Exits
Paulson exits scandal-hit firm as concern mounts about China forestry plays
Paulson & Co. has exited its stake in Sino Forest following fraud allegations against the Chinese company. It is the second such firm to be implicated in a scandal after China Forestry, which is backed by The Carlyle Group and Partners Group, was suspended...
Japanese GPs still see opportunities
Private equity investors are thinking twice about trouble-hit Japan, but reports of its demise are greatly exaggerated
Angel investors rise in China
Venture capitalists are turning to earlier-stage funding as they seek to add value and avoid the crowded growth capital space
PEP considers Collins Food Group IPO
Pacific Equity Partners wants to take Collins Foods Group public before the end of the year with a target enterprise value of $400 million. According to the Australian Financial Review, Deutsche Bank and UBS are close to finishing pre-marketing research...
ING fund of funds profits from Quadrant’s Australia fast-food sale
Australian fund of funds ING Private Equity Access announced that another of its private equity investments will be returning cash to the company. Quadrant Private Equity has sold Quick Service Restaurant Holdings (QSRH) to Archer Capital for approximately...
Actis considers Sterling exit
Actis, a London-headquartered emerging markets investor, is set to exit its 80% stake in Gujarat-based Sterling Add-Life Medical Institute, the Business Standard reported, citing sources close to the deal.
PE-backed Chinese fashion retailer plans US IPO
Moonbasa, a Chinese fashion retailer that counts China Renaissance Capital, GSR Ventures and DT Capital Partners among its investors, is seeking to raise $150 million on NASDAQ, Bloomberg reports.
Warburg Pincus to sell Max Healthcare stake to Max India
Max India, an insurer and hospital operator, plans to buy a 16.37% stake in its subsidiary Max Healthcare from Warburg Pincus, Economic Times reported.
Lone Star challenges stock manipulation charges in Korean court
Lone Star will file a petition to void stock manipulation charges leveled against it and Paul Yoo, the head of its South Korea unit, Reuters reported. The move is likely to prolong the private equity firm’s sale of a 51% stake in Korea Exchange Bank...
Propel exits Marstel to Norway's Stolt-Nielsen
Propel Investments has agreed to sell its 45% stake in Marstel Holdings, a bulk liquid terminal operator in Australia and New Zealand, to Norwegian firm Stolt-Nielsen for an undisclosed sum. Completion of the transaction is expected to take place in the...
CVC completes partial exit from Malaysian gaming company
CVC has completed a partial exit from Magnum, Malaysia’s largest gaming business, receiving $410 million in cash plus an allotment of shares with an approximate current market value of $157 million.
TPG, Affinity seek IPO exit from Singapore's UTAC
TPG Capital and Affinity Equity Partners are targeting a $400 million IPO for United Test Assembly Center (UTAC), a Singaporean firm that tests and assembles semiconductors. It is likely to be the largest listing in Singapore this year aside from business...
Venture firms set for windfall from Xunlei IPO
Venture capital investors Morningside Technology Investments, IDG Technology Venture Investment and Ceyuan Funds are on course for profitable exits from Xunlei.com as the Chinese software company filed for a proposed IPO that could raise up to $200 million.
PE targets Australian healthcare
AT A TIME WHEN PROFITABLE EXITS in Australia are difficult to achieve due to the lingering effects of the global financial crisis, private equity firms continue to rely on healthcare for returns. This strategy received a ringing endorsement last week...
Private equity-backed Chinese menswear firm targets Hong Kong IPO
China Outfitters Holdings, a portfolio company of Orchid Asia Group Management, plans to raise $230-$300 million through an IPO in Hong Kong, Dow Jones reported, citing a person familiar with the situation.
PE sees exit multiples in India
India's private equity industry entered 2011 with high hopes that this would be a breakthrough year for exits and returns. Following a rash of sales over the past few months – culminating in Blackstone’s $630 million stake sale in Intelenet Global...
KEB sale delayed again
Lone Star’s protracted effort to offload its 51% stake in Korea Exchange Bank (KEB) to Hana Financial Group has been delayed once gain, this time by six months, amid lingering regulatory questions.
Blackstone sells Intelenet stake to UK support-services firm
Blackstone has sold its 66.25% stake in Indian BPO company Intelenet Global Services to Serco, the British support-services firm, for $634.2 million.
Real estate fund flips Macau office tower
Real estate investment firm Westport Capital Partners and its Hong Kong-based development partner, Tenacity Real Estate Group, have sold a 25-story office building in Macau to an undisclosed buyer for HK$970 million ($125 million).
Walden’s chief on making 11 exits in 15 months
Consistent concentration on core investment values is at the heart of their conspicuous success
TPG’s Shriram Transport stake said to attract interest from Orix
Japanese financial services group Orix Corp. is the latest player to have reportedly set its sites on TPG’s share in Shriram Transport Finance Co. (STFC), touted as India’s largest commercial vehicle lender, in a sale that could bring in more than...
PE-backed Witchery to IPO in Oz
Australia’s Gresham's Private Equity is reportedly looking to list its mid-market clothing retail asset Witchery later this year in an effort to raise A$300 million. The move comes in a market where other PE-backed IPOs of Australian companies have...
Asia Pacific's happy returns
Asia’s exit market has picked up steam in 2011, but questions remain as to whether timing is optimal
Morgan Stanley-backed China Flooring kicks off Hong Kong IPO
Morgan Stanley Private Equity-backed China Flooring Holding, one of the largest wood flooring brands in China, has launched its initial public offering in Hong Kong, and expects to raise HK$1.57 billion ($201.8 million) in the process.