Switzerland-based perfume and flavorings manufacturer Firmenich has agreed to acquire a majority stake in Indian seasonings business VKL Flavors, providing a full exit for True North.
Tot Biopharm, a private equity-backed Chinese cancer drug developer, has filed for a Hong Kong IPO under rules that allow for listings by pre-revenue biotech companies.
The Blackstone Group has acquired Geo-Young, a South Korean wholesale drug distributor, working in conjunction with the founders. It facilitates an exit for local GP Anchor Equity Partners, which invested in the company in 2013.
South African internet conglomerate Naspers Group has agreed to exit its holding in MakeMyTrip, a US-listed Indian online travel agency, to Chinese travel services firm Ctrip.
Affinity Equity Partners is set to make a partial exit from Leong Hup International as the Malaysian poultry producer looks to raise up to MYR1.19 billion ($288 million) in a domestic IPO.
Douyu International Holdings, a Chinese live-streaming platform that provides coverage of online gaming, has announced plans for a US listing. The company’s investors include Sequoia Capital China and Tencent Holdings.
Luckin Coffee, China’s second largest coffee shop chain, which counts Centurium Capital and Joy Capital among its private equity investors, has filed to list in the US.
Petroliam Nasional (Petronas), Malaysia’s state-run oil and gas company, has agreed to acquire Amplus Energy Solutions, an Indian solar power developer backed by I Squared Capital.
Indonesia has become a source of frustration for LPs that want to see more exits. A weak currency, slower growth and rising competition aren’t helping GPs as they seek to deliver the required returns
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).
CVC Capital Partners has made a partial exit from Indonesian sports retailer MAP Aktif Adiperskasa, generating proceeds of approximately IDR4.1 trillion ($288 million) through a share sell-down.
First quarter analysis: China uncertainty hits PE investment; public market instability holds back IPOs; distress strategies underpin India fundraising as commitments to China-focused managers plummet
So-Young International, a Chinese online marketplace focusing on cosmetic surgery, has filed to list in the US. PE backers include Orchid Asia, Matrix Partners China, and the Russia-China Investment Fund (RCIF).
The troubles at China's HNA Group, Wanda Group and Anbang Insurance have removed a once popular exit channel for private equity, but now GPs may see these companies as a source of deal flow
Ruhan, a VC-backed Chinese celebrity incubator that creates online personalities who drive e-commerce activity, slipped 37% below its IPO price on the first day of trading following a $125 million NASDAQ offering.
Malaysian government-backed private equity firm Ekuinas has exited its entire majority holdings in local healthcare players MediExpress and PMCare to Japan’s Sumitomo Corporation.
Advantage Partners has agreed to sell Ishii Sports, a Tokyo-based outdoor sports equipment retailer it acquired three years ago, to local consumer electronics store operator Yodobashi Holdings.
General Atlantic has acquired Indian pharmaceutical developer Rubicon Research. Everstone Group, the company's controlling shareholder, will realize a 4.5x return on the deal.
Tata Group, GIC Private, and special situations investor SSG Capital have formed a consortium to invest INR80 billion ($1.1 billion) in India’s GMR Airports (GAL). It will facilitate a number of private equity exits.
Bitmain, a private equity-backed Chinese business that manufactures chips for Bitcoin mining, has allowed its application for a Hong Kong IPO to lapse.
South Africa-based conglomerate Naspers plans to spin-off its internet businesses – which include stakes in Chinese giant Tencent Holdings and Indian food-ordering platform Swiggy – through a listing on Euronext in Amsterdam.
Yunji, a Chinese membership-based e-commerce platform that typically works with small-scale retailers that don’t have the resources to compete online, has filed to list in the US.
The private equity industry in Asia is bifurcating on various trend lines around fundraising, exits, and institutionalization. GPs may require a more complex playbook to survive and thrive
Private equity investors believe it will become easier to take companies public in China as the country steps up the pace of capital markets reform, creating a system that is more in line with international norms.