Articles by Paul Mackintosh
Lombard exits Thai restaurant S&P
Lombard Investments has announced its exit from its stake in S&P Syndicate, a Thai restaurant and bakery chain described by Lombard as the world's biggest, realizing a 2.5x return on the fund's original 2005 investment.
Blackstone may invest Reliance towers
The Blackstone Group has formed a consortium with US cellular tower operator Crown Castle International to bid for Reliance Infratel, the tower division of Reliance Communications, Indian's Number Two cellular provider, backed by billionaire Anil Ambani....
Nomura may partner MBK on KEB as StanChart withdraws
Leading Japanese brokerage and financial group Nomura Holdings is discussing a partnership with regional buyout firm MBK Partners to make a joint bid for Lone Star Funds’ 51.5% stake in Korea Exchange Bank, expected to go for $3.5-4 billion.
Coller Barometer shows slumping returns, soaring Asia
The latest edition of the Coller Capital Global Private Equity Barometer, polling 110 LPs worldwide, found respondents registering the full aftermath of the GFC, with the lifetime returns on their portfolios falling dramatically.
Results, however volatile, in China
According to the recent AVCJ Private Equity and Venture Capital Report China 2010, around $12.9 billion was invested into the PRC over 2009, accounting for just under 30% of all private equity investment in Asia, China’s highest total ever by market share....
WL Ross exits SpiceJet at a premium
Leading US investor Wilbur Ross and his flagship investment group WL Ross & Co. have exited from the 30% stake held since 2008 in Indian budget airline SpiceJet. The exit price was $127 million, yielding a 58% profit after just two years.
Carlyle Contract Aviation win
The Carlyle Group has consummated its extended pursuit of Contract Aviation Industries with an A$350 million ($291 million) buyout offer for the Australian aircraft and helicopter leasing company, which originally planned to launch an IPO in late March...
Asia Pacific: No longer far away
Despite predictions by some forward-looking industry figures that China may move ahead to supplant the US within a couple of generations as the world’s biggest private equity market, the US remains the fulcrum of global private equity.
Asian private equity – size does matter?
As a house publication for an industry that was little understood and less visible throughout all but its most recent history in Asia Pacific, AVCJ has long leaned towards the optimistic in its portrayal of the impact of private equity in the region....
Navis exits Linatex to Weir Group
Navis Capital Partners has announced its exit from its 2005 investment into Linatex, a Malaysia-headquartered specialist rubber manufacturer supplying the mining and sand/aggregates industries, through a trade sale to The Weir Group for $172.5 million....
Malaysia launches $6.1 billion fund for priority projects
The Malaysian government has announced the planned formation of an MYR20 billion ($6.1 billion) Facilitation Fund to support private sector investment in the country, providing infrastructure and assistance via grants, offtake agreements or similar mechanisms....
Ross flies out of SpiceJet
Leading US investor Wilbur Ross has exited from the 30% stake his WL Ross & Co. investment group held in Indian budget airline SpiceJet for $127 million, yielding a substantial profit after just under two years in the asset.
Fosun, A Capital co-invest Club Med
A Capital Asia, the Hong Kong-based private equity and financial advisory firm, has announced a PIPE co-investment with Fosun, China's largest privately-held conglomerate, in Euronext-listed Club Méditerranée (Club Med), with Fosun picking up a 7.1% stake...
SBI in new round for Quark Pharmaceuticals
Japan's SBI Holdings Group, the investment conglomerate behind the SoftBank family of funds, has made a further commitment of $10 million to investee company Quark Pharmaceuticals, a Californian developer of RNAi-based drugs.
Agnellis' Exor plans Asia private equity JV with Jardine, Rothschild
Exor SpA, the Italian industrial holding company controlled by the Agnelli family behind Fiat and other leading businesses, is planning a private equity joint venture with Jardine Matheson Holdings and private bank NM Rothschild & Sons, focusing primarily...
StanChart rules out KEB move
Standard Chartered has indicated that it will not be pursuing a bid for Korea Exchange Bank (KEB), further dampening expectations of a highly contested auction for Lone Star Funds' 51% stake in the asset.
MVCA AGM appoints Hussain chair
The Malaysian Venture Capital & Private Equity Association (MVCA) has just held its AGM, electing its new executive and management committees, including Darawati Hussain, Head of CIMB Private Equity & Venture Capital, as chairman.
KEB auction cooling as ANZ commitment flags
The sale of Lone Star Funds' 51% stake in Korea Exchange Bank (KEB) appears to be losing momentum, as hitherto lead contender Australia and New Zealand Banking Group Ltd. has yet to submit a formal bid for the stake, which could fetch up to $4 billion....
New suitor for Primus investee EON
Malaysian lender Affin Holdings has sought regulatory permission to start discussions with shareholders of EON Capital, including 20.2% stakeholder Primus Pacific Partners, for a possible bid for the company.
CVC hires Lee in Seoul
CVC Capital Partners has announced the appointment of Randall Lee, previously MD at Eugene Asset Management and formerly director at Lone Star Advisors in Seoul, as MD with its Korea team.
S3 Redwood announces Chiang for MD
OTC-quoted S3 Investment Company, a US investment banking and financial advisory firm seeking to tap the PRC market, has announced the appointment of Richard Chiang as MD of its Redwood Asia Fund, a growth capital private equity fund targeting opportunities...
Caution: Lower returns ahead?
Recently, as astute readers will remember, the EMPEA/Coller Capital Emerging Markets Private Equity Survey showed great expectations among LPs in emerging markets private equity funds.
Temasek discusses Indian roads fund
Singapore SWF Temasek Holdings is in talks with Indian authorities to create a fund of up to $2 billion to finance opportunities in the Subcontinent's roads and transport sector, according to Kamal Nath, the country's Minister for Road Transport and Highways....
HSBC PE to spin out
HSBC has announced that it is having internal discussions about the prospective spinning out of its private equity units, including HSBC Private Equity Asia and HSBC Asian Ventures, through a series of MBOs, following growing regulatory and financial...