for the company two-and-a-half years ago.

CARLYLE GROUP LP has raised $841 million in India's fourth-biggest equity deal this year by selling its remaining 3.7 percent stake in the country's top mortgage lender, Housing Development Finance Corp Ltd, said a source with direct knowledge of the deal.

FAMILY-OWNED Indian conglomerate Hinduja Group is the front-runner to acquire Houghton International, a U.S. producer of metalworking fluids and other chemicals, owned by AEA Investors LP, following a $1.15 billion bid, according to two people familiar with the matter.

OCTOBER 4

TPG CAPITAL Management LP's $700 million bid for Billabong International Ltd is still on the table, although the struggling Australian surfwear retailer needs to address some concerns raised by the private equity firm.

GROWTH CAPITAL and venture capital are the most common Asia-focused private equity funds, with growth funds currently raising $36 billion or 28 percent of all capital sought for the region, according to a new report from data provider Preqin.

A PRIVATE equity firm founded by Chinese billionaire Yu Yong and a fund backed by state-owned China Development Bank have offered to buy Australian-listed copper explorer Discovery Metals Ltd , valung the company at about $850 million.

THE HEAD of Japan's Government Pension Investment Fund (GPIF), the world's biggest public pension fund, said it may venture into alternative assets, such as infrastructure and private equity funds, as an ageing population puts more stress on the pension system.

STANDARD CHARTERED Bank's Singapore investor is holding tight to its view that the board is too heavy with bank executives after the appointment of four independent directors.

JAPAN AND north Asia focused firm Longreach Group said it has raised $400 million for its second Asia fund, Longreach Capital Partners 2. Longreach, which focuses on control buyouts, originally targeted $750 million for the fund.

PAY-TV firm Astro Malaysia Holdings Bhd will raise about $1.5 billion by selling shares at the top end of a marketing range, as privatisation schemes and economic growth cement Malaysia's position as Asia's top destination for IPOs this year.

OCTOBER 2

U.S. LISTED Andatee China Marine Fuel Services Corp said its CEO, An Fengbin, had withdrawn a non-binding going private proposal, citing challenging market conditions and volatility. An Fengbin announced his plans in November 2011.

OCTOBER 1

HSBC IS sole bookrunner for an up to S$151 million ($124 million) Singapore IPO for electronics and furniture retailer Courts Asia, IFR reported, a company owned by an investor group led by Baring Private Equity Asia. ($1 = 1.2268 Singapore dollars)

(Compiled by Stephen Aldred; Editing by)

((stephen.aldred@thomsonreuters.com)(+852 2912 6609)(Reuters Messaging: stephen.aldred.thomsonreuters.com@reuters.net))

Keywords: PVE WEEKLY/

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