CVC Capital Partners is set to make a partial exit from Rizal Commercial Banking Corporation (RCBC) as Cathay Life Insurance confirmed it had agreed to buy a 20% stake in the Philippines lender for PHP17.92 billion ($400.5 million).
Financials | 17 Dec 2014 |
Chinese VC-backed mobile dating app Momo gained 26% on its first day of trading on NASDAQ following a $216 million IPO.
Exits | 12 Dec 2014 |
Mandarin Capital Partners has sold its 40% stake in a European credit ratings agency to joint venture partner Dagong Global Credit Rating. China-based Dagong is now the sole owner of the asset.
Exits | 11 Dec 2014 |
Xiabu Xiabu, a Chinese hotpot chain backed by General Atlantic, is seeking to raise up to HK$1.13 billion ($146 million) through a Hong Kong IPO.
Consumer | 11 Dec 2014 |
Tang Yan, CEO and founder of Chinese VC-backed mobile dating app Momo - which is about to list in the US - has been accused of misconduct while employed by NetEase, his former place of work.
Greater China | 11 Dec 2014 |
The Carlyle Group and Unison Capital are to exit their stake in Covalent Materials, a Japanese semiconductor materials manufacturer, to US ceramics group CoorsTek.
North Asia | 10 Dec 2014 |
Zoomlion Heavy Industry Science & Technology, China’s biggest construction equipment marker, has agreed to buy back a 2.19% stake in itself from Hony Capital for RMB843 million ($136 million).
Greater China | 10 Dec 2014 |
The Carlyle Group has acquired a 54.85% stake in India-based publishing and technical services provider Newgen KnowledgeWorks for $32.8 million via a secondary transaction. This is the second time it has invested in the company.
Buyouts | 09 Dec 2014 |
EQT has sold its 65% stake in Chongqing New Qinyuan Bakery, a retail bakery chain based in southwest China, to Swire Foods, a subsidiary of Swire Pacific.
Exits | 09 Dec 2014 |
Hainan Mining, an iron ore miner owned by Chinese conglomerate Fosun International, is set to raise RMB1.9 billion ($308 million) through an IPO in Shanghai.
Greater China | 08 Dec 2014 |
Sadbhav Infrastructure Project (SIP), an Indian road and highways project developer, is looking to raise at least INR6 billion ($97 million) through an IPO, providing a partial exit for PE backers Xander and Norwest Venture Partners.
South Asia | 08 Dec 2014 |
Estia Health, an Australian aged care provider backed by Quadrant Private Equity, saw its stock open at a 13% discount to the IPO price on the first day of trading in Sydney.
Exits | 05 Dec 2014 |
Capital Today, DST Advisors and Hillhouse Capital Management have raised $618.9 million by selling a portion of their shares in JD.com, the Chinese online retailer that went public earlier this year.
Exits | 04 Dec 2014 |
Updating your subscription status
The outlook for the Australasian market is positive as a record number of IPO exits have provided strong returns for investors and has proven that PE can outperform listed equities and compete with global divestment figures. Fundraising in terms of dollar value has been high but the number of PE funds successfully raising new commitments has declined as investors flock to the best in class.
This is an intriguing time for Australasian PE as the industry continues to mature. GPs must evolve, diversify and display skills to drive value in a low-growth environment and justify future commitments when competing on a global state by achieving world-class results from current deals and exits.
4-6 March 2015, The Westin, Sydney
The AVCJ Indonesia Forum is back for a fourth year! Mark your calendars now and join us on March 24th, 2015 in Jakarta at Indonesia's longest running, largest and most prestigious industry gathering.
The market is relatively optimistic as a new government that is viewed favourable to a balanced investment arena is introduced and we see an increase in deal activity. The hopes for a flourishing PE market amid the euphoria of 2012 has not yet been realised but the potential is still present and now may well be the time for the country to take off in its own right and increase its reputation as THE hot market in Southeast Asia.
24 March 2015, Grand Hyatt, Jakarta