Australia
IIF program to invest $102m in Australian venture
The Australian government has announced plans to provide venture capital funds with up to A$100 million ($102 million) of capital via its Innovation Investment Fund (IIF) program.
The Founders Fund plans Australian startup fund
US venture capital firm The Founders Fund is reportedly planning to create a vehicle which will invest in Australia-based startup companies.
Hedge funds buy more of Nine's senior debt - report
A group of hedge fund investors has reportedly purchased about A$130 million ($133 million) worth of senior debt in CVC Asia Pacific-owned Nine Entertainment from BNP Paribas and Commonwealth Bank of Australia (CBA).
Advent makes first close of Advent 6 fund
Australia and New Zealand-focused Advent Private Capital has held the first close of its Advent 6 fund, and has confirmed commitments of nearly A$100 million ($102.3 million).
PEP raises bid for Spotless
Pacific Equity Partners has upped its takeover bid for Australian cleaning services firm Spotless to A$711 million ($727.7 million) from A$700 million, in an attempt at coaxing the company that has twice rejected its private equity suitors.
Private Equity Professional of the Year – Peter Wiggs
“It's been quite a year,” Peter Wiggs reflected as he collected the prize for Private Equity Professional of the Year at the 2011 Asian Private Equity & Venture Capital Awards.
KKR offer spurned by Transpacific
Private equity giant KKR has been rejected in its eleventh-hour attempt to subscribe to Australian waste manager Transpacific Industries Group's capital-raising initiative.
GE boosts CHAMP-backed Accolade with $234m loan
European lender GE Capital has provided Australia’s Accolade Wines, owned by CHAMP Private Equity, with a GBP150 million ($234 million) cross-border financing facility.
Centro to launch trust to avoid collapse
The financial backers of distressed Australian real estate owner Centro Properties Group have agreed to create an A$4.4 billion ($4.3 billion) listed property trust called Centro Retail Australia in order to keep the company afloat.
Archer, Ironbridge exit iNova Pharmaceuticals for $690m
Archer Capital and Ironbridge Capital have exited iNova Pharmaceuticals to Canada’s Valeant Pharmaceuticals in a deal worth up to A$700 million ($690 million). Valeant will pay A$625 million up front plus a further A$75 million based on the success...
CHAMP-backed Blue Star hires Unitas’ Philip Bower
Blue Star, the New Zealand printing firm owned by CHAMP Private Equity, has hired Unitas Capital's Phillip Bower as its new managing director.
Lenders ‘will reject debt plan’ for CVC-backed Nine
CVC Asia Pacific's proposed debt restructuring plan for its portfolio company Nine Entertainment is expected to be rejected, following talks between the private equity firm and lenders on Friday.
Lazard acquires minority stake in 2XU
Lazard Australia Private Equity has acquired a significant minority stake in sports apparel brand 2XU.
Spotless rejects PEP's $700m takeover offer
Australian cleaning services company Spotless Group has rejected Pacific Equity Partners’ (PEP) A$698.3 million ($702 million) takeover offer, branding the bid as too low.
Australian private equity continues to outperform public markets - AVCAL
Australian private equity continues to achieve better returns than the country’s stock markets, according to research cited by the Australian Venture Capital Association (AVCAL).
PEP eyes Spotless buyout - report
Pacific Equity Partners (PEP) is reportedly looking to acquire Australian cleaning services company Spotless Group for as much as A$700 million ($715 million), coming months after the ASX-listed company rejected Blackstone’s A$657 million bid.
Archer sues UK's Sage Group over MYOB deal
Archer Capital has filed an A$130 million ($133 million) suit against British software company Sage Group for damages related to its decision to end acquisition talks for Australian software maker MYOB.
TPG and Carlyle circle MCAG’s Regis
TPG Capital Partners and The Carlyle Group are said to be interested in buying Australia’s second-largest private care home operator, Regis Group.
Quadrant sells Australian jeweler to Indian trade player
Quadrant has sold its Australian portfolio company The Jewellery Group to M Suresh Group DMCC, a global jewelry maker based in Mumbai.
Australian PE investment at ‘highest level for three years’
Private equity and venture capital firms contributed A$3.6 billion ($3.7 billion) of capital to Australian companies this year, representing the highest amount invested for three years.
PEP invests $670m in SCA's Australasian arm
Pacific Equity Partners (PEP) has invested $670 million in a joint venture with Svenska Cellulosa Aktiebolaget (SCA) to develop the company’s Australasian arm, SCA Hygiene Australasia.
Navis acquires marketing units from Australia's Photon Group
Navis Capital Partners has purchased the field marketing and retail units of Australian marketing services firm Photon Group for $146.5 million, valuing the company at 7x EBITDA. According to Photon, the completed transaction would leave the company debt...
Quadrant-backed Summerset struggles on trading debut
Summerset Group, the New Zealand retirement village operator owned by Quadrant Private Equity, saw its stock open above the IPO price of NZ$1.40 on Tuesday, although it closed marginally below it. The price slumped a further 2.84% to NZ$1.37 on Wednesday.
Anchorage exits NZ Burger King to Blackstone
It's a good time to be targeting turnarounds in Australasia. Private equity firms, hedge funds and investment banks are pursuing a host of opportunities in the consumer segment where companies have been hit hard by the seize-up in spending that followed...