It is a well established trend that Australian LPs are increasingly looking to internationalize their private equity exposure, arguably at the expense of domestic GPs. Foreign investors looking to enter Australia are not deterred. Sebastiaan van den Berg, managing director at HarbourVest Partners, has no plans to scale back, citing the country’s stable economy, rule of law and experienced GP community.
He does admit, however, that the retreat of domestic LPs leaves their foreign counterparts in a bind. "Perhaps from a more selfish perspective, less capital driving up valuations is better - to the extent...
Zoomlion Heavy Industry Science and Technology, a China-based construction machinery maker, has launched an industry PE fund with an overall target of RMB3.21 billion ($481 million).
Goodwater Capital and Qualcomm Ventures have led a $23.7 million Series B funding round for South Korean financial technology provider Viva Republica.
CAC Capital Management, a China-based private equity firm, has agreed to buy the local power cables business of Denmark-headquartered industrial conglomerate NKT for an enterprise value of EUR14.3 million ($16 million).
Australian life sciences and technology-oriented venture capital firm OneVentures has committed A$8 million ($6.1 million) to Melbourne-based Murdoch Childrens Research Institute (MCRI).