Exits
China hotpot home dining player Guoquan pursues HK listing
Guoquan, a Chinese hotpot ingredients supplier that now positions itself as a one-stop home meal solutions brand, has filed for a Hong Kong IPO.
Temasek increases holding in India's Manipal Health
Temasek Holdings is set to become the majority shareholder in Indian hospital operator Manipal Health Enterprises, having agreed to acquire an additional 41% stake in the company. The transaction facilitates an exit for TPG Capital, but the PE firm will...
Deal focus: Goldman secures $1bn exit from India's ReNew
Goldman Sachs has clocked a healthy return from ReNew Energy Global after helping the company diversify its offering and navigate the regulatory pitfalls of India’s renewables space
Logistics start-up Lalatech pursues Hong Kong IPO
Lalatech Holdings, the parent company of Hong Kong delivery platform Lalamove, has filed for an IPO in Hong Kong. This would represent a liquidity event for the likes of Hillhouse Capital, MindWorks Ventures, and Shunwei Capital.
Creador completes exit from Malaysia's Mr DIY
Creador has exited its remaining 4.9% equity interest in Malaysia-listed home improvement retailer Mr DIY, generating proceeds of MYR 664m (USD 150.5m).
GIC takes co-control of Bain-owned Japan software company
Bain Capital has ceded co-control of Japanese HR software provider Works Human Intelligence (WHI) to GIC in a deal ranked among the Singapore sovereign investor’s largest acquisitions.
HKEX relaxes rules for IPOs by pre-profit tech companies
The Hong Kong Stock Exchange (HKEX) has loosened its listing requirements to allow pre-profit technology companies to go public with market capitalisations as low as HKD 6bn (USD 764m).
TPG completes exit from India's Campus Activewear
TPG Capital – acting through its growth equity strategy – has completed its exit from Campus Activewear, an Indian athleisure footwear brand it took public last April.
TII, Premji to acquire India medical devices player
Tube Investments of India (TII) and Premji Invest have agreed to acquire medical instruments maker Lotus Surgicals for up to INR 3.5bn (USD 42.3m), providing an exit for Samara Capital.
Accenture buys India's VC-backed Flutura
Flutura, an India-headquartered provider of artificial intelligence-enabled (AI) analytics services to industrial customers, has been acquired by Accenture. The deal facilitates an exit for several VC investors, including Vertex Ventures.
Japan's Aspirant announces third exit in three weeks
Aspirant Group has sold Japan’s only offshore drilling contractor, Japan Drilling (JDC), to JX Nippon Oil Exploration Corporation for an undisclosed sum, marking its third exit in as many weeks.
China chatbot maker Xiao-I trades down after US IPO
China-based chatbot company Xiao-I has traded down 17.5% since raising USD 39m in a disappointing NASDAQ IPO on March 9.
China IPOs: Back to New York
With regulatory challenges receding, Chinese companies are once again targeting US listings. But the journey to New York – in terms of approvals, locations, and valuations – isn’t necessarily smooth
Kedaara buys majority stake in India dermatology player
Kedaara Capital has acquired a majority stake in medico-aesthetic dermatology services Oliva Skin & Hair Clinic, facilitating an exit for healthcare specialist InvAscent Capital.
China industrial supplies platform ZKH pursues US IPO
ZKH Group, a China-based industrial supplies platform backed by the likes of Eastern Bell Capital, Genesis Capital, Tencent Holdings, and Tiger Global Management, has filed to list in the US.
Blackstone completes exit from India's Sona Comstar
The Blackstone Group has completed a staged exit from India-listed automotive industry supplier Sona Comstar, selling its remaining 20.5% via bulk open market deals worth about USD 600m.
NIC buys Japan dental consultancy, Jafco exits
Japanese private equity firm Nippon Investment Corporation (NIC) has acquired 100% of local dental industry services provider Medical Support Consulting, facilitating an exit for Jafco.
KKR exits Malaysia's Weststar Aviation after 10-year hold
KKR has exited Weststar Aviation Services (WAS), which primarily provides helicopter transportation services to the offshore oil and gas industry, after a holding period of nearly 10 years.
EQT buys Korean security services provider
EQT has agreed to acquire a majority stake in Korea-based security monitoring business SK Shieldus from an affiliate of SK Group and Macquarie Asset Management, through an investment under its core-plus infrastructure strategy.
AVCJ Awards 2022: Exit of the Year – Small Cap: CosmoLife
When selling CosmoLife, Advantage Partners prioritised strategics with existing customer bases that could help the Japanese drinking water company in its next chapter. This coincided with a healthy valuation
Data sovereignty: Compliance complex
Deglobalisation is broadening the concept of cyber risk management from simply preventing attacks to navigating a minefield of data regulations. The pressure on PE spans investment, operations, and exits
China rolls out guidelines for offshore IPOs
China has sought to facilitate overseas IPOs by local companies through the introduction of a new regulatory regime to guide the process.
Rise Fund buys Malaysian university from KV Asia
The Rise Fund, TPG’s global impact investment platform, has agreed to acquire a controlling stake in Malaysia-based Asia Pacific University of Technology and Innovation (APU) from KV Asia.
AVCJ Awards 2022: Firm of the Year – Mid Cap: Pacific Equity Partners
Reflecting on a 12-month period characterised by a string of bumper exits, Australia’s Pacific Equity Partners sees a clear connection between performance and well-established team and culture