Investments
Australia's Harbart Private Equity buys Cardioscan
Harbert Australia Private Equity has bought an 85% stake in Melbourne-based cardiac testing service provider Cardioscan.
Northstar buys 49% stake in Trimegah Securities
Northstar Pacific Partners has acquired a 49% stake in Indonesian brokerage Trimegah Securities for IDR200 billion ($20.8 million). The investment was channeled through Northstar Equity Partners III, which closed last year at $820 million.
GPs see more secondary deals, stress entrepreneur alignment – AVCJ India Forum
The Indian private equity industry is now diversifying its exit channels in the light of a conspicuous lack of public market deals, GPs told the AVCJ India Forum. Secondary transactions could be an alternative, but alignments with entrepreneurs is the...
PE-backed AAG Energy pulls Hong Kong IPO
Asian American Gas (AAG) Energy, a Chinese natural gas producer backed by Warburg Pincus and Baring Private Equity Asia (BPEA), has postponed its Hong Kong IPO due to challenging market conditions. The company started pre-marketing for the up to $200...
TA-owned SpeedCast buys Australian Satellite Communications
TA Associate Partners-backed SpeedCast has completed a buyout of Australian Satellite Communications (ASC). The company provides satellite-based communications solutions throughout Australia and surrounding regions.
Premji buys stake in Heritage Foods, Kotak India exits
Kotak India Value Fund has exited the remainder of its stake in Indian retailer Heritage foods to Azim Premji, chairman of Indian IT multinational Wipro, who has bought a 4.7% stake in the company.
Khazanah in $356m exit from AIA
Khazanah Nasional, the Malaysian sovereign wealth fund, has exited its entire holding in Hong Kong-listed AIA Group, raising HK$2.76 billion ($356 million). The sale comes as the lockup on American International Group’s stake in the Asia-focused insurance...
CX Partners invests in TSI's India ATM business
CX Partners has invested INR1.2 billion ($23 million) in India ATM business of Transaction Solutions International (TSN), an electronic transactions specialist listed in Australia.
Secondaries: Sleight of hand
Are LPs using synthetic solutions like total return swaps to trade fund positions behind the managers’ backs? Some industry participants are suspicious; others are skeptical.
Teutonic ambitions
Another week, another Chinese strategic acquisition of a German manufacturing asset. The most recent case involves Fusheng Industrial, Greater China's leading producer of industrial air compressors, buying its German rival ALMiG Kompresssoren.
MSPEA in convenience store carve-out
HI-24 is every bit the orphan subsidiary. Last year the Chinese convenience store chain's parent company changed its name to China Financial Services Holdings (CFSH), confirming a strategic rethink already apparent from its acquisitive activity. Once...
Abraaj exits Thai hospital with 3x return
Of the 19 million tourists who visited Thailand in 2011, an estimated 500,000 traveled specifically for medical care. Although medical tourism only accounts for 0.4% of national GDP, the industry is growing at an annual rate of 16% and is expected to...
Asia Awards: Firm of the Year – Bain Capital
In the past 12 months, Bain Capital has raised its second Asia fund, closed sizeable deals in Japan and India, and completed a strong China exit. Jonathan Zhu, a managing director at the PE firm, looks back and forward
Asia Awards: PE Professional of the Year – Roy Kuan
CVC Capital Partners has completed five investments and two exits in the last 12 months. Managing Partner Roy Kuan, who leads the Asia team, and colleagues Francis Leung and SigitPrasetya, discuss market trends
Asia Awards: PE Deal of the Year – Tianhe Chemicals
Morgan Stanley Private Equity Asia had to overcome trust issues and intense competition to secure its $300 million investment in Tianhe Chemicals. Chief Investment Officer Homer Sun explains how it happened
Asia Awards: VC Deal of the Year – Xiaomi
The hugely successful launch of Xiaomi’s smart phone, and the subsequent $216 million Series C round, justified Morningside Technologies and Qiming Venture Partners’ early faith in the Chinese company
Asia Awards: Exit of the Year – King's Safetywear
Navis Capital Partners' acquisition of King’s Safetywear in 2008 didn’t happen at an opportune time. One week after the firm completed its $62 million take-private deal and de-listed King’s from the Singapore Stock Exchange, Lehman Brothers collapsed...
Cleantech: Moving beyond subsidies
With its reputation for lackluster returns and dependence of government support, investors have shied away from cleantech, but GPs are bullish about its ability to stand on its own feet
Indiareit completes property exits, targets new fund
Indiareit Fund Advisors, the real estate PE arm of Piramal Enterprises, has raised INR4.4 billion ($80 million) on exiting three of its investments and is now preparing to raise another offshore fund worth up to $350 million.
GCS Capital in talks to buy Dexia asset management unit
GCS Capital, a Hong Kong-based private equity firm, is in exclusive talks to buy Dexia’s asset management arm. It is estimated that the deal could be worth EUR500 million, lower than the EUR750 million Dexia was reportedly seeking when it put the asset...
Boyu invests in Hong Kong retailer Stelux
Boyu Capital has invested in Stelux Holdings through a subscription for HK$371 million ($47.8 million) of convertible bonds issued by the Hong Kong retailer. As part of the deal, CEO Joseph Wong said he planned to nominate Boyu’s Mary Ma and Alex Wong...
Goldman Sachs in partial exit from Geely
Goldman Sachs has sold 600 million shares of Hong Kong-listed Geely Automobile Holdings in a deal worth $254 million. The shares were divested after the private equity investor exercised a combination of convertible bonds and warrants.
IDFC PE's Parag Milk Foods seeks to double capacity
Parag Milk Foods, the Indian dairy company that received a INR1.55 billion ($28.7 million) investment from IDFC Private Equity in September, plans to double its capacity by expanding existing production plants and setting up new facilities. It currently...
Samara Capital acquires NewsWire18 for $16.5m
Samara Capital has entered an agreement to purchase a majority stake in Indian news terminal business NewsWire18 for INR900 million ($16.5 million).