Investments
Baring-backed Courts Asia targets $112m IPO
Baring Private Equity Asia (BPEA) portfolio company Courts Asia has launched its Singapore IPO with a view to raising S$137 million ($112 million). The electronics and furniture retailer is offering 178 million shares, of which 60 million are new shares,...
SCPE makes second investment in PepsiCo's South Asian bottler
Standard Chartered Private Equity (SCPE) has invested a further INR1.7 billion ($32 million) in Varun Beverages (VBIL), the largest bottler for PepsiCo in South Asia.
Blackstone pays $100m for minority stake in International Tractors
The Blackstone Group has committed $100 million for a 12.5% stake in India's International Tractors (ITL). The capital will be used to expand production and pursue overseas acquisitions.
Nalanda Capital makes more than 2x return on Shree Cement
Singapore-based private equity firm Nalanda Capital has sold a 1.61% stake in north India’s largest cement producer Shree Cement for INR2.13 billion ($40.9 million) through a bulk deal on Bombay Stock Exchange. The partial exit generated a money multiple...
500 Startups hires India investment professional
500 Startups, the US-based incubator founded by serial entrepreneur Dave McClure, has hired Pankaj Jain to head up its India operations. He was previously consulting for TLabs in New Delhi, focusing on deal sourcing and running the start-up accelerator...
CVC considers Matahari share sale – report
CVC Capital Partners has reportedly asked bankers to advise on selling shares in Matahari Department Store, the Indonesian retailer it acquired two years ago for INR7.2 trillion ($616.3 million). It remains the largest ever private equity investment in...
Carlyle to sell stake in HDFC – report
The Carlyle Group is poised to sell its 3.7% stake in mortgage lender Housing Development Finance Corp. (HDFC) for approximately $850 million.
Billabong says TPG talks continue despite diligence concerns
Billabong said that buyout negotiations with TPG Capital continue after its stock plunged 20% on reports that the private equity firm was poised to walk away from the A$694 million ($709 million) deal. Trading was halted as the share price fell from A$1.30...
Oaktree exits aircraft leasing firm to Japan’s Mitsubishi UFJ
Oaktree Capital Group has sold aircraft leasing firm Jackson Square Aviation to Japan’s Mitsubishi UFJ Lease & Finance Co. for JPY100 billion ($1.3 billion).
Morgan Stanley supports Feihe International MBO bid
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with the chairman and CEO of Feihe International to make a buyout offer for the US-listed Chinese company. The transaction values Feihe, a leading producer of infant formula and milk powder, at...
Fulcrum reaps 10x from Casa Grande exit
SME-focused private equity firm Fulcrum Venture India has reaped a money multiple of 10x from its investment in Indian real estate company Casa Grande.
China’s Cathay Fortune in $848m takeover bid for Discovery Metals
Cathay Fortune Corp, a private equity firm founded by Chinese billionaire Yu Yong, has made a A$830 million ($848 million) takeover bid for Australian copper producer Discovery Metals. A fund set up by China Development Bank (CDB) is supporting the proposed...
Australian infrastructure: Changing tastes
Australia’s superannuation funds are active infrastructure investors, but the size and nature of commitments to the asset class are influenced by past experience, available resources and risk appetite
PE marginalized on Japan restructuring
The outbound trend sweeping through Japanese private equity owes a partial debt to last year’s earthquake, tsunami and subsequent nuclear crisis. Yes, the economic, demographic and industrial arguments for overseas expansion have been coalescing for...
Actis in Chinese casual dining MBO
Networks count, and nowhere more so than in China. This was especially evident during Actis’ investment in Shanghai-based casual dining chain Bellagio, announced last week.
Actis invests in Sri Lankan hospital chain
Emerging markets-focused private equity firm Actis has invested $32 million for approximately 30% of Asiri Hospital Holdings (AHH), Sri Lanka’s largest private hospital group. The company operates three facilities in Colombo and two in Matara, with...
Baring PE Asia in new attempt at Courts IPO
Baring Private Equity Asia has resumed efforts to list electronics and furniture retailer Courts Asia in Singapore. The PE firm, which controls Courts through Asia Retail Group, attempted an IPO in 2010 but withdrew the offer due to valuation concerns.
Intel Capital invests in five Asian companies
Intel Capital, the venture capital arm of Intel Corp, has invested $40 million in 10 companies, half of which are from China, India, South Korea and Taiwan.
Next-backed Hirepool in talks to buy Tasman Capital-owned HireQuip - report
Hirepool, the New Zealand rental equipment specialist owned by Australian private equity firm Next Capital, is reportedly in exclusive talks to purchase its indebted rival, HireQuip, which is owned by Sydney-based Tasman Capital.
Everstone, JLL in India property management tie-up
Everstone Capital has reached an agreement with Jones Lang LaSalle India under which the property manager will assume responsibility for four shopping malls in Pune, Kochi, Vadodara and Ahmedabad. It will provide leasing services and oversee operations,...
VenturEast hires ex-DFJ partner to run India seed fund
India-focused VC firm VenturEast has hired Sateesh Andra, formerly a partner at Draper Fisher Jurvestan, to head up its seed-stage technology fund. His remit is to create a Silicon Valley-like incubation ecosystem and help companies tap into global venture...
Navis invests in Vietnam pharma firm
Navis Capital Partners has invested into OPV Pharmaceutical, a major Vietnamese branded generic pharmaceutical manufacturer.
IDFC reaps 2x on Gujarat Pipavav partial exit
IDFC Alternatives has sold off more than 4% of Indian container terminal Gujarat Pipavav Port for $18.7 million, reaping a money multiple of 2x on its initial investment.
Cerberus to exit Japan’s Aozora Bank
Cerberus Capital is planning to sell its $2.5 billion stake in Japanese lender Aozora Bank after a 12-year holding period.