Investments
Japan's DRC nets 1.5x return on Yumeshin exit
Mid-market Japanese GP DRC Capital has exited from its investment in Yumeshin Holdings, an outsourcing service provider in the construction industry, generating a 1.5x return and a gross IRR of 8.3%.
CVC's Australia head resigns
CVC Capital Partners’ Adrian MacKenzie, the managing partner responsible for investments in Australia, has resigned. The move comes as the private equity firm prepares to write off almost the entire A$1.9 billion ($1.97 billion) in equity that was pumped...
PE firms, sovereign funds support Alibaba's Yahoo buyback
China Investment Corporation (CIC), Boyu Capital, CITIC Capital and CDB Capital participated in a $3.9 billion equity issue by Alibaba Group alongside existing investors including Silver Lake, DST Global and Temasek Holdings. The financing was used to...
IDFC PE invests $28.7m in Indian dairy firm
IDFC Private Equity has invested INR1.55 billion ($28.7 million) in Parag Milk Foods in what could be one of the largest PE transactions in the Indian dairy sector. The proceeds will facilitate a partial exit to Motilal Oswal Private Equity, which invested...
MGPA acquires Australian property for $110m
MGPA, a private equity real estate investment firm, has acquired a property of retail and office spaces located in Sydney, Australia, for A$105.1 million ($110 million).
Warburg Pincus sells extra 4.2% of Moser Baer
Warburg Pincus has offloaded almost half of its remaining shares in listed optical media products maker Moser Baer India through open market transactions, reportedly at a substantial loss.
NBC Capital reaps 20% IRR from Fenix Fitness
When it comes to assisting the growth of their portfolio companies, some PE firms are more hands-on than others. At the more pro-active end of the scale sit the likes of NBC Capital, which during its four-and-a-half-year ownership of local health club...
Tsinghua's TEEC raises $1.4m for US-China angel fund
Tsinghua Entrepreneurs & Executive Club (TEEC), a group set up by VC-oriented alumni of China’s Tsinghua University, has raised $1.4 million for its second angel investment fund. The vehicle launched in June and has a final target of $8 million.
L Capital Asia in talks to back India's Kingdom of Dreams – report
LVMH Group's private equity investment arm L Capital is reportedly investing around INR2 billion ($37 million) in The Great India Nautanki Company (GINC), which runs the Gurgaon-based Kingdom of Dreams, an entertainment destination designed to play host...
CVC, RBS raise $286m in Samsonite sell-down - report
CVC and Royal Bank of Scotland (RBS) have reportedly sold a combined 153.6 million shares in Hong Kong-listed Samsonite International, the world’s biggest travel luggage company, for HK$2.22 billion ($286 million). The deal accounted for roughly 10% of...
Motilal Oswal PE invests in Indian realty project
Motilal Oswal Private Equity Advisors has teamed up with two real estate firms - Supreme Universal and the Mirchandani Group – to invest INR600 million ($11 million) in an Indian realty project.
Blackstone ups Financial Technologies stake to 6%
The Blackstone Group has increased its stake in financial services company Financial Technologies India to more than 6% through open market transactions.
NBC Capital sells Fenix Fitness Clubs for $64m
NBC Capital has sold its Australian health club chain Fenix Fitness Clubs to Ardent Leisure Group for A$60.9 million ($64 million).
Goldman, Temasek to part-exit Bharti Infratel via $1b IPO
Goldman Sachs, Temasek and Nomura are among the investors planning to offload part of their shareholdings in the mobile phone tower unit of Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, which has filed for an IPO.
CVCI achieves 2x return on Chinfon Vietnam exit
Citi Venture Capital International (CVCI) has achieved a return of 2x on its exit from Chinfon Vietnam, after holding the company for four years.
Creation Investments leads $6.4m Sonata Finance round
Sonata Finance, an Indian microfinance institution (MFI), has raised INR350 million ($6.4 million) in a Series D financing round led by Chicago-based Creation Investments. Promoter Anup Kumar Singh and two existing investors in the company - family office...
India's DesiCrew raises $1.3m from VC players
DesiCrew Solution, a rural business process outsourcing (BPO) service provider, has raised INR70 million ($1.3 million) in a Series B round from social investment manager responsAbility and Ventureast Fund Advisors India. The capital was channeled through...
Carlyle offers LPs quick exit route from Asia fund
The Carlyle Group has introduced a liquidity mechanism for its latest Asia buyout fund that facilitates the exit of LPs that want to sell their positions in the vehicle, industry participants tell AVCJ. The private equity firm has used a similar mechanism...
Goldman rejects hedge funds' Nine restructuring plan
Goldman Sachs has rejected a counter-proposal from hedge funds Oaktree Capital and Apollo Global Management for restructuring Nine Entertainment, the Australian media company owned by CVC Capital Partners.
Corporate Japan more open to PE partnerships – AVCJ Forum
Corporate Japan is more open to the idea of working with private equity partners, but ensuring alignment of interests remains a challenge, according to David Shen, regional managing director of Olympus Capital Holdings Asia.
IndoUS Ventures leads Vyome Biosciences Series A round Partners
Vyome Biosciences, a Delhi-based biopharmaceutical company that focuses on dermatology, has raised $3.3 million in Series A financing. The round was led by IndoUS Venture Partners, with Aarin Capital and existing investor Navam Capital also participating....
Global buyout firms see rich pickings in Japan – AVCJ Forum
The scope for private equity buyouts in Japan is widening due to falling public market valuations and clear opportunities for value-add within portfolio companies, according to panelists at the AVCJ Japan Forum, which opened in Tokyo on Thursday.
CITIC PE backs $331m take-private bid for China's 3SBio
CITIC Private Equity is supporting a $331 million management buyout offer for NASDAQ-listed Chinese pharmaceuticals company 3SBio. It is the latest in a string of attempted take-private deals for US-traded Chinese firms that for a variety of reasons are...
Temasek, Bain in race for TPG's Shriram Transport stake - report
Temasek Holdings, Bain Capital and Piramal Group, a conglomerate run by Ajay Piramal, are reportedly leading the race to acquire TPG Capital's 20% stake in Shriram Transport Finance Corp (STFC), one of the leading commercial vehicle lenders in India....