Indonesia
Carlyle completes first Southeast Asia deal
The Carlyle Group has made its first investment in Indonesia, reportedly buying a stake of around 25% in telecom towers operator Solusi Tunas Pratama (STP) for $100 million. The private equity firm confirmed to AVCJ that it had completed its debut transaction...
CVC appoints banks to run Matahari sale – report
CVC Capital Partners is said to have appointed CIMB, Morgan Stanley and UBS to manage the sale of its majority stake in Indonesia’s Matahari Department Store.
Standard Chartered’s financial sponsors head gets Indonesia role - report
The head of Standard Chartered’s financial sponsors group in Hong Kong, Sarab Bhutani, has reportedly been appointed co-head of wholesale banking for Indonesia. He will be responsible for deal origination and client coverage.
Affinity secures first Indonesia deal
Regional buyout firms have struggled to gain traction in Indonesia. In some cases, private equity investors have opened offices in Jakarta or Singapore and, years later, still haven’t a deal to their name. Affinity Equity Partners is no longer part...
Great expectations: Buyout firms in Southeast Asia
Global buyout firms are deploying more resources in Southeast Asia and expect to see stronger deal flow. But are there enough mid- to large-size transactions to go around, and will they come at reasonable prices?
Affinity completes debut Indonesia deal
Affinity Equity Partners has completed its first Indonesian investment, securing a significant minority stake in local auto services group Mitra Pinasthika Mustika (MPM) for about $100 million.
IFC to deploy up to $600m in Indonesia next year
International Finance Corporation (IFC), the investment arm of the World Bank, plans to deploy $400-600 million in Indonesia during the 2013 fiscal year, having committed $300 million to eight projects in 2012.
Yishan creates JVs to tap Indonesia real estate market
Yishan Capital Partners, a Southeast Asia-focused real estate investment and asset management firm, has formed two strategic joint ventures to improve its penetration of the Indonesia market. The Yishan team, which spent more than a decade investing in...
CVC considers Matahari share sale – report
CVC Capital Partners has reportedly asked bankers to advise on selling shares in Matahari Department Store, the Indonesian retailer it acquired two years ago for INR7.2 trillion ($616.3 million). It remains the largest ever private equity investment in...
Northstar, GIC in $200m Indonesian oil deal
Northstar Pacific Partners and Government of Singapore Investment Corporate (GIC) have reportedly invested $200 million in Triputra Agro Persada, an Indonesia oil producer. It isn’t the first time the two have co-invested in natural resources deal,...
Russia’s VTB Capital appoints Indonesia head
VTB Capital, the investment advisory arm of Russian financial services major VTB Group, has appointed Roger Suyama as head of Indonesia operations. This is part of the firm’s wider strategy to strengthen its presence in Asia Pacific and it comes as...
GREE Ventures makes first Southeast Asia investment
GREE Ventures has made its first Southeast Asian investment by leading the Series B funding round in PriceArea.com, a price comparison website in Indonesia. Sony’s So-net Entertainment and East Ventures, a new and an existing investor, respectively,...
Buyout firms progress in Indonesia healthcare auction - report
The Blackstone Group, Bain Capital, KKR and Abraaj Capital are said to have made it through to the second round of the auction process for a 20% stake in Siloam, Indonesia’s biggest private hospital firm. The deal is expected to be worth up to $300...
Navis profits from Pearson’s expansion drive
Pearson's M&A activity follows a familiar emerging markets theme. In May the education and publishing company bought GlobalEnglish, a cloud-based English-language learning specialist with 75% of its subscribers in Asia and Latin America.
Capsquare eyes early-stage Indonesia
There's little doubt that Indonesia is the flavor of the month in private equity circles at present, but questions remain over deal access. Information on private companies is sparse, local relationships rule, entrepreneurs are wary of selling equity...
Indonesia’s Capsquare achieves first close on debut fund
Indonesian GP Capsquare Asia Partners has reached a first close on its debut fund, having raised three-quarters of the capital required to meet its $75 million full target. A final close is expected in the fourth quarter of 2012, perhaps as soon as late...
Navis exits Indonesia education business to Pearson
Navis Capital Partners has exited the Indonesian arm of English-language education business Wall Street Institute (WSI) to Pearson. The global publishing and education company is paying $16.3 million for the asset, which represents a 10x return for Navis.
Creador takes proprietary route to MNC IPO
One of the biggest criticisms leveled at private equity firms that anchor IPOs is that LPs expect them to do proprietary investments. When Saban Capital and Creador Capital performed the anchor role for MNC Skyvision’s $228 million offering earlier...
Creador confirms MNC Skyvision investment
Creador Capital has confirmed it invested $28 million in Indonesian pay TV operator MNC Skyvision’s IDR2.15 billion ($228 million) IPO. The committed capital includes $13 million from a co-investor.
Indonesia caps foreign ownership of local banks at 40%
Foreign ownership of Indonesian banks will be capped at 40%, although exceptions will be made for listed banks with strong financial health and high levels of tier-one capital. On this basis, it appears that DBS Group’s $7.2 billion bid for Bank Danamon...
Saratoga aims for differentiation
When Saratoga Capital was preparing to launch its third fund in July 2011, the elephant in the room was Northstar Pacific Partners. A few months earlier Northstar closed its own third fund at $820 million. Would LPs still be keen on when Saratoga came...
VIDEO: Clifford Chance's Lee Taylor
Indonesia has aroused enormous interest among foreign investors but valuations remain an issue, according to Lee Taylor, a partner with Clifford Chance in Singapore. There have been huge dislocations between buyers and sellers generally since the global...
SE Asia media peaks PE’s interest
A year ago, global private equity firms stopped ignoring Southeast Asia’s media industry and put the sector on their priority list. What changed?
Saban, Creador anchor $228m MNC Skyvision IPO
Saban Capital Group and Creador Capital have acted as anchor investors in the IPO of MNC Skyvision, the largest pay TV company in Indonesia. The company, which began trading on the Indonesia Stock Exchange on Monday, raised IDR2.15 billion ($228 million)...