Investments
TPG, GIC backed Li Ning closes $238m convertible securities issue
Li Ning, the Chinese sports brand backed by the Government of Singapore Investment Corporation (GIC) and TPG Capital, had closed a convertible securities issue worth HK$1.85 billion ($238 million). The open offer was over-subscribed with the company receiving...
Lunar Capital acquires majority stake in China's Guizhou Yonghong
Lunar Capital Management has acquired a majority stake in Chinese snack food company Guizhou Yonghong, for an undisclosed sum. The company produces and distributes processed beef products under the brand of Niutou, which means Bullhead.
Korean group among bidders for Brookfield hotel asset - report
A South Korean group is said to considering a A$400 million ($411 million) bid for the Four Seasons Hotel in Sydney as Canada's Brookfield Asset Management prepares to offload its Australian hotel portfolio.
KKR kicks tires, buys Alliance
India is expected to see an increasing number of secondary buyouts in the next couple of years as GPs look for ways to monetize existing portfolios in the face of a difficult public market environment. While KKR's acquisition of Warburg Pincus' majority...
Unitas patches up Australian auto parts firm
It seems counter-intuitive for a private equity firm to invest in inventory - if anything, they are known in the West for cutting working capital post-buyout - but this is what Unitas Capital did on acquiring Exego, a car parts supplier that operates...
1Q analysis: Hard times
Mixed fortunes for Asia buyout funds on the road; large-cap deals weaken, but venture capital activity is on the rise; exits one of few bright spots thanks to spurt in trade sales
CX Partners finalizes $22m investment in Transaction Solutions unit
CX Partners has finalized its acquisition of a 75% stake in the Indian ATM unit of Australia's Transaction Solutions International (TSI). The private equity firm has agreed to pay INR1.2 billion($22.13 million) for TSI India.
Blackstone targets $4b for Asian real estate fund - report
The Blackstone Group is said to be targeting $4 billion for its Asian real estate fund, making it the largest real-estate fund ever devoted to the region.
CDH invests $90m in HK furniture maker Man Wah Holdings
CDH Investments has acquired a 8.54% stake in Hong Kong's Man Wah Holdings for HK$700 million ($90 million) through a convertible bonds subscription. Another investor, Huaxia, also bought a 1.83% stake in the firm for HK$150 million.
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...
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...
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.