Abraaj founder Arif Naqvi

Abraaj founder apologises “unreservedly” in memo to employees


In an internal note to employees, Arif Naqvi said he had no knowledge of intentional wrongdoing at the buyout firm.

Guggenheim said to mull stake sale for $250b asset management unit

Guggenheim Partners Investment Management has been in talks with global insurers, sovereign wealth funds and investment pools in Europe, the Middle East and Asia.

Walmart borrows $16b to fund Flipkart buy in year’s second-largest bond sale

Walmart Inc. sold $16 billion of bonds to help finance its investment in India’s biggest online seller, in the second-largest U.S. corporate debt sale of the year. The retailer offered fixed- and floating-rate notes in nine parts. The longest bond, a 30-year security, yields 1.05 percentage points above Treasuries, less… Read more »

Taiyo Nippon, Carlyle lead race to buy Linde and Praxair assets

Taiyo is in the frame to bag the European package, while Carlyle would take the U.S. assets.

US-based Colony Capital to buy Abraaj’s Latin America, Africa, Turkey funds

The transaction, part of restructuring and provisional liquidation, is expected to complete by July 1. Abraaj has been roiled in allegations over misused funds since early this year.

Asia Digest: PTT unit in JV with Sumitomo; Hap Seng land sale; Compact Metal buys plant

Thai conglomerate PTT’s petrochemical arm PTT Global Chemical has formed a joint venture with Kuraray Co and Sumitomo Corp

Deutsche Bank hires three for equity execution business in Japan

As Deutsche Bank AG sheds thousands of jobs worldwide, there’s at least one place where it’s still been hiring.

Carlyle Group raises $6.6b for new Asia fund, its biggest ever

This is more than Carlyle’s initial target of $5 billion and is 65% bigger than its previous Asia buyout fund

GIC-backed Acuris acquires energy-focused news service SparkSpread

Acuris is majority owned by BC Partners who in June 2017 announced the sale of a 30% stake to GIC.

SoftBank’s Son to go unicorn hunting as company shifts focus

Son says he spent 97% of his time on managing the telecoms business and only 3% on investing.