Primavera Capital Group has invested $600 million in two subsidiaries of Envision Group, a China-based manufacturer of wind turbines, smart batteries, and renewable energy management systems.
WM Partners and Alternative Investment Capital (AIC) are looking to raise a JPY10 billion ($88 million) secondary fund that will primarily target LP positions in Japan-focused private equity funds.
Abu Dhabi Investment Authority (ADIA) has committed $400 million to Indonesia super app GoTo as the lead investor in a funding round ahead of the company’s much-anticipated IPO.
Everstone Group has exited its minority position in India-based design house Rita Kumur after domestic behemoth Reliance Industries moved to buy a 55% stake in the company.
Australia-based turnaround specialist Allegro Funds is targeting A$600 million ($449 million) for its fourth fund, more than twice what it raised in the previous vintage.
Japan’s regional banks have risen from a low base to become a meaningful LP constituency for local middle-market managers. Their staying power might be a function of broader industry consolidation
MBK Partners has agreed to buy five ocean theme parks in China – four operational and one under construction – from Hong Kong-listed Haichang Ocean Park Holdings for RMB6.53 billion ($1.01 billion).
Trustar Capital, formerly known as CITIC Capital Partners, has invested an undisclosed sum in Intramco, a Europe-based manufacturer of components used in electric vehicle (EV) charging.
Voting for the 2021 AVCJ Private Equity & Venture Capital Awards is now open and runs until November 2.
K Car, a Korean automotive marketplace created by Hahn & Company through the merger of SK Encar and Joy Rent a Car, has raised KRW336.6 billion ($285 million) in a domestic IPO.
China-based oncology drug developer Abbisko Therapeutics gained nearly 10% on its Hong Kong trading debut following a HK$1.75 billion ($225 million) IPO.
Hillhouse Investment, the buyout and growth capital unit of Asia-focused Hillhouse Group, has raised $5.2 billion for a growth equity fund, more than twice the original target.
Baring Private Equity Asia (BPEA) has secured a $3.2 billion loan to support its private equity platform with interest rate reductions linked to performance against a series of sustainability metrics.
Anchor Equity Partners has closed its fourth Korea and North Asia-focused fund with $1.6 billion in commitments after approximately five months in the market.
TPG Rise Climate, a climate-focused strategy under TPG’s global impact investment platform, has agreed to invest INR75 billion ($994 million) in the electric vehicle (EV) unit of India’s Tata Motors.
AVCJ’s daily bulletin will not be published on October 14 due to a public holiday in Hong Kong.
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Stonebridge Ventures, a Korean venture capital firm with more than KRW700 billion ($595 million) in assets under management, has filed to list on KOSDAQ.
Joe Bae, who was responsible for establishing KKR’s Asian operation, has been named co-CEO of the firm as co-founders Henry Kravis and George Roberts complete the handover to the next generation.
Key themes in China private equity fundraising, investment, and exits
MicroTech Medical, a China-based manufacturer of insulin pumps for diabetes sufferers that counts Lilly Asia Ventures (LAV) and Qiming Venture Partners among its investors, is looking to raise up to HK$1.98 billion ($254 million) in a Hong Kong IPO.
The Australia Business Growth Fund (ABGF) has made its first investment, committing A$15 million ($11 million) to local lithium-ion battery manufacturer 3ME Technology.