Chip equipment maker raises $38MAdvanced Micro-Fabrication Equipment Inc., a Shanghai, China-based developer of plasma etching and chemical vapor deposition equipment for use in semiconductor fabs, has raised $38 million in Series B funding. Goldman Sachs led the deal, and was joined by return backers like Bay Partners, Global Catalyst Partners, Lightspeed Venture Partners and Walden International.
Carlyle tunes into Korea cableThe Carlyle Group has paid about $166 million to acquire a 33.5% stake in Hyundai Communications & Network, a Korean cable television group controlled by Hyundai Department Store.
IDG-backed hotel chain files IPO on NasdaqHome Inns & Hotels Management Inc., an operator of an economy hotel chain in China, has filed for an $80 million IPO. It plans to trade on the Nasdaq under ticker symbol HMIN, with Credit Suisse and Merrill Lynch serving as co-lead underwriters. Shareholders include Poly Victory Investments Ltd., AsiaStar IT Fund, IDG Technology Ventures and Kangaroo Investments.
3com venture attracts competing bids
Three U.S. private equity firms are competing to buy H-3C, a Chinese joint venture between 3Com Corp. and Chinese telecommunications-equipment maker Huawei Technologies Co., according to a Wall Street Journal report last week.
Huawei invited Silver Lake Partners, Bain Capital Inc. and Texas Pacific Group to bid on the networking joint venture, the paper reported, adding that the offers from the firms range from $1 billion to $1.5 billion.
3Com, which owns 51% of the venture, announced in the summer it planned to raise its stake in the venture.
CITIC nears $250M targetCITIC Capital Partners, the private equity arm of China’s largest financial conglomerate CITIC Group, said it has raised $220 million to date for its inaugural China private equity fund. The fund, CITIC Capital China Partners, will focus on buyouts of Chinese companies.
In announcing the fund, Managing Partner Yichen Zhang noted that a buyout market is emerging in China. “There will be tremendous investment opportunities as the privatization of state-owned enterprises continues over the next few years,” he said.
The fund has a $250 million target.
Aureos eyes $70MAureos China Capital is raising $70 million for its inaugural fund, which will focus on small and mid-sized businesses in the Shandong province in Eastern China. It recently received a $20 million LP commitment from CDC, a U.K. government-backed private equity organization focused on emerging markets. —PE Week staff