Secondaries
Partners Group backs continuation vehicle for Korean restaurant brand
MBK Partners has signed up Partners Group as the anchor investor in an approximately $500 million single-asset continuation fund for its majority stake in Korean fried chicken franchisor BHC.
GPs see more paths to liquidity in Southeast Asia - AVCJ Forum
SPAC deals and GP-led secondary transactions are bringing more liquidity options to Southeast Asia, a geography where private equity investors have often struggled to achieve exits, industry participants told the AVCJ Singapore Forum.
Elliott backs Olympus Capital Asia continuation fund
Elliott Management is supporting a $450 million restructuring of Olympus Capital Asia’s third fund, which involves taking out a profit participation loan held by Canada Pension Plan Investment Board (CPPIB) as well as buying standard positions from other...
Lazard makes senior private capital advisory hire in Asia
Lazard has recruited Patrick No, formerly head of Asia financial sponsors coverage at Credit Suisse, as a managing director in its private capital advisory group.
Creador, NewQuest, TR invest Yum Brands India franchisee
Creador, NewQuest Capital Partners, and TR Capital have co-led an INR11.5 billion ($155 million) investment in Sapphire Foods India, a franchisee operator of US fast food giant Yum Brands.
Coller spins out credit fund interests from Ping An subsidiary
A Coller Capital-led consortium has acquired interests in four global credit funds – worth a combined $680 million – from China Ping An Insurance’s overseas investment platform.
Navis raises $900m for Fund VIII, closes Fund VI continuation
Navis Capital Partners has closed its eighth regional fund at $900 million, while also securing $450 million for a continuation vehicle that features five companies from its sixth fund.
NewQuest buys secondary position in India hospital chain
Direct secondaries specialist NewQuest Capital Partners has acquired a minority stake in Cloudnine, an India-based hospital chain, by committing primary capital and taking out several existing investors.
India's Ola receives $500m pre-IPO round
Temasek Holdings and Warburg Pincus have joined a $500 million in Indian ride-hailing platform Ola ahead of an IPO.
Q&A: Foundation Private Equity's Jason Sambanju
Having made his name in Asia secondaries at Paul Capital, Jason Sambanju struck out on his own in 2017 with Foundation Private Equity. He explains why there is room for a local GP dedicated to LP-style deals
NewQuest buys Cosmos-Maya from KKR's Emerald Media
Direct secondaries specialist NewQuest Capital has acquired Indian animation studio Cosmos-Maya from Emerald Media, an Asian media platform backed by KKR.
Deal focus: TR Capital doubles down on China tech
Secondaries specialist TR Capital has established a base in Shenzhen with a view to sourcing more deals in China’s red-hot technology sector. Online used car trading platform Bochewang is the latest example
NewQuest exits BPO business to US GP
NewQuest Capital Partners is exiting Integreon, a business process outsourcing (BPO) provider with a significant Asia footprint to US private equity firm EagleTree Capital.
Asia secondaries: Continuation conundrum
The rapid ascent of single-asset continuation vehicles in the US and Europe might be emulated in Asia, but investors are approaching the market with measured optimism
TR, Shenzhen Capital back renminbi continuation fund
TR Capital and Shenzhen Capital Group have backed the spin-out of six healthcare assets held by China focused GP Huagai Capital into a RMB800 million ($125 million) renminbi-denominated continuation fund.
Vietnam middle market: Room for maneuver
There is a perceived sweet spot in Vietnam where check sizes are too big for local GPs and too small for pan-regionals. Taking advantage means addressing structural nuances and strategic competition
Buhuo Ventures completes renminbi fund restructuring
China’s Buhuo Ventures has closed its first US dollar-denominated fund at $100 million, following a GP-led cross-currency restructuring of a renminbi vehicle.
Singapore's Azalea launches PE-backed bond offering
Temasek Holdings-owned Azalea Asset Management plans to sell S$250 million ($186 million) worth of bonds – backed by LP interests in private equity funds – to retail investors in Singapore.
India direct secondaries: Footprint freefall
A darker mood for Chinese investors in India is stirring expectations for a wave of direct secondary opportunities
Fund focus: TR raises $350m for China-heavy secondaries strategy
Having closed its fourth fund at the hard cap of $350 million, Asia secondaries specialist TR Capital expects to go deep into China fund restructurings, taking out renminbi investors onshore and offshore
Five trends for 2021
AVCJ looks at how its 2020 predictions turned out and identifies some key themes for the year ahead
LPs anticipate PE portfolio restructuring - survey
A wave of portfolio restructuring is likely as LPs turn to the secondary market to reshape their private equity exposure, source new credit facilities or dispose of assets to remedy liquidity shortfalls, and review co-investment policies, Coller Capital’s...
Fund focus: Secondaries drive Ping An unit's transition
China Ping An Insurance Overseas Holdings has aspirations to manage assets for third-party investors. Spinning out part of the global private equity portfolio may help it get there
Ping An gives third-party investors exposure to PE portfolio
The international investment and asset management arm of China’s Ping An Insurance has raised $875 million through a secondary sale of part of its private equity portfolio.