Investments
Mengniu in talks to buy KKR-backed Modern Dairy - report
Hong Kong-listed China Mengniu Dairy, the country’s largest dairy producer, has reportedly held talks to acquire China Modern Dairy, the raw milk supplier in which KKR Asia Fund owns 24%.
Goldman sells Japanese contractor for $636m
Goldman Sachs has sold Japanese contractor Fujita Corp to local home builder Daiwa House Industry for JPY50 billion ($636 million), representing an exit from one of its longest investments in the country.
Quadrant and Ironbridge complete Australian retail buyout
Australian private equity groups Quadrant Private Equity and Ironbridge Capital have realized a buyout of specialized retail businesses Super A-Mart and Barbeques Galore.
Carlyle picks up 14% of Meinian Onehealth
Global private equity major The Carlyle Group has acquired a 13.5% stake in Meinian Onehealth Healthcare, the largest private provider of preventive healthcare check-up services in China.
Clove Capital achieves over 20x from Energy Best exit
Clove Capital has achieved a cash multiple of more than 20x through its divestment of Philippines-based oil company Energy Best to Peak Oil and Gas, a wholly-owned subsidiary of ASX-listed Raisama Energy.
Goldman, NEA invest in India’s Nova Medical Centers
Goldman Sachs and New Enterprise Associates (NEA) have invested INR 3 billion ($54 million) in Nova Medical Centers, an Indian surgical care and fertility clinics company. The investments will be used to expand the company's specialty surgery and fertility...
Focus Media receives $3.5b buyout offer from PE players
US-listed Focus Media has received a $3.5 billion offer from its chief executive and a group of private equity giants to take the company private. If the deal goes through, the leveraged buyout could be China's largest, and Focus Media could be the largest...
SBI, Macquarie pump $150m into Ashoka Buildcon unit
Two private equity funds managed jointly by State Bank of India and Macquarie Bank of Australia have agreed to invest $150 million in the road construction division of Indian roads and bridges operator Ashoka Buildcon.
IndoUS Ventures backs online furniture retailer
IndoUS Venture Partners has invested $1 million in UrbanLadder.com, an Indian online furniture store run by Bangalore-based Descasa Decor Online. The company will use the capital to enhance its technology and customer service infrastructure.
India Innovation Fund invests in India’s iKen Solutions
India Innovation Fund (IIF) has invested in iKen Solutions, a research spin-off of The Indian Institute of Technology in Bombay. The investment will be used to scale up the company’s execution and commercialization capabilities.
PE-backed hiSoft merges with VanceInfo
hiSoft Technology International, a major China-based company backed by investors including Wellington Management, Crosslink Capital and HarbourVest Partners has merged with VanceInfo Technologies.
Warburg forms JV to restructure Titan subsidiary
Warburg Pincus has formed a joint venture with SouthernPec Corporation as part of a restructuring proposal to the liquidators of Titan Group Investment Limited (TGIL), a business jointly owned by Warburg Pincus’ affiliate Saturn Storage and Hong Kong-listed...
StanChart PE invests $15m in IFC-backed Craftsman Auto
Standard Chartered Private Equity (SCPE) has invested INR850 million ($15.4 million) for a minority stake in Craftsman Automation, a Coimbatore-based multi-product engineering company. Craftsman Automation will use the money to expand its manufacturing...
Equis invests $200m in Thai solar assets
Singapore-based infrastructure GP Equis Funds Group has reportedly channeled $200 million into acquiring 100% of a portfolio of solar energy assets in Thailand.
Chinese investors sign DreamWorks JV
Media fund China Media Capital, investment company Shanghai Alliance Investment Co and media conglomerate Shanghai Media Group have established a joint venture with American film studio DreamWorks.
Mercatus invests in India’s PurpleStream Convergence
PurpleStream Convergence, a Chennai-based video streaming services provider, has raised funding from Mercatus Capital and content producer Hub Media.
Navis profits from Pearson’s expansion drive
Pearson's M&A activity follows a familiar emerging markets theme. In May the education and publishing company bought GlobalEnglish, a cloud-based English-language learning specialist with 75% of its subscribers in Asia and Latin America.
Bain in bumper $1b deal for India’s Genpact
Indian business process outsourcing (BPO) firms, once a prime target for private equity investment several years ago, have inevitably become a hive of exit activity. The Blackstone Group last year sold its 66.25% stake in Intelenet Global Services to...
China grants private equity an A-share investment platform
China’s securities regulator has loosened restrictions on participation in the Qualified Foreign Institutional Investor (QFII) program and opened the door to private equity firms. Do they want to go through it?
Asia’s first secondary real estate trading platform launches
Asia Pacific’s first trading platform for buyers and sellers of secondary interests in real estate funds was launched this week by Jones Lang LaSalle.
History lessons of PE in Asia
With 2012 marking the 25th anniversary of the AVCJ Hong Kong Forum – and, give or take a year, the Asian Venture Capital Journal itself – we have been taking a trip down memory lane for some special content to be released later in the year. This involves...
Taiwan’s PharmaEngine signs Asia deal with VC-backed Nanobiotix
Taiwanese biopharmaceutical company PharmaEngine has agreed to form a strategic partnership with VC-backed Nanobiotix, to hasten the development of one of the French nanomedicine firm’s products.
Accura Infotech in talks to raise $36m from PE firms
Mumbai-based Accura Infotech, which installs automated teller machines (ATMs), is in advanced talks with private equity investors to raise up to INR2 billion ($36 million) to set up and operate ATMs for public sector banks in Uttar Pradesh. The company...
Atinum mulls $350m STX Energy bid
Korea’s Atinum Partners is reportedly considering making a bid for STX Energy Co, the privately-held subsidiary of Korea Exchange-listed STX Group. The deal could value the company at up to KRW400 billion ($$354 million).