Investments
Navis' Adampak takeover offer now unconditional
Navis Capital Partners has announced that its S$110.7 million ($87.9 million) takeover offer for Singapore-listed Adampak has become unconditional, making its proposed acquisition of the label company almost guaranteed.
CDIB secures over 3x through WeMade exit
CDIB Capital, the overseas investment arm of China Development Financial Holding Corporation, has exited 80% of its investment in Korean online game developer WeMade Entertainment, realizing a money multiple in excess of 3x.
Bain, TPG ask for Lilliput audit report to be made public
Bain Capital and TPG Capital filed an application with Delhi High Court Thursday, requesting that an interim report by a court-appointed independent auditor on portfolio company Lilliput Kidswear be made public. The private equity firms have been in conflict...
Olympus Capital invests $38m in Karur Vysya
Olympus Capital Holdings Asia has bought a 4.8% stake in India’s Karur Vysya Bank for $38.34 million as part of a PIPE transaction. It comes one month after ChrysCapital invested $31 million in the bank.
Australia's Hyperion to enter the private equity space
Australian hedge fund manager Hyperion Asset Management plans to enter the private equity space with the launch of A$200 million ($208 million) fund. It will seek minority positions in businesses with an EBITDA of around A$5 million, which rank second...
Carlyle-backed AvanStrate nixes IPO again - report
AvanStrate, the Japanese LCD glass manufacturer owned by The Carlyle Group, appears to have called off its plans for a $266 million initial public offering for the second time in a year.
General Atlantic raises $129m through Zhongsheng sale
General Atlantic completed its third partial exit from Zhongsheng Group, a Chinese luxury car dealer, raising $129 million. The private equity firm sold 65 million shares at HK$15.33-15.54 apiece, representing a discount of up to 4.3% on the previous...
KKR takes 24% stake in China blood banker
It is a newborn child's first-ever insurance policy: Cord blood, rich in stem cells, is taken from the umbilical cord shortly after birth and placed into storage, only to be used if the child is later stricken by a serious illness. Cord blood can help...
CVC seizes rare chance to buy HK telecom asset
Private equity mega-deals are a comparative rarity in Hong Kong. Discount pre-IPO investments in large Chinese state-owned enterprises and one is left with a number of significant minority transactions and barely a handful of buyouts. Until last week,...
TA continues India spree by backing BillDesk
TA Associates' decision to establish a permanent India presence appears to be paying off. The firm’s first investment in the country was completed in 2006 but four of its five deals have come since the Mumbai office opened in late 2009. BillDesk, an online...
First quarter analysis: Asia struggles to locate its exits groove
Little to cheer in the exit landscape; China growth deal pipeline continues to weaken; India telecom tower buyout not a sign of things to come
Bamboo Finance backs Greenlight Planet in $4m round
Bamboo Finance has invested in Greenlight Planet, a manufacturer of solar-powered lanterns, in a $4 million funding round alongside existing investor P.K. Sinha, co-founder of ZS Associates.
India's NSE considers stock exchange listing
General Atlantic-backed National Stock Exchange of India (NSE) is considering a listing on the public markets, but first need to consider the impact of upcoming rules.
KKR in new push for MMI IPO – report
KKR has reportedly revived plans to exit MMI International, the precision-engineering company it took private in 2007, through a Singapore IPO. The offering could generate $400-500 million, but it is unclear how much of its holding the private equity...
Wolseley-backed Nextmedia acquires magazines from CVC's ACP
Nextmedia, the Australian magazine publisher owned by Wolseley Private Equity, has acquired two publications from ACP Magazines, the magazine division of CVC Asia Pacific-backed Nine Entertainment.
Blackstone pays $770m for Dexus Property assets
The Blackstone Group has paid $770 million for 65 US industrial assets owned by Australia’s Dexus Property Group. Investing via affiliates of Blackstone Real Estate Partners VII, the firm will acquire properties including three warehouses leased to Whirlpool...
InnoSpring launches US-China technology incubator
InnoSpring, Silicon Valley's first US-China technology incubator, began operations last week to support the expansion of US and Chinese start-ups beyond their home countries. The incubator also announced the establishment of its InnoSpring Seed Fund....
Goldman completes third partial exit from ICBC
Goldman Sachs has completed another partial exit from its holding in Industrial and Commercial Bank of China (ICBC), selling $2.5 billion worth of H-shares. Temasek Holdings said it picked up $2.3 billion of the block sale, which amounts to a 1.3% stake...
Investors inject $45.5b in China clean energy
Investment in China’s clean energy sector stood at $45.5 billion last year, which saw China lose its number-one status to the US for the first time since 2009.
Unitus Seed Fund backs Indian rural distribution start-up
Unitus Seed Fund, a US-based VC firm that targets social start-ups, has invested in Chennai-based Villgro Innovation Marketing (VIM) in a seed series of funding alongside a group of angel investors.
KKR invests $65m in Chinese cord blood bank operator
KKR has agreed to invest $65 million into China Cord Blood Corporation (CCBC), the largest umbilical cord blood banking operator in China. It is the private equity firm’s first foray into the country’s fast-growing healthcare services industry. CCBC will...
Mount Kellett raises $4b for second special situations fund
Mount Kellett Capital Management, the private equity firm started by former Goldman Sachs executive Mark McGoldrick, has closed its second fund at $4 billion. The vehicle, which targets special situation and opportunistic investments, is $1 billion larger...
Manipal Hospitals to raise $29m from private equity
Manipal Hospitals, India’s third largest healthcare group, is seeking as much as INR1.5 billion ($29 million) from private equity firms for a minority stake in order to fund expansion.
India's IHG buys UK food producer from Duke Street
India Hospitality Group (IHC) has acquired UK-based ready-made food producer Adelie Food Holding from Duke Street Capital for $350 million. The deal – the largest overseas acquisition by an India-focused food and beverage company in six years – is said...