Baring Private Equity Asia has completed its exit from Japanese home improvement center operator Joyful Honda – the first joint investment by the firm’s private equity and real estate funds – generating a gross IRR of around 45%.
The GP last month agreed to sell 16.2 million shares – its entire 31.4% stake – for JPY3,497 apiece through participation in a tender offer launched by the company. The total consideration was JPY56.6...
Australia-based turnaround investor Allegro Funds has reached a final close on its third fund at the hard cap of A$290 million ($218 million) as well as raising A$92 million for a sidecar vehicle.
Cathay Capital Private Equity has launched a RMB1.5 billion ($227 million) China automobile sector fund with cornerstone investments from Yangtze River Industry Fund and French auto supplier Valeo.
Eight Roads Japan has led a JPY2.45 billion ($21.6 million) funding round Tokyo-based online media start-up Candee.
Baring Private Equity Asia has finalized an agreement to sell its majority stake in Korean construction materials business Halla Cement to Asia Cement.