Investments
Temasek forms JV with South Africa's Oppenheimer family
Singapore’s sovereign wealth fund Temasek Holdings will form a joint venture private equity fund with South Africa’s E. Oppenheimer & Son International. James Teeger, group managing director at E. Oppenheimer, told Reuters that each party would make an...
Mandolin Fund ups stake in Sino-Forest to 18%
Singapore-based Mandolin Fund now owns 18% of Sino-Forest, having increased its stake in the scandal-hit forestry company for the third time in four weeks.
Carlyle-backed New Century Hotel Group plans IPO
China’s New Century Hotel Group, one of The Carlyle Group’s portfolio companies, plans a $400 million IPO in Hong Kong in September, The Wall Street Journal reported, citing people familiar with the situation. Deutsche Bank and Morgan Stanley have been...
Asahi to buy Independent Liquor for $1.3b – report
Asahi Group Holdings is set to reach an agreement this week on the JPY100 billion ($1.3 billion) purchase of Independent Liquor, which is owned by Pacific Equity Partners (PEP) and Unitas Capital, The Nikkei reported.
MediAngels seeks $10m private equity investment
MediAngels, an India-based online medical consultation platform, is in talks with private equity funds over a $10 million investment, The Times of India reported. “We are in deep talks with four of the biggest US-based PE funds," said Dr. Debraj Shome,...
India Innovation Fund makes second investment
India Innovation Fund (IIF) has closed its second investment, committing INR100 million to Bangalore-based digital media technology start-up Sure-Waves MediaTech. Accel Partners, another early stage investor, partnered IIF in the deal, The Economic Times...
Unison Capital, CJ Cheiljedang food additives bid fails
Unison Capital and CJ Cheiljedang Corp. have failed in their joint bid for Hayashibara, a Japanese food additives manufacturer. CJ Cheiljedang said in a statement to the Korea Stock Exchange that it had not been chosen as a preferred bidder.
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.