Secondaries

Baring Asia completes Korea parcel delivery buyout

Baring Private Equity Asia has announced the acquisition of South Korean courier firm Logen. Details of the deal, said to be worth around KRW160 billion ($140 million), emerged last month prior to closing. The seller is Mirae Asset Private Equity.

Secondaries valuations remain challenging – KIC

Korea Investment Corporation (KIC) will increase its allocation to alternatives to as much as 25%, up from 15%, but CIO Don Lee said there were no immediate plans to add managers in the secondary space, citing valuation challenges in the market.

Adams Street hits $1b hard cap on global secondary fund

Adams Street Partners has closed its Global Secondary Fund 5 at $1 billion, surpassing the $750 million target to raise the highest amount so far in its global secondary series of funds. It is the fourth global secondaries vehicle to reach a final close...

JAIC spin-out seeks VC secondaries

Private equity secondary exits have seen a resurgence in Japan in the last two years, with more than $5.3 billion transacted. In only one year previously - 2007 - has deal value surpassed $1.3 billion. For two groups of industry participants, the prospects...

KKR kicks tires, buys Alliance

India is expected to see an increasing number of secondary buyouts in the next couple of years as GPs look for ways to monetize existing portfolios in the face of a difficult public market environment. While KKR's acquisition of Warburg Pincus' majority...

KKR pays $500m for Warburg's Alliance Tire Group stake

KKR has agreed to buy Warburg Pincus’ controlling stake in Indian tire make Alliance Tire Group. Terms were not disclosed, but sources familiar with the transaction told AVCJ that KKR will pay $450-500 million for an approximately 75% stake as well...

Polaris acquires Japanese salon operator

Polaris Capital has acquired a majority stake in Japanese salon and sports club operator Socie World for a reported JPY3 billion ($32 million). The capital came from the private equity firm’s third vehicle, which has so far raised JPY36 billion, just...

Mekong trims Mobile World stake, looks to IPO

Is Mobile World the next Masan Consumer Corp? The as yet unnamed private equity firm that picked up part of Mekong Capital’s stake in the Vietnamese mobile phone retailer is certainly hoping so.

Australia webinar: Consistency matters

Australia's private equity industry has seen robust deal flow in recent years and LPs remain committed to the asset class, albeit to a fewer number of GPs. Industry participants expect this to continue

AGCA, secondary investors buy CS legacy assets

Three years after Credit Suisse's Asia private equity team spun out, the assets they were tasked with managing have followed suit. Supported by HarbourVest Partners and Axiom Asia, Asia Growth Capital Advisors (AGCA) has acquired a portfolio of eight...

Everstone acquires stake in India’s Transpole

Everstone Capital has invested INR2.2 billion ($41 million) to acquire a significant minority stake in Transpole Logistics, one of the leading freight forwarders in India. The company will use to proceeds to expand overseas operations in China, Malaysia,...

Actis exits Xiabu Xiabu in secondary sale

In the past 12 months we have seen a 10-fold increase in secondary sales in China by value, but it is unwise to read too much into the spike: 80% of the $2.9 billion total came from Goldman Sachs selling its minority interest in Industrial and Commercial...

Partners Group raises $2.6b for global secondaries fund

Partners Group has closed its latest secondary fund at the hard cap of EUR2 billion ($2.6 billion) and expects to deploy a higher proportion of the corpus in Asia than for previous vehicles as the region’s private equity market matures. The vehicle...