Investments
Carlyle sees return on capsule innovation
Gelatin has been used to produce two-piece drug capsules for nearly 100 years, largely thanks to its ability to dissolve easily and be manufactured to a uniform thickness. The problem is that the manufacturing technique has never been all that kosher,...
Navis, Rabo see 1.9x return on Thai duck deal
Navis Capital Partners' exit from Thailand-based duck processor Bangkok Ranch marks the end of a 13-year holding period – among the longest in the firm’s portfolio.
KKR to put another $40m into United Envirotech
KKR has agreed to invest $40 million in United Envirotech (UEL), a Chinese water treatment and recycling solution provider. The private equity firm previously subscribed to $113.8 million convertible bonds issued by UEL in October 2011.
India Awards: PE Deal of the Year – CARE Hospitals
Advent International spent four years scouting India’s healthcare market before settling on CARE Hospitals, and the transaction itself was complex. Now operating partners are on the ground supporting expansion.
India Awards: Exit of the Year – Genpact
Genpact has a strong claim as the pioneer of business process outsourcing (BPO) in India, an industry that employs 700,000 people is now worth nearly $11 billion. According to a report by Nasscom and Everest Group, India accounts for more than 35% of...
India Awards: VC Deal of the Year – Flipkart
In India's fiercely competitive e-commerce market, the mantra is eat or be eaten. Flipkart, through a combination of new funding and lateral acquisitions, has placed itself firmly in the former camp.
India Awards: Firm of the Year – ChrysCapital Partners
ChrysCapital overcame a difficult market and the departure of its founder to close Fund VI at $510 million, taking the fundraising and firm of the year awards. Managing Director Gulpreet Kohli gives his perspective
China take-privates: A challenging proposition
Management buyouts of US-listed Chinese companies are all the rage, but these transactions present unique challenges in terms of execution. Only the good survive.
Carlyle completes China Pacific exit, takes total sales value past $5b
The Carlyle Group has completed what is said to be its largest-ever cash exit globally, selling the last of its interest in China Pacific Insurance for $796 million. The private equity firm has accumulated more than $5 billion through a series of block...
Cerberus begins Aozora exit with $1.8b sell down
Cerberus is to sell the bulk of its 58% holding in Japan's Aozora Bank through a public market sale that could generate up to JPY158.1 billion ($1.8 billion). The US firm's stake would fall to 8%.
Chinese short-term rental sites secure $20m in VC backing
Xiaozhu.com and Mayi.con, two competing Chinese websites specializing in short-term room rentals, have each secured $10 million in VC funding.
Wanxiang-backed fund exits D&R to strategic buyer
Summit Strategic Investments, a private equity fund controlled by Chinese auto parts manufacturer Wanxiang Group, has exited US-based D&R Technology to CTS Corporation.
Navis acquires Vietnamese seafood processor
Navis Capital Partners has acquired a stake in Go Dang Joint Stock Company (Godaco), one of Vietnam’s fastest growing seafood processing companies, through its Singaporean subsidiary Panga Hold.
Warbug Pincus to exit India's WNS Global – report
Warburg Pincus is reportedly in talks with The Carlyle Group, KKR and Baring Private Equity Partners India to sell its 29% stake in business process outsourcing (BPO) firm WNS Global.
China's Mailman to set up early-stage Asia fund
Mailman, a social media and digital marketing company based in China, is a forming a start-up fund that will provide Series A funding rounds.
Mizuho, JBIC to set up $183m SME private equity fund
The Japan Bank for International Cooperation (JBIC), Mizuho Corporate Bank (Mizuho CB) and Mizuho Bank will form the Mizuho ASEAN PE Fund to support the overseas expansion of Japanese mid-tier and small- to medium-sized enterprises (SMEs).
China to see record PE deal flow in 2013 – PwC
China is likely to see record highs in terms of private equity deal volume and value in 2013, according to PricewaterhouseCoopers, as a “perfect storm” of turmoil in the global economy and a slowing domestic economy allows investors to target larger-scale...
Carlyle exits Japan's Qualicaps to Mitsubishi Chemical
The Carlyle Group has exited its holding in Qualicaps, a supplier of pharma-grade capsules, to Mitsubishi Chemical Holdings for JPY55.8billion ($639 million).
CVC-led consortium completes $1.7b KFC take-private
A CVC Capital Partners-led consortium has completed a MYR5.12 billion ( $1.7 billion) privatization of Malaysia's KFC franchise and its parent company.
India webinar: Relighting the fire
Investor sentiment toward Indian private equity has weakened considerably over the last year. AVCJ, supported by KPMG, hosted a webinar in December at which industry leaders assessed the various challenges
Unitas buys controlling stake in ZTE subsidiary
When ZTE decided to divest Shenzhen ZTE Netview Technology (ZNV), a subsidiary focused on power and environment monitoring and video surveillance, it wanted to act quickly. Unitas Capital was up to the task, overcoming rival bids from several financial...
Actis exits Xiabu Xiabu in secondary sale
In the past 12 months we have seen a 10-fold increase in secondary sales in China by value, but it is unwise to read too much into the spike: 80% of the $2.9 billion total came from Goldman Sachs selling its minority interest in Industrial and Commercial...
Navis, Rabo exit Thai duck processor
Navis Capital Partners and Rabo Capital have exited Thai duck processing firm Bangkok Ranch, plus its Dutch subsidiary Duck To Holdings, to a consortium led by the companies’ founders. The deal values the combined assets at THB5.7 billion ($188 million)....
Taiwan's Chinatrust in talks to buy Tokyo Star Bank - report
Chinatrust Commercial Bank, one of Taiwan's largest commercial banks, is reportedly in talks to acquire Tokyo Star Bank for JPY50 billion ($582 million). Tokyo Star's shareholders, which include Lone Star Funds, have previously struggled to find interested...