Investments
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).
Helion, Footprint invest $6m in restaurant chain Mast Kalandar
Helion Venture Partners is leading a third round of investment in quick service restaurant (QSR) chain Mast Kalandar, which is run by Bangalore-based Spring Leaf Retail.
Goldman invests in PE-backed Fresh Water Group
Goldman Sachs has led a new round of funding for Fresh Water Group, a Chinese purified water service provider already backed by SAIF Partners and Ares Management.
Chinese pork producer Zhongpin agrees PE-backed take-private
NASDAQ-listed Chinese pork producer Zhongpin has agreed to a private equity-backed management buyout by its chairman and CEO, Xianfu Zhu. The deal values the company at $502 million.
Lombard sells 10% stake in Thai department store chain
Lombard Investments has exited its 10% holding in Robinson Department Store, a mid-market retailer in Thailand, for approximately $219 million.
Saratoga, Provident sell Tower Bersama shares - report
Saratoga Capital and Provident Capital have reportedly sold a combined 4.4% stake of Tower Bersama Infrastructure, an Indonesian telecom tower business, through a private placement that fetched as much as IDR1.2 trillion ($125 million).
Oaktree-backed Fusheng buys German air compressor maker
Oaktree Capital Management-backed Fusheng Industrial, Greater China's biggest maker of industrial air compressors, has acquired its German rival ALMiG Kompressoren. ALMiG management has re-invested in the merged entity.
New Zealand’s Xero raises $49m from Valar, Matrix
New Zealand-based online accounting software company Xero has raised NZ$60 million ($49 million) in new capital from US VC firms Valar Ventures and Matrix Capital Management. Valar is backed by Peter Thiel, best known for his early investments in PayPal...
Aureos, GSB exit Thai hospital interest to Malaysia’s KPJ
Aureos Capital and GSB Private Funds – a vehicle set up by Thailand’s Government Savings Bank and managed by ING – have agreed to exit their holdings in Vejthani Hospital to KPJ Healthcare, a hospital chain with assets in Malaysia and Indonesia...
L Capital-backed PVR to buy Cinemax India
PVR, a cinema chain backed by L Capital, will pay INR5.43 billion ($99 million) for a majority stake in domestic rival Cinemax India.
Bain raises $69.7m through Sunac sell-down
Bain Capital has raised HK$540 million ($69.67 million) by selling a portion of its shares in Sunac China Holdings, a Hong Kong-listed Chinese property developer.
Sequoia, Canaan Partners invest $6.3m in Adnear
Sequoia Capital and Canaan Partners have invested INR350m ($6.3 million) in AdNear, a location-based mobile advertising platform, in a Series A round of funding.
TriReme Medical closes $18m round led by Luminor Capital
Singapore-based Luminor Capital has a led a $18 million financing round in TriReme Medica, a medical device company based in Pleasanton, California and Singapore. Major existing investors and new Asian investors also participated.
PE-backed AAG plans $200m Hong Kong IPO – report
Asian American Gas (AAG) Energy, a China-based gas developer backed by Warburg Pincus, Baring Private Equity Asia and Chengwei Ventures, is reportedly planning to raise up to $200 million through a Hong Kong IPO.
India exits: Sticking point
India’s private equity industry is caught in a bind: LPs are wary of committing capital to GPs without evidence of exits, but weak capital markets – and in some cases an unwillingness to sell – are limiting liquidity
HarbourVest raises more than $3b for secondaries fund
HarbourVest Partners has exceeded the $3 billion target for its latest global secondary fund after about one year in the market. According to regulatory filings, Dover Street VIII has accumulated LP commitments of about $3.1 billion, slightly larger than...
Q&A: Everstone Capital's Sameer Sain
Sameer Sain, co-founder and managing partner of Everstone Capital, on exit channels, areas of interest for investments and taking foreign companies into India
CITIC Captial to acquire Japan’s Polymatech
CITIC Capital Partners has agreed to acquire 100% of Polymatech, a manufacturer of polymer parts for the electronics industry, based in Fukushima.
CITIC Capital in advanced talks on AsiaInfo take-private – report
CITIC Capital is reportedly close to securing a management buyout of AsiaInfo-Linkage, the US-listed telecoms software manufacturer, to take the company private. The companies are said to be in advanced talks and the deal was thought to be worth around...
Sequoia backs Chinese online lender Ppdai
Sequoia Capital has invested in a Series A financing round of Ppdai, a Chinese peer-to-peer online lending firm. The capital is expected to expand the company’s capacity on technology infrastructure and marketing campaigns.
Morgan Stanley in China convenience store carve-out
Morgan Stanley Private Equity Asia (MSPEA) is on course to complete a carve-out of China Financial Services Holdings’ (CFSH) convenience store business, Hi-24.