Investments
KKR makes second investment into Avantha Power & Infrastructure
KKR has strengthened its ties to India’s Avantha Power & Infrastructure (APIL), co-investing an additional $120 million into the company less than a year after committing $50 million.
Update: Revived WestBridge reaches $500m fund target
WestBridge Capital Partners, the private equity fund relaunched by Sequoia Capital India’s founders, has reached the $500 million target for its new vehicle, the WestBridge Crossover Fund, within six months. According to the firm, the fund has been fully...
PEP, Unitas tipped to sell Independent Liquor to Asahi
Asahi Group Holdings has emerged as the leading candidate to purchase New Zealand drinks maker Independent Liquor, which is currently owned by Pacific Equity Partners and Unitas Capital. The deal could be worth up to NZ$1.4 billion ($1.2 billion), Dow...
Terra Firma to open Beijing office
European private equity firm Terra Firma has received the regulatory green light to open a representative office in Beijing, marking its foray into Asia.
Hony invests $100m in Chinese glass maker
Hony Capital has agreed to pay $100 million for a 60% stake in China Yaohua Glass Group, as part of its ongoing role in consolidating the glass-making industry.
Bondholders in CHAMP-backed Blue Star offered new deal
Blue Star bondholders have been offered the chance to participate in the printing firm’s restructuring on the same terms as major shareholder CHAMP Private Equity, The National Business Review reported. Should the latest proposal fail to win approval,...
Carlyle completes third CPIC sell-down
The Carlyle Group remains on courpse for one of its biggest cash exits globally after making a third sell-down in China Pacific Insurance (CPIC) in the space of seven months. The private equity firm is believed to have raised around $990 million in its...
Asia distressed assets: Off the radar
A decade ago, in the aftermath of the Asian financial crisis, the region’s distressed assets were all the rage as investors moved in for opportunities to turnaround businesses that were underfinanced or failing. With emerging economies now flourishing,...
INCJ: Collaborator or competitor?
The Innovation Network Corporation of Japan (INCJ) has always divided opinion. The government-run entity, which operates with the support of local corporations, is intended to support new growth businesses.
Emerging markets, fewer buyouts
Asia is top of many investors'wish lists, yet it is interesting how many Western GPs and LPs refer to the region as an emerging market. To those of us living in Asia – and many others on the outside – the term seems hopelessly outdated.
Carlyle to invest up to $194m in Haier Electronics Group
The Carlyle Group will invest up to $194 million in Haier Electronics Group (HEG), a Chinese white goods manufacturer, potentially taking a 9% stake in the company.
Blackstone approved for Valad takeover
Shareholders in debt-burdened Australian real estate firm Valad Property Group have overwhelmingly approved Blackstone affiliates for an A$806 million ($883 million) takeover of the company.
Ex-AIA boss seeks PE backing to buy Aviva's non-core businesses
Former AIA CEO Mark Wilson is trying to raise private equity funding to bid for Aviva’s non-core emerging markets business, The Financial Times, reported, citing people familiar with the situation. The UK firm is considering a sell-off of its smaller...
CLSA makes $15m investment in Indonesian tea company
CLSA Capital Partners (CLSACP) has invested $15 million in PT Sari Wangi AEA, which claims to be the largest privately held tea company in Indonesia.
Phoenix Capital to sponsor failed Japanese department store
Phoenix Capital, a private equity firm specializing in turnaround investments, has brokered a sponsorship agreement with bankrupt Japanese department store Nakasan Co., which claims debt of JPY11.4 billion ($1.43 million).
KKR to buy convertible bonds in Chinese water treatment firm
KKR has agreed to invest $113.8 million in convertible bonds issued by United Envirotech (UEL), a Chinese water treatment and recycling services provider. The deal could see the US private equity firm take a stake of around 38.4% in the firm.
Avendus to launch fund targeting listed companies
Avendus PE Investment Advisors plans to raise a fund worth up to $200 million to target mid-size listed companies in India, Reuters reported. This would be the third fund launched by the firm, a unit of financial services player Avendus Capital.
Lombard exits stake in Thai auto parts manufacturer
Lombard Investments has exited its stake in Thailand-based auto parts manufacturer Somboon Advance Technology (SAT), earning a 3.5x return on its investment.
Cargotec set to buy Carlyle's stake in China Crane
Finland’s Cargotec will acquire The Carlyle Group’s 49% stake in China Crane Investment Holdings in connection with a joint venture it has agreed with Jiangsu Rainbow Heavy Industries (RHI).
Carlyle in third China Pacific sell-down since December
The Carlyle Group is selling nearly one-third of its stake in China Pacific Insurance for up to $1 billion, according to a term sheet seen by Dow Jones Newswires. The transaction would be the latest in a series of sell-downs that have put the private...
J.C Flowers considers joint bid with TStone for Woori
J.C. Flowers is in talks with TStone, the South Korean private equity firm, to join the bid for a 57% stake in Woori Financial Holdings that is being divested by the Korean government, Reuters reported.
India's L&T plans infrastructure-focused private equity fund
Larsen and Toubro (L&T), an Indian engineering and construction company, is preparing to launch a private equity fund which will invest infrastructure projects, The Economic Times reported.
Hony makes first foray into Japan
Hony Capital secured two significant firsts with its purchase of a 20% stake in Tokyo-listed hotel chain operator and real estate business Tokai Kanko for JPY1.4 billion ($17.8 million).
PE-backed IPOs reach four-year high in second quarter
Chinese and Indian firms contributed $2.7 billion of the $17.2 billion raised through IPOs by private equity-backed companies worldwide in the second quarter of 2011, according to Ernst & Young. The proceeds, which came from 45 offerings, represent the...