Exits
Integral makes partial exit from Japan’s Skymark
Japanese private equity firm Integral Corporation has sold most of its remaining position in Skymark Airlines, the budget air carrier it took public in December last year.
Beauty brand Mamaearth raises $204m in India IPO
India’s Honasa Consumer, the private equity-backed parent of mother-and-baby brand Mamaearth, raised about USD 204m in a domestic IPO, facilitating several partial exits.
Norwest backs India hospital, HealthQuad marks 3x exit
Norwest Venture Partners has invested INR 4.5bn (USD 54m) in Indian hospital operator Regency Healthcare, facilitating an exit for HealthQuad, which generated a 3x return.
Deal focus: Riverside flourishes in Australia
The Riverside Company has notched a sizeable exit with the sale of Australia’s Energy Exemplar as the GP expands its local team and launches its fourth Australia fund
Deal focus: True North to end 13-year journey with Fincare
Indian private equity firm True North took advantage of regulatory reforms to convert Fincare SFB from a non-bank into a bank. A merger with listed peer AU SFB will finally deliver an exit
Q&A: BPEA EQT’s Jean Eric Salata
Jean Eric Salata, head of BPEA EQT and chair of EQT Asia, on the benefits of diversification, why Asia’s limited reliance on leverage could lead to better relative performance, and being creative with liquidity
PE-backed Guoquan Food raises $52.5m in Hong Kong IPO
Guoquan Food, a Chinese hotpot ingredients supplier that now positions itself as a one-stop home meal solutions brand, is trading at a 8.8% premium to its IPO price following a HKD 411.4m (USD 52.5m) Hong Kong offering.
Everstone exits India's Servion Global Solutions to EMK Capital
Everstone Capital has sold Indian customer experience management provider Servion Global Solutions to UK private equity investor EMK Capital for an undisclosed sum.
T Capital exits Japan confectionery business
Japanese middle market private equity firm T Capital Partners has agreed to sell its majority stake in Confex Holdings, a wholesale confectionery products business, to Yamae Group Holdings for JPY 16.1bn (USD 107m).
Blackstone, Vista buy Australia's Energy Exemplar, Riverside exits
The Blackstone Group and Vista Equity Partners have agreed to acquire Energy Exemplar, an Australia-based simulation software company, setting up a sizeable exit for The Riverside Company.
Japan's Integral agrees strategic exit for fertiliser maker Nitto FC
Japanese GP Integral Corporation has agreed to sell fertiliser maker Nitto FC to Ichinen Holdings, a listed automotive supplier with interests in industrial chemicals, for an undisclosed sum.
Deal focus: Affirma generates 8x return with India’s TBO
Affirma Capital makes good on a partial exit from Indian travel agent software provider TBO.com as General Atlantic comes in to help rekindle plans for a domestic IPO
PE-backed Fincare Bank to merge with listed Indian lender
India’s Fincare Small Finance Bank (Fincare SFB), which is backed by the likes of TA Associates, True North, LeapFrog Investments, and Tata Opportunities Fund, has agreed to merge with listed lender Au Small Finance Bank (Au SFB). The combined entity...
PE-backed J&T Express raises $499m in Hong Kong IPO
J&T Global Express, an express delivery business that launched in Indonesia and expanded region-wide, traded flat on debut following a HKD 3.9bn (USD 499m) Hong Kong IPO.
PE-owned Kokusai Electric gains on debut after $720m Japan IPO
KKR-owned Kokusai Electric gained 28% on debut after raising JPY 108.3bn (USD 720m) in Japan’s largest IPO in five years.
General Atlantic backs India travel platform, Affirma exits
General Atlantic has acquired a minority stake in TBO.com, an India-based business-to-agent travel portal that serves a global customer base, for an undisclosed sum. The deal facilitates a partial exit for Affirma Capital.
Faering invests $30m in India's Vastu, Multiples exits
Faering Capital has invested USD 30m in India’s Vastu Housing Finance, facilitating an exit for Multiples Alternate Asset Management.
Korea's STIC to exit biofuels player to PE-backed consortium
Korea’s STIC Investments has agreed to sell biofuels producer Daekyung Oil & Transportation to a consortium backed by SK Group, Korea Development Bank (KDB), and Eugene Private Equity.
3Q analysis: Dividing lines
China fundraising stays strong, across US dollar and renminbi, despite regulatory concerns; Australia confounds general slowdown in Asia PE investment; exits demonstrate promise if not results
Australia’s Five V exits Totara to trade buyer
Australia’s Five V Capital has sold its majority position in employee management software provider Totara to London-based growth equity investor Tenzing for an undisclosed sum.
AVCJ Awards 2023 - voting has closed
Voting for the 2023 AVCJ Private Equity & Venture Capital Awards has now closed. Many thanks to all those who participated.
SparkLabs launches US-listed SPAC
SparkLabs Group, which operates a network of start-up accelerators and venture capital funds with a strong presence in Asia, has raised USD 100m through a special purpose acquisition company (SPAC) offering on NASDAQ.
Navis seeks up to $1.3b for ninth Asia fund
Navis Capital Partners wants to raise as much as USD 1.3bn for its ninth Asia fund, which is being primed for a formal launch early in the new year.
Taiwan streaming platform set for Singapore SPAC merger
17Live, a VC-backed Taiwan-based streaming platform that previously tried and failed to list in the US, is set to become the first company to list in Singapore through a merger with a special purpose acquisition company (SPAC).