Exit
Carlyle completes China Pacific exit, takes total sales value past $5b
The Carlyle Group has completed what is said to be its largest-ever cash exit globally, selling the last of its interest in China Pacific Insurance for $796 million. The private equity firm has accumulated more than $5 billion through a series of block...
Cerberus begins Aozora exit with $1.8b sell down
Cerberus is to sell the bulk of its 58% holding in Japan's Aozora Bank through a public market sale that could generate up to JPY158.1 billion ($1.8 billion). The US firm's stake would fall to 8%.
Wanxiang-backed fund exits D&R to strategic buyer
Summit Strategic Investments, a private equity fund controlled by Chinese auto parts manufacturer Wanxiang Group, has exited US-based D&R Technology to CTS Corporation.
Warbug Pincus to exit India’s WNS Global – report
Warburg Pincus is reportedly in talks with The Carlyle Group, KKR and Baring Private Equity Partners India to sell its 29% stake in business process outsourcing (BPO) firm WNS Global.
China to see record PE deal flow in 2013 – PwC
China is likely to see record highs in terms of private equity deal volume and value in 2013, according to PricewaterhouseCoopers, as a “perfect storm” of turmoil in the global economy and a slowing domestic economy allows investors to target larger-scale...
Carlyle exits Japan’s Qualicaps to Mitsubishi Chemical
The Carlyle Group has exited its holding in Qualicaps, a supplier of pharma-grade capsules, to Mitsubishi Chemical Holdings for JPY55.8billion ($639 million).
India webinar: Relighting the fire
Investor sentiment toward Indian private equity has weakened considerably over the last year. AVCJ, supported by KPMG, hosted a webinar in December at which industry leaders assessed the various challenges
Actis exits Xiabu Xiabu in secondary sale
In the past 12 months we have seen a 10-fold increase in secondary sales in China by value, but it is unwise to read too much into the spike: 80% of the $2.9 billion total came from Goldman Sachs selling its minority interest in Industrial and Commercial...
Navis, Rabo exit Thai duck processor
Navis Capital Partners and Rabo Capital have exited Thai duck processing firm Bangkok Ranch, plus its Dutch subsidiary Duck To Holdings, to a consortium led by the companies’ founders. The deal values the combined assets at THB5.7 billion ($188 million).
Taiwan's Chinatrust in talks to buy Tokyo Star Bank - report
Chinatrust Commercial Bank, one of Taiwan's largest commercial banks, is reportedly in talks to acquire Tokyo Star Bank for JPY50 billion ($582 million). Tokyo Star's shareholders, which include Lone Star Funds, have previously struggled to find interested...
Zoomlion's PE backers exit CIFA holdings for $236m
Chinese construction equipment maker Zoomlion has paid $236 million for equity interests held by Hony Capital, Goldman Sachs and Mandarin Capital Partners in the business unit that was used to buy Italy’s Compagnia Italiana Forme Acciaio (CIFA) in 2008.
CHAMP Ventures exits Australian Portable Buildings
CHAMP Ventures has agreed to sell Australian Portable Buildings (APB) to two Canadian companies, Black Diamond Group and Britco, for A$72.5 million ($75.2 million). The Australian private equity firm acquired a near 80% stake in the company in February...
Carlyle relists Chimney, completes partial exit
The Carlyle Group has completed a partial exit from Japanese restaurant chain Chimney having relisted the company on the Tokyo Stock Exchange three years after taking it private. It is the private equity firm’s first IPO in Japan this year, having abandoned...
Templeton fully divests second emerging markets fund
Franklin Templeton has exited all the investments held in its second emerging markets fund, which was established in 2005 and had a corpus of $132.5 million. The vehicle has generated a net IRR of 34.3% and a money multiple of 2.1x.
Abraaj exits Thai restaurant chain Hot Pot after IPO
The Abraaj Group has exited restaurant chain Hot Pot after taking the company public on the Stock Exchange of Thailand in September. Hot Pot sold 101.9 million shares at THB2.80 apiece, raising THB285.3 million ($9.3 million), in an offering that was...
IFC exits India's Kanoria Chemicals
International Finance Corporation (IFC), the World Bank's private investment arm, has sold its 10.88% stake in India’s Kanoria Chemicals, exiting at a small profit.
PE-backed Bharti Infratel IPO oversubscribed
The $830 million IPO of Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, was oversubscribed by investors on Thursday. The intended flotation – which has been mooted for more than a year – will be the country’s largest...
Carlyle plans partial exit from Kaisa – report
The Carlyle Group is reportedly selling part of its holding in Hong Kong-listed Chinese real estate developer Kaisa Group for up to $67 million.
Actis exits hotpot chain Xiabu Xiabu to General Atlantic
Actis has exited Chinese hotpot chain Xiabu Xiabu to General Atlantic after an investment period of four years.
2012: That was the year that was
The broad trends and particular highlights of private equity fundraising, investment and exit activity in Asia
Predictions for 2013
Growth capital, buyouts, public and private exits, secondaries and new frontiers – private equity professionals from Asia and beyond predict the future
Sutherland Global Services to acquire Apollo's PE-backed BPO arm
Sutherland Global Services, a US-based business process and technology management services, has signed a definitive agreement to acquire Apollo Health Street (AHS), Apollo Hospitals’ healthcare business process outsourcing (BPO) arm. The company is...
GPs see more secondary deals, stress entrepreneur alignment – AVCJ India Forum
The Indian private equity industry is now diversifying its exit channels in the light of a conspicuous lack of public market deals, GPs told the AVCJ India Forum. Secondary transactions could be an alternative, but alignments with entrepreneurs is the...
PE-backed AAG Energy pulls Hong Kong IPO
Asian American Gas (AAG) Energy, a Chinese natural gas producer backed by Warburg Pincus and Baring Private Equity Asia (BPEA), has postponed its Hong Kong IPO due to challenging market conditions. The company started pre-marketing for the up to $200...