Trade sale
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.
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).
Deal focus: Icon retains its private equity appeal
EQT’s $1.67 billion acquisition of Icon Group underscores the recent trend in large-cap buyouts, as well as the long-term growth potential for cancer care specialists in Australia and the wider Asian region
EQT buys Australia cancer care business from PE consortium
Goldman Sachs Asset Management, QIC, and Pagoda Investment – a China-focused GP set up by a former QIC executive – have agreed to sell Australia cancer care provider Icon Group to EQT for a reported valuation of A$2.3 billion ($1.67 billion).
Carlyle acquires Korean cafe operator, Anchor Equity exits
The Carlyle Group has acquired A Twosome Place, a Korea-based café operator with more than 1,400 stores nationwide, from Anchor Equity Partners.
MBK sells Japan's Accordia Golf to Fortress
MBK Partners has agreed to sell Japan-based golf course operator Accordia Golf, which it acquired in 2017 via a tender offer, to Fortress Investment Group.
Baring, Quadrant claim firm of the year prizes at AVCJ Awards
Baring Private Equity Asia (BPEA) and Quadrant Private Equity won the firm of the year prizes at the 2021 AVCJ Private Equity & Venture Capital Awards, as KKR and NewQuest Capital Partners secured two victories apiece, and Weijian Shan received the AVCJ...
Potentia exits Australia SaaS provider to UK strategic
Australia’s Potentia Capital has exited compliance software-as-a-service (SaaS) supplier CompliSpace to UK-based Ideagen for about A$110 million ($81 million) after a less-than-two-year hold.
Singapore audience data business sold to trade buyer
US data and analytics services provider Dun & Bradstreet has agreed to acquire Singapore audience data business Eyeota, setting up exits for several private equity investors.
Baring Asia buys Tricor from Permira for $2.7b
Baring Private Equity Asia (BPEA) is set to expand its corporate services provider portfolio, having agreed to buy Tricor Group from Permira for an enterprise value of $2.76 billion.
CLSA completes exit from Japan cram school
CLSA Capital Partners (CLSA CP) has sold its remaining shares in Japanese cram school operator BC Ings to Eishinkan, a major player in the segment.
Reliance Retail buys Indian fashion brand, Everstone exits
Everstone Group has exited its minority position in India-based design house Rita Kumur after domestic behemoth Reliance Industries moved to buy a 55% stake in the company.
3Q analysis: India advances
India technology investment continues to ramp up as China flatlines; international payments M&A drives Asia trade sale revival, but IPOs slump; fundraising remains slow
Eneos to buy PE-backed Japan Renewable Energy for $1.8b
Eneos Holdings, an oil company and active technology investor, has agreed to acquire Japan Renewable Energy (JRE) from Goldman Sachs Asset Management and GIC.
Allegro sells New Zealand retailer to Pencarrow
Australian turnaround investor Allegro Funds has sold The Interiors Group – a New Zealand-based home interiors retailer formerly known as Carpet Court – to Pencarrow Private Equity.
Riverside exits Japan bicycle business to Daiwa
The Riverside Company has sold Japan-based bicycle retailer Y International to domestic private equity firm Daiwa PI Partners for an undisclosed sum.
Platinum sells Singapore's PCI for $306m
Platinum Equity has agreed to sell PCI, a Singapore-headquartered electronics manufacturing services provider it acquired in 2019, to US-listed Celestica for $306 million in cash.
True North exits India's RDC Concrete after 16-year hold
True North has agreed to sell India-based RDC Concrete, a company it has owned since 2005, to private equity-backed online construction marketplace Infra.market.
Fund focus: AGIC sticks to cross-border growth thesis
Having found its sweet spot bridging the middle markets of Asia and Europe, AGIC Capital plans to stay there – although Fund II will move earlier to capture technology hardware post-commercialization
India media SaaS platform Amagi raises $100m
Accel Partners, Avataar Ventures, Norwest Venture Partners, and Premji Invest, have committed $100 million in funding to Amagi, an India-based software-as-a-service (SaaS) platform aimed at TV broadcasters.
GPs see more paths to liquidity in Southeast Asia - AVCJ Forum
SPAC deals and GP-led secondary transactions are bringing more liquidity options to Southeast Asia, a geography where private equity investors have often struggled to achieve exits, industry participants told the AVCJ Singapore Forum.
PE investors exit Indonesia telecom towers business
The Carlyle Group has exited what was its debut investment in Indonesia – after a nine-year holding period – with the sale of telecom towers operator Solusi Tunas Pratama (STP).