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BIZCHINA> Top Biz News
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DBS private equity arm sets up $100m China fund
(Agencies)
Updated: 2009-02-26 19:21 DBS Group's private equity arm said on Thursday it set up a $100 million fund in China to invest in unlisted companies there.
Melvin Teo, managing director and head of DBS Private Equity, told reporters the fund will take minority stakes in mid- to late-stage growth companies with plans to list on China's domestic A-share market. "We find the opportunities have increased as companies look to shore up their capital in the current environment," he said. Teo said DBS Private Equity has to date invested around S$500 million ($327 million) across Asia, generating an internal rate of return (IRR) of around 30 percent. In the case of DBS' previous private equity investments in China, the IRR had been in line with the industry norm of over 100 percent, he said, adding future returns on the mainland will likely be lower because of increased competition. (For more biz stories, please visit Industries)
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