Investments
Indian authorities reverse decision on options
The Indian government has backtracked on a month-old order on foreign direct investment (FDI) transactions that threatened private equity exits by limiting the use of put and call options.
PE firms back Chinese Wonton restaurant chain
Qiming Ventures, Hotung Investment and Mitsui Global Investment have committed $20 million in Series B funding to YPX Cayman Holdings, which operates casual food and beverage chain Cloud 9. The company also received personal investments from the founders...
Interpark-led consortium buys iMarketKorea for $378m
A consortium led by Interpark, the Korean online shopping mall operator, has agreed to purchase Samsung Group’s procurement arm iMarketKorea in a deal worth more than KRW422 billion ($378.4 million). Private equity firm H&Q and the Korea Venture Business...
Vogo to sell down part of its Tong Yang Life Insurance holding
Vogo Investment is planning to sell down part of its 61% stake in Tong Yang Life Insurance, a subsidiary of mid-size South Korean conglomerate Tong Yang Group.
Blackstone sees opportunities in China's 'economic dislocations'
China’s slowing GDP growth should create “economic dislocations” that translate into acquisition opportunities for foreign investors, according to Stephen Schwarzman, chairman and CEO of The Blackstone Group.
Mitsui backs US mobile advertising platform
Mitsui & Co. has participated in a $14 million round of fundraising for US-based mobile advertising and media company 4INFO, alongside Vulcan Capital and existing investors Draper Fisher Jurveston, Gannett, Mezzanine Capital and US Venture Partners. Vulcan...
Godrej Properties looking for PE partner - report
Godrej Properties is reportedly looking to exit up to 49% of a commercial realty project in Mumbai to a private equity investor by March as part of a capital-raising initiative.
Blackstone-backed Gokaldas closes in on export contracts
Indian apparel manufacturer Gokaldas Exports, a portfolio company of The Blackstone Group, is expected to land supply contracts from Wal-Mart and nine niche European fashion houses. The move is seen as part of a wider trend under which Western buyers...
Quadrant’s Summerset raises $99m through IPO
Quadrant Private Equity-owned Summerset Group, New Zealand’s third-largest retirement village operator, has raised NZ$123.6 million ($99.5 million) in the largest IPO seen in the country in two years. The company sold 88.3 million shares at NZ$1.40...
Lone Star sells distressed Japanese golf course asset PGM
Lone Star will divest its 64% stake in distressed Japanese golf course operator PGM Holdings to pachinko pinball machine maker Heiwa Corp. for JPY39.5 billion ($521 million).
Anchorage exits NZ Burger King to Blackstone
It's a good time to be targeting turnarounds in Australasia. Private equity firms, hedge funds and investment banks are pursuing a host of opportunities in the consumer segment where companies have been hit hard by the seize-up in spending that followed...
Affinity buys Australian meats producer
Affinity Equity Partners has ramped up its consumer portfolio in Australia through a 70% stake acquisition in top deli meats producer Primo Smallgoods, for a price that values the company at A$740 million ($758 million).
Asian infrastructure: Building blocks
There is no denying the potential for infrastructure investment in Asia. Although the policies and structures governing private equity involvement are improving, it remains difficult terrain.
Skylark exit helps consign buyout boom to history
With Skylark sold and Yayoi likely to follow it, Japan’s megadeals of 2006-2008 are finally being dismantled and the – relatively meager – profits returned to investors
Saab ends investment agreement with Chinese firms
Swedish Automobile has terminated an agreement to sell a majority stake in Saab to two Chinese companies, leaving the carmaker reliant on a $70 million commitment from US private equity firm North Street Capital to cover its immediate expenses.
Lone Star may be told to sell down KEB stake next month - report
South Korean regulators may order Lone Star to sell down its 51% stake in Korea Exchange Bank (KEB) to less than 10% next month. The move comes after the US private equity fund was found guilty of manipulating KEB’s stock price ahead of purchasing the...
KPCB leads Series B round for China’s Moment Systems
Kleiner Perkins Caufield & Byers (KPCB) has led a $20 million Series B round of financing for Chinese third-party digital marketing measurement company Moment Systems. China Broadband Capital, Redpoint Ventures and WPP Digital also participated.
Carlyle, General Atlantic discuss $200m investment in Flipkart
The Carlyle Group and General Atlantic are in talks over a $150-200 million joint investment that would see them take a minority stake in Indian online retailer Flipkart.
MBK's CNS exit may be stalled - report
MBK Partners’ exit from Taiwanese media group China Network Systems (CNS) may again face delays, as regulators have called into question Want Want China Holdings’ intentions for the asset.
PE firms lose out in bid for Samsung’s procurement arm
Online shopping mall operator Interpark has been named the preferred bidder for Samsung Group’s procurement arm iMarketKorea, beating private equity bidders including KKR and MBK Partners. The Interpark was previously said to be leading a consortium...
CIC joins Blackstone in RBS commercial real estate deal
China Investment Corp. (CIC) has agreed to take a stake in Royal Bank of Scotland’s $1.4 billion commercial real estate portfolio alongside The Blackstone Group. They will each take a 12.5% stake in the portfolio, worth a combined $100 million, with...
Lilliput seeks out-of-court settlement with Bain, TPG
Lilliput Kidswear is seeking an out-of-court settlement with investors Bain Capital and TPG Capital, having taken legal action earlier this month to prevent the private equity firms from exiting the company in response to a corporate governance scandal.
Advantage, Bain, Olympus in second-round bidding for Yayoi
Advantage Partners, Bain Capital and Olympus Capital have reportedly advanced into the second round of bidding for MBK Partners-owned Japanese accounting software developer Yayoi, which is expected to be one of the biggest sales in the market this year.
Bain acquires Japan's Skylark for $2.1b in equity
Bain Capital has officially acquired 100% of Japanese restaurant chain Skylark from Nomura Principal Finance for an equity value of JPY160 billion ($2.1 billion). It is the largest buyout in Japan since the onset of the global financial crisis.