Asia Private Equity Weekly News, May 5, 2014

May 5 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending May 2.

MAY 2

SHARES OF Ares Management LP, the first U.S. private equity firm to go public in about two years, fell as much as 5.3 percent in their trading debut, adding to the list of underperforming IPOs over the past month.

APRIL 30

PRIVATE EQUITY firm Carlyle Group LP reported an 18 percent drop in quarterly profit as strength in its main business of corporate buyouts was offset by weaker performances in its credit and real-estate funds.

A CONSORTIUM of RRJ Capital and Temasek Holdings have agreed to invest 1.3 billion euros ($1.8 billion) in ING Groep's European and Japanese insurance and investment management unit ahead of its planned IPO, the Dutch financial services firm said in a statement.

HASTINGS FUNDS Management and China Merchants Group have won a state government auction for a 98-year lease on Australia's Port of Newcastle, the world's biggest coal export terminal, paying a higher-than-expected A$1.75 billion ($1.6 billion).

APRIL 29

A BID for French holiday operator Club Med (Paris: FR0000121568 - news) by China's Fosun International (Frankfurt: FNI.F - news) and French private equity firm Ardian will close next month after a court rejected a shareholders' challenge that had delayed the deal by nearly a year.

CHINA'S WH Group Ltd, the world's biggest pork company, postponed its planned Hong Kong initial public offering, underscoring weak demand for the deal even after the company slashed the offer's size and reduced the valuation, people with direct knowledge of the matter said.

ALIBABA GROUP Holding Ltd and a private equity firm co-founded by its executive chairman Jack Ma have agreed to buy a $1.22 billion stake in Youku Tudou Inc (NYSE: YOKU - news) , as China's e-commerce giant intensifies its focus on online video business.

APRIL 28

VIOM NETWORKS Ltd, an Indian phone tower operator majority owned by the Tata Group, is looking to raise funds either through a stake sale or an overseas listing that could raise up to $350 million, sources with direct knowledge of the matter said.

MALAYSIAN STATE asset manager Permodalan Nasional Bhd is considering a proposal to merge four of its portfolio companies to form Southeast Asia's second largest property firm by assets, a source with direct knowledge of the matter said.

AUSTRALIAN FACILITIES management company Spotless Group plans to raise as much as A$1 billion ($928.2 million) in the country's biggest initial public offering so far this year.

APRIL 25

CVC CAPITAL Partners has completed an investment in South Beauty Investment Co Ltd, and is now the major shareholder in the Chinese restaurant chain, the two companies said in a statement. (http://link.reuters.com/vap98v)

APRIL 24

TWENTY-TWO Chinese firms, including Zhoushan Port Co Ltd, announced plans to list on China's equity markets, boosting the number of potential stock market debutants after a two-month lull in new listings.

APRIL 23

SHARES IN railway and property company Seibu Holdings Inc opened in line with its deeply discounted IPO price on its relisting in Tokyo, reflecting growing caution over the strength of Japan's economic recovery.

APRIL 22

PRIVATE EQUITY firm ClearVue Partners has led a $10 million round of financing to invest in Akasakatei, a Teppanyaki, BBQ and Japanese-cuisine restaurant company.

JAPANESE FINANCIAL services company Orix Corp (Frankfurt: OIX.F - news) will buy precious metal, diamond and jewellery recycler Net Japan Co from Baring Private Equity Asia for around 21 billion yen ($204.7 million), people with knowledge of the matter said.

SINGAPORE'S NATIONAL Research Foundation said it had selected six venture capital firms to inject S$120 million ($95.8 million) into Singapore-based startups. The firms are Golden Gate Ventures, Jungle Ventures, Monk's Hill Ventures, Walden International, SBI Ven Capital and New Asia Investments. (http://link.reuters.com/xap98v)

APRIL 21

CHINESE DRUGMAKER Shanghai Fosun Pharmaceutical Group Co Ltd and private equity firm TPG Capital agreed to buy China-focused Chindex International Inc (NasdaqGS: CHDX - news) in a beefed-up $461 million deal after trumping a rival bid. ($1 = 1.2524 Singapore Dollars) (Compiled by Stephen Aldred in Hong Kong; Editing by Anand Basu)