GPs like targeting banks during downturns, investing in stronger players at discount valuations and backing them to come out the other side with increased market share. Will it be more of the same with COVID-19?
PAG Asia Capital is in exclusive negotiations over a A$150 million ($109 million) investment in Regional Express Holdings (Rex), an Australian airline that emerged following the collapse of Ansett Airlines.
Seeing Korean banks trading at discounted valuations and believing in the long-term health of the industry, some private equity investors have taken the opportunity to buy in the public markets
Evergrande New Energy Vehicle (NEV), a subsidiary of Chinese real estate developer Evergrande Group, has raised HK$4 billion ($516 million) from investors including Tencent Holdings, Sequoia Capital China, Yunfeng Capital, and Didi Chuxing.
DCP Capital Partners has acquired a 9% stake in Tonghua Dongbao Pharmaceutical, a Chinese pharmaceutical company specializing in diabetes treatment, for RMB1.94 billion ($283.7 million).
I-Mab Biopharma, a private equity-backed Chinese drug developer that listed in the US as recently as January, has raised $418 million through a private placement.
The Carlyle Group has paid about $260 million for a 5% stake in Shenzhen-listed Salubris Pharmaceutical.
A consortium of investors led by Baring Private Equity Asia will invest INR15.6 billion ($209 million) for a 19.55% stake in listed Indian lender RBL Bank.
India-focused WestBridge Capital has invested INR5.5 billion ($75 million) in budget airline operator IndiGo.
PAI Capital, a Hong Kong and London-based asset manager that primarily caters to high net worth individuals (HNWIs), has paid RMB1.45 billion ($212 million) for a 24.22% stake in Vtron Group, a Shenzhen-listed video display systems manufacturer.
KKR - working alongside Temasek Holdings - is using Vinhomes as a means to get exposure to Vietnam's booming property market. Mergermarket and AVCJ offer some additional industry context
Hillhouse Capital has invested RMB10.6 billion ($1.5 billion) in Chinese electric vehicle (EV) battery manufacturer Contemporary Amperex Technology (CATL). It is part of a RMB19.7 billion capital raise by the Shenzhen-listed company.
General Atlantic has invested $100 million in NASDAQ-listed Chinese cancer drug developer Hutchison China MediTech - also known as Chi-Med - a subsidiary of Hong Kong conglomerate CK Hutchison Holdings.
Hillhouse Capital has taken a 3.9% interest in US-listed Chinese data center developer GDS Holdings for $400 million.
The Blackstone Group has invested $150 million in 21Vianet, a US-listed Chinese data center developer backed by Singapore’s Temasek Holdings.
The Carlyle Group has invested KRW240 billion ($198 million) in KB Financial Group and agreed to work with the Korean company on investment opportunities and structuring and financing its deals in the country.
A consortium led by KKR has invested VND15.1 trillion ($650 million) in Vinhomes, Vietnam’s leading integrated real estate developer, which went public in 2018.
CVC Capital Partners is looking to acquire majority control of Indian cancer care center operator HealthCare Global Enterprises (HCG) in a deal that could be worth up to IN10.4 billion ($$138.9 million).
India Grid Trust (IndiGrid), an infrastructure investment trust backed by KKR and GIC Private, has acquired a power distribution company in north India for INR3.1 billion ($134 million).
KKR has offered to acquire up to 9% of First Gen Corporation, a power plant operator in the Philippines, for PHP7.29 billion ($144 million).
CVC Capital Partners plans to acquire 36.4% of HealthCare Global Enterprises (HCG) in a deal that ultimately could see it assume majority ownership of the Indian cancer care center operator.
Warburg Pincus has invested INR2 billion( $26.7 million) in IDFC First Bank as part of an INR20 billion capital raise by the Indian lender.
Warburg Pincus has invested INR5.4 billion ($70.2 million) in Apollo Tyres to follow up on an earlier investment in the company. This continues a recent trend of PE players increasing their stakes in Indian public companies.
Warburg Pincus has agreed to acquire a 17.11% stake in Chinese car rental business China Auto Rental (CAR) from Ucar, a chauffeured car service provider. It follows a sharp drop in CAR’s share price following a scandal at Luckin Coffee, which is backed...