Trade sale
Mercury exits Australia's MessageMedia via $1.3b trade sale
Australian mid-market GP Mercury Capital is on course to exit local B2C mobile messaging platform MessageMedia after Sweden-based Sinch agreed to acquire the company for $1.3 billion.
Deal focus: TEC goes back to the office
KKR and Tiga Investments have acquired Hong Kong’s The Executive Centre at a time when flexible office space is coming into focus, but expansion ambitions need to remain in check
Blackstone buys International Data Group from China Oceanwide
The Blackstone Group has agreed to acquire International Data Group (IDG) from China Oceanwide Holdings for an enterprise valuation of $1.3 billion.
Australia's CPE exits Cell Care to US strategic
Australian middle-market private equity firm CPE has agreed to sell cord blood banking business Cell Care to Generate Life Sciences, a US-based provider of cellular services for fertility and therapeutic purposes.
KKR, Tiga acquire Hong Kong's The Executive Centre
KKR and Tiga Investments have agreed to acquire Hong Kong office space provider The Executive Centre (TEC), facilitating exits for HPEF Capital Partners and CVC Capital Partners.
Tata buys majority stake in India's BigBasket
Tata Group has acquired a majority stake in India’s BigBasket, an online grocer backed significantly by Alibaba Group and several private equity investors. It has been valued previously at around $2 billion.
Vietnam middle market: Room for maneuver
There is a perceived sweet spot in Vietnam where check sizes are too big for local GPs and too small for pan-regionals. Taking advantage means addressing structural nuances and strategic competition
KKR invests $95m in India's Lenskart
KKR has invested $95 million in Indian eyewear retail leader Lenskart via a secondary transaction that facilitated partial exits of undisclosed size for TPG Growth and TR Capital.
Baring Asia exits SAI Global's assurance business
Baring Private Equity Asia is set to exit a significant part of Australia-based SAI Global, having agreed to sell the standards and assurance services business to UK-listed Intertek Group for A$855 million ($664 million).
Korea's Kakao acquires VC-backed storytelling platform
Radish, a Korea and US-based mobile fiction platform, will be acquired by a unit of Kakao Corporation for $440 million. Its backers include SoftBank Ventures Asia and Kakao.
TA buys Singapore corporate services provider, EQT exits
TA Associates has acquired a majority stake in In.Corp Group, a Singapore-headquartered corporate services provider, facilitating an exit for EQT.
China's Mobvista acquires marketing business
Chinese digital marketing player Mobvista has acquired VC-backed local counterpart Reyun in a cash-and-stock transaction worth RMB1.5 billion ($232 million).
Warburg Pincus buys control of India's Parksons Packaging
Warburg Pincus has acquired a majority stake in India-based consumer goods packaging manufacturer Parksons Packaging, taking out positions held by Kedaara Capital, Olza Holdings, and IIFL Holdings.
Blackstone to cement control of India's Mphasis
The Blackstone Group is set to lift its controlling position in India-listed IT services provider Mphasis to 75% as part of a deal worth up to $2.8 billion.
Rising Japan exits staffing services business
Rising Japan Equity, a domestic private equity firm, has agreed to sell Progress, a staffing and contracting services provider, to listed staffing solutions business UT Group for JPY3.09 billion ($28.6 million).
Japan's J-Star partially exits jobs training service
Japan’s J-Star has exited a 20% stake in Aki-Japan, an employee training service provider for the local construction sector. It leaves the private equity firm with an 80% position.
Kakao spins out online fashion unit, buys VC-backed Zigzag
Korean internet company Kakao Corporation has spun out its fashion e-commerce business as an independent entity and merged it with Zigzag, a VC-backed local fashion marketplace.
Deal focus: Gobi sees 100x return on Airwallex
Gobi Partners became Airwallex's first institutional investor in 2016 due to a lack of support in the Australian company's home market. The GP made a partial exit in a recent Series D round at a valuation of $2.6 billion
Deal focus: Partners Group-backed IT play ripens early
Partners Group is set to generate a 5x return on the sale of its 45% stake in GlobalLogic to Hitachi as momentum in corporate digital transformation makes the IT services player a hot commodity
True North makes partial exit from India's PolicyBazaar
Indian private equity firm True North has confirmed a partial exit from local insurance portal PolicyBazaar.
Indonesia e-commerce platform Orami sold to local strategic
Orami, an Indonesian mother-and-baby-focused e-commerce platform backed by numerous venture capital investors, has been acquired by Sirclo, a local e-commerce enabler. Financial details were not disclosed.
Creador exits Indian pharma player to ChrysCapital
Creador has completed a third exit – with a 3.7x multiple and a 32% IRR – from its third South and Southeast Asia-focused fund, selling a minority position in Indian pharmaceutical company Corona Remedies to ChrysCapital.
Partners Group, CPPIB exit GlobalLogic to Hitachi
Partners Group and Canada Pension Plain Investment Board (CPPIB) are exiting a combined 90% stake in US-headquartered GlobalLogic to Japan’s Hitachi at an equity valuation of $8.5 billion.
Applied terminates acquisition of Japan's Kokusai Electric
KKR’s $3.5 billion sale of Japanese semiconductor industry supplier Kokusai Electric to US-listed Applied Materials has fallen through due to regulatory approval issues in China.