Investments
Clearlake backs Futuris to buck downturn
The A$200 million ($178 million) state bailout for Australia's auto industry comes after years of decline in manufacturing. Industry production numbers are the lowest since 1957. Toyota and General Motors (GM) have scaled back production amid export pressure...
Japan's secondaries surge
Secondary deals in Japan spiked in 2011 as buyouts from before the global financial crisis found an exit. With the country's economic prospects improving, industry participants expect the flow to continue
Breaking down the buyout opportunity
Multinational corporations, with one eye on their precarious balance sheets, decide to cut their losses and offload divisions. Septuagenarian founders, keen to retire from the family business but with no obvious successor, agree that it's time to cash...
Axa to exit Arkadin to Japan's NTT
Axa Private Equity has entered exclusive negotiations with Japan's NTT Communications Corporation to sell its stake in collaboration software as a service (SaaS) provider Arkadin.
China pollution control business gets $20m Series C round
Invesco WLR Private Equity and Keynote Ventures have led a $20 million Series C round funding for LP Amina, an US-based energy and environmental solutions provider. Existing investors Qiming Venture Partners and Hao Capital also participated.
Nalanda Capital ups stake in Lovable Lingerie
Singapore-based Nalanda Capital has invested another INR5.4 million ($89,825) in listed Indian undergarment maker Lovable Lingerie, taking its stake to 5.06%.
Advantage Partners exits Japan's Kazaka Securities
Japanese mid-market buyout firm Advantage Partners has sold its stake in Kazaka Securities to Osaka-based Naito Securities. The financial details of the deal were not disclosed.
Actis makes another attempt to sell India’s Sterling Hospitals – report
Olympus Capital-backed DM healthcare and Temasek’s HealthCare Global (HCG) are reported to be making offers for Actis Capital's Sterling Hospitals.
Australia's Hastings buys Phoenix Energy from Terra Firma
Australian infrastructure investor Hasting Funds Management has acquired 100% of Northern Irish gas distribution company Phoenix Natural Gas from Terra Firma. Financial details of the transaction were not disclosed.
MBK in exclusive talks with ING to acquire Korea unit - report
MBK Partners has reportedly entered into exclusive talks regarding the sale of ING Groep's South Korean life insurance business. The private equity firm is said to have offered KRW1.8 trillion ($1.6 billion) for the entire operation.
Mandarin Capital exits Italian valve component maker
Sino-European PE firm Mandarin Capital Partners has exited its 70% stake in Italian valves’ components producer Gasket International to Hutchinson, a French thermoplastics company. The Girelli family that founded the business has also sold its 30% shareholding....
AIG says aircraft leasing deal with Chinese consortium is not dead
Negotiations are ongoing between American International Group (AIG) and the Chinese consortium – which includes a fund run by former Primus Financial Holdings executive Wing-Fai Ng – that has agreed to buy a majority stake in International Lease Finance...
China’s Zhonglu VC invests in five start-ups
A venture capital arm of Shanghai Zhonglu Group, a Chinese bicycle manufacturer, has invested a total of RMB36.4 million ($5.9 million) in five online technology start-ups. Zhonglu VC will take a 20% stake in each company.
Providence Equity-backed Idea Cellular to raise $616m through share sale
Idea Cellular, an Indian telecom provider backed by Providence Equity Partners, plans to issue up to INR37.5 billion ($616.1 million) in equity.
China's 58.com plans for $100m IPO in the US - report
Chinese venture capital-backed local classifieds website 58.com intends to raise at least $100 million through a US IPO later this year.
Clearlake Capital buys Australia-based auto interiors firm
Clearlake Capital Group, the Los Angeles-headquartered PE firm, has made its first investment in Australia, buying Elders’ automotive business for A$69 million ($62 million), including debt. The divestment allows Elders to become a pure-play rural and...
PE firms eye exit as Trimax IT Infrastructure files for IPO
India’s Trimax IT Infrastructure plans to go public, facilitating a partial exit for PE backers Aditya Birla Private Equity (ABPE), Zephyr Peacock India and BanyanTree Growth Capital.
Baring Asia completes Korea parcel delivery buyout
Baring Private Equity Asia has announced the acquisition of South Korean courier firm Logen. Details of the deal, said to be worth around KRW160 billion ($140 million), emerged last month prior to closing. The seller is Mirae Asset Private Equity.
DBS abandons takeover bid for Indonesia’s Bank Danamon
Singapore’s DBS Group has abandoned its $7.3 billion takeover bid for Indonesia’s Bank Danamon after deciding the regulatory hurdles were insurmountable.
Indian Angel Network invests in IndiaCollegeSearch
Indian Angel Network (IAN) investor members Vikram Kant Upadhyaya, Anupam Mittal and Varun Khurana have committed an undisclosed amount to IndiaCollegeSearch (ICS), a website that provides information on over 7,000 professional educational institutes.
Nomura, Next Capital-backed Ashikaga files for IPO - report
Ashikaga Holdings, which is backed by Nomura Financial Partners and Next Capital Partners, has applied to list on the Tokyo Stock Exchange (TSE) for what could be a $1 billion IPO.
GCS sees Dexia asset management deal collapse - Update
GCS Capital's EUR380m ($503 million) bid to acquire the asset management arm of Dexia collapsed yesterday after the Franco-Belgian bank said the Hong Kong PE firm had been unable to pay for the deal.
GE Energy invests $42m in India hydro-electric project
GE Energy Financial Services India has committed INR2.5 billion ($42.5 million) to a hydro-power project in north-east India operated by Gati Infrastructure (GIL). The investment was made through a share subscription agreement, for an undisclosed stake.
Microsoft consolidates India start-up programs
Microsoft India has brought its start-up offerings under a single platform – known as Microsoft Ventures – following a similar restructuring at group level. Existing VC investment programs including BizSpark, Bing Fund and Accelerator will now operate...