Investments
Baring Asia in talks to buy stake in Lafarge India unit
Baring Private Equity Asia is in advanced talks with the Indian arm of French cement maker Lafarge for a minority stake in the unit.
Intel Capital-backed Aspeed goes public in Taiwan
Intel Capital completed its first portfolio IPO of the year as Aspeed Technology listed on Taiwan’s GreTai Securities Market on Tuesday.
Macquarie-owned Taiwan Broadband gathers investors for IPO
Eight cornerstone investors have been lined up to take nearly one third of pay-TV operator Taiwan Broadband Communications’ Singapore IPO. The offering will allow two Macquarie funds that own Taiwan Broadband to exit their holdings.
Something special
It wasn't long ago that Chinese GPs would turn their noses up at any suggestion of specialization. Buoyed by a flood of capital into private equity, the growth capital space morphed into a giant deal shop, with private equity firms pursuing several times...
CITIC, CDH exit early days China SOE buyout
Two facts worth noting about Chinese private equity: first, there is almost always a willing strategic buyer for a well positioned domestic business; second, the vast majority of PE investments are for minority stakes so if the entrepreneur has set his...
Creador brews 2x return on OldTown
Malaysia's OldTown White Coffee has unusual origins. The brand came into existence in 1999 as a range of pre-mix instant beverages, offering creamer, coffee and sugar in a single sachet. It was only in 2005 that the company decided to venture into the...
Chinese IPOs in the US: Green shoots
Online retailer LightInTheBox is seeking to become only the third Chinese company to list in the US in more than a year. But has investor sentiment emerged from its long winter?
CNEI secures 10.3x return on full exit from Liyuan Aluminum
China New Enterprise Investment (CNEI) has completed its exit from Jilin Liyuan Aluminum, one of the country’s leading aluminum extrusion product manufacturers, securing a 10.3x gross return.
India's NSL Renewable Energy raises $60m round
A group of investors, including International Finance Corporation (IFC) and FE Clean Energy, has committed $60 million to the NSL Renewable Power Private, a subsidiary of NSL Group.
TPG increases stake in Indian bulk container manufacturer
TPG Capital has invested INR1.35 billion ($25 million) in Flexituff International through a subscription to foreign currency convertible bonds (FCCB), one month after buying a 5.34% stake in the company for INR270 million ($5 million)
Quadrant-backed Virtus Health launches IPO
Quadrant Private Equity-owned in-vitro fertilization (IVF) business Virtus Health launched its IPO road show on Monday. It is poised to be the largest equity offering since SCA Property in November last year and the biggest significant private equity-backed...
Australia's IFM assumes control of Hastings PE fund – report
Australia’s Industry Funds Management (IFM) will reportedly assume control of Hastings Private Equity Fund II from Hastings Fund Management. According to AVCJ Research, IFM is among the LPs in the $180 million vehicle, which closed in June 2005 and made...
Abraaj exits Thailand's Unitrio to Japan's NTT
The Abraaj Group has exited Thailand-based data center provider Unitrio Technology to NTT Facilities (NTTF), a unit of Japan's Nippon Telegraph and Telephone Corporation (NTT).
Focus Media's PE-backed MBO clears final hurdle
Focus Media will be privatized next month after shareholders voted in favor of a private equity-backed management buyout that values the company at $3.7 billion. It is the largest buyout transaction ever completed in China.
Hong Kong's Hanhong to invest in Sprint Siberia energy project
Hong Kong-based Hanhong has agreed to invest $11 million in Australia’s Sprint Energy to support development of a project located in the Tomsk region of the prolific West Siberian Basin.
Fosun Pharma, Pramerica-Fosun buy Israel's Alma Lasers
Shanghai Fosun Pharmaaceutical, a subsidiary of China’s Fosun International, and the Pramerica-Fosun China Opportunity Fund, will be around $240 million to acquire up to 95.6% of Israel-based Alma Lasers.
Japan's SMBC in talks with TPG to buy Indonesia bank stake – report
Sumitomo Mitsui Banking Corp (SMBC) is said to be in advanced talks to buy 40% of TPG Capital's stake in Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN). The sale would enable the private equity firm to comply with the 40% cap on foreign ownership...
Intel Capital backs South Korean mobile tech maker
Intel Capital, the US chipmaker's corporate VC arm, has invested an undisclosed amount in Zinitix, a South Korean developer of touchscreen controller technology for mobile devices. The funding will help the company expand into other rapidly growing markets...
Fortis, Next Invest exit Belgian ink maker to Japan's Toyo
Fortis Private Equity and Next Invest have sold their 100% stake in Belgian ink manufacturer, Arets International, to Japan’s Toyo Ink Group for EUR10 million ($13 million).
CITIC, CDH generate 4x return through China auto parts exit
CITIC Capital Partners and CDH Investments Management have exited Chinese auto components manufacturer Nanjing Aotecar to a domestic buyer. According to sources familiar with the transaction, CITIC has secured an approximately 4x money multiple on an...
IDFC, Capital International exit India's Manipal Group via share buyback
India’s Manipal Group has raised around $260 million in debt to buy back IDFC PE and Capital International’s stake in Manipal Education and Medical Group International India (MEMG).
Creador sees 2x return, 101% IRR on maiden exit
Creador has made a partial exit from its investment in Malaysian restaurant chain OldTown White Coffee at a 2x money multiple, representing an IRR of 101%.
CITIC, Vector see 3x return on RAE Systems trade sale
CITIC Capital Partners and Vector Capital have exited gas detection equipment manufacturer RAE Systems through a $340 million trade sale to Honeywell. The China-focused GP came in as a co-investor on US-based Vector’s privatization of the company in June...
CVC, MBK among final bidders for ING Korea unit - report
CVC Capital Partners and South Korean PE firm MBK are among the last five bidders to begin preliminary due diligence as they consider an offer for at least 51% stake in the Korean unit of Dutch insurance firm ING Groep.