Investments
Warburg Pincus invests in India's Avtec, Actis exits
Warburg Pincus has acquired a minority stake in Avetec, an Indian manufacturer of precision-engineered products, facilitating an exit for Actis. The value of the transaction was not disclosed.
PE firms seek partnerships with Korean corporates - AVCJ Forum
Private equity firms are best served working with South Korean conglomerates rather than competing against them for assets, with collaborative efforts to secure overseas assets a strong potential source of deal flow, industry participants told the AVCJ...
Tano India backs Shree Shubnam Logistics
Tano Capital is set to invest INR800 million ($15 million) in Mumbai-based Shree Shubham Logistics (SSL) for an undisclosed stake, supporting the company's domestic expansion.
Baring PE India boosts stake in Manappuram Finance
Baring Private Equity Partners India has increased its stake in gold loan company Manappuram Finance to 9.71% through an open market transaction.
Goldman, GIC invest $100m in China healthcare play iKang
Goldman Sachs and Government of Singapore Investment Corporation (GIC) have committed $100 million to Chinese private health management company iKang.
Noah's Gopher in $80m first close on China secondaries fund
Gopher Asset Management, the private equity arm of NASDAQ-listed Noah holdings, has reached a first close of RMB500 million ($80 million) on its debut China secondaries fund.
Morgan Stanley-backed Hyundai Rotem targets IPO
Hyundai Rotem, a South Korean railway and defense systems manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has applied to the Korea Exchange for an IPO. According to local media, the company is looking to raise KRW300-400 billion ($270-360...
China's Hongye commits $100m to California's Singpoli Capital
China's Hongye International Investment Group has committed a $100 million in private equity to California-based firm Singpoli Capital to develop green energy, biochemistry, media, high-tech and real estate construction projects.
CanBank Venture invests $4.6m in India's Ashapura Garments
Canbank Venture Capital Fund (CVCF), the private equity unit of Canara Bank, has picked up an undisclosed stake in Gujarat-based Ashapura Garments for INR250 million ($4.56 million).
Hony Capital acquires 10% stake in Chinese property developer
Hony Capital has bought a 10% stakes in Shanghai-listed property developer Shanghai Chengtou Holding for RMB1.8 billion ($290 million), becoming the second-largest shareholder in the company.
KKR pays $500m for Warburg's Alliance Tire Group stake
KKR has agreed to buy Warburg Pincus’ controlling stake in Indian tire make Alliance Tire Group. Terms were not disclosed, but sources familiar with the transaction told AVCJ that KKR will pay $450-500 million for an approximately 75% stake as well as...
CDIB backs online furniture retailer Meilele through $19m bond issue
CDIB Capital has committed a total of $19 million into Chinese home furnishings online retailer Meilele though a convertible bonds subscription.
CIC, ADM support buyout of Australian lithium producer
Chengdu Tianqi Industry Group, a Chinese lithium products manufacturer, has completed the acquisition of Australian miner Talison Lithium, with support from China Investment Corporation (CIC) and Hong Kong-based special situations group ADM Capital. The...
Carlyle buys Shanghai office tower from Singapore's Forterra
The Carlyle Group has paid $267 million for Central Plaza, a Shanghai office building owned by Singapore real estate fund Forterra Trust. The deal is further confirmation of private equity firms’ appetite for commercial real estate in China, coming a...
SBI in Series B round for Australia's Panviva
A joint venture fund run by Japan's SBI Group and US-based Jefferies Group will provide A$4 million ($4.2 million) in Series B funding to Australian business software provider Panviva.
Sycamore proceeds on Billabong buyout with knockdown $300m offer
A consortium supported by US-based Sycamore Partners will enter exclusive negotiations to buy Australian surfwear company Billabong, but any deal will be priced at a substantial discount to the original offer tabled last December.
KKR to pay $500m for Warburg Alliance Tire stake – report
KKR has reportedly agreed to pay about $500 million for Warburg Pincus’ stake in Indian tire manufacturer Alliance Tire Group.
India's Tata Consultancy Services buys PE-owned French IT firm
Two French private equity firms have exited IT services provider Alti to Tata Consultancy Services (TCS) for EUR75 million ($98 million) in cash as the Indian business outsourcing company seeks to broaden its footprint in Europe.
Q&A: Vogo Investment's Jason Shin
Jason Shin, managing partner of Vogo Investment, explains why South Korean company owners’ preference for local partners goes well beyond foreign private equity’s well publicized scrapes
A multi-faceted market
Of readers who have been following Asia’s private equity markets for some years, few would contest South Korea’s place as one of the more important locations for international investors. After all, apart from maybe Australia, it has been the region’s...
Korea buyouts: Young pretender?
South Korea was the only significant PE market in Asia to see an uptick in deal flow last year. Investors have high expectations; uncertainty among local conglomerates – and local GPs – could make or break them
Chaebol cross-shareholding: David and Goliath
Removing cross-shareholding structures that hold Korea’s conglomerates together, and arguably suffocate competition, is key to economic democratization. But will it happen and what would it mean for PE?
Strained relations: Foreign PE and financial services
Global buyout firms have seen less deal flow in South Korea in recent years, with financial services sector activity a shadow of its former self. This doesn’t necessarily mean they are unwelcome
Unitas sees 3x return on Australia auto parts turnaround
Unitas Capital has secured a 3.3x return on its investment in Australian car parts supplier Exego, after selling the business to US-based Genuine Parts in two tranches worth a combined $950 million, including debt. The private equity firm was unable to...