Investments
TPG to buy 21st Century Fox stake in Phoenix Satellite TV
TPG Capital has agreed to buy a 12.15% stake in Chinese satellite television operator Phoenix Satellite Television Holdings from 21st Century Fox for HK$1.66 billion ($214 million).
Hutchison Whampoa abandons Parknshop sale plan
Hutchison Whampoa has abandoned plans to sell Hong Kong supermarket chain ParknShop, after it had reportedly attracted bids from the likes of KKR, TPG Capital and a number of strategic investors.
MSPEA set for partial exit as Hyundai Rotem IPO raises $585m
Hyundai Rotem, a train manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), will complete the fourth-largest IPO ever executed on the Korea Exchange and the biggest in more than three years. The offering will generate proceeds of KRW622.4...
Quadrant exits Summerset, buys Estia Health
Quadrant Private Equity has fully exited New Zealand retirement village operator Summerset via the public market, generating an estimated return multiple of more than 3.7x. In the same week, it acquired a majority stake in Australian aged-care operator...
CCBI PE unit invests in China Water Industry Group
The private equity unit of CCB International (CCBI), has invested HK$200 million ($26 million) in China Water Industry Group through a convertible bonds subscription.
Blumont receives $200m injection to support Discovery Metals investment
Blumont Group has received $200 million in new funding from New York-based investment firm Platinum Partners, half of which will be used to buy convertible bonds in Australian copper miner Discovery Metals, previously a target of Chinese private equity...
China's Pactera agrees to $625m Blackstone-led take-private
Pactera Technology International has agreed to be taken private by a consortium led by The Blackstone Group that values the NASDAQ-listed Chinese tech outsourcing firm at approximately $625 million. Existing investor GGV Capital is also participating...
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.
RRJ invests $50m in China property developer CIFI
RRJ Capital has agreed to invest $50 million in Shanghai-headquartered real estate developer CIFI Holdings via a new share subscription. The firm, which went public in Hong Kong last December, raising approximately $214 million, will use the capital for...
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.
Apax adds to global outsourcing exposure
"Including GlobalLogic, Apax funds would have invested about $1.5 billion of equity in the outsourcing space in a number of transactions around the world," says Shashank Singh, partner at Apax Partners and head of their India office. "Technology spend...
Voting opens for the AVCJ Awards
Voting for the 2013 AVCJ Private Equity & Venture Capital Awards opens on October 16. The region's private equity community has until October 29 to pay tribute to the leading fundraises, investments, exits, individuals and firms of the past 12 months.
Profile: Innovation Works' Chris Evdemon
A cold email to Innovation Works founder Kai-fu Lee landed angel investor Chris Evdemon a full-time role at the Beijing-based incubator. Now he is looking to follow the firm into Silicon Valley
3Q analysis: Haves and have nots
Third quarter analysis: Fundraising fortunes become ever more polarized; Korea continues to be the stand-out buyout market, while India shows growth from a very low base; China IPOs are on the comeback trail
India IPOs: The road less taken
India is launching a pilot scheme that will allow certain companies to list overseas without first going public domestically. VC investors see the positives but they want further clarification on the rules
Northstar Group picks up ERA regional master franchise
Northstar Group has completed the acquisition of the Asia Pacific master franchise rights for property agency ERA from Hersing Corporation. It follows the Southeast Asia-focused GP's purchase of ERA franchise in Singapore from the same seller two months...
Acquisition finance: Familiar territory?
Once regarded warily by banks due to the lack of security in providing offshore financing against onshore assets, Asia buyouts that rely on offshore holdco structures are increasingly sought after.
Ascendent backs Wumart as Chinese retailer buys CP Lotus stores
Ascendent Capital Partners (ACP) has acquired a stake in Chinese supermarket operator Wumart Stores, as Wumart moves to acquire 36 stores from retail firm CP Lotus Corp. for HK$2.3 billion ($302 million) through a share swap.
People’s Daily to buy Sequoia-backed online literacy platform
People.cn, a Chinese online newspaper run by state-owned People’s Daily, intends to purchase a 69.25% stake in Kanshu.com, an online book reading platform backed by Sequoia Capital, for RMB249 million ($40.8 million).
Australia’s CPA rejects $2.6b takeover bid from CPPIB, Dexus
The Commonwealth Property Office Fund (CPA) has rejected a A$2.7 billion ($2.6 billion) takeover bid from the Canada Pension Plan Investment Board (CPPIB) and Dexus Property Group (DXS) to acquire the trust's Australian office portfolio.
CIC, RRJ back China water treatment firm SIIC Environment
Singapore-listed Chinese water treatment firm SIIC Environment will raise a total of S$260.2 million ($209 million) by selling new shares to investors including China Investment Corporation (CIC), RRJ Capital and CCBI International.
CITIC Capital, Crestview buy machinery supplier Stackpole
CITIC Capital Partners has teamed up with New York-based Crestview Partners to buy Stackpole International, a North American machinery supplier, from Sterling Group and Current Capital. The transaction value was not disclosed but it is reportedly $512...
OzForex shares jump on debut following $416m IPO
OzForex Group - an Australian online foreign exchange services provider backed by The Carlyle Group, Accel Partners and Macquarie Group - saw its shares jump nearly 30% on its first day of trading following a A$440 million ($416 million) IPO.
Matrix, Valara invest $150m in New Zealand's Xero
New Zealand-based online accounting software company Xero has raised a NZ$180 million ($150 million) round from existing backers Matrix Capital Management and Valara Ventures. The transaction was priced at $15.10 per share for 9.92 million shares - representing...