PEP-backed REDgroup faces covenant setback
Just months after it was touted as a strong candidate for a public float, private equity-backed New Zealand book retailer REDgroup Retail is expected to breach two out of three of its banking covenants, due to its inability to pay back lenders under the weight of its A$175 million ($157.8 million) debt, according to reports.
REDgroup, which counts Pacific Equity Partners as a major investor since 2004, with two of the firm’s executives sitting on its board, reportedly earned A$19.5 million ($17.6 million) of pre-tax profits...
More on Australasia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.