buyout
Advantage, Bain, Olympus in second-round bidding for Yayoi
Advantage Partners, Bain Capital and Olympus Capital have reportedly advanced into the second round of bidding for MBK Partners-owned Japanese accounting software developer Yayoi, which is expected to be one of the biggest sales in the market this year.
Bain acquires Japan's Skylark for $2.1b in equity
Bain Capital has officially acquired 100% of Japanese restaurant chain Skylark from Nomura Principal Finance for an equity value of JPY160 billion ($2.1 billion). It is the largest buyout in Japan since the onset of the global financial crisis.
Blackstone announces 3Q loss on drop in valuations
The Blackstone Group posted a loss of $341.9 million in the third quarter compared with a $339.3 million profit a year earlier. The disappointing results came as the private equity firm saw an 11% drop in the value of its buyout holdings amid ongoing...
Yahoo founder refuses to rule out sale to Alibaba, private equity
Yahoo co-founder Jerry Yang has refused to rule out the possible sale of the company to Alibaba Group’s Jack Ma or to a private equity interests. “There are plenty of options,” he told a conference in Hong Kong Wednesday.
EQT, TPG funds reflect Asia’s PE power
Asia's growing significance in the private equity world was further confirmed in two separate fundraising events last week. First in Europe, where EQT Partners announced that Asia Pacific LPs were responsible for nearly one quarter of total commitments...
Corporate Japan looks for growth overseas
Japanese companies need to take on the world. Local private equity professionals at the 2011 AVCJ Private Equity & Venture Forum Japan conference in Tokyo, which I am chairing, see globalization as the major current theme for corporate Japan. Indeed,...
KKR, MBK bid for Samsung’s procurement arm
KKR and MBK Partners are among the bidders for a majority stake in iMarketKorea, Samsung Group’s procurement arm. Based on Tuesday’s closing share price, the asset is worth KRW372 billion ($326 million).
Affinity picks up 70% stake in Australia’s Primo Smallgoods
Affinity Equity Partners has finalized its acquisition of Australian meat products firm Primo Smallgoods in a deal that values the company at A$740 million ($758 million). Previous reports suggested that the valuation was at least A$900 million.
Blackstone buys NZ Burger King franchise from Anchorage
The Blackstone Group has agreed to buy Antares Restaurant Group, which operates the Burger King franchise in New Zealand, from Anchorage Capital Partners. Terms of the transaction were not disclosed.
WL Ross struggles to raise new fund
WL Ross & Co. has cut its target for its latest fund to $2-2.5 billion, having raised little more than one tenth of the $4 billion it set out to attract last year, The Wall Street Journal reported, citing people familiar with the situation.
Carlyle-led group buys into Asian cinema digital server provider
A consortium led by The Carlyle Group has purchased an 80% stake in GDC Technology, Asia’s largest cinema digital server provider. The investment was led by the $1 billion Carlyle Asia Growth Partners IV and the other participants included Yunfeng Capital,...
Asia buyouts struggle as banks clamp down on lending
Buyout deals in Asia are becoming more difficult as banks hold back on lending. Rising capital costs have made lenders wary of the risks tied to mispricing a loan, leaving private equity firms to increase the cash portion of buyouts.
Third Quarter 2011: Venture capital deals steal the spotlight as buyouts wane
Third quarter analysis: Early-stage deals gain traction in Asia; mixed messages on China fundraising; weak public markets see trade and secondary sales thrive
Bain set to acquire Japan's Skylark for $3.4b
Bain Capital is finally set to acquire Japanese restaurant chain operator Skylark from Nomura Holdings for approximately JPY260 billion ($3.4 billion) including debt, after more than six months of delays.
Bain gets $1.1b recapitalization loan for Japan's Bellsystem24
Bain Capital has completed a JPY87.5 billion ($1.1 billion) recapitalization for portfolio company Bellsystem24, a telemarketing firm specializing in call centers, according to Basis Point.
Tata Opportunities Fund makes second close at $550m
Tata Capital has completed the second close of its latest private equity vehicle, the Tata Opportunities Fund LP, at $550 million.
Blackstone claims capacity to invest up to $800m a year in India
The Blackstone Group has the capacity and ability to deploy $500-800 million ever year in India if the macroeconomic environment and other factors stay favorable, according to Akhil Gupta, who oversees the firm’s India operations.
Asia LPs are raising PE allocations, says Warburg Pincus’ Landy
Joseph Landy, co-president of Warburg Pincus, said that limited partners in Asia are maintaining or increasing their allocations to private equity on a percentage basis, despite the global economic downturn.
Carlyle, Blackstone heads paint bleak outlook for US economy
The Carlyle Group’s co-founder David Rubenstein and Stephen Schwarzman, CEO of Blackstone Group, were downbeat in their assessments of the US economy on Wednesday.
Dysentery delays Bain’s buyout of restaurant chain Skylark
Bain Capital’s acquisitions of Japanese restaurant chain Skylark from Nomura Principal Finance has been put on hold after an outbreak of dysentery led to the closure of 120 outlets in late August.
AXA buys $500m in LP interests from Mizuho – report
AXA Private Equity has agreed to buy LP interests worth $500 million from Mizuho Financial Group. The commitments concern about 20 US and European buyout funds managed by the likes of Blackstone Group, KKR, BC Partners and EQT Partners.
Global buyout firms warn of tightening credit markets
Henry Kravis, co-founder of KKR, said that private equity deals are becoming more expensive as debt markets tighten and the cost of capital goes up.