Investments
Prax to sell out of China property venture
Prax Capital, a China-focused private equity firm, will sell its 40% holding in its JV Success Hill Investments Ltd, to China Housing & Land Development, Inc., a NASDAQ-listed property developer for RMB576 million ($84.5 million).
TPG clear to exit China bank to Ping An
TPG Capital's groundbreaking early investment in China’s banking sector appears close to an exit in its sale of its c.16.76% stake in Shenzhen Development Bank to local insurance giant Ping An Insurance Group.
Actis JV with Tata targets up to $2b
Another indicator of the potential for infrastructure investment in India – and the importance of a local corporate partner in the Subcontinent – surfaced recently with Actis Capital’s announcement of a JV with Indian conglomerate Tata Group to invest...
And the second shall be first
Secondary deals, forecast for months now to see significant new volume across Asia Pacific, are fulfilling those predictions, as GPs pass investees from hand to hand.
Transurban rejects higher CPPIB/OTPP bid
Australian toll road major Transurban Group has rejected a higher takeover bid of A$7.2 billion ($6.4 billion) from the Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan (OTPP), along with local fund manager CP2 Ltd....
GOME reappoints Bain directors after eviction attempt
The board of Bain Capital investee GOME Electrical Appliances reappointed Bain representative non-executive directors Jonathan Zhu, Ian Reynolds and Wang Li Hong after two significant affiliated shareholders voted against their reappointment at the company's...
Carlyle, ChrysCapital, SCPEL suitors for Godrej Consumer
The Carlyle Group, ChrysCapital Management, and Standard Chartered Private Equity Ltd. (SCPEL) are among the private equity firms bidding for a $130-140 million investment opportunity into India's Godrej Consumer Products, according to Indian reports....
Advantage restructures US investee GST Autoleather
Advantage Partners, a Tokyo-based private equity firm, has reportedly restructured the balance sheet of its investee company GST Autoleather Inc. in a series of moves since September 2009, making three voluntary debt repayments totaling $39.2 million....
Triple A Partners allies with Japan's OGI Capital
Hong Kong-based investment firm Triple A Partners and OGI Capital Partners (OGICP), a Japanese discretionary investment manager, have announced a partnership to increase services to Japanese institutional investors who want to strengthen their global...
Temasek, Hopu invest Chesapeake Energy
Singapore SWF Temasek Holdings and multi-strategy regional firm Hopu Investment Management are making a joint $600 million investment in Chesapeake Energy Corp., a major US developer of natural gas and oil resources.
Sequoia invests Axtria
Sequoia Capital India has led a $2.5 million Series A funding round into Axtria Inc., a business analytics provider founded by serial entrepreneurs Jaswinder S Chadha and Navdeep S Chadha.
Catalyst picks up Actrol Parts
Australia's Catalyst Investment Managers has 100% acquired Actrol Parts, a wholesaler and distributor of refrigeration and air-conditioning systems and components, from parent GSA Industries, for an undisclosed amount.
Nippon Mirai exits Daiichi Seimitsu Sangyo
Nippon Mirai Capital, the turnaround-focused independent buyout fund based in Tokyo, has agreed to sell its 100% stake in Daiichi Seimitsu Sangyo Co., Ltd., a maker of plastic molds, to Minebea, a listed manufacturer of high-precision components, for...
IFC contemplates China pigs
The International Finance Corporation is assessing a $10 million investment into a $51.3 million project launched by Muyuan Foodstuff Co. Ltd. to build four pig farms in Henan Province, with a capacity of 500,000 animals.
Quam Suzhou RMB fund makes first deal
The Suzhou QUAM-SND Venture Capital Enterprise, an RMB VC fund formed by a unit of Hong Kong-listed financial services group Quam Ltd., has announced its first investment, an RMB50 million ($7.3 million) growth capital commitment to PET bottle manufacturer...
Leopard gets seafood takeaway with Nautsico
Asian frontier investor Leopard Capital's Leopard Cambodia Fund has taken a 31.48% stake in Cambodia’s largest seafood processing plant, Nautisco Seafood Manufacturing Ltd., for an undisclosed sum.
KKR solidifies India cement with Dalmia
Kohlberg Kravis Roberts & Co. has agreed an investment of around INR750 crore ($164 million) into Dalmia Cement (Bharat), for a c.20% stake in unlisted subsidiary Avnija, which will house the group's cement manufacturing capacity to create India's largest...
CVC fastens Acument Asian assets deal
CVC Capital Partners has won an auction against Kohlberg Kravis Roberts & Co. and Unitas Capital for the Asian assets of fastener manufacturer Acument Global Technologies, estimated at around $300 million.
CPP IB OTPP Transurban bid may fail on share sale
The Canada Pension Plan Investment Board (CPP IB) and Ontario Teachers' Pension Plan (OTPP)’s joint A$6.8 billion ($6.2 billion) bid for Australian toll roads operator Transurban Group may fail due to the target's decision to sell A$542 million ($490.5...
Bain draws secondary buyout interest for Outback in Asia
Bain Capital, seeking buyers for the Asian assets of investee Outback Steakhouse, is seeing strong private equity interest from firms including Barings Private Equity Asia, Permira, and Unitas Capital, according to reports.
Hepalink Shenzhen debut confirms Goldman result
The debut of Shenzhen Hepalink Pharmaceutical Co, Ltd. on the Shenzhen Stock Exchange on May 6th confirmed the expected result for investor Goldman Sachs, which reaped a 235x result on its $4.9 million 2007 investment.
Mount Kellett appoints MacNamara for real estate
Mount Kellett Capital Management, the multi-strategy firm formed by former Goldman Sachs special situations star Mark McGoldrick and named after a mountain in Hong Kong, has engaged James MacNamara as an MD in London to invest in European real estate....
Actis announces KS Distribution deal
Actis has partnered with SGX-listed energy services company KS Energy in a $230 million deal to create Asia's largest oil, gas and marine products distribution business, KS Distribution.
Japan's INCJ makes second VC deal in chip firm
The Innovation Network Corporation of Japan (INCJ), the state-run fund backed by local corporate capital, will make its second VC investment, in Genusion Inc., a local fabless flash memory developer.