Regulation

DIFC, the Dubai government-backed investment group which is a big investor in private equity, has launched a record-sized Islamic finance bond, with the majority of its investors coming from outside the MENA region.

Talks between Lone Star and Singapore’s DBS Group, involving the sale of the US private equity firm’s stake in Korea Exchange Bank, have ended due to still-unresolved investigations over Lone Star’s purchase of the controlling stake in 2003.

A director in the People’s Bank of China has called the country’s current rules ‘insufficient’ for investment needs.

Fresh details have emerged in Blackstone’s latest pre-IPO filing with the US Securities and Exchange Commission about the long-term nature of its deal with China’s overseas investment vehicle.

EMI’s share price rose further above Terra Firma’s £2.4 billion accepted offer price, as the markets reacted to rumours of two possible counter-bids.

The New York firm, led by former Forstmann Little pro Steven Klinsky, has set a target of $3 billion for its next private equity fund as LPs clamour for allocations.

EMI’s share price has risen on the back of speculation there will be a counter offer for the music group, although one reportedly interested party ruled itself out of the bidding.

CORECAP, a Qatar-based alternative asset manager and advisor, has launched its debut private equity fund. The $150 million Shariah-compliant fund will look to take advantage of the growing popularity of Islamic private equity.

The Blackstone Group’s fourth fund has “shot the lights out”, according to one investor, making more than $15 billion in profit for its investors. The $6.45 billion fund has enjoyed a string of big wins.

3i’s annual results revealed another strong year, with record realisations and investment up 42 percent. The group will return £800 million to shareholders.