Exits
Australia's PEP secures fourth exit in a fortnight
Pacific Equity Partners (PEP) has agreed on exits from two energy infrastructure-related businesses, taking the Australia-based private equity firm to four announced liquidity events within a fortnight.
China's SenseTime perseveres with IPO despite blacklisting
Chinese artificial intelligence (AI) technology developer SenseTime has relaunched its IPO on the same terms, albeit excluding US investors, after being placed on another blacklist by the US government.
Hong Kong seeks compromise on local SPAC provisions
Hong Kong has compromised on several points of contention in its special purpose acquisition company (SPAC) guidelines, notably removing a requirement that investors can only redeem their shares post-merger if they vote against the deal.
NewQuest set for TPG windfall if Fund V hits $1.75b
The management team of Asia secondaries specialist NewQuest Capital Partners stands to receive a $10 million payout if the firm raises $1.75 billion for its fifth fund, as part of TPG’s acquisition agreement.
Carlyle agrees $419m exit from Japan healthcare business
The Carlyle Group has agreed to sell Sunsho Pharmaceuticals, a Japan-based contract manufacturer of dietary supplements, to Towa Pharmaceutical for JPY47.7 billion ($419.5 million).
Japan's Advantage raises renewables-focused SPAC
Advantage Partners has raised $150 million for a special purpose acquisition company (SPAC) that will target de-carbonization and renewable energy-related assets with a focus on Asia ex-China and Europe.
2022 preview: Japan VC
Japanese VC is growing up fast and looking a little less homogenous in the process. A longstanding growth-stage gap is about to disappear as new actors file in
Q&A: Legend Capital's Richard Li
Richard Li, president of Legend Capital, on evolving US-China relations, the logic behind the recent wave of regulation, investing in line with government policy, and why LPs should get used to onshore exits
Deal focus: Longreach eyes long overdue EnTie exit
Mindful of how political maneuvering has undone previous sale processes of Taiwan’s EnTie Commercial Bank, The Longreach Group is on edge as regulators prepare to rule on a $1.2 billion tie-up with IBF Financial
2021 in review: Boom time
Cheap debt and a desire for assets that deliver technology-driven growth have propelled Asia private equity investment to new highs and supported a resurgence in exits. But fundraising still fails to convince
PEP sells Australia, New Zealand healthcare businesses
Pacific Equity Partners (PEP) has agreed two healthcare exits, with Australia-based medical devices distributor LifeHealthcare to be sold to Ebos Group and New Zealand corporate hospital platform Evolution Healthcare going to QIC and Sunsuper.
Biotech player CANbridge drops on debut after $87m HK IPO
CANbridge Pharmaceuticals, a Beijing-based drug developer that focuses on treatments for cancer and rare diseases, lost 27% in value on its Hong Kong trading debut following a HK$685.1 million ($87.8 million) IPO.
Navis sells Asia inspection business to CDPQ
Navis Capital Partners has sold its minority interest in Qima, an Asia-focused testing, inspection, and certification (TIC) business to Caisse de dépôt et placement du Québec (CDPQ), following a four-year holding period.
China's SenseTime plans pared back Hong Kong IPO
Chinese artificial intelligence (AI) technology developer SenseTime is looking to raise up to HK$5.99 billion in a Hong Kong IPO that is considerably smaller than originally envisaged.
Asia exits: Pass the parcel
Sponsor-to-sponsor exits are set to reach a record high in Asia this year as private equity firms increase velocity of deployment and some strategics remain in a pandemic-induced funk
Longreach to exit Taiwan bank after 14-year hold
The Longreach Group has agreed to sell Taiwan’s EnTie Commercial Bank to IBF Financial Holdings for NT$33.7 billion ($1.2 billion), ending a 14-year journey marked by several frustrated exit attempts.
China's Didi to delist in New York
China ride-hailing platform Didi, which has traded poorly ever since being targeted by regulators in the wake of its IPO in June, plans to delist from the New York Stock Exchange and relist in Hong Kong.
Grab completes SPAC merger, sees volatile trading debut
Southeast Asia ride-hailing platform turned super app Grab experienced a tumultuous first day of trading on NASDAQ following the completion of its merger with a US-listed special purpose acquisition company (SPAC) at an enterprise valuation of $30.4 billion.
Deal focus: Permira passes Tricor baton to Baring
Permira helped Tricor Group consolidate its position in Asian corporate services and upgrade its product offering. Under Baring Private Equity Asia’s ownership, the CEO wants to build a $10 billion company
PE investors wary of inflation in 2022 - AVCJ Forum
Inflation is top of mind for Asia-focused private equity investors as they assess the various uncertainties facing the industry in 2022, the AVCJ Private Equity & Venture Forum heard.
CVC exits Malaysia snacks business to Universal Robina
CVC Capital Partners has agreed to sell Malaysia-based snack foods producer Munchy Food Industries to Universal Robina Corporation (URC) – a branded consumer food and beverage business in the Philippines – for MYR1.93 billion ($454 million).
Secondaries supply-demand mismatch most extreme in Asia - AVCJ Forum
There is not enough capital in Asia to address the number of secondary opportunities – mirroring the situation globally – with investors claiming to have more transaction choices than ever before.
China biotech IPOs in Hong Kong to stay strong - AVCJ Forum
The frenzy for Chinese biotech developers listing in Hong Kong is expected to continue well into 2022, industry participants told the AVCJ Private Equity & Venture Forum.
SPAC regime reflects HK's cautious approach to expansion - AVCJ Forum
The Hong Kong Stock Exchange (HKEx) is positioning its soon-to-launch special purpose acquisition company (SPAC) regime as part of efforts to broaden its appeal in terms of capital markets tools and geographies. At the same time, executives are wary of...