Buyouts
Singapore's GLP accepts $11.5b Hopu, Hillhouse-backed buyout offer
Singapore-listed warehouse operator Global Logistic Properties (GLP) has accepted a buyout offer from a consortium including Hopu Investment and Hillhouse Capital that values the company at S$15.9 billion ($11.5 billion).
HarbourVest raises $1.75b for co-investment fund
HarbourVest Partners has closed its fourth global co-investment fund at $1.75 billion, having raised the hard cap from $1.5 billion.
2Q analysis: All about Japan
Japan’s middle-market in fundraising flurry; Toshiba fails to make the second-quarter cut, but Asia buyouts still boom; public markets, particularly in Japan, deliver strong exits as trade sales stutter
PE in Southeast Asia: Buyout blues
Private equity interest in Southeast Asia has yet to translate into a significant number of buyout deals. The region's sturdy economic fundamentals may prolong the stagnation
China PE challenge is micro, not macro - AVCJ Forum
Navigating micro intricacies rather than addressing macro uncertainties is the true challenge for private equity investors in China, industry participants told the AVCJ USA Forum.
Affinity submits $1.6b offer for Australia's Vocus
Affinity Equity Partners has submitted a bid to buy Australian high-speed broadband internet provider Vocus Group for about A$2.2 billion ($1.6 billion), matching an offer made by KKR.
KKR's credit unit offers $499m for Australia's Pepper
KKR Credit Advisors (KCA) has made a A$655 million ($499 million) offer for Australian mortgage lender and distressed debt servicer Pepper Group.
Liberty House beats Korean PE consortium to Arrium deal
A group led by UK-based industrials and metals group Liberty House has agreed to acquire distressed Australian mining giant Arrium, beating out a private equity-backed Korean consortium.
VIG pays $127m for majority stake in Korean skincare player
VIG Partners has agreed to buy a 73% stake in Press & Converting, a Korea-based manufacturer of facial masks primarily used for skincare, in a deal worth KRW146 billion ($127 million).
Denham terminates $42m takeover of Australian miner
Denham Capital has withdrawn from a commitment to fully acquire Cradle Resources that had valued the Australia-listed mining company at A$55 million ($42 million).
Q&A: BDA's Paul DiGiacomo
Paul DiGiacomo, a managing director with Asia-focused advisory firm BDA Partners, discusses the latest trends in M&A, from increasingly sophisticated Chinese buyers to more willing multinational sellers
Cassia Investments backs buyout of Shanghai Tang
Hong Kong-based private equity firm Cassia Investments has supported an acquisition by Italian entrepreneur Alessandro Bastagli of fashion retailer Shanghai Tang from Swiss luxury goods company Richemont.
PE investors drop bids for Australia’s Fairfax
Hellman & Friedman, along with a consortium led by TPG Capital and including Ontario Teachers’ Pension Plan (OTPP), have withdrawn their bids to acquire Australia’s Fairfax Media.
KKR to buy majority stake in Australia's Dixon Hospitality
KKR has agreed to acquire a majority interest in Dixon Hospitality, which operates a portfolio of more than 40 food and beverage outlets across major cities in Australia. The capital will come from the GP's third pan-Asian fund, which closed earlier this...
PE investors back $402m Sinovac take-private
A consortium of private equity investors has agreed to privatize US-listed Chinese biopharmaceutical player Sinovac Biotech in a deal worth $401.8 million, bringing a contentious bidding process to an end.
Korean GP buys majority stake in Vietnam’s VNPT ePay
UTC Investment, a private equity firm backed by South Korean food producer Daesang Corporation, has finalized its acquisition of a 65% stake in VNPT ePay, the electronic payment arm of Vietnam’s VMG Media.
Western Digital, KKR resubmit bid for Toshiba memory unit
Western Digital and KKR have resubmitted an offer for Toshiba’s Nand flash memory business, despite the Japanese conglomerate last week naming a consortium featuring Bain Capital as the preferred bidder in the JPY2 trillion ($18 billion) deal.
AGIC-led consortium buys US pharma player
AGIC Capital, a private equity firm established in 2015 to focus on China-Europe cross-border investments, has secured its first deal in the US with an agreement to acquire pharmaceutical manufacturer Ritedose Corporation.
Creditors take control of PE-owned Gerard Lighting
A creditor consortium led by Investec and Bain Capital Credit (BCC) has assumed full control of Gerard Lighting, an Australian light fittings distributor owned by CHAMP Private Equity.
Japan buyout investors must consider post-deal positioning - AVCJ Forum
Private equity deal flow is increasing in Japan’s middle market, but buyers should be mindful that their responsibilities to sellers stretch well into the post-investment period, industry participants told the AVCJ Japan Forum.
Bain, INCJ consortium named preferred bidder for Toshiba chip unit
Japanese conglomerate Toshiba has selected a consortium led by the Innovation Network Corporation of Japan (INCJ) and including Bain Capital as the preferred bidder in the sale of its Nand flash memory unit, Toshiba Memory Corporation (TMC).
CLSA Capital invests in Japan beauty contact lenses maker
CLSA Capital Partners (CLSA CP) has invested an undisclosed sum in El Dorado Group, a beauty contact lenses manufacturer based in Japan and Hong Kong.
Portfolio: Partners Group and Guardian Early Learning
Now on its third PE owner, Guardian Early Learning Group is building its unique brand identity in Australia’s busy childcare sector. The key has been for each party to respect the strengths and needs of the other
Bolt-on acquisitions: Buying growth
Bolt-on acquisitions enable private equity firms to bring down the cost of investments through multiple arbitrage and leveraging synergies. But in a climate of heady valuations, are GPs thinking too big?