HONG KONG, Oct 8 (Reuters) - News and developments in Asiaprivate equity from Reuters News for the week ending Oct. 4.
OCTOBER 3
PRIVATE EQUITY firm Ardian, which was recently spun off fromFrench insurer AXA, has completed fundraising for anew 2.4 billion euro ($3.26 billion) buyout fund with freshmoney from the United States and Asia.
STANDARD CHARTERED PLC, DBS Group Holdings Ltd and HSBC PLC have submitted first round bidsfor Societe Generale's Asian private bank valued at$600 million, people involved in the sale told Reuters.
TPG CAPITAL-backed private equity firm NorthstarGroup is seeking to raise around $1 billion in a new fund toinvest in Southeast Asia's fast-growing economies, peoplefamiliar with the matter told Reuters.
OCTOBER 2
THE COFFEE Bean & Tea Leaf, in which three private equityfirms recently bought stakes, may consider an initial publicoffering or a strategic sale over the next few years as part ofan exit strategy for investors, its CEO said.
MYANMAR'S NEW mining law, designed to help clear the way forforeign investment in the country's huge minerals sector, couldbe enacted as soon as March, an official with the country'sMinistry of Mines said.
OCTOBER 1
IN LLOYD'S Banking Group's international garagesale, Pepper Australia and Macquarie Group submittedcompeting bids for assets that the British bank is offloading inAustralia as the auction drew to a close.
INTERMEDIATE CAPITAL Group, which manages 12.5 billion eurosin proprietary capital and third party funds, said it hiredNyree Hu as a director focused on pan-Asia distribution. ()
SEPTEMBER 30
KKR & Co LP agreed to buy a 10 percent stake inwhite goods maker Qingdao Haier, the two companiessaid, in the U.S. private equity firm's biggest investment inChina to date.
AXA's private equity arm said it had completed a spin outfrom its parent company, with management and employees takingthe biggest stake of the newly named Ardian.
ASIA PACIFIC syndicated loan volume excluding Japan of $90.4billion in the third quarter pushed lending to $279 billion inthe first nine months of 2013, 27 percent higher than the sametime last year, despite a weaker macroeconomic picture.