Australia
Succession planning: Ending an era
Succession planning is quickly becoming a strategic priority across Asia Pacific. In Australia, GPs are looking into a number of different ways to make it work
PE and AI: The machinists
After decades of tantalizing but patchy progress, artificial intelligence is finally seen as ready for mass commercialization. Investors must now weigh an unmissable opportunity with a world of uncertainty
Australia's Next Capital sells Infinite Care to Moelis
Next Capital has agreed to sell its controlling stake in Australia-based aged care business Infinite Care to Moelis Australia. The GP first invested in the company in December 2014.
Australia's PEP considers infrastructure fund
Pacific Equity Partners (PEP), currently Australia’s largest domestic buyout player, plans to raise an infrastructure fund with a view to applying operational knowhow from private equity to investments in a different asset class.
Australia exits: Closed window
Exit activity in Australia has followed a boom and bust pattern in recent years. Investors are consequently cautious about near-term IPO potential but not inactive
Greenstone invests $21m in Australian miner
Mining-focused private equity firm Greenstone Resources has invested $21.2 million in Australian base metals project developer Heron Resources.
High valuations push Australian LPs up the infrastructure risk curve
Australian institutional investors are responding to rising valuations in the core infrastructure space by moving up the risk curve into more opportunistic assets – and domestic pricing pressure is also expected to lead to higher emerging markets allocations.
Australia invests $11m across three biotech start-ups
The Australian government has agreed to invest A$13.3 million ($11 million) into three local healthcare start-ups via it’s Biomedical Translation Fund (BTF).
Australia's Advent sells Integrated Packaging to Pro-Pac
Australian mid-market GP Advent Partners has agreed to sell Integrated Packaging Group (IPG), an industrial and agricultural packaging business, to listed counterpart Pro-Pac in a deal worth A$177.5 million ($142.9 million).
GP-LP: Dangerous liaisons
A diverging supply-demand dynamic in private equity fundraising is threatening the GP-LP alignment of interest. Concessions on both sides are needed in the interests of long-term stability
Bain reaches $557m first close on Asia special situations fund
Bain Capital Credit has reached a first close of $557 million on its Asia-focused special situations fund.
Mercury gets go-ahead for New Zealand healthcare deal
Australia-based middle market GP Mercury Capital has won regulatory approval to acquire about 50% of Nirvana Health Group, New Zealand’s largest independent primary healthcare services provider.
KKR to take majority stake in Laser Clinics Australia
KKR has acquired a majority stake in cosmetic treatments business Laser Clinics Australia (LCA) at a valuation of A$650 million ($515 million). The deal facilitates a partial exit for The Growth Fund.
Chinese investor commits $63m to Australia incubator
Suzhou High-Tech Venture Capital Group, a Chinese state-backed investment fund, has committed A$80 million ($63 million) to a start-up incubator based in Melbourne.
Anacacia-owned Big River makes timber bolt-on
Big River Industries, an Australia-based construction materials manufacturer that Anacacia Capital took public three months ago, has bought industry peer Midcoast Timbers.
Australian regulator questions Platinum's OfficeMax acquisition
Platinum Equity’s acquisition of OfficeMax in Australia and New Zealand – which came shortly after the GP agreed to buy the regional operations of Staples – has been flagged by Australian regulators due to concerns that it could lessen competition...
Australia's Alium raises $79m venture fund
Australia-based Alium Capital has received A$100 million ($79 million) in commitments for its debut venture capital fund, meeting the targeted corpus.
Affinity, KKR end takeover talks for Australia’s Vocus
KKR and Affinity Equity Partners have withdrawn their bids to acquire Australian broadband internet provider Vocus Group.
Australia's PE-backed PARF acquires domestic wind farm
Coopers Gap Wind Farm, a power facility under construction in Australia, has been acquired by the Powering Australian Renewables Fund (PARF), a renewable energy-focused vehicle backed by QIC and Australia’s Future Fund.
Macquarie receives $300m for Asia infra fund
Australia’s Macquarie Infrastructure and Real Assets (MIRA) has launched a new Asia infrastructure fund with a $300 million cornerstone LP commitment from Canada’s Alberta Investment Management Corporation (AIMCo).
Data centers: The information edge
Asia’s booming online economies have created unprecedented demand for data center services, but private equity investors still must determine the best way to approach the industry
CHAMP exits Australian mining, infrastructure services business
CHAMP Private Equity has sold Golding Group, an Australia-based provider of mining and civil infrastructure services that it has owned since 2008, to rival contractor NRW Holdings at an enterprise valuation of A$85 million ($66.9 million).
Australian regulator queries PE-backed childcare merger
Australia’s competition regulator has expressed concerns about the merger of outside school care providers Camp Australia and Junior Adventures Group (JAG), both of which are private equity-owned.
Australia’s LaunchVic terminates partnership with 500 Startups
LaunchVic, a start-up investment fund backed by the government of Victoria, has ended its planned partnership with 500 Startups in the wake of a sexual harassment scandal at the Silicon Valley-based accelerator.