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Month: August 2020

Xpeng charges up $2bn ADS follow-on

Chinese electric vehicle manufacturer Xpeng is selling a chunk of new American Depository Shares (ADS) to fund research and development and further expansion.

Perimeter raises rapid-fire $40m Series B, just months after Series A extension

Zero-trust secure network Perimeter 81 has closed its Series B on $40m, just a few months after a Series A extension.

Proptech startup Habito secures £35m in venture capital-backed Series C round

London-based PropTech Habito has bagged £35m in a Series C round led by Augmentum Fintech, SBI Group and mojo.capital.

KKR Upsizes and Prices Offering of Mandatory Convertible Preferred Stock

NEW YORK--(BUSINESS WIRE)-- KKR & Co. Inc. (“KKR”) (NYSE:KKR) today announced that it has priced an offering of $1.0 billion (20,000,000 shares) of its 6.00% Series C Mandatory Convertible Preferred Stock (the “mandatory convertible preferred

OVL makes quick loan return

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has sent out a request for proposals for an up to $750m loan, just a few months after raising $1bn.

AMB :- European PE/VC deal volume drops to a five-year low in H1 2020

Laxman Pai, Opalesque Asia: European private equity and venture capital entry volume dropped to a five-year low in the first half of 2020 as managers turned away from deal-making to focus on their existing portfolios

Technical issue forces ECB to use €STR contingency

A technical issue around the data submission meant that the euro area short term rate (€STR) did not have enough data to be calculated in the usual way this morning, forcing the ECB to use

‘Corruption is incentive plus stupidity,’ says J Capital’s Anne Stevenson-Yang

Anne Stevenson-Yang is a director and co-founder of J Capital Research, a New York firm and short seller that specialises in Chinese companies, as well as international companies looking to grow their business in China.

Hedge funds continue strong run with Chinese hedge funds in the lead

Opalesque Industry Update - The Eurekahedge Hedge Fund Index was up 2.61%1 in July, bringing its year-to-date return to 1.73%, supported by the robust performance of underlying global equity markets as represented by the MSCI

Sonny’s Switches Sponsors

Genstar has acquired Sonny’s Enterprises, a manufacturer of car wash equipment and supplies, from Sentinel Capital Partners. Sonny’s is the largest manufacturer and distributor of conveyorized car wash equipment, parts and supplies in the world

Spire Expands Testing Platform

ERI Solutions, a portfolio company of Spire Capital since November 2018, has acquired DBI Group. DBI is a provider of non-destructive testing, mechanical integrity inspections, pipeline integrity inspections, and heat treating services. The company, led

Shore Continues EyeSouth Build

EyeSouth Partners, a portfolio company of Shore Capital Partners, has acquired Retina Associates of Middle Georgia (RAMG). RAMG provides ophthalmology services for the treatment of diseases of the retina, macula, and vitreous. The practice is

Financial services incentives set to fall as pandemic hits profits

Private equity, asset management, hedge funds, and advisory investment banking could see staff incentives drop by up to 15% in 2020, according to consultancy Johnson Associates

UK-based Kester Capital closes second fund at £90m hard cap

The strategy will invest in UK SMEs, with a focus on healthcare, business and financial services and technology, media and telecommunications

SoftBank starts comeback with $12bn profit

Tech investor unloads assets to bolster balance sheet after suffering its worst year, and CEO says it may sell chip designer Arm

OneConnect returns to US with follow-on

US-listed OneConnect Financial Technology Co, a Chinese company whose stock price has doubled this year, is tapping equity investors for new funds.

Third time lucky? Yihua seeks nod for new coupon deadline

Troubled Chinese bond issuer Yihua Enterprise (Group) Co will hold a meeting with investors on Wednesday, where it will promise to pay the overdue interest on a domestic medium-term note before the end of September.

Quanta cuts pricing on $1bn loan return

Taiwan’s Quanta Computer has returned to the loan market for a tightly priced $1bn deal, slicing both the margin and participation fees on offer.

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