Investments
Goldman dilutes stake in ICBC for $1.1b
Goldman Sachs has divested $1.1 billion worth of shares in Industrial and Commercial Bank of China (ICBC), bringing the total capital it has raised across three sell-downs to $5.26 billion.
Ex-Och-Ziff exec sets up Clifton Real Estate
A former employee of Och-Ziff Capital Management Group has established a new Singapore-based firm which will invest in small and medium-sized properties.
Samsung’s MRO sale flatters to deceive
Online shopping mall Interpark’s purchase of iMarketKorea from Samsung Group last week might be described as the deal that failed to live up to first impressions.
Navis reaps 50% IRR on King’s trade sale
Navis Capital Partners has given its investors reason for cheer. Not only did the firm exit its 2008 investment in King’s Safetywear last week for well above 50% IRR (4-5x money multiple), it also signed off the buyout of the field marketing and retail...
Investors eye openings in Asia special situations
Distressed opportunities are being flagged up as a key investment area in Asia as several economies in the region face slowing growth and tightening monetary conditions.
GPs highlight merits of differentiation – AVCJ Forum
General partners stressed the need for differentiation in devising strategies to capitalize on private equity growth in Asia Pacific.
Carlyle invests in Fabindia, Wolfensohn exits
The Carlyle Group has outbid its private equity competitors to buy a stake in Fabindia, in a deal which values the ethnic wear chain at INR14 billion ($286 million).
Quadrant sells Australian jeweler to Indian trade player
Quadrant has sold its Australian portfolio company The Jewellery Group to M Suresh Group DMCC, a global jewelry maker based in Mumbai.
PE firms close in on Yahoo acquisition
Several prospective buyers of Yahoo have signed confidentiality agreements in order to get a closer look at the company’s finances.
Gresham seeks buyer for New Zealand's Noel Leeming Group
Australian PE firm Gresham has reportedly appointed Macquarie Group to advise on the sale of New Zealand appliance retailer Noel Leeming Group, an asset that it has owned for seven years.
ICICI Venture circles Videocon Industries unit
ICICI Venture, the private equity arm of India’s ICICI Bank, has expressed an interest in buying Videocon Industries’ direct-to-home (DTH) broadcast services unit, D2H.
Equity International, GTI invest $75m in Indian hotel developer
US investment firms GTI Capital Group and Equity International (EI) have injected $75 million into Indian hotel developer SAMHI.
Investor consortium pays $1.6b for 5% of Alibaba
Silver Lake, Yunfeng Capital and other investors have purchased a 5% stake in Chinese e-commerce firm Alibaba Group, worth $1.6 billion. The transaction is thought to be the tender offer made to employee shareholders and option holders, as well as certain...
PEP invests $670m in SCA's Australasian arm
Pacific Equity Partners (PEP) has invested $670 million in a joint venture with Svenska Cellulosa Aktiebolaget (SCA) to develop the company’s Australasian arm, SCA Hygiene Australasia.
Southeast Asia takes on the neighbors
Southeast Asia is increasingly popular as an investment destination for private equity firms, but can it compete with China and India?
China MBOs: The problem with privatizations
With stock prices undervalued, company chairman and private equity investors are eyeing potential privatizations among US-listed Chinese companies. It isn’t as easy as it seems.
Baring raises $52m in Yingde sell-down
Baring Private Equity has raised HK$402.5 million ($52 million) through the block sale of Yingde Gases shares on the Hong Kong Stock Exchange, reducing its holding in the company by one third.
Bain, TPG told to give Lilliput founder first refusal on shares
The Delhi High Court has forbidden Bain Capital and TPG Capital from selling their shares in Lilliput Kidswear without first offering them to Sanjeev Narula, the company’s founder.
VIDEO: PineBridge Investment's Michael Chae
Secondaries in Japan are gaining greater prominence given the role of the asset class in delivering returns to conservative LPs, says Michael Chae, managing director of PineBridge Investments
Navis sells King's Safetywear to Honeywell International
Navis Capital Partners has exited its undisclosed majority stake in Southeast Asian industrial footwear brand King’s Safetywear to Honeywell International for an enterprise valuation of S$430 million ($338 million).
Quadrant-backed Summerset struggles on trading debut
Summerset Group, the New Zealand retirement village operator owned by Quadrant Private Equity, saw its stock open above the IPO price of NZ$1.40 on Tuesday, although it closed marginally below it. The price slumped a further 2.84% to NZ$1.37 on Wednesday.
Composition Capital launches Taiwanese real estate JV
Composition Capital Partners has entered into a real estate joint venture with an unnamed Taiwanese investment manager currently part of its portfolio.
Harbin Electric shareholders approve MBO
Harbin Electric’s shareholders have approved a privatization bid for the company put forward by chairman and CEO Tianfu Yang and supported by Abax Global Capital. The deal, which received board backing in June, is expected to close within a week.
Owners of IT specialist Hexaware to sell their stakes
The owners of publicly listed Mumbai-based IT services provider Hexaware Technologies, which include PE firm General Atlantic, are looking to sell their stakes in the company.