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      2023-china-216x305
      Regional Reports

      The reports review the year's local private equity and venture capital activity and are filled with up-to-date data and intelligence on fundraising, investments, exits and M&A. The regional reports also feature information on key companies.

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Buyback

weststar-helicopter
KKR exits Malaysia's Weststar Aviation after 10-year hold

KKR has exited Weststar Aviation Services (WAS), which primarily provides helicopter transportation services to the offshore oil and gas industry, after a holding period of nearly 10 years.

  • Southeast Asia
  • 06 March 2023
home-property-insurance
GPs exit Australian quantity surveyor to management

The management team of Australia-based quantity surveyor BMT Tax Depreciation has assumed control of the business, ending a seven-year holding period for private equity backers CHAMP Ventures and Yorkway Equity Partners.

  • Australasia
  • 26 August 2022
lens-store
Korea's VIG makes first full exit from Fund III

VIG Partners has agreed to exit its 51% stake in eyewear brand Star Vision through a buyback by the South Korean company’s founder and current minority shareholder.

  • North Asia
  • 03 January 2022
kyobo-life
Kyobo Life arbitration favors GPs, but resolution still elusive

A private equity consortium's right to enforce a put option against the chairman of Korea's Kyobo Life Insurance has been upheld following arbitration, though the ruling stopped short of endorsing a price for the transaction.

  • North Asia
  • 09 September 2021
satellite-dish-dth
Bharti Airtel to buy back stake in DTH business from Warburg Pincus

Warburg Pincus has agreed to exit its stake in Bharti Telemedia, the direct-to-home (DTH) satellite television services arm of Indian telecom services provider Bharti Airtel, through a share buyback worth INR31.3 billion ($429.5 million) in cash and shares.

  • South Asia
  • 18 February 2021
avcj-awards-2020-large-cap-exit-ky-tang
AVCJ Awards 2020: Exit of the Year - Large Cap: Velocity Frequent Flyer

Building a core competence in data analytics and a broader array of loyalty options underpinned Affinity Equity Partners’ 3.6x return on Velocity Frequent Flyer

  • Australasia
  • 05 February 2021
Japan energy solutions buyback continues J-Star's exit run

J-Star, a Japanese lower middle-market GP, has announced its third liquidity event in the space of a week with the exit energy savings solutions provider ESCO via a buyout by company management.

  • North Asia
  • 14 January 2021
GPs sell Wall Street English China business back to founder

Baring Private Equity Asia and CITIC Capital have sold the China-based assets of English language training provider Wall Street English (WSE) back to the original founder after COVID-19 called into question the business model.

  • Greater China
  • 08 September 2020
coworking space
French GP exits Singapore's JustCo with 8x return

France-based GP Tikehau Capital has exited its stake in Singapore workspace provider JustCo, achieving a net profit of S$27.7 million ($20.5 million) and an 8x return multiple.

  • Southeast Asia
  • 13 January 2020
Affinity sells frequent flier stake back to Virgin Australia

Affinity Equity Partners has more than doubled its money on Virgin Australia’s frequent flyer business, having agreed to sell back a 35% stake to the parent company for A$700 million ($480 million).

  • Australasia
  • 17 September 2019
India exits: Milking unicorns

Partial exits from Oyo by Sequoia Capital India and Lightspeed India Partners underline the importance of securing liquidity from a technology unicorn while it is still on the rise

  • South Asia
  • 05 August 2019
Sequoia, Lightspeed make partial exits from India’s Oyo

Sequoia Capital India and Lightspeed India Partners have made a partial exit from India-based online hospitality platform Oyo through a $2 billion round comprising primary and secondary shares. The round brings the company’s valuation to around $10...

  • South Asia
  • 25 July 2019
dispute-gap-shout-argument-divide
Kyobo Life: The mother of all puts

Put options amount to threats seldom acted upon. By demanding that the chairman of Korea’s third-largest life insurer buy back their shares, a group of investors has taken Asian PE into uncharted territory

  • North Asia
  • 08 May 2019
Proventeus exits Philippines franchise of Kenny Rogers Roasters

Proventeus Capital, a Southeast Asia-focused middle-market buyout firm, has exited the Philippines franchise of casual dining chain Kenny Rogers Roasters to the company’s founders, receiving PHP1.79 billion ($34 million).

  • Southeast Asia
  • 15 April 2019
TRG agrees sale of Korean fried chicken business BHC

The Rohatyn Group (TRG) has agreed to exit BHC Group, a South Korean fried chicken restaurant franchisor, by selling the business back to its founder.

  • North Asia
  • 08 November 2018
GMR reaches settlement with investors in airport business

Private equity investors in India’s GMR Airports (GAL) will receive INR35.6 billion ($481.3 million) in cash plus additional equity in compensation after the company failed to deliver a liquidity event within an agreed timeframe.

  • South Asia
  • 09 October 2018
CHAMP exits Australian forex broker Pepperstone

CHAMP Private Equity has exited Australian foreign exchange broker Pepperstone following a buyout by its founders, senior management and Fiona Lock, a managing director at the PE firm.

  • Australasia
  • 14 September 2018
TR gets 3.4x return on Flipkart, opens India office

TR Capital secured a 3.4x net return on its investment in Indian e-commerce giant Flipkart, having sold its stake in conjunction with Walmart’s acquisition of the business. The secondaries specialist announced the exit to coincide with the opening of...

  • South Asia
  • 15 June 2018
SCPE exits India power business via buyback

Standard Chartered Private Equity (SCPE) has sold its stake in Sterlite Power, the power grid subsidiary of Sterlite Technologies, an India-listed transmission solutions provider for the telecom and power industries, via a buyback.

  • South Asia
  • 31 January 2018
avcj-awards-2017-mid-cap-exit-richard-folsom-advantage
AVCJ Awards 2017: Exit of the Year - Mid Cap: Riraku

Over the course of four years, Advantage Partners doubled Japanese massage chain operator Riraku’s store count and tripled EBITDA. A 12x money multiple on exit was its reward

  • North Asia
  • 29 December 2017
Noah to buy back Sequoia’s stake in asset management unit

Chinese wealth management firm Noah Holdings has agreed to repurchase Sequoia Capital China’s stake in its asset management unit – Gopher Asset Management - following difficulty in winning approval for the investment.

  • Greater China
  • 03 October 2017
Deal focus: Advantage kneads 12x return

Advantage Partners has sold Japanese massage chain Riraku back to one of the company's co-founders at a valuation of $300 million, having successfully executed its expansion strategy

  • North Asia
  • 28 September 2017
Advantage exits Japan massage chain in $300m sale

Advantage Partners has sold its majority stake in Japanese massage chain operator Riraku at a valuation of approximately $300 million, securing a 12x money multiple.

  • North Asia
  • 26 September 2017
IDFC exits Seaways via share buyback

India’s Seaways Shipping & Logistics has bought back the entire 24% holding of private equity backer IDFC Alternatives following a decision to defer a previously planned domestic IPO.

  • South Asia
  • 21 August 2017
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