Investments
Carlyle acquires healthcare staffing firm NIC for $149m
Carlyle has acquired Tokyo-based medical staffing services firm NIC Corp. for JPY11.5 billion ($149 million). The investment was made from its JPY165.6 billion yen-denominated Carlyle Japan Partners II fund, which targets mid-sized companies. It is the...
Mumbai metals trader seeks PE investment
Ushdev International, a Mumbai-based metals trader and wind farm operator, is seeking to raise $20-40 million from private equity investors. Managing Director Prateek Gupta said the company is in talks with a couple of PE firms about the possibility of...
Softbank invests $200m in mobile ad network InMobi
Softbank Corp. has invested $200 million in InMobi, which claims to be the world’s largest independent mobile advertising network. The Japanese telecom firm will invest in two tranches of $100 million, one due this month and the other due in April 2012.
Archer, Ironbridge consider iNova Pharmaceuticals sale
Archer Capital and Ironbridge are looking to sell iNova Pharmaceuticals for A$700-850 million ($714-878 million). The private equity firms have appointed Greenhill Caliburn to advise on the sale process and would like to have a deal in place by the end...
PE bid for Yahoo complicated by Asia business interests
Yahoo’s 40% stake in Chinese B2B platform Alibaba Group and its 35% holding in Yahoo Japan have emerged as key elements of any potential private equity bid for the US internet company.
Tokio Marine puts Japanese drug maker up for sale
Japanese buyout firm Tokio Marine Capital is reportedly set to exit its majority stake in Showa Yakuhin Kako, a domestic drug making company, and has hired Citigroup to advise on the sale.
Regulators to address Hana's KEB offer after Lone Star court ruling
South Korean regulators will review whether Hana Financial may purchase Korea Exchange Bank (KEB) from Lone Star following a court ruling addressing allegations that the embattled US buyout manipulated KEB’s stock price in 2003 to gain a higher valuation...
PAG backing takes Funtalk China private
PAG Asia Capital's $250 million commitment to Funtalk China Holdings cements the fourth privatization of a US-listed Chinese firm in the space of five weeks. In total, six management teams – often backed by private equity – have closed buyout transactions...
Group-buying sites remain a VC risk
Everyone loves a bargain, but when it comes to investing in China’s group-buying space, is the joke on the venture capitalists?
Chinese outbound M&A: Unfamiliar territory
Ever more Chinese firms are engaging in overseas M&A, with varying degrees of success. Prospective sellers must be aware of the risks as well as the opportunities
J.P. Morgan eyes $400m investment in SKIL Infrastructure
A J.P. Morgan Chase-backed fund will pay approximately $400 million for a nearly 20% stake in Mumbai-based SKIL Infrastructure, an infrastructure project developer with assets including ship maker Pipavav Defence – formerly Pipavav Shipyard - and Offshore...
Buyout firms structure Australia investments through Singapore
Singapore has emerged as the preferred conduit for private equity firms looking to enter and exit investments in Australia from offshore. CHAMP Private Equity and TPG are understood to be among those to have set up Singapore structures in the wake of...
South African insurer to buy 26% stake in Shriram Capital
Some private equity investors in Shriram Capital (SCL) will be granted an exit opportunity as a result of South African insurer Sanlam’s acquisition of a 26% stake in the company. The deal is estimated to be worth INR20 billion ($430 million), with...
SAIF Partners India backs Manpasand Beverages
SAIF Partners India has invested $10 million in Manpasand Beverages, a juice maker and distributor based in Vadodara. The deal is the latest in a string of private equity transactions in India’s food and agriculture space, The Economic Times reported.
ANZ no longer in talks to buy Cerberus’ Aozora stake
Australia and New Zealand Banking Group (ANZ) has ended discussions over a potential investment in Aozora Bank. Talks with Cerberus Capital concerning its 50% stake in the Japanese lender floundered at an early stage because the two sides could not agree...
PEP hires banks to advise on Griffin’s Foods sale – report
Pacific Equity Partners (PEP) has appointed investment banks to advise on the potential sale of Griffin’s Foods, a New Zealand-based snack food business. It is thought the company could be sold for up to $750 million, including debt, Reuters reported,...
Japanese outbound M&A: Strategic imperative
Japanese food and beverage companies are on the acquisition trail as they seek to ease dependence on local markets. It’s a tough time for PE buyers, a great time for PE sellers
Permira hits jackpot with Galaxy
Permira's casino gamble seems to have paid off in Macau. The UK-based private equity firm divested approximately 6.5% of its stake in Macau casino and entertainment operator Galaxy Entertainment Group for HK$4.8 billion ($614 million), selling 270 million...
Whitehaven’s PE backers make partial exit
Three months after Australian miner Whitehaven Coal called off its auction process, the company’s two largest shareholders cut back their interest. First Reserve Corp. and AMCI International on August 31 sold 65 million shares for A$390 million ($416...
PE firms struggle to secure Woori stake
With the auction of the government’s stake in Woori Financial Group stalled again, questions are being asked about the compatibility of banks and private equity in Korea
WestBridge looks to exit portfolio companies of yesteryear
WestBridge Capital – which was re-launched by its original founders in February - is looking to exit portfolio companies in which it invested prior to merging with Sequoia. According to India’s Business Standard, this includes stakes in Indecomm Global,...
CVC resumes efforts to sell Japanese shoe repair chain
CVC Asia Pacific has hired Mizuho Securities to advise on the sale of shoe repair chain Minit Asia Pacific and invitations have been sent for first-round bids, according to Reuters.
PAG commits $250m to NASDAQ-listed Funtalk China
PAG Asia Capital has agreed to invest $250 million in Funtalk China Holdings, a NASDAQ-listed company that controls Chinese subsidiaries involved in the distribution and retail of mobile phone handsets, accessories and content.
Anacacia Capital fund named world’s top performer
A vehicle launched by Australia’s Anacacia Capital has been named the top performing fund globally by Pensions and Investments magazine. Anacacia Partnership I, which closed in 2007, was judged to be the outstanding performer out of funds raised between...