Exits
Media SPAC legitimizes MENA for Asia investors
The imminent US listing of a Middle East and North Africa (MENA) media app via a special purpose acquisition company (SPAC) is helping legitimize the region for Asian private equity.
Deal focus: Partners Group-backed IT play ripens early
Partners Group is set to generate a 5x return on the sale of its 45% stake in GlobalLogic to Hitachi as momentum in corporate digital transformation makes the IT services player a hot commodity
1Q analysis: American dreams
New York makes an unexpected reappearance as the preferred IPO destination for Asian companies; the growth-stage tech investment revival continues; KKR lights up lackluster fundraising environment
True North makes partial exit from India's PolicyBazaar
Indian private equity firm True North has confirmed a partial exit from local insurance portal PolicyBazaar.
Partners Group, CPPIB exit GlobalLogic to Hitachi
Partners Group and Canada Pension Plain Investment Board (CPPIB) are exiting a combined 90% stake in US-headquartered GlobalLogic to Japan’s Hitachi at an equity valuation of $8.5 billion.
MSPEA, Sihuan Pharma sell China hospital
Morgan Stanley Private Equity Asia (MSPEA) and Sihuan Pharmaceuticals have agreed to sell their 80% stake in China’s Huaiyin Hospital for RMB882.8 million ($134.3 million).
Deal focus: IvyCap’s timely 22x windfall
With the launch of its third fund a few weeks away, IvyCap Ventures leveraged strong investor interest in beauty e-commerce player Purplle to secure one of India’s largest rupee VC exits
KKR, Sequoia lead $234m round for Indian NBFC
KKR and Sequoia Capital India have led a $234 million investment in Indian non-banking financial company (NBFC) Five Star Business Finance at a valuation of $1.4 billion.
JC Flowers exits Asia trading platforms business
JC Flowers has agreed to sell Hong Kong-based Chi-X Asia Pacific, which operates equity trading platforms in Australia and Japan, to US-based Cboe Global Markets.
Everstone exits India bakery business
Everstone Capital has exited Indian bread brand Modern Foods to a local subsidiary of Grupo Bimbo, a global strategic headquartered in Mexico, for an undisclosed sum.
VC-backed Appier files for Japan IPO
Appier, a Taiwan-based advertising technology provider, has filed for a JPY26.4 billion ($250 million) Japan IPO. It sets up exits for several VC investors, including Sequoia Capital.
Vintage update: India 2011-2013
A selection of India-based assets that remain in the portfolios of Accel Partners, Aditya Birla Private Equity, BanyanTree Finance Private, Faering Capital, and Helion Venture Partners
Match buys VC-backed Korean social platform for $1.7b
Hyperconnect, a Korean social media platform backed by Altos Ventures and SoftBank Ventures Korea, has agreed to an acquisition by online dating giant Match Group for $1.73 billion in cash and stock.
Advent buys majority stake in India's ZCL, MSPEA exits
Advent International has agreed to acquire Indian pharmaceuticals supplier ZCL Chemicals, setting up a minority exit for Morgan Stanley Private Equity Asia (MSPEA).
CDH exits Singapore equipment rental business
Japanese conglomerate Sumitomo Corporation has acquired Singapore-based construction equipment rental business Aver Asia, facilitating a full exit for CDH Investments.
India's Moonfrog Labs acquired by Swedish gaming studio
Swedish free-to-play gaming studio Stillfront has agreed to acquire 100% of Indian mobile games developer Moonfrog Labs, setting up exits for Tiger Global Management and Sequoia Capital India.
US strategic to buy PE-backed Australia payroll business
Ceridian, a US-based human resources technology provider has agreed to acquire Australian payroll software specialist Ascender, setting up exits for Potentia Capital and Five V Capital.
CLSA partially exits Japan medical IT provider
CLSA Capital Partners (CLSA CP) has partially exited its position in NHOSA Corporation, a Japanese IT provider for dental clinics and medical institutions.
Longreach sells Japanese jeweler to Integral
The Longreach Group has exited Primo Japan to Integral Corporation for an undisclosed sum. This makes Integral the jewelry retailer’s fourth consecutive private equity owner.
Q&A: Hamilton Lane's Collwyn Tan
Collwyn Tan, Hamilton Lane’s co-head of Asia investment and key point person for everything transactional in the region, unpacks the mixed signals of 2020
Guy Hands buys Australian cattle business from Terra Firma
Guy Hands, chairman and CIO of Terra Firma, has acquired the UK-headquartered private equity firm’s position in Consolidated Pastoral (CPC), one of Australia’s largest cattle station operators, through his family office.
3Q analysis: Guarded reengagement
Fundraising focus shifts to China venture, but it’s the same polarization story; upturn in trade and secondary sales suggests the COVID-19 freeze is thawing; healthcare retains its investment appeal
CDH, Oriza back Canadian Solar carve-out
Canadian Solar, a NASDAQ-listed solar power company, has raised RMB1.78 billion ($260 million) to carve out certain China-based assets ahead of a local IPO.
AVCJ Awards 2020 - last call for nominations
Nominations for the 2020 AVCJ Private Equity & Venture Capital Awards will close on September 30 at 6 p.m. Hong Kong time. Please take the opportunity to have your say on the year's outstanding firms, fundraises, investments and exits.
