Expansion
Investment: Southeast Asia's family footholds
By most measures, Southeast Asia is under-penetrated by private equity. If deal flow expectations are to be met, investors must tap local networks for openings in and around the family conglomerates
Exits: Stuck in China
The weak IPO market has left many China PE firms holding assets for longer than expected. While growth deals will remain dominant, there will be change in how and with whom they are done
Affinity seals $123m dairy JV with Chinese SOE
Affinity Equity Partners has invested $123 million in a dairy farming joint venture with a Chinese state-owned enterprise (SOE). It represents the 12th and final commitment from the GP’s third pan-Asian fund and comes as Fund IV is said be nearing a final...
Affinity bets again on the protein theory
Having bought New Zealand poulty producer Tegel Foods and Australian deli meats specialist Primo Smallgoods, Affinity Equity Partners’ third pan-regional fund is already heavily invested in the Asian “protein theory.” Both companies are looking to distribute...
KKR invests $89m in Apollo Hospitals' parent
KKR has made an INR5.5 billion ($89.74 million) investment in PCR Investments, the holding company of India’s Apollo Hospitals group.
LotusPool targets $125m India fund, IFC to invest
LotusPool Capital, a private equity firm set up by executives from Actis and ePlanet Capital, has received a $15 million commitment from International Finance Corporation (IFC) for its debut fund. The vehicle, which has a target of $125 million, will...
Tata Capital buys stakes in Tata Sky, Mitra Biotech
Tata Capital’s offshore Tata Opportunities Fund (TOF) has acquired a 5% stake in direct-to-home (DTH) TV provider Tata Sky, while VC fund Tata Capital Innovations has backed cancer care company Mitra Biotech.
Actis invests $48m in Indian pharma company
Actis has invested $48 million for a significant minority stake in Symbiotec Pharmalab, an active pharmaceutical ingredients (API) manufacturer.
Silver Lake, Nexus invest in Indian commodity trading platform
Silver Lake Kraftwerk has taken a minority stake in Bangalore-based Eka Software Solutions, a commodity trading and risk management software provider. Existing investor Nexus Venture Partners also participated in the funding round.
IDFC Alternatives invests $20m in Medi Assist
IDFC Alternatives has committed INR1.25 billion ($20.39 million) to Medi Assist, a Bangalore-based health benefits manager.
IDG commits $40m to Peking Duck restaurant chain Quanjude
IDG Capital Partners has invested RMB250 million ($40 million) in Chinese catering chain Quanjude - best known for its Peking Duck dishes - for a 5.78% stake.
KKR to invest about $150 million in India's Gland Pharma – report
KKR is reported to be in the process of buying around 30% of Gland Pharma, an active pharmaceutical ingredients and injectable drugs manufacturer, for $150 million.
KKR invests $200m in Malaysia's Weststar Aviation
KKR has completed its first investment in Malaysia, paying approximately MYR642 million ($200 million) for a substantial minority stake in Weststar Aviation Services (WAS). It is also the first investment from KKR Asian Fund II, a $6 billion vehicle that...
Creador makes SE Asia e-payment breakthrough
Creador spent a couple of years looking for ways to enter Southeast Asia’s electronic payments space without much success. “We are a firm believer that there is a shift from cash to credit and debit solutions and e-commerce will push this to the next...
China retail: Asset-heavy to asset-light
Facing competition from e-commerce platforms, China’s traditional offline retailers are moving online – and the ideal combination is a combination of the two. PE investors are seeking opportunity in the disruption
Creador to take 20% stake in Malaysia's GHL, back e-pay acquisition
Creador will take a 20% stake in Malaysia-based payment services provider GHL Systems through a private placement of new shares. The capital will in part be used to finance GHL’s proposed acquisition of Australian Securities Exchange-listed e-pay Asia....
Alibaba leads $50m Series C round for Quixey
Alibaba Group has led a $50 million Series C round of investment for Quixey, an US-based search engine for apps. New investor GGV Capital and existing backers Atlantic Bridge, Innovation Endeavors, Translink Capital, US Venture Partners, and WI Harper...
HK's Shining Capital leads $40m JustFab Series C round
Hong Kong-based Shining Capital Management has led a $40 million Series C round of funding for US-based fashion subscription e-commerce retailer JustFab. Existing backers Matrix Partners, Rho Ventures, Technology Crossover Ventures and Intelligent Beauty...
Sequoia leads Series B round for China second-hand car platform
Sequoia Capital led a Series B round of investment for Souche Holdings, an online second-hand car trading platform. Existing backers Morningside Technologies and Ferry Venture Capital also participated.
GEF invests $12m in India's Rishabh Instruments
Global Environment Fund has invested INR750 million ($11.98 million) in Industrial Control Products maker Rishabh Instruments (RI), through its small and medium-sized enterprises-focused South Asia Clean Energy Fund (SACEF).
Hony still committed to China SOE restructuring, more focused on value creation
Hony Capital has pledged to remain a China-focused investor despite the country’s slowing economic growth and forays by other private equity firms into new markets in order to diversify risk. Hony’s emphasis will be on value creation, particularly in...
CLSA Capital Partners backs VoloAgri
CLSA Capital Partners (CLSA CP) has invested in VoloAgri Group, a California-based agricultural technology company, which is the third agriculture investment channeled through its Clean Resources Asia Growth Fund.
CRCI reaches $180m first close on Fund III
China Renaissance Capital Investment (CRCI) has reached a first close of approximately $180 million on its third growth capital fund. The timing of the close was determined by the GP needing to finalize its first investment out of the new vehicle.
Ancora closes Indonesia fund at $128m
Indonesia-focused GP Ancora Capital has made a final close on its second fund at $128 million. The vehicle is currently 40% deployed, having made three investments since its launch in early 2011.