India topped the Asian private equity league in 2007, followed by China, a report said on Monday. The Asia Private Equity Review (APER) said India recorded the largest number of deals at 290 and the highest aggregate deal value at 9.9 billion US dollar. The momentum appears set to continue this year. 'With alluring return results attained in 2007 and fund managers' ability to raise substantially larger funds, India promises exciting dynamics in 2008,' ACER said in the report published in The Business Times. China followed with 240 deals totalling 9.5 billion US dollars. The aggregate deal value for private equity in Asia was 42.2 billion US dollars spread over 691 deals with China and India accounting for 45.9 per cent of aggregate deal value and 76.7 per cent of deals by number.   more »

House of Pearl Fashions will acquire 75 per cent stake in Hong Kong-based marketing company, Simple Approach. The acquisition will benefit Pearl Fashions in expanding its customer base into high fashion, mid-market segment. Simple Approach supplies to mid market retailers in the UK and US. The company is expected to clock revenue of Rs 80 crore in the current financial year. It is expected to grow to Rs 100 crore in 2008-09 and to Rs 200 crore by 2010-11.   more »

US-based Clear Investments and government-owned Power Finance Corp (PFC) have joined hands to float a $1-billion private equity fund for the Indian power sector. Their plan is to increase the size of the fund to $10 billion by 2012 with the sector entering the boom phase in the country. PFC, which was appointed as the advisory to the investments, has evinced interest in picking up 20% stake in the power fund. PFC has submitted a letter of intent (LoI) to invest $200 million, according to Deepak Kavadia, managing director of the parent company Clear Trade. The fund, which has an advisory board in India, will invest $250 million to pick up stake in Indian power companies through pre-public offering by March 2008, said Mr Kavadia.   more »