Investments

Carlyle raises $738m in latest China Pacific sell-down

The Carlyle Group has sold $723 million of shares in China Pacific Insurance (CPIC) through a block trade, marking the private equity firm's fifth partial exit from the company since December 2010. Total returns are in excess of $4 billion, putting Carlyle...

CVC seeks investor for Nine - report

CVC is seeking an investor to purchase a significant equity stake in the debt-laden Nine Entertainment. The transaction would allow the private equity player to reduce its $2.9 billion in senior loans due for repayment in February 2013.

Navis sells Nirula's to Indian trade buyer

Malaysia-based private equity firm Navis Capital Partners has sold its 100% stake in Indian restaurant chain Nirula's Corner House to hotel and real estate group A2Z Excursions.

TLG Capital bets on Myanmar cruise company

UK private equity firm TLG Capital is reportedly planning to establish a company that will operate cruises in Myanmar, investing via its holding in Compagnie Fluviale du Mekong, one of Cambodia's oldest river cruise businesses.

STIC exits Jeil Hydraulics for 3.1x return

STIC Investments has exited its stake in Jeil Hydraulics, a Korean manufacturer of hydraulic motors and related components, to Eaton Corporation for KRW30.8 billion ($26.8 million). The investment generated a 3.1x money multiple.

Warburg sues Titan Petrochemicals in Hong Kong

Warburg Pincus has sued portfolio company Titan Petrochemicals Group and some of its executives in Hong Kong’s High Court, citing misrepresentation and breaches of contract. This comes as the debt-laden shipping and oil storage firm continues talks...

A Capital backs Bang & Olufsen for China growth

A Capital has teamed up with Chinese luxury goods distributor Sparkle Roll to pay $30 million for a 7.71% stake in Denmark's Bang & Olufsen (B&O). The electronics manufacturer is looking to increase sales in China to offset weak demand in Europe and the...

Coller closes new secondaries fund above target at $5.5b

Coller Capital has reached a final close of $5.5 billion on its latest global secondaries fund. The new vehicle is larger than its predecessor, which closed in 2007 at $4.8 billion, and above the initial fundraising target of $5 billion. The fund has...

Creador confirms MNC Skyvision investment

Creador Capital has confirmed it invested $28 million in Indonesian pay TV operator MNC Skyvision’s IDR2.15 billion ($228 million) IPO. The committed capital includes $13 million from a co-investor.

CHAMP Private Equity’s oOh!media to buy Eye Corp

CHAMP Private Equity’s oOh!media has agreed to buy Eye Corp, Ten Network Holdings’ outdoor advertising business. The deal values Eye at up to A$145 million, of which A$120 million will be paid in cash on completion, with the remainder due in three...

Carlyle shelves plans to exit Taiwan’s Ta Chong Bank

The Carlyle Group is no longer looking to sell its stake in Taiwan's Ta Chong Bank, citing tough global market conditions. The news comes after potential buyer Yuanta Financial reportedly walked away from a deal that valued the lender at up to T$37 billion...

India’s Reliance Mediaworks to raise $110m from PE

Reliance Mediaworks (RMW), a Indian film and entertainment services company controlled by billionaire Anil Ambani, has raised INR6.05 billion ($109.7 million) from a foreign private equity fund. The capital will be used to cut debt and for business expansion.

China to buy LP interests from GM pension plan

The Chinese government has agreed to buy stakes in a string of private equity funds, including vehicles managed by The Carlyle Group, The Blackstone Group and CVC Capital Partners, from General Motors’ (GM) pension plan.

PE-backed Manipal Global considers stake sale – report

Several PE firms and UK media conglomerate Pearson are reportedly considering a stake purchase in Manipal Global. The transaction would facilitate the exits of IDFC Private Equity and Capital International, which together hold more than 12% of the company.

Australia’s PEP sells Hoyts Distribution to Studiocanal

Pacific Equity Partners (PEP) has exited Hoyts Distribution, the largest independent film distributor in Australia and New Zealand, to European film giant Studiocanal. The private equity retains other Hoyts Group assets, including cinema operator Hoyts...

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Cornerstone investors: Public market props

Weak investor sentiment means that many Asian IPOs need cornerstone investors to cover part of the offering and provide momentum. Why are private equity firms getting in on the action?

CHAMP in $192m take-private bid for Gerard Lighting

CHAMP Private Equity has launched a A$186 million ($192 million) takeover bid for Australian light fittings distributor Gerard Lighting Group. The bid has won unanimous approval from Gerard’s board and the Gerard family, which has a 52% stake, has said...

Potential PE target Ingham Chicken goes on the block

Ingham Enterprises, Australia’s largest poultry producer, has put itself up for sale, alerting potential private equity bidders. Sole shareholder Bob Ingham he had decided to exit “after long and careful consideration.” Investec has been appointed...

PE-backed Whitehaven Coal receives $5.5b takeover bid

Private equity firms First Reserve and Farallon Capital have reportedly expressed their support for a A$5.3 billion ($5.46 billion) takeover bid for their portfolio company Whitehaven Coal. Coal magnate Nathan Tinkler last Friday offered A$5.20 per share...

VIDEO: Clifford Chance's Lee Taylor

Indonesia has aroused enormous interest among foreign investors but valuations remain an issue, according to Lee Taylor, a partner with Clifford Chance in Singapore. There have been huge dislocations between buyers and sellers generally since the global...

Navis exits India call center business via trade sale

Navis Capital Partners has sold its majority stake in Andromeda Sales and Distribution, an Indian financial services distributor, to Casa Capital Management. It is the Malaysia-based private equity firm’s fourth exit in six months.