Exits
Dymon exits Singapore's AMES via trade sale
Dymon Asia Private Equity has sold 100% of Singapore-based biohazardous waste disposal business Asia Medical Enviro Services (AMES) to Indonesia-listed coal miner TBS Energi Utama.
China's PE-backed Ubtech Robotics files for HK IPO
Ubtech Robotics, a China-based developer of service and humanoid robots valued at CNY 32bn (USD 4.4bn) in its most recent private funding round, has filed for a Hong Kong IPO.
PAG buys Australian hospitality business from KKR
PAG has acquired Australian Venue, which owns a portfolio of pubs, bars, and restaurants across Australia, from KKR for more than AUD 1.4bn (USD 900m).
BPEA EQT exits India's Coforge via $924m block trade
BPEA EQT has sold its remaining 26.6% stake in India-listed IT provider Coforge, realising USD 924m through a block trade and completing a staged exit started in late 2020.
Vietnam's VNG files for US IPO
Vietnam-based VNG, operator of the country’s largest mobile game publishing platform and largest messaging app, has filed for an IPO in the US.
Indian family offices invest $52m in FirstCry
Three Indian family offices have committed INR 4.35bn (USD 52.7m) to domestic mother-and-baby retailer FirstCry through a secondary transaction that facilitated a partial exit for SoftBank Vision Fund, among others.
WestBridge buys investment platform FundsIndia
WestBridge Capital has acquired a majority stake in FundsIndia, an online investment platform that offers access to mutual funds, public equities, and fixed deposit products, for an undisclosed sum.
Everstone completes exit from India's SJS Enterprises
Everstone Capital has sold its remaining 29.5% interest in SJS Enterprises, an India-based provider of decorative aesthetics that serves carmakers and consumer products manufacturers, for around USD 66m.
CLSA exits Japanese uniform rental business Uni-Mate
Japan’s CLSA Capital Partners (CLSA CP) has sold 100% of uniform rental and cleaning business Uni-Mate to local private equity firm Karita & Company (K&C) for an undisclosed sum.
PE-backed Gambol Pet trades up after $220m China IPO
Gambol Pet, a Chinese mass-market pet food manufacturer backed by KKR and Legend Capital, has traded strongly since raising CNY 1.6bn (USD 220m) through a domestic IPO.
Deal focus: Longreach hits homerun with Quasar
The Longreach Group transitioned Quasar Medical to professional management, took it into new markets, and diversified the company’s manufacturing footprint. A 7x return was its reward
TA sells Australia's Honan Insurance to global strategic player
TA Associates has agreed to sell Honan Insurance Group, an Australia-based insurance broker specializing in corporate risk, employee benefits, and strata and real estate insurance, to Marsh McLennan.
Vietnam's VinFast completes SPAC merger, sees volatile trading debut
Vietnam-based electric vehicle (EV) manufacturer VinFast saw its stock climb 287% and then fall back by 47% during the first two days of trading following one of the largest mergers to date with a US-listed special purpose acquisition company (SPAC).
PE-linked SPAC to merge with China ride-hailing business
A special purpose acquisition company (SPAC) led by two Chinese private equity investors has agreed to merge with local ride-hailing business Wanshun Technology Industrial Group in a deal that values the target at approximately USD 300m.
Japan's Advantage sells Wavedash to US-listed strategic for $61m
Japan’s Advantage Partners has sold online ticket marketplace Wavedash to Vivid Seats, a US-listed ticketing technology company, for JPY 8.7bn (USD 61m).
Carlyle backs Quest Global, Bain, Advent exit
The Carlyle Group has agreed to acquire a significant minority stake in Singapore-based engineering services company Quest Global, facilitating exits for Bain Capital and Advent International.
Advent buys Australian fashion brand Zimmermann
Advent International has agreed to acquire a controlling interest in Australia-headquartered fashion brand Zimmerman, facilitating a partial exit for Italy-based private equity firm Style Capital.
AVCJ Awards 2023 - nominations have closed
Nominations for the 2023 AVCJ Private Equity & Venture Capital Awards have now closed. Thanks to all who participated. Voting will open in about two weeks.
L Catterton exits Australia’s Seafolly
L Catterton Asia has sold Australian swimwear brand Seafolly to an unidentified Asian strategic buyer in a deal that values the company at AUD 70m (USD 46m).
KKR buys India pallet pooling business
KKR has paid an undisclosed sum for a majority stake in Leap India, a supply chain services provider focused on cost reduction through pallet pooling. It sets up exits for several PE investors.
PE-backed Adlai Nortye pursues US listing
Adlai Nortye, a private equity-backed Chinese cancer drug developer that previously filed to list in Hong Kong, is now targeting an IPO in the US.
Chinese retailer KK Group files for Hong Kong IPO
KK Group, a Chinese online-to-offline lifestyle retailer that has raised more than USD 400m in venture capital funding, has filed for a Hong Kong IPO.
Longreach sells Hong Kong medical devices player to Boyu
The Longreach Group has sold Quasar Medical, a Hong Kong-headquartered medical devices manufacturer it has owned since 2019, to Boyu Capital for an undisclosed sum.
Singapore's Mirxes raises $50m, files for Hong Kong IPO
Singapore-based biotech player Mirxes has raised USD 50m in Series D funding - at a post-money valuation of USD 600m - from the likes of Beijing-based Fupu Capital and Japan's Mitsui & Co, and filed to list in Hong Kong.