Exits
PropertyGuru completes SPAC merger, trades flat
PropertyGuru, a private equity-backed Southeast Asia real estate portal, traded flat on its New York Stock Exchange debut following a merger with a special purpose acquisition company (SPAC) at an enterprise value of USD 1.36bn.
Livingbridge gets ESG-linked credit facility in Australia from Ares
Livingbridge has secured AUD 280m (USD 206m) in sustainability-linked credit facilities from Ares Management to support its acquisition of Australia-based waste management services provider Waste Services Group (WSG).
PE-backed GoTo targets $1.1b Indonesia IPO
Indonesia-based ride-hailing service turned super app GoTo, which counts Alibaba Group and SoftBank Vision Fund among its largest external investors, is looking to raise at least IDR 15.2trn (USD 1.1bn) through a domestic IPO.
J-Star exits Japan nursing care provider
J-Star has exited dementia-focused nursing care provider Platia to Bain Capital-owned counterpart Nichii Gakkan for an undisclosed sum.
BPEA generates $333m through Coforge partial exit
Baring Private Equity Asia (BPEA) has made another partial exit from Indian IT solutions business Coforge, generating INR 25.6bn (USD 333.5m) in proceeds and reducing its position in the company below 50%.
KKR-backed massage chair business files for Hong Kong IPO
V3 Brands Asia, a KKR-backed holding entity for OSIM, which claims to be Asia’s number one brand in the premium massage chairs market, has filed for an IPO in Hong Kong.
CDH CEO leads Hong Kong SPAC
Shuge Jiao, CEO of CDH Investments, is chairing a Hong Kong special purpose acquisition company (SPAC) sponsored by one of the China-based private equity firm’s portfolio companies.
Deal focus: Inspiration snares rare China mid-cap tech buyout
Antute, a third-party IT maintenance provider, became an orphan asset following a larger M&A deal. Inspiration Capital Partners sees it as an attractive play on China’s digitalisation drive
Korean GP Credian sponsors $200m US SPAC offering
Seoul-based private equity firm Credian Partners has teamed up with CrystalBioSciences, a captive VC unit of biopharmaceutical company CrystalGenomics, to raise USD 200m for a US-listed special purpose acquisition company (SPAC).
China's VC-backed Perfect Corp agrees $1bn SPAC merger
Perfect Corp, a Chinese software developer specialising in artificial intelligence (AI) and augmented reality (AR) solutions that allow consumers to experience brands, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at...
AVCJ Awards 2021: Exit of the Year – IPO: Zomato
Zomato’s milestone offering last year saw a pandemic-ready business model awaken the local market to internet-based risk profiles as global investors shifted interest from China to India
AVCJ Awards 2021: Exit of the Year – Small Cap; Operational Value Add: Integreon
Helping Integreon, an over-diversified outsourcing services company, re-focus and renew management was all part of the plan. Postponing the exit as COVID-19 amplified demand was the unexpected coup
PEP targets $742m for second Australia secure assets fund
Australia’s Pacific Equity Partners (PEP) is preparing to launch its second secured assets with an AUD 1bn (USD 724m) target while planning to spin out one of the top-performing Fund I investments into a single-asset continuation vehicle.
Deal focus: Freight player G7 eyes public listing
Having expanded its business scope from hardware into software and financial services, G7 Network is positioning its recent USD 200m PE investment as a pre-IPO round
AVCJ Awards 2021: Exit of the Year – Large Cap: Softex Indonesia
CVC Capital Partners helped Softex Indonesia grow its market share by penetrating modern retail channels and launching an ESG program. A USD 1.2bn trade sale exit to Kimberly-Clark was its reward
AVCJ Awards 2021: Operational Value Add: Best & Less Group
Allegro Funds plucked Australian baby and kids retailer Best & Less from its underperforming parent and defied pandemic-related uncertainty to complete a turnaround that culminated in an IPO
Navis poised for 6x return on TES-Envirocorp
Navis Capital Partners is set to generate a 6x return on its investment in Singapore-based TES-Enivrocorp, following an agreement to sell the environmental services provider to Korea’s SK Ecoplant at a valuation of USD 1bn.
Hong Kong game developer 6Waves bought by European strategic
6Waves, a Hong Kong-based mobile game developer that previously received funding from Insight Partners, has been acquired by Swedish gaming studio Stillfront Group for USD 201m, comprising cash and shares.
Blackstone buys majority stake in Indian wealth manager
The Blackstone Group has acquired a majority stake in Indian wealth manager Ask Investment Managers, taking out positions held by Advent International and other investors.
AVCJ Awards 2021: Exit of the Year – Mid Cap: Infogain
ChrysCapital has realized its largest-ever exit from a single-fund investment with IT services provider Infogain. In the process, it opened one of private equity’s richest cross-border opportunity sets
AVCJ Awards 2021: Firm of the Year – Large Cap: Baring Private Equity Asia
Baring Private Equity Asia claims that a thematic approach to origination and flexibility on deal structure allow it to pursue opportunities with greater conviction in a high-valuation environment
India logistics player Xpressbees raises $300m
The Blackstone Group, TPG Capital, and ChrysCapital Partners have participated in a USD 300m round for Xpressbees, an Indian logistics start-up established by the team behind mother-and-baby retailer FirstCry.
India's Kedaara creates digital services platform
India’s Kedaara Capital is forming an outsourced digital services platform through the merger of Gavs Technologies and Great Software Laboratory (GS Lab), having acquired majority interests in the two companies over the past three months.
LionRock launches Hong Kong SPAC
LionRock Capital, an Asian private equity firm that invests in global consumer brands with a China growth angle, is among the first group of sponsors launching special purpose acquisition companies (SPACs) in Hong Kong.