professional services
Japan's SmartHR raises $142.5m at $1.6b valuation
Japanese enterprise software supplier SmartHR has confirmed a JPY15.6 billion ($142.5 million) Series D round led by US-based Light Street Capital. It values the company at about $1.6 billion.
Blackstone buys International Data Group from China Oceanwide
The Blackstone Group has agreed to acquire International Data Group (IDG) from China Oceanwide Holdings for an enterprise valuation of $1.3 billion.
India's Urban Company closes Series F, hits $2.1b valuation
India’s Urban Company, a marketplace for in-home services from housekeeping to fitness training, has raised $255 million in Series F funding at a valuation of $2.1 billion.
Bain & Co names Australia PE head
Bain & Company has appointed James Viles as head of its Australia private equity practice, a newly created role.
Baring Asia exits SAI Global's assurance business
Baring Private Equity Asia is set to exit a significant part of Australia-based SAI Global, having agreed to sell the standards and assurance services business to UK-listed Intertek Group for A$855 million ($664 million).
TA buys Singapore corporate services provider, EQT exits
TA Associates has acquired a majority stake in In.Corp Group, a Singapore-headquartered corporate services provider, facilitating an exit for EQT.
Australia's SafetyCulture hits $1.7b valuation
Australian workplace safety platform SafetyCulture has achieved a valuation of A$2.2 billion ($1.7 million) following a A$99 million round led by Insight Partners.
Blackstone to cement control of India's Mphasis
The Blackstone Group is set to lift its controlling position in India-listed IT services provider Mphasis to 75% as part of a deal worth up to $2.8 billion.
Rising Japan exits staffing services business
Rising Japan Equity, a domestic private equity firm, has agreed to sell Progress, a staffing and contracting services provider, to listed staffing solutions business UT Group for JPY3.09 billion ($28.6 million).
Japan's J-Star partially exits jobs training service
Japan’s J-Star has exited a 20% stake in Aki-Japan, an employee training service provider for the local construction sector. It leaves the private equity firm with an 80% position.
Deal focus: Affinity to close JobKorea’s technology gap
When Affinity Equity Partners was drawing up plans for JobKorea, it found Seek’s product innovations in Australia a useful reference point. This gave context to a $795 million acquisition
Quadrant backs Australia's TSA, Livingbridge exits
Quadrant Private Equity has invested an undisclosed sum in TSA Management, an Australia-based project consultancy business, taking out existing backer Livingbridge in the process.
Private equity & cybersecurity: Dark clouds
From fraudulent drawdown notices to ransomware, private equity firms and their portfolio companies are increasingly vulnerable to cyber-attacks. Training and vigilance are paramount
COOs in Asia private equity: Horses for courses
The COO role is gradually becoming more prevalent in Asian private equity, but GPs struggle to find the right combination of financial skills and business acumen. The optimal candidate is often internal
US strategic to buy PE-backed Australia payroll business
Ceridian, a US-based human resources technology provider has agreed to acquire Australian payroll software specialist Ascender, setting up exits for Potentia Capital and Five V Capital.
CLSA partially exits Japan medical IT provider
CLSA Capital Partners (CLSA CP) has partially exited its position in NHOSA Corporation, a Japanese IT provider for dental clinics and medical institutions.
Riverside to buy Australian insurance broker
The Riverside Group has agreed to acquire a controlling stake in Australian disability insurance broker Altius from Sydney-listed AUB Group for A$57 million ($44.3 million) in cash.
Salesforce invests $15m in India's Darwinbox
Salesforce Ventures has invested $15 million in Darwinbox as part of the Indian staff management technology provider's latest growth round. It brings funds raised to date to about $35 million.
Sinovation's consulting unit hits $1b valuation with Series C
AInnovation, an artificial intelligence (AI) consulting business established by Sinovation Ventures, has joined the ranks of China’s AI unicorns following a Series C round of funding.
Deal focus: Everstone secures 3x return on outsourcing play
Everstone Group helps outsourcing specialist Everise adapt to the work-at-home realities of the day before exiting the business to Brookfield Asset Management
Deal focus: Japan GPs see upside in specialized staffing
CLSA Capital Partners’ sale of Japanese staffing services player Qit to Advantage Partners reveals enduring private equity interest in potentially shaky categories made sturdy by specialization
Everstone exits Singapore BPO business to Brookfield
Everstone Group has agreed to sell Everise, a business process outsourcing (BPO) company it formed through the amalgamation of several existing assets, to Brookfield Asset Management.
CLSA sells Japan outsourcing business to Advantage
CLSA Capital Partners has sold Japan-based industrial sector human resources outsourcing business Qit to Advantage Partners for an undisclosed sum.
Australia HR start-up Flare raises $16m
KKR-owned accounting services providers MYOB has led a A$22 million ($16 million) Series C round for Australian HR technology start-up Flare.