UNITAS CAPITAL’S BUYOUT OF DUTCH cylinder-maker Hyva earlier this year was a landmark private equity deal in that it was the first in Asia to be backed by a high-yield bond. Not only did the company’s $375 million bond issue set a precedent for other Asian investors to consider less traditional leverage options, but Unitas’ John Lewis, who led the deal, said it has provided Hyva with a “lot more flexibility” in terms of repayments than the typical Asian syndicated loan structure.
Unitas purchased Hyva from 3i Group as part of a secondary buyout in May. Unitas was the only bidder able to secure interim bank financing by the final deadline for the deal. "That was critical," says...
US-based 1839 Ventures has agreed to invest $20 million in a fund launched by the Pakistan government that will invest in domestic technology start-ups.
Amicus Capital Partners has made its maiden investment, committing INR600 million ($9.3 million) to Indian online insurance aggregator RenewBuy.
Lefit, a China-based online-to-offline (O2O) fitness platform, has raised a RMB300 million ($46 million) Series C round of funding led by Hillhouse Capital.
US and Singapore-based venture capital investor Wavemaker Partners has raised $66 million for its second Southeast Asia-focused fund. The target was $50 million.