Articles by Susannah Birkwood
Citigroup sells $1.9b stake in Carlyle-backed HDFC
Citigroup has sold its 9.85% stake in India’s largest mortgage lender Housing Development Finance Corp (HDFC) for $1.9 billion. The deal comes three weeks after The Carlyle Group sold part of its stake in the company for a 2x money multiple.
Providence-backed WTC bolts on USM Events
World Triathlon Corporation (WTC), the Australian athletic events organizer owned by Providence Equity Partners, has acquired event management company USM Events.
IDFC PE injects $30m into Staragri Warehousing
Infrastructure investor IDFC Private Equity has led a INR1.5 billion ($30 million) funding round for Indian agri-services provider Staragri Warehousing and Collateral Management.
Red Fort boosts 3C Gurgaon project with $30m
Private equity firm Red Fort Capital Advisors has injected INR1.5 billion ($30 million) into a residential project designed by developer 3C Company in New Delhi, India.
MyFarm launches listed dairy fund
New Zealand dairy farm investor MyFarm Asset Management has launched a specialist investment fund which aims to raise NZ$75 million ($62 million), partly through an IPO on alternative securities exchange Unlisted.
Operating partners: The social network
Operating partners now form the backbone of most private equity firms, in a variety of different guises. Samena Capital’s take on this concept recognizes the importance of relationships in Asia
Paracor to launch $200m real estate fund
Mauritius private equity firm Paracor Capital Advisors plans to launch an INR9.87 billion ($200 million) fund, which will invest in real estate projects in the seven top cities in India.
Blackstone, Carlyle agree $4b Reliance Infratel buyout
The Carlyle Group and The Blackstone Group have signed a term sheet to buy up to 95% of Reliance Communications’ telecoms tower unit, Reliance Infratel.
Westbridge, Intel in $15m July Systems round
Westbridge Capital, the Indian private equity firm spun out of Sequoia Capital, has participated in a $15 million round of funding for US mobile application platform provider July Systems. Technology-focused investor Updata Partners led the investment,...
CVC-backed Cellnet on hunt for tech bolt-ons - report
Private equity firm CVC has reportedly begun searching for tech start-ups to bolt on to its Australian mobile accessories distributor, Cellnet.
L Capital plans $1b Asia fund
L Capital Asia, the private equity arm of French luxury goods conglomerate LVMH, could start raising a new fund of more than $1 billion this year.
MBK's CNS exit stalled for third time
MBK Partners’ exit from Taiwanese media group China Network Systems (CNS) may again face delays, as regulators have asked the buyer to provide more information about intentions for the asset.
NVP channels $15m into Manthan Systems
Norwest Venture Partners (NVP) has led a $15 million Series C funding round for Indian business intelligence and analytics solutions provider Manthan Systems.
IDG, Accel back GlamSmile Asia with $7m
IDG Capital Partners and Accel Partners have jointly invested $7 million for a 31.4% stake in GlamSmile Asia via a capital increase and the provision of replacement capital.
FGPI gives $41m cash boost to Aptuit Laurus
Fidelity Growth Partners India (FGPI), the India-focused the private equity arm of Fidelity Worldwide Investment, has invested INR2 billion ($40.6 million) in pharma company Aptuit Laurus.
CPPIB in $1.8m mall deal with Australia's Westfield
Canada Pension Plan Investment Board (CPPIB) has bought a 45% stake in a portfolio of 12 US malls from Australian shopping mall owner Westfield Group for around $1.85 billion. It is CPPIB’s biggest real estate investment to date.
IDG bets on potential e-commerce consolidator
Survival of the fittest is a concept that applies to almost every ambit and rings particularly true in the field of Indian e-commerce of late. Last week Flipkart.com, the country’s largest online retailer, backed by Tiger Global Management and Accel Partners,...
Profile: Batavia's Patrick Alexander
Patrick Alexander has been in Asia longer than the private equity industry itself. His experiences in Indonesia span Suharto, the Asian financial crisis and the country’s gradual rebirth
IDG, SAIF inject $14m into Firstcry.com
IDG Ventures India and SAIF Partners have led a $14 million Series B round for Indian e-commerce start-up Brainbees Solutions, which runs the First Cry and GoodLife websites. The deal is thought to be one of India’s biggest venture investments in a specialized...
VSG to facilitate LP direct investment in India
VSG Capital Advisors, a new investment bank, has been established in India to advise on domestic and cross-border deals. The move comes at a time when pension funds and sovereign wealth funds are tipped to raise their direct investment allocations to...
Unison nears $650m Showa Yakuhin Kako buyout - sources
Japanese private equity firm Unison Capital is reportedly in the final round of bidding for Showa Yakuhin Kako, a drug producer backed by Tokio Marine Capital.
CapAsia acquired by US hedge fund
Singapore-based private equity infrastructure investor CapAsia has been acquired by The Rohatyn Group (TRG), a US-based hedge fund focused on emerging markets.
Longreach considers En Tie Bank sale - sources
Japan-focused private equity firm Longreach Group is said to be weighing up the prospect of selling its majority stake in Taiwanese lender En Tie Commercial Bank.
NEA hires Carmen Chang as advisor
Venture capital firm New Enterprise Associates (NEA) has appointed Carmen Chang to the role of special senior advisor. Chang joins NEA from US law firm Wilson Sonsini Goodrich & Rosati (WSGR).