Secondaries
Partners Group acquires $648m MLC portfolio
MLC, the private wealth unit of National Australia Bank(NAB), has sold a A$750 million ($648 million) portfolio of private equity investments to Partners Group.
Partners Group acquires 12% of Venator's China RE fund
Partners Group has acquired a 12% stake in Trophy Property Development (TPD), a $1 billion China-focused property development fund managed by Venator Real Estate Capital. The financial details of the transaction were not disclosed.
Global secondaries deal flow set to break record - Cogent
Global secondary transaction volume for 2014 is on course to break $30 billion for the first time after reaching $16 billion in the six months of 2014, according to secondary market-focused investment bank Cogent Partners.
Hony buys Pizza Express from Cinven for $1.54b
Chinese PE firm Hony Capital has agreed to buy restaurant chain Pizza Express from UK-based private equity firm Cinven Partners for GBP900 million ($1.54 billion).
DeAWM hires ex-Paul Capital executive for Asia secondaries
Jason Sambanju, formerly co-head of Asia at Paul Capital Partners, has joined Deutsche Asset & Wealth Management (DeAWM) as head of Asia secondaries.
NewQuest closes Fund II, prepares for hydropower take-private
NewQuest Capital Partners has reached a final close of $316 million on its second pan-Asia fund, exceeding the $300 million target. The announcement comes as the secondaries specialist is poised to take private US-listed China Hydroelectric in a deal...
China PE in the US: From theory to practice
Chinese private equity firms’ growing interest in US acquisitions has yet to translate into meaningful deal flow. These relatively new arrivals need time to familiarize themselves with a competitive market
Mandarin Capital exits Italian chemical maker to Ardian
Mandarin Capital Partners has fully exited its stake in Italmatch Chemicals, an Italian chemical maker, to European private equity firm Ardian.
CVC to acquire Executive Centre from Headland
CVC Capital Partners has agreed to buy Hong Kong-based serviced office provider The Executive Centre (TEC) from Headland Capital Partners for an undisclosed sum.
Bain to buy majority stake in Australia drink bar franchise
Bain Capital has agreed to acquire a 70% stake in Retail Zoo, the owner of Australian health drink franchise Boost Juice Bars, from The Riverside Company.
WM Partners in debut secondary deal
When Moriyoshi Matsumoto spun out from JAIC to form WM Partners (WMP) last year it was with a view to targeting a very specific need.
Japan's WM Partners secures debut deal
Japanese secondaries investor WM Partners (WMP) has completed the debut transaction from its first fund, acquiring a 12% interest in B2B marketing platform Shanon.
Flights of fancy
Jiangyin Zhongnan Heavy industries is a Chinese steel equipment manufacturer harboring an ambition. The Shenzhen-listed company produces more than 40,000 tons per year of pipe fittings and associated paraphernalia, serving petrochemical, shipbuilding,...
Pomona raises $1.75b for global secondaries fund
Pomona Capital has reached a final close on its eighth global secondaries fund at the $1.75 billion hard cap. The vehicle, which had a target of $1.3 billion, was substantially oversubscribed.
Australia's Ironbridge drops staple from LP secondary exit deal
Ironbridge Capital has dropped its proposed stapled secondary transaction that would have allowed investors to exit or rollover their positions into a new vehicle with the option of making a commitment to a new primary fund. AVCJ understands the deal...
Stapled secondaries: Shades of gray
Secondary restructuring opportunities are on the rise in Asia, but investors are wary of giving managers fresh primary capital on top. Deal flow is hard to source, even harder to execute, and highly bespoke
Tiger Global picks up Alibaba stake for $199m
Tiger Global has agreed to acquire a minority stake in Alibaba Group from Chinese online game developer Giant Interactive Group for approximately $199.1 million. Giant originally invested $50 million in 2011 via limited partnerships managed by Yunfeng...
Portfolio Advisors closes global secondaries fund at $910m
Portfolio Advisors has closed its second dedicated global private equity secondaries fund at $910 million. The vehicle launched in 2011 and began investing in the third quarter of 2012, focusing on direct secondary fund interests.
CVC to acquire $200m stake in China education company – report
CVC Capital Partners is said to be investing around $200 million in Chinese education company EIC Group, buying shares from the founder and existing investor Actis Capital.
Carlyle invests in India's Global Health Private
The Carlyle Group has acquired a minority stake in India’s Global Health Private, owner and operator of Medanta – the Medicity, a super-specialty Medanta hospital in the National Capital Region (NCR) of Delhi. The transaction facilitates the exit of Avenue...
Secondaries specialist NewQuest reaches $215m first close on Fund II
NewQuest Capital Partners has reached a first close of $215 million on its second fund, which focuses on direct secondary opportunities in Asia. A final close of around $300 million – the hard cap is $330 million – is expected in the first half of next...
The secondary network: Online platforms
Setter Capital’s Secondary Link is the latest online platform intended to fill the information void in the secondaries market. Industry participants have mixed feelings as to its utility
PE firms bid for CVCI-owned BPO firm SourceHOV - report
Apax Partners, The Carlyle Group and Baring Private Equity Asia are said to be among bidders for SourceHOV, a business process outsourcing (BPO) firm jointly owned by Citigroup Venture Capital International (CVCI) and Mumbai-listed HOV Services.
MBK Partners sells Japan-based Invoice to Lone Star
MBK Partners has fully exited Invoice, Japan’s largest telecom bill aggregation service provider, to Lone Star Funds. The sale price was not disclosed but sources close to the deal said the North Asia-focused private equity firm had generated a 2.5x money...