Exits
Hony, Orix-backed theme park operator targets $345m HK IPO
Haichang Holdings, a Chinese theme park and property developer backed by Hony Capital and Orix Corp, is seeking to raise up to HK$2.68 billion ($345 million) through a Hong Kong IPO.
Bayer buys Legend Capital-backed Dihon Pharma
Bayer has agreed to buy Dihon Pharmaceutical Group, a manufacturer of herbal traditional Chinese medicines (TCM). The acquisition facilitates the exit of Legend Capital, an investor in Dihon since 2010.
China to see PE fundraising rebound in 2014 – PwC
China is expected to see a significant rebound in private equity fundraising this year in response to the domestic IPO markets re-opening, according to PricewaterhouseCoopers(PwC). Meanwhile, renminbi-denominated fundraising will prevail as usual.
Australia buyouts: Patience is a virtue
Due to a combination of factors, not least the revival in Australia’s public markets, mid-market private equity deal flow was slower in 2013 than previous years. GPs are waiting for conditions to become more opportune
That was then, this is now
From 2006 or thereabouts, Australia suddenly became the destination in Asia for GPs focused on leveraged buyout deals. In the space of 12 months, private equity investment in the country jumped from $2.5 billion to more than $16 billion.
Baring Asia exits Indonesian aviation services provider
Baring Private Equity Asia has sold its 41.65% stake in air freight and passenger services provider Cardig Aero Services (CAS) to Singapore Airport Terminal Services (SATS) for IDR1.1 billion ($93.5 million). The PE firm invested approximately $41 million...
Focus Media targets $1b Hong Kong IPO - report
Chinese display advertising business Focus Media, which was taken private in last May by a consortium of private equity investors in conjunction with company management, is said to be working towards a $1 billion IPO in early 2015.
Baring Asia-owned Nord Anglia files for $300m IPO
Nord Anglia Education, a Hong Kong-based school operator with a presence in Asia, the Middle East, Europe and North America, has filed to raise up to $300 million through a US IPO. The company has been majority-owned by Baring Private Equity Asia since...
Quadrant exits Australia, New Zealand home equity release assets
Quadrant Private Equity has agreed to sell Seniors Money International’s (SMI) New Zealand and Australian home equity release mortgage businesses to New Zealand’s Heartland Bank for NZ$87 million ($72.8 million).
Vipshop buys majority stake in VC-backed China cosmetics site
Chinese online retailer Vipshop Holdings, a DCM and Sequoia Capital portfolio company that went public in the US in 2012, has agreed to buy a 75% stake in cosmetics and fashion products site Lefeng.com for approximately $132.5 million.
China's Sungy Mobile buys VC-backed app store Getjar
Sungy Mobile, a VC-backed Chinese app developer that went public on NASDAQ last year, has acquired GetJar, a US-based mobile ad network. GetJar previously raised three rounds of VC funding, two led by Accel Partners and the third led by Tiger Global....
GE, SAC exit Taiwan's Cosmos Bank
GE Capital and SAC Capital will exit Taiwan’s Cosmos Bank to domestic financial services conglomerate China Development Financial Holding Corp. The announcement of the NT$23.1 billion ($762.4 million) deal, which was priced below market value, saw Cosmos...
Portfolio: STIC Investments and Access Bio
STIC Investments backed Access Bio when the Korean-led malaria testing technology player wanted to buy key components and expand output. Now KOSDAQ-listed, the company has its eye on specialty diagnostics
Catalyst completes cool exit
Throughout last year's election campaign, Australian Prime Minister Tony Abbott pledged to repeal the country’s carbon tax on taking office. Five months on, he has yet to do it and the debate rumbles on as to whether the drop in emissions – 0.3% for the...
Sunsuper acquires remaining holiday parks stake, PE exits
Sunsuper, the Australian superannuation fund, has acquired control of Discovery Holiday Parks, paving an exit for Next Capital, Allegro Funds and Macquarie Funds. The deal, which values the asset at A$240 million ($215 million), will see Sunsuper raise...
Infinity-backed WLCSP raises $118m in Shanghai IPO
China Wafer Level Chip Scale Package (WLCSP) - a chip-maker backed by Israel's Infinity Group and China-Singapore Suzhou Industrial Park Ventures (CSVC) - has raised RMB715 million ($118 million) after listing on the Shanghai Stock Exchange.
PE-backed Thomas Cook India, Sterling Holiday to merge
Thomas Cook India, which was bought by Fairbridge Capital in 2012, has agreed to merge with Sterling Holding Resorts India, another private equity-backed enterprise, in a part-equity, part-cash deal worth INR8.7 billion ($140 million).
PE-backed Luye, Rundong target HK IPOs – report
Two private equity-backed Chinese companies – Rundong Automobile Group and Luye Pharma Group – are reportedly planning to raise a total of $1.5 billion through Hong Kong listings.
Cerberus completes Kokusai Kogyo exit - report
Cerberus Capital Management has reportedly completed the sale of its stake in Japanese property operator Kokusai Kogyo for about JPY140 million ($1.37 billion).
IDG, Ascent invest in India's Newgen, Headland exits
IDG Ventures India and Ascent Capital have acquired a minority stake in Newgen Software Technologies, a Dehli-based business management services provider, for INR1.1 billion ($17.6 million). The investment facilitates the exit of Headland Capital Partners....
VC-backed JD.com targets $1.5b US IPO
Chinese online retailer JD.com, which has received $1.7 billion in venture capital and private equity funding in the last two years, is seeking to raise up to $1.5 billion through a US IPO.
Australia's Catalyst secures $245m Actrol trade sale
Catalyst Investment Managers has exited Actrol Group, a components and systems supplier to the heating, ventilation and refrigeration industry, to Reece Australia for A$280 million ($245 million).
TPG, Carlyle assess exit options for Australia's Healthscope
Healthscope, an Australian hospital operator owned by TPG Capital and The Carlyle Group, looks set for an IPO that could generate proceeds of around A$4 billion ($3.5 billion).
Tempting offers: Australian IPOs
Following a prolonged drought, Australia has seen a recent spike in private equity-backed IPOs. Is this a flash in the pan or are public market exits on the cusp of a sustained comeback?