Trade sale
BPEA EQT, Blackstone, PEP claim top prizes at AVCJ Awards
Baring Private Equity Asia – now BPEA EQT – retained the large-cap firm of the year prize at the 2022 AVCJ Private Equity & Venture Capital Awards as it, Pacific Equity Partners (PEP), and The Blackstone Group claimed two victories apiece.
TPG completes buyout of Australia's iNova Pharmaceuticals
TPG has completed its acquisition of a majority stake in Australia-based prescription medicines business iNova Pharmaceuticals, facilitating exits for Pacific Equity Partners (PEP) and The Carlyle Group.
KKR buys Next Digital Engineering from Rohatyn
KKR has agreed to buy Ness Digital Engineering, a US-based provider of digital transformation services that has a significant back-end service delivery presence in India, for an undisclosed sum.
US GP buys India’s Acqueon from Everstone
US-based Long Ridge Equity Partners has acquired a majority stake in Indian customer engagement software provider Acqueon from Everstone Capital for an undisclosed sum.
Deal focus: Fortitude rings in 9x return on Shopper
Shopping mall-focused digital advertising business Shopper Media Group rode out Australia’s lockdown woes to seal a sale to Woolworths, with Fortitude Investment Partners getting a 9x return
AVCJ Awards 2022 - voting has closed
Voting for the 2022 AVCJ Private Equity & Venture Capital Awards has now closed. Many thanks for your participation.
3Q analysis: Lean times
A flicker in India fails to disguise a miserable quarter for exits; a handful of fast fundraises snap Asia out of its slump; investment gravitates towards developed markets and manufacturing
Warburg Pincus to buy majority stake in India's Vistaar Finance
Warburg Pincus has agreed to acquire a majority stake in Vistaar Finance, an India-based non-banking financial company (NBFC) that serves micro, small, and medium-sized enterprises (MSMEs).
PayU terminates $4.7b acquisition of India's BillDesk
The USD 4.7bn acquisition of Indian payments app BillDesk by industry peer PayU – which was poised to facilitate exits for the likes of TA Associates, General Atlantic, and Temasek Holdings – has collapsed.
Sequoia, ChrysCapital to exit India's Curatio
Sequoia Capital India and ChrysCapital Partners are set to exit Indian skincare brand Curatio, with Torrent Pharma agreeing to acquire 100% of the company for INR 20bn (USD 245m).
Polaris exits Japan LCD panel business
Polaris Capital Group has fully exited Aimechatec, a supplier of LCD panel manufacturing equipment it carved out from Hitachi in 2016 and took public last year, with proceeds of JPY 3.96bn (USD 27.6m).
EQT exits China packaging business to OTPP
EQT has confirmed the sale of its co-control stake in China-headquartered packaging manufacturing company GPA Global to Ontario Teachers’ Pension Plan Board (OTPP) for an undisclosed sum.
Australian GPs sell food businesses to PAG
PAG has acquired Australia-based Patties Foods and Vesco Foods, facilitating exits for Pacific Equity Partners (PEP) and Catalyst Investment Managers, respectively.
Deal focus: Anchorage exits rail player, launches Fund IV
Australia-based Anchorage Capital Partners has extended a string of exits with the sale of a local rail industry player, while going to market seeking AUD 500m (USD 339m) for its fourth fund
Korea: A good time to be different?
Macroeconomic uncertainty and liquidity risk are pushing Korean private equity firms to think beyond buyouts, double down on operational capabilities, and consider all their exit options
Anchorage exits Australia rail operator
Australia’s Anchorage Capital Partners has sold local rail operator Rail First Asset Management for AUD 425m (USD 290m) to Dutch GP DIF Capital Partners and Amber Infrastructure of the UK.
Australia branding platform Outfit acquired by US strategic
Australia’s Outfit, a VC-backed brand management business, has been acquired by Smartsheet, a New York-listed enterprise workflow management platform for an undisclosed sum.
Navis exits Singapore's Adampak after 10-year hold
Navis Capital Partners has sold 100% of Singapore-based Adampak, a diversified manufacturer specialising in labels and barcode stickers, to Oji Imaging Media, a leading Japanese paper company.
Kedaara buys minority stake in India's Oasis Fertility
Kedaara Capital has invested USD 50m for a significant minority stake in Oasis Fertility, a fertility treatment business with more than 26 centres across India.
Keppel buys Singapore waste management player 800 Super
Keppel Corporation has purchased a majority interest in Singapore waste management services business 800 Super Holdings, which was delisted in 2019 through a KKR-backed take-private, at a valuation of SGD 380m (USD 273m).
NZ Super, ACC exit Kiwibank via $1.3b NZ government buyout
New Zealand Superannuation Fund (NZ Super) and Accident Compensation Corporation (ACC) have exited state-owned Kiwibank at an implied valuation of NZD 2.1bn (USD 1.3bn).
AVCJ Awards 2022 - nominations have closed
Nominations for the 2022 AVCJ Private Equity & Venture Capital Awards have now closed. Many thanks to all those who participated.
Korea's Kakao abandons plans for mobility unit stake sale
South Korean internet giant Kakao has abandoned plans to partially divest Kakao Mobility, its transportation division.
Denham, Nexif sell Australia, SE Asia energy assets for $1b
Resources-focused GP Denham Capital and power infrastructure company Nexif have agreed to sell jointly held energy assets across Australia and Southeast Asia at an enterprise value of USD 1bn.