Exits
Longreach sells Japanese jeweler to Integral
The Longreach Group has exited Primo Japan to Integral Corporation for an undisclosed sum. This makes Integral the jewelry retailer’s fourth consecutive private equity owner.
AVCJ Awards 2020: Operational Value Add: Nexus Day Hospitals
Having formed Australia-based Nexus Day Hospitals by merging two smaller operators, Mercury Capital led a wholesale expansion and professionalization of the business
PE-owned Aadhar Housing Finance files for India IPO
Aadhar Housing Finance, an Indian affordable housing lender acquired by The Blackstone Group in 2019, is looking to raise up to INR73 billion ($1 billion) through a domestic IPO.
Hopu founder backs China healthcare-focused SPAC
Fenglei Fang, founder and chairman of Chinese private equity firm Hopu Investments, is looking to raise $300 million for a special purpose acquisition company (SPAC) that will target healthcare companies with a China focus or expansion prospects in the...
AVCJ Awards 2020: Exit of the Year - Small Cap: China Feihe
The secret to Morgan Stanley Private Equity Asia’s 148x return on dairy producer China Feihe was having faith both in the baby care industry and in a quality domestic brand
Deal focus: Monetizing mice
ORI Capital’s 2.8x return on its investment in Kymab was in part based on helping the company make the transition from antibody-based discovery platform to drug development engine
Asia PE investment ends 2020 on a tear
A fourth-quarter surge in growth-stage deal-making took Asia private equity investment to $198.5 billion in 2020, comfortably surpassing the previous year’s total despite the strictures of COVID-19.
AVCJ Awards 2020: Operational Value Add: TEG
Affinity Equity Partners turned TEG from a ticketing business into a broad-based live events promoter, while simultaneously taking it from Australia-centric to global
Chinese-owned gaming business completes $1.9b IPO
Playtika, an Israel-headquartered social and mobile games company that was acquired by a PE-backed Chinese consortium in 2016, gained 17% on its US trading debut following a $1.88 billion IPO.
Olympus-sponsored SPAC raises $130m
Olympus Capital has raised $130 million for a special purpose acquisition company (SPAC), which it is sponsoring via its fifth pan-Asian fund.
AVCJ Awards 2020: Firm of the Year - Large Cap: Warburg Pincus
Whether it is building a logistics platform, backing a take-private or anchoring a growth round for a tech start-up, Warburg Pincus prioritizes local partnerships in Asia
Ascendent founder sponsors SPAC targeting global deals
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has raised $300 million for global consumer technology investments.
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.
Singapore bourse to consider SPAC listings
The Singapore Exchange (SGX) will consider allowing listings by special purpose acquisition companies (SPACs) on the back of a spike in fundraising activity for these structures in the US.
Hong Kong's ORI hits first close on Fund II, exits Kymab
Hong Kong healthcare-focused VC firm ORI Capital has reached a first close of $112 million on its second fund and exited its largest investment, UK biotech developer Kymab, as part of a $1.1 billion deal.
Adamantem sells Australia's Servian to US strategic
Australia’s Adamantem Capital has agreed to sell its position local data analytics consultancy Servian to US counterpart Cognizant for an undisclosed sum.
China's Primavera launches consumer-focused SPAC
Primavera Capital Group has joined the trickle of Asia-based private equity investors launching special purpose acquisition companies (SPACs) in the US, targeting a $300 million capital raise for consumer deals.
Japan's J-Star confirms two exits
Japan’s J-Star has confirmed trade sale exits of healthcare coverage specialist NHS Insurance and fire safety equipment supplier Yokoi Manufacturing.
Thiel, Pacific Century launch second Southeast Asia SPAC
Peter Thiel (pictured), co-founder of PayPal, Palantir Technologies and Founders Fund, and Richard Li, son of Hong Kong billionaire Li Ka-shing, are launching another special purpose acquisition vehicle (SPAC) that will target new economy assets in Southeast...
VC-backed Chinese e-cigarette company targets US IPO
Relx Technology, a Chinese e-cigarette producer backed by Source Code Capital and Sequoia Capital China, has filed for an IPO in the US.
Singapore's VC-backed GoBear to wind down
GoBear, a Singaporean financial technology start-up that received VC backing as recently as May, will cease operations and begin a phased closure of the business, citing pandemic-related disruption.
Applied Materials revises offer for Japan's Kokusai Electric
Applied Materials, which agreed to acquire Japanese semiconductor industry supplier Kokusai Electric from KKR 18 months ago, has increased its offer for the company from $2.2 billion to $3.5 billion.
Delivery Hero wins approval for Woowa deal in Korea
Private equity investors in Korean food delivery business Woowa Brothers look set for a liquidity event after regulators gave conditional approval for a $4 billion acquisition by Delivery Hero.
PE-backed WealthNavi soars on Tokyo debut
Japanese financial technology start-up WealthNavi gained 100% on its trading debut following a JPY17.9 billion ($172.9 million) IPO that facilitated partial exits for Gree Ventures, Infinity Venture Partners, and Global Brain.