Siddharth Poddar

After joining the firm as vice president in early 2007, Jie Gong is relocating from the US to Hong Kong to cover Morgan Stanley Alternative Investment Partners' private equity fund of funds activity in Asia.

Regulators have reportedly rejected the joint venture, and instead allowed CITIC to launch a private equity arm expected to raise RMB 6bn for its first fund.

China’s $200bn sovereign wealth fund has said that it will not pump money into troubled western financial institutions citing a lack of ‘sincere cooperation’ on the part of the US government.

The Silicon Valley venture firm has raised its first India-focused private equity fund for expansion stage investments.

The global alternatives manager has reportedly pulled out of the $5bn India Infrastructure Fund, the other backers of which include IDFC and Citigroup, because it was unhappy with the small equity portion it was allocated.

The sale of the power company comes a week after Temasek said it had scrapped the auction, citing unfavourable market conditions. It has now sold all three of its power companies in 2008 for a sum of S$11.7bn.

The Chinese sovereign fund has reportedly hired Zhou Yuan, former China head of global investment bank UBS to lead its real estate and private equity funds.

Australian software company MYOB has rejected the consortium's A$437m offer, saying it represents an 'unusually skinny' premium.

Asia-focused Olympus has teamed with US venture firm Bessemer on a $55m investment in Orient Green Global.

The Swiss asset manager and the Middle East investment firm are both committing $40m to the fund, which will make investments in oil and gas services, financial services, and light and medium industries.