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Asia Private Equity Weekly News, October 8, 2012

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

OCTOBER 5

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

CARLYLE GROUP LP has raised $841 million in India'sfourth-biggest equity deal this year by selling its remaining3.7 percent stake in the country's top mortgage lender, HousingDevelopment Finance Corp Ltd, said a source with directknowledge of the deal.

FAMILY-OWNED Indian conglomerate Hinduja Group is thefront-runner to acquire Houghton International, a U.S. producerof metalworking fluids and other chemicals, owned by AEAInvestors LP, following a $1.15 billion bid, according to twopeople familiar with the matter.

OCTOBER 4

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

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

A PRIVATE equity firm founded by Chinese billionaire Yu Yongand a fund backed by state-owned China Development Bank haveoffered to buy Australian-listed copper explorer DiscoveryMetals 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 mayventure into alternative assets, such as infrastructure andprivate equity funds, as an ageing population puts more stresson the pension system.

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

JAPAN AND north Asia focused firm Longreach Group said ithas raised $400 million for its second Asia fund, LongreachCapital 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 marketingrange, as privatisation schemes and economic growth cementMalaysia's position as Asia's top destination for IPOs thisyear.

OCTOBER 2

U.S. LISTED Andatee China Marine Fuel Services Corpsaid its CEO, An Fengbin, had withdrawn a non-binding goingprivate proposal, citing challenging market conditions andvolatility. 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 furnitureretailer Courts Asia, IFR reported, a company owned by aninvestor 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)(ReutersMessaging: stephen.aldred.thomsonreuters.com@reuters.net))

Keywords: PVE WEEKLY/