Southeast Asia
Orix, Perigon to make partial exits from Air Asia X via IPO
Orix Corp. and Perigon Advisory will make partial exits from regional budget carrier AirAsia's long-haul subsidiary through an IPO that is targeting up to $370 million.
Navis plugs into Southeast Asia energy demand
Southeast Asia's hunger for energy cannot be overstated. Of the region’s 600 million inhabitants, a staggering 160 million live without electricity. According to a report published last year by the National University of Singapore’s Energy Studies...
Angels say SE Asia ripe for 500 Durians
Dave McClure, Silicon Valley super angel and founding partner of 500 Startups, was on the road in Asia once again this month as part of his firm’s “Geeks on a Plane” (GOAP) tour. While this was not the first time the tech-focused venture capital...
Saratoga vehicle raises $151m in IPO, will invest with institutional fund
A vehicle containing legacy assets that predate Saratoga Capital’s institutional funds has raised $151 million through an IPO in Indonesia. Saratoga Investama Sedaya (SIS), which is controlled by the private equity firm’s founders, Sandiaga Uno and...
LPs to increase exposure to Malaysia, Indonesia - survey
Investors plan to boost their exposure to Indonesia and Malaysia over the next three years, according to the latest edition of Coller Capital’s Global Private Equity Barometer.
CVC eyes IPO for Indonesian cable operator LinkNet - report
LinkNet, the Indonesian cable television and broadband operator in which CVC Capital Partners holds a 49% stake, is reportedly targeting an IPO this year. It would be the second share offering in 2013 by one of the private equity firm’s Indonesia-based...
DBS buys more time for Bank Danamon control deal
DBS Group has extended the deadline for it to secure majority control of Indonesia’s Bank Danamon by two months to August 1. The bank wants to acquire the 67.4% stake in Danamon owned by Temasek Holdings – also DBS’ controlling shareholder – with...
India’s Aavishkaar to close VC Fund II at $95m, raise SE Asia fund
Aavishkaar Venture Management, which funds enterprises in India’s rural areas, is to close the Aavishkaar II fund at $95 million. Investors include the International Finance Corporation, Cisco, KfW, FMO, CDC Group and Rianta Capital, a London-based...
PE firms struggle with rich valuations in Southeast Asia – survey
Increased competition for deals and buoyant equity markets have pushed up valuations in Southeast Asia, prompting private equity investors to hold back, according to a new survey. While the region is becoming more important in investment strategies, returns...
500 Startups to launch Southeast Asia fund
The founder of Silicon Valley early-stage investor 500 Startups, David McClure, is looking to launch a $10 million micro fund targeting Southeast Asia.
Navis acquires Malaysia's HG Power
Navis Capital Partners has invested MYR25- 40 million ($8.1 million- $13 million) in Malaysian power company HG Power Transmission for a more than 50% stake.
Warburg Pincus makes debut Vietnam investment
Warburg Pincus has made its first investment in Vietnam, leading a consortium that will pay $200 million for a 20% stake in the retail property platform of Vingroup, the country’s largest private-sector real estate operator.
Indonesia’s MPM to boost auto rental exposure, preps IPO
Mitra Pinasthika Mustika (MPM), the Indonesian motorcycle distributor in which Affinity Equity Partners and Saratoga Capital invested around $100 million last year, is looking to boost its car rental business. The comes as the company prepares to raise...
Rocket Internet’s Asian fashion startup raises $100 million
Zalora, a Hong Kong-based online fashion and beauty retailer owned by German VC firm Rocket Internet, has closed a $100 million round of financing from Investment AB Kinnevik, Verlinvest and return backers Summit Partners and Tengelmann Group - which...
Capital International backs Philippines media conglomerate
Capital International has invested PHP2.5 billion ($60.7 million) in ABS-CBN Corporation, the Philippines’ largest media and entertainment company. The funding will be used to support ABS-CBN’s platform expansion, including boosting its digital terrestrial...
SCPE invests $75m in Asian gas project developer
Standard Chartered Private Equity (SCPE) has invested $75 million in Asia Pacific gas specialist Energy World Corporation (EWC) through a corporate exchangeable bond issue. The capital will be used to support liquefied natural gas (LNG) projects in the...
Navis commits up to $150m to SE Asia e-waste specialist
Navis Capital Partners has acquired a majority interest in TES-Envirocorp, a Singapore-headquartered electronic waste (e-waste) company. According to sources familiar with the transaction, the GP invested $100-150 million.
Armstrong cleantech fund makes debut investment in Thailand
Armstrong Asset Management has agreed to invest in a Thai solar energy project, marking the first deal from its Southeast Asia cleantech fund, which is expected to reach a final close of $150 million in August. The private equity firm will take a 60%...
Accion backs Asian financial services start-ups
Non-profit microfinance pioneer Accion will provide funding to three Asian start-ups through its $10 million seed initiative, Venture Lab. Singapore-based Coda Payments, Demyst Data and Indian education access provider Varthana are among the five businesses...
Carlyle confirms appointment of Indonesia head
The Carlyle Group has confirmed the appointment of Rajiv Louis as managing director with responsibility for investment activity in Indonesia. He previously spent nearly 10 years at UBS, most recently serving as managing director and country head in Indonesia...
JBIC to commit $25m to Mizuho ASEAN fund
The Japan Bank for International Cooperation (JBIC) will commit up to $25 million to Mizuho's new ASEAN-focused private equity fund.
Creador rushes to launch Fund II
“Despite our experience, and the fact we spent the last 12 years investing in India with success, I think a lot of people saw us as a first time fund,” says Brahmal Vasudevan, founder and CEO of Creador, recalling the difficulty his firm had in reaching...
OCBC takes part in $116m debt financing for Indonesian toll road operator
Singapore's Oversea-Chinese Banking Corporation (OCBC) has completed IDR1.13 trillion (S116 million) in convertible debt financing for Indonesian toll road operator Baskhara Utama Sedaya (BUS).
Creador sets $250m target for Fund II
Creador has launched its second fund, targeting $250 million, barely four months after closing its debut vehicle. The private equity firm, which focuses on India and Southeast Asia,expects to reach a first close in August.