buyout
Exit timing, operations key to high-value Australia deals - AVCJ Forum
Acquiring a company at a high valuation means a PE firm has to draw more deeply on its operational expertise to turn a profit, but it is equally important to maximize returns by getting the exit timing right.
TPG reaches $6.5b first close on latest global fund
TPG Capital has reached a first close of $6.5 billion on its latest global fund. The vehicle, which was formally launched last October, has a target of $8 billion and a hard cap of $10 billion.
Bain soaks in hot spring opportunity
Along with conveyer belt sushi and lively karaoke nights, the hot spring visit is a uniquely Japanese pastime popular with both locals and, increasingly, those who visit the country.
KKR completes Japanese DJ equipment division purchase
KKR has completed its acquisition of Japanese electronics manufacturer Pioneer Corporation's DJ equipment division - Pioneer DJ.
Navis agrees Domestic Group medical equipment unit carve-out
Malaysia-based GP Navis Capital Partners has agreed to buy Domestic Medical Division (DMD), the cold chain medical equipment unit of Sweden's Domestic Group. The financial terms of the deal were not disclosed.
Bain launches $79m bid for Japanese mushroom producer
Bain Capital has launched a takeover bid for Tokyo-listed Yukiguni Maitake, a troubled Japanese mushroom producer, for as much JPY9.5 billion ($79.1 million).
Cool Japan joins consortium in $160m SDI Media purchase
The government-backed Cool Japan Fund has joined a consortium of Japanese investors, led by production company Imagica Roboto Holdings, to acquire a 100% stake in US subtitler SDI Media Group.
Australia buyouts: Downsizing
Bain Capital has completed two buyouts in Australia in the last five years. The first was a classic large-scale affair as accounting software firm MYOB was acquired from Archer Capital and HarbourVest Partners for around $1 billion in 2011. Three years...
Australia mining: Panning the value stream
In the midst of the commodities downturn GPs are still finding deals in mining services, although volatility can play havoc with execution. Better value might be found upstream, if you know where to look
Q&A: Pacific Equity Partners' Simon Pillar
Simon Pillar, managing director at Pacific Equity Partners (PEP), on the prospects for buyouts in Australia, selling assets to strategic buyers in Asia, and evolving LP attitudes towards co-investment.
Bain Capital agrees to pay $421m for Japan hot spring chain
Bain Captial has agreed to buy Japanese hotel and spa operator Ooedo-Onsen Holdings for JPY50 billion ($421 million), including debt.
Unison to exit Japan wine retailer Enoteca to Asahi
Japanese mid-market GP Unison Capital has agreed to exit wine retailer Enoteca to brewing giant Asahi Group. The terms of the deal were not disclosed.
Unitas Capital's Korea team to spin out
Unitas Capital's Eugene Suh and Jay Lee will spin out to raise a Korea-focused fund. They will take the four-person Seoul-based team with them.
PE-backed La Chapelle invests in China e-commerce platform
PE-backed ladies apparel manufacturer Shanghai La Chapelle has invested RMB200 million ($32 million) in Hangzhou Anshe E-Commerce, the business behind Chinese online fashion retailer QiGeGe, in exchange for a 54% stake.
Club Med battle ends with Fosun consortium victory
Shareholders in French vacation resort operator Club Méditerranée (Club Med) have accepted a EUR939 million ($1.1 billion) takeover offer from a consortium led by China's Fosun International, bringing the longest takeover battle in French history to...
Southeast Asia education: Top of the class?
With an emerging middle class willing to pay a premium for better services, Southeast Asian education has clear attractions. But investors seeking scale opportunities must pick their markets and strategies carefully.
Profile: Lunar Capital's Derek Sulger
In 1999, Derek Sulger turned his back on a career with Goldman Sachs to start a company in China. Fifteen years on, having founded mid-market consumer buyout firm Lunar Capital, he has no regrets.
Rocket Internet buys up Asia food delivery platforms
Online food delivery provider Foodpanda has acquired peers in seven Asian markets and become part of a global platform created by its parent, Rocket Internet.
China’s Heaven-Sent Capital to buy South African miner
Heaven-Sent Capital Management, a Chinese PE firm, has agreed to pay ZAR637 billion ($56 million) for South African gold producer Village Main Reef and plans to take the business private.
CITIC PE, Beijing Enterprises Water to buy majority stake in Jin Cai
CITIC Private Equity has teamed up with Beijing Enterprises Water Group to acquire a majority stake in Jin Cai Holdings, a Hong Kong-listed cigarette packaging manufacturer that wants to enter the clean energy space.
Carlyle makes $248m takeover bid for Hitachi metals unit
The Carlyle Group has made a tender offer to acquire Tokyo Stock Exchange-listed Hitachi Metals Techno, a second-tier subsidiary of Japanese conglomerate Hitachi, for JPY29.3 billion ($248 million).
Hahn & Co gets $1.9b for two funds
Christmas holidays are a rarity at Hahn & Co. The Korean buyout firm’s acquisition of Posfine, a slag powder business owned by steelmaker Posco, closed on December 30. The 2013 seasonal period was dominated by negotiations over a majority stake in Hanjin’s...
Longreach puts a ring on it
Is the spirit of romance ebbing away in Japan? Naoki Sawano, president of bridal jewelry specialist Primo Japan, suggested as much a couple of years ago. He held a trend among young people “to think of the proposal and the engagement ring as two separate...
Hahn & Co closes Fund II at $1.2b, raises $700m co-invest vehicle
Hahn & Co has reached a final close on its second South Korea buyout fund at the hard cap of $1.2 billion, and raised a separate $700 million co-investment pool to support the $3.6 billion acquisition of Halla Visteon Climate Control Corporation (HVCC).