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☆ Morning Bid: After manic week, TGIF
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Guest walk on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.com RegisterA look at the day ahead in European and global markets from Anshuman DagaFriday is shaping up as a slow day. Equity markets are still licking their wounds, U.S. bond yields are at 11-year highs and the dollar is hovering near a two-decade peak. Register now for FREE unlimited access to Reuters.com RegisterStill, investors have probably had enough this week, with the Fed raising rates by 75 basis points as expected but jolting markets with a sobering outlook. read moreA host of central banks including the UK, Swiss and Norwegian raised interest rates this week, providing no signs that borrowing costs are nearing a peak.

The likely purchase of the new asset and the $3 billion valuation of the toll road business has not been reported previously. Representatives from Road King did not respond to requests for comment. CVC and Road King's attempts to monetise the toll road business comes at a time of growing global investor interest for infrastructure assets, driven by sovereign, pension and private equity funds chasing long-term returns. Road King, a Chinese property developer, has operated expressways in the country since nearly three decades. It diversified into the Indonesian toll road business in 2019 and its expressways in China and Indonesia span over 600 kilometres in total, according to the company's website.

A screen announces the listing of private-equity firm TPG, during the IPO at the Nasdaq Market site in Times Square in New York City, U.S., January 13, 2022. TPG kicked off fundraising of its eighth private equity fund for the region in January, targeting $6 billion, the company said during its March earnings call. If successful, the fund will be its largest Asia fund to date. Hong Kong-based Baring Private Equity Asia last week announced it had closed its eighth, and largest, pan-Asia fund at $11.2 billion. read moreTPG's U.S rival Carlyle Group (CG.O) aims at raising $8.5 billion in a new Asia fund, according to separate people familiar with the situation.

TPG kicked off fundraising of its eighth private equity fund for the region in January, targeting $6 billion, the company said during its March earnings call. If successful, the fund will be its largest Asia fund to date. Hong Kong-based Baring Private Equity Asia last week announced it had closed its eighth, and largest, pan-Asia fund at $11.2 billion. read moreTPG's U.S rival Carlyle Group (CG.O) is aiming to raise $8.5 billion in a new Asia fund, according to separate people familiar with the situation. It last raised a $4.6 billion Asia fund in February 2019.

☆ Morgan Stanley's Southeast Asia M&A chief to head Raine's Southeast Asia coverage
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Andrew KellySINGAPORE, Sept 19 (Reuters) - U.S. investment bank Raine Group has tapped Jonathan Pflug, Morgan Stanley's head of Southeast Asia M&A, to lead its coverage in Southeast Asia, two sources familiar with the matter said on Monday. Morgan Stanley and Raine did not immediately reply to Reuters questions about the move. Singapore-based Pflug, a managing director at Morgan Stanley, has been with the investment bank since 2011. Pflug is set to join Raine early next year and launch its Singapore office as the firm seeks to expand into Southeast Asia, the sources said. Register now for FREE unlimited access to Reuters.com RegisterIn Asia, Raine currently has offices in Hong Kong, Shanghai and Mumbai.

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