Investments
Longreach reaps 60% IRR on Sanyo Logistics sale
The Longreach Group has reaped an IRR of 60% and a money multiple of around 2.5x on its 24.2 billion yen ($300 million) sale of Japanese logistics company Sanyo Electric Logistics.
Citigroup sells $1.9b stake in Carlyle-backed HDFC
Citigroup has sold its 9.85% stake in India’s largest mortgage lender Housing Development Finance Corp (HDFC) for $1.9 billion. The deal comes three weeks after The Carlyle Group sold part of its stake in the company for a 2x money multiple.
Billabong still in talks with TPG over buyout offer
Talks are ongoing between TPG Capital and Billabong over the private equity firm’s A$765 million ($820 million) takeover bid for the Australian surfwear manufacturer. TPG made a revised offer last week but it was still at the same indicative price of...
Providence-backed WTC bolts on USM Events
World Triathlon Corporation (WTC), the Australian athletic events organizer owned by Providence Equity Partners, has acquired event management company USM Events.
IDFC PE injects $30m into Staragri Warehousing
Infrastructure investor IDFC Private Equity has led a INR1.5 billion ($30 million) funding round for Indian agri-services provider Staragri Warehousing and Collateral Management.
South Korea's Hi-Mart attracts interest from Tesco – report
Hi-Mart, the South Korean electronics retailer that Affinity Equity Partners exited in 2008, is about to change hands once again, with UK retailer Tesco tipped to bid for the asset. Several South Korean retailers are also said to be interested, as are...
Sony, Toshiba get state funding for outbound investment
Sony Corp. and Toshiba Corp. will be the first companies to receive capital from a $100 billion government fund set up last year to finance overseas acquisitions and minimize the impact of a rising yen. The strength of Japan’s currency has hurt export...
Red Fort boosts 3C Gurgaon project with $30m
Private equity firm Red Fort Capital Advisors has injected INR1.5 billion ($30 million) into a residential project designed by developer 3C Company in New Delhi, India.
Quadrant, APN announce outdoor advertising JV
Quadrant Private Equity has agreed to form an outdoor advertising joint venture with APN News & Media worth A$272 million ($289 million). APN had decided further investment was required to support expansion and entered into exclusive negotiations with...
Abraaj acquires emerging markets SME specialist Aureos
When Omar Lodhi took charge of Abraaj Capital’s Asia business, the idea was to pursue organic growth. The private equity firm opened an office in Singapore early last year and then one in India, where it already had a joint venture with Sabre Capital...
KKR, TPG consider AsiaInfo bid – report
Several private equity firms – including KKR and TPG Capital – and strategic investors are reportedly considering bids for AsiaInfo-Linkage, the US-listed firm that is already subject to a buyout offer from CITIC Capital.
Narula to sell Lilliput, allowing Bain and TPG to exit
Lilliput, the kidswear brand that has been embroiled in bitter fight with shareholders Bain Capital and TPG Capital, plans to sell off its brands and retail business.
Catalyst backs Australian offshore oil services provider
Catalyst Investment Managers has acquired a minority stake in Bhagwan Marine, a logistics provider to the offshore oil and gas industry in Australia. The size of the transaction was not disclosed.
MMI relies on US investors for $300m high-yield bond
KKR-owned MMI International successfully issued its $300 million high-yield bond, principally attracting interest from US investors due to their familiarity with the sector and the company’s customer base. The five-year non-call bond was priced at a yield...
Abraaj Capital buys Aureos to boost emerging markets exposure
Abraaj Capital has acquired Aureos Capital, creating an entity with approximately $7.5 billion in assets under management and 150 investment professionals across 30 countries. The purchase enables Dubai-headquartered Abraaj, which focuses on the Middle...
CyberAgent Ventures backs Vietnam game developer
CyberAgent Ventures has invested an undisclosed sum in Colorbox Software Corporation, a Vietnam company that develops smart phone games for the global market. This is the second investment made through CA Asia Internet Fund, which targets deals in Southeast...
CVC cuts price for Nine's magazine division – report
CVC Asia Pacific is reportedly willing to listen to offers of as little as A$300 million ($323 million) – or 3x earnings – for Nine Entertainment’s magazine division after receiving little interest from prospective buyers. The sale of ACP Magazines would...
TPG submits Billabong takeover bid despite initial rebuff
TPG Capital has made its A$765 million ($825 million) bid for Billabong regardless of the Australian surfwear company’s attempt to head off a takeover by announcing both the partial sale of one of its most profitable brands and plans to close 150 stores....
Blackstone, Carlyle agree $4b Reliance Infratel buyout
The Carlyle Group and The Blackstone Group have signed a term sheet to buy up to 95% of Reliance Communications’ telecoms tower unit, Reliance Infratel.
Westbridge, Intel in $15m July Systems round
Westbridge Capital, the Indian private equity firm spun out of Sequoia Capital, has participated in a $15 million round of funding for US mobile application platform provider July Systems. Technology-focused investor Updata Partners led the investment,...
Shaw Kwei in take-private deal for Singapore electronics firm
Shaw Kwei & Partners has delisted electronics manufacturer Beyonics Technology from the Singapore Stock Exchange. This follows a $110 million buyout by Channelview Investment, a subsidiary of the private equity firm.
CVC-backed Cellnet on hunt for tech bolt-ons - report
Private equity firm CVC has reportedly begun searching for tech start-ups to bolt on to its Australian mobile accessories distributor, Cellnet.
First Eastern backs Sustainable Development Capital
First Eastern Investment Group, a Hong Kong-based investor with interests in private equity and venture capital, has acquired a minority stake in Sustainable Development Capital (SDCL). The two firms have also set up an Asia-focused joint venture.
APN in exclusive negotiations with Quadrant Private Equity
APN News & Media has entered into exclusive negotiations with Quadrant Private Equity concerning its outdoor advertising business. It comes after a strategic review concluded that the asset shouldn’t be sold but that further investment was required to...