Sharon Lim

Blackstone is advancing toward a fourth acquisition in India in a year. The target is Gokaldas Exports, India’s largest apparel exporter by sales. The investment: $165 million for a control stake.

Sequoia Capital has raised $300 million for a third India venture fund. The new fund is the largest dedicated to India venture capital, according to Sequoia managing director Sumir Chadha.

ICICI Venture is poised to make a 4.25 times cash return from a divestment in Ace Refractories, an investment made less than two years ago from its maiden fund.

Asia’s private equity report card for the first half of this year is out: fundraising has surpassed last year’s record levels but transaction value has fallen compared to the first six months of 2006.

Amwal Al Khaleej, a Saudi private equity firm, has invested $37.44 million for a 25 percent stake in an outdoor media business in United Arab Emirates.

India’s Power Finance Corp, a non-banking public sector lender, is reportedly turning to private equity to arrest the country’s infamous power shortfalls. Goldman Sachs and The Blackstone Group have been identified as possible partners.

A consortium led by The Carlyle Group is buying a 36.6 percent stake in Ta Chong Bank, overturning the bank’s distaste for a private equity suitor.

Oaktree Capital Management has raised $577 million for its first Asia-dedicated private equity fund. The alternative asset specialist which has been operating in Asia since 1998, expects to deploy 80 percent of the fund in Japan and Greater China.

Macquarie International Infrastructure Fund has bought a 20 percent stake in Taiwan Broadband Communications for $178 million. The controlling shareholder in TBC is Macquarie Media Group which holds a 60 percent stake.

Advent Private Capital, an Australian private equity firm has hired an investment manager to add to a 5-strong investment team after the mid-market specialist closed a fifth fund on A$300 million late last year.