Investments
ChrysCap exits Ahmednagar Forgings, buys Sequoia's Infotech stake
ChrysCapital Partners has exited Ahmednagar Forgings (AFL), a manufacturer of automotive components, for INR363 million ($6.07 million) through a series of bulk deals on the open market. The firm originally bought the stake for INR295 million in 2008.
Baird backs China children’s education platform
Baird Capital, the private investment arm of Robert W. Baird, has committed an undisclosed sum to Peter Winn, former China president at English First Professional (EF), to explore education sector investments in the country.
Japan's INCJ in cooperative talks with private equity
The government-backed Innovation Network Corporation of Japan (INCJ) has been in discussions with domestic and foreign private equity firms over joint investment strategies.
TIAA-CREF merges property business with Henderson to boost Asia exposure
TIAA-CREF has merged its real estate business with that of London-based manager Henderson Global Investors in order to broaden its global portfolio and gain better Asia exposure in particular.
ChrysCapital-backed Intas Pharma files for IPO
ChrysCapital Partners will exit the 10.16% stake held by Fund III in Ahmedabad-based formulations maker Intas Pharmaceuticals via an upcoming IPO. Another 6.25% stake will continue to be held by the PE firm's fifth fund.
Tsinghua University investment arm makes buyout offer for Spreadtrum
Spreadtrum Communications, a Chinese mobile chip manufacturer backed by NEA, has received a buyout offer from a unit of Tsinghua Holdings, an investment entity controlled by Beijing-based Tsinghua University. The offer values Spreadtrum at $1.35 billion.
Tencent-Naspers JV ibibo buys India ticketing firm redBus
Delhi-based ibibo Group has acquired VC-backed Indian bus ticketing company redBus.in, allowing Helion Venture Partners, Inventus Capital Partners and Seedfund to exit their investment. Financial terms of the transaction were not disclosed.
Carlyle, Seven to retain ownership of Australia's Coates Hire
The Carlyle Group and Seven Group Holdings have decided against pursuing an exit from Australian equipment-leasing business Coates Hire following a strategic review. The co-owners said they remain fully committed to growing the business.
Japan divestments still strong despite 'double-edged sword' of Abenomics
Corporate divestments continue to be a strong source of buyout deal flow in Japan, regardless of the impact of recently introduced economic reforms, according to Richard Folsom, co-founder and CEO of domestic GP Advantage Partners.
Carlyle-backed New Century REIT targets $254m HK IPO – report
China’s New Century Group, a portfolio company of the Carlyle Group, is seeking to raise as much as $254 million through an IPO offering by a real estate investment trust (REIT) in Hong Kong.
China’s Dalian Wanda buys PE-backed yachtmaker Sunseeker
Dalian Wanda Group has sealed a deal to acquire a 91.81% stake in Britain’s largest luxury yachtmaker Sunseeker – backed by Irish private equity firm FL partners - for GBP320 million ($495 million). The deal is expected to close by mid-August.
Hawkesbridge seeks Australian bottled water company exit
Hawkesbridge Capital is seeking a potential buyer for Noble Beverages, the Australian company behind the bottled water brand Pureau.The Sydney-based private equity firm made a succession play for the family-owned company back in 2004, acquiring a majority...
GIC to sell Springer Science+Business
GIC Special Investments, the PE arm of the Government of Singapore Investment Corporation, and EQT will sell global publisher Springer Science+Business Media to London-based BC Partners for a total enterprise value of around EUR 3.3 billion ($4.4 billion),...
Carlyle to exit Yashili stake to China Mengniu Dairy
The Carlyle Group has agreed to sell its 24% stake in Yashili International to domestic rival China Mengniu Dairy for about HK$3 billion ($387 million). This is part of a Mengniu bid for a majority interest in Yashili - its second lateral investment...
Asian Healthcare Fund invests in Wellspring clinic chain
Delhi-based Asian Healthcare Fund (AHF) has invested in Wellspring Healthcare, which runs eight primary care clinics in Mumbai under the Healthspring Community Medical Centres brand. Financial details of the deal were not disclosed.
Q&A: Advantage Partners' Richard Folsom
Advantage Partners has experienced more than its fair share of Japan's highs and lows. Now as the country embarks on a new economic experiment, co-founder and CEO Richard Folsom shares his views on the state of PE
Giant maintenance: PE and corporate Japan
Restructuring is a compelling story in Japanese private equity, but deal access is constrained by perception issues and government-linked competition. Will the there be anything left for foreign players?
PE-owned Dutch waste company sells subsidiary to Cheung Kong Infrastructure
A Dutch waste management provider owned by CVC Capital Partners and KKR has exited its energy-from-waste (EfW) subsidiary to a consortium led by Cheung Kong Infrastructure (CKI) for EUR940 million ($1.27 billion). It is the Hong Kong-based company’s...
China’s GSR leads restructuring round for Mirabilis Medica
China-focused GSR Ventures is leading a $7 million restructuring round for Mirabilis Medica with a view to helping the company expand its footprint outside the US.
Avenue Venture invests $9.5m in Chennai residential project
Avenue Venture Partners has invested INR250 million ($4.3 million) in a Chennai luxury residential project being developed by Casa Grande. The firm plans to commit a total of INR550 million ($9.5 million) in the project.
KKR, Blackstone, Carlyle among bidders for SingTel Australia unit - report
KKR, The Blackstone Group and The Carlyle Group are said to have submitted first-round bids for Optus Satellite, the Australian satellite unit of Singapore Telecommunications (SingTel).
China.com to sell LP stake in New Horizon fund to AlpInvest
China.com, a news agency listed on Hong Kong Growth Enterprise Market (GEM) board, will sell its entire stake in New Horizon Capital IV to AlpInvest Partners for $516,000.
PE, strategics back Gateway Distriparks subsidiary
Norwest Venture Partners has picked up a 14% stake in Indian port-based logistics operator Gateway Distripark's subsidiary Snowman Logistics for INR600 million ($10.4 million). Existing shareholders include International Finance Corporation (IFC) and...
ICICI Prudential exits Indian residential investment
ICICI Prudential AMC, a joint venture between India’s ICICI Bank and Eastspring Investments, has exited investments in two Shriram Properties residential projects in Bangalore with returns upwards of 20%.