Secondaries
Temasek unit targets $500m PE fund-backed bond issue
Retail investors in Singapore will be able to get exposure to the Temasek Holdings private equity portfolio through a $500 million bond issuance backed by 36 funds, including vehicles managed by The Blackstone Group, KKR, Silver Lake Partners, and TPG...
GIP to buy IDFC's India infrastructure business
Global Infrastructure Partners (GIP) has agreed to buy the infrastructure business of IDFC Alternatives, the alternative asset investment arm of India’s IDFC Group.
Deal focus: Opportunities at the end
TR Capital takes secondary stakes in Indian eyewear chain Lenskart and microfinance specialist Arohan Financial Services
TR Capital completes two India direct secondary deals
TR Capital has completed secondary direct investments in two India-based businesses, microfinance specialist Arohan Financial Services and eyewear chain Lenskart Solutions.
Secondaries: Holding patterns
Advisory firms focused on private equity secondaries are confident that Asia will fulfill its potential as an expansion market for their services. They will not be able to effectively seize the opportunity remotely
Secondary buyouts: Second time lucky?
PE secondary buyouts are becoming more accepted in Asia as GPs increasingly look to other fund managers for exit opportunities
AlpInvest leads $450m stapled secondary for Southern Capital
A consortium led by AlpInvest Partners has made a secondary investment in Southern Capital Group’s second fund that includes a stapled commitment to the firm’s fourth Southeast Asia-focused vehicle.
Lazard appoints head of Asia secondaries practice
Dominik Woessner, formerly head of Greenhill Cogent’s secondary advisory business in Asia, has joined Lazard to lead the origination and execution of secondaries transactions in the region.
Five trends for 2018
AVCJ looks at how its 2017 predictions turned out and identifies some key themes for the year ahead
Q&A: HQ Capital's Georg Wunderlin & David Pierce
Georg Wunderlin, CEO of HQ Capital, and David Pierce (pictured), the firm’s Asia head, discuss investor appetite for private equity, the popularity of separately managed accounts, and consolidation within the industry
Secondaries: Back in the game
After several years of uncertainty, secondaries investments have returned to growth again, particularly in Asia. Strong pricing and healthy deal flow on the primary side could help maintain this upward trajectory
NewQuest joins $31m round for China video cloud player
Asia-dedicated secondaries investor NewQuest Capital Partners has participated in a RMB208 million ($31 million) Series C round for Bokecc.com, a China-based company that offers video cloud computing solutions.
Standard Chartered Private Equity revives spin-out plan
Standard Chartered Private Equity (SCPE) has relaunched an effort – which failed to get traction with the bank last year – to spin-out its team and the remaining $1 billion in PE assets on its balance sheet into an independent entity.
Lexington leads $1.2b Warburg Pincus Asia secondary deal
Lexington Partners is leading the $1.2 billion secondary deal that will see Warburg Pincus sell a portion of every Asian investment in its 11th global fund in order to return capital to LPs. Goldman Sachs’ asset management arm is also participating...
GP-led secondaries: Stigmatized no more
Traditionally perceived as a recourse for private equity firms in trouble, GP-led secondary transactions are starting to be used by brand-name managers as a liquidity solution for LPs
Advantage exits China’s ESG Holdings
Advantage Partners has completed a full exit of Hong Kong-based and China-focused facility management services company ESG Holdings. It was the Japan-focused firm's first China buyout.
Deutsche's Jason Sambanju launches secondaries firm
Jason Sambanju, the former head of Asian private equity secondaries at Deutsche Bank, has launched his own investment firm – Foundation Private Equity – which will pursue secondary opportunities in the region.
VC secondaries: Trading unicorns
Secondary investors are seeing more deal flow in the venture capital space as GPs seek to generate returns on assets that are taking longer than expected to go IPO. Valuations remain a sticking point
Secondary investors pay $600m for LP stakes in IDG VC funds
IDG Capital has completed a secondary deal worth nearly $600 million, selling down LP positions in at least seven funds managed by affiliates in India and Vietnam as well as by the GP itself in China. These holdings were acquired as part of the purchase...
TPG buys majority stake in Vietnam school, Mekong exits
TPG Capital has agreed to acquire a controlling position in Vietnam Australia International School (VAS), facilitating an exit for existing backers Mekong Capital and Denmark-based MAJ Invest.
Secondaries: A cautionary tale
Cracks have appeared in the secondary transactions through which Standard Chartered Private Equity had sought to secure its future, underlining the challenges for investors of bank-led deals
Everstone, Mayfield, others part exit India's SLCM
Everstone Capital, Mayfield Advisors, Nexus Venture Partners and ICICI Bank have part exited their stakes in Indian agricultural logistics and financing firm Sohan Lal Commodity Management (SLCM).
Peepul Capital invests in Unibic India
Peepul Capital has cemented its control of snack food maker Unibic India by acquiring the entire stake of minority investor Lighthouse Funds.
Secondary volumes decline in 2016 – survey
Global secondary market volume reached $42.15 billion last year, failing to eclipse the consecutive record annual totals of $49.3 billion and $49.6 billion in 2014 and 2015, according to Setter Capital.