An investor consortium composed of TPG Capital, Hong Kong-based private equity firm PAG Asia Capital and Ontario Teachers’ Pension Plan (OTPP) has completed the buyout of U.S. commercial real estate services provider Cassidy Turley, according to a company announcement. Deal terms were not disclosed. Cassidy Turley has also been merged with Chicago-headquartered property services firm […]

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Beijing-based mobile marketing solution provider OptAim has completed US$10 million series A financing from Bertelsmann Asia Investments (BAI), according to a company announcement. The proceeds will be used for product and technology research and development, strengthening up marketing and expanding into new markets. Founded in September 2012, OptAim helps advertisers improve their marketing return on […]

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Nanjing, Jiangsu province-based online food takeout service provider Line0.com has received US$30 million series B financing led by Tencent Holdings Limited, according to Chinese news reports. Sequoia Capital and Gobi Partners also participated in the round. The company previously received millions of U.S. dollar series A financing from Sequoia Capital, Gobi Partners, and Eastern Bell […]

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The Customs & Excise Department has confiscated $112 million-worth of properties in Hong Kong and Singapore in connection with a suspected money laundering case.

The Court of First Instance had earlier granted it a confiscation order under the Organised & Serious Crimes Ordinance.

The case involved the laundering of crime proceeds between 2008 and 2012 through shell companies and bank accounts established in Hong Kong and overseas.

In August 2014, Customs joined forces with overseas enforcement authorities to trace the assets. Follow-up investigations with the Singapore Police Force then led to the successful seizure of properties in both cities.

China's growth will slow further in 2015 to an annual expansion of 6.8%, as the ongoing property downturn continues to drag on construction, industrial production and related investments, says a research report by UBS AG. The year of 2014 started bumpy but ended on a positive note for China. Serious concerns on slowing growth and […]

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Private equity funds in Asia received an aggregate US$42 billion through exits in 2014, 68% higher than that of 2013, despite the number of exit deals dropping 16% to 270 last year, according to data firm Preqin. Globally, private equity funds enjoyed a year of strong exit activities as stock markets rallied. A total of […]

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Shanghai-based Chinese classified advertising website Baixing.com has received US$100 million series D financing from undisclosed investors, according to unverified Chinese media reports. Representatives at Baixing.com did not respond to inquiries to confirm the news. The proceeds will be used to enhance user experience and customer service, team-building and continued platform development, especially on mobile Internet. […]

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