Buyout
CVC closes fifth Asia fund at $4.5b
CVC Capital Partners has closed its fifth Asia fund at the hard cap of $4.5 billion. The firm said the step up from $3.5 billion for Fund IV reflects an expansion in its regional investment capabilities.
Fund focus: Carlyle stokes Japan bullishness
Expecting to see a surge in deal flow driven by divestments and succession planning situations, The Carlyle Group has bulked up to $2.3 billion for its latest Japan fund
Carlyle raises $2.3b for fourth Japan buyout fund
The Carlyle Group has raised JPY258 billion ($2.3 billion) for its fourth Japan buyout fund. The vehicle is more than twice the size of its predecessor, which closed at JPY119.5 billion in 2015.
Singapore GP nets $358m for salmon farm fund
Singapore impact investor 8F Asset Management has closed its debut fund at $358 million, beating a target of $300 million. It is dedicated to building a global salmon fishing business.
CDH closes sixth China PE fund at $1.5b
CDH Investments has closed its sixth flagship US dollar-denominated fund with $1.5 billion in commitments. The initial target was $2.5 billion.
Profile: Baring Asia's Jean Eric Salata
Jean Eric Salata has built Baring Private Equity Asia from a one-man-shop into a firm with $20 billion in assets, negotiating financial crises and changing economic realities. He has never been one to stand still
Australia PE spinouts: Into the unknown
Australia has seen plenty of spinouts in recent years, with outcomes ranging from a $2 billion first-time fund to deal-by-deal strategies. Is local LP support essential in getting wider traction?
Minnesota SBI backs KKR's Asia fund
Minnesota State Board of Investment (SBI) is looking to commit $150 million to KKR’s fourth pan-Asian fund. This represents a step up from the $100 million it put into the manager’s previous vehicle.
Blackstone to launch second Asia fund in 2020
The Blackstone Group expects to return to market in 2020 with its second dedicated Asia private equity fund, less than two years after closing the debut vehicle.
MBK wins US pension support for Asia fund
MBK Partners has picked up commitments from New York State Common Retirement Fund (NYSCRF), New York State Teachers’ Retirement System (NYSTRS), and Los Angeles County Employees Retirement Association (LACERA) for its fifth North Asia fund.
Fund focus: Baring sees stability in scale
Jean Eric Salata, CEO of Baring Private Equity Asia, argues that a $6.5 billion fund is not too large for Asia – he wishes he’d raised more – and explains why size increasingly represents a competitive advantage
Baring Asia closes Fund VII at $6.5b
Baring Private Equity Asia has closed its seventh fund with commitments of $6.5 billion. It is the fourth-largest pan-Asian private equity vehicle ever raised.
Fund focus: Korea’s midcap buyout space comes into focus
VIG Partners believes its recent $810 million fundraise validates the firm's middle-market strategy and spur the emergence of new domestic GPs in this area
AVCJ Awards 2019: Firm of the Year - Large Cap: PAG
China’s private consumption story continues to be a driving force for PAG Asia Capital. The GP also won prizes for Deal of the Year - Large Cap and Fundraising of the Year - Large Cap
VIG reaches $810m final close on fourth Korean fund
VIG Partners has closed its fourth Korea-focused fund at $810 million, with approximately half the commitments coming from international investors. This compares to 30% for Fund III, which closed at $600 million in 2017.
Timeline: 2019 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
GP profile: CPE Capital
CHAMP Private Equity became CPE Capital earlier this year, following a leadership transition. The Australian GP has also refined its middle market investment strategy, emphasizing functional expertise
Centurium seeks $2.5b for second China fund
China-focused private equity firm Centurium Capital is back in the market looking to raise $2.5 billion for its second US dollar-denominated fund, barely six months after reaching a final close on its first.
Japan’s J-Star closes fourth fund at $443m
Japanese private equity firm J-Star has closed its fourth middle-market fund at the hard cap of JPY48.5 billion ($433 million), up from JPY32.5 billion in the previous vintage.
India middle market: Polarization point
Increased deal flow towards the top end of India’s private equity market is stretching the capacity of mid-tier local managers. What are the implications for co-investment and fund size?
MBK sets $6.5b hard cap for fifth North Asia fund
MBK Partners is looking to become the sixth pan-Asian private equity manager to cross the $6 billion threshold, having set the hard cap for its fifth fund at $6.5 billion.
KKR targets $12.5b for fourth pan-Asian fund
KKR is looking to raise $12.5 billion for its fourth pan-Asian fund. It is likely to be the largest-ever Asia-focused, US dollar-denominated fundraise, surpassing Hillhouse Capital’s $10.6 billion close last year.
Q&A: TPG's Jon Winkelried
Jon Winkelried, co-CEO of TPG, on taking the helm at a founder-led firm, finding growth opportunities in complementary strategies, and negotiating a difficult year for the Rise Fund
Aspirant scales up for third Japan buyout fund
Aspirant Group, a Japanese middle-market buyout firm, has closed its third fund at the hard cap of JPY50 billion ($463 million). It is nearly twice the size of the GP’s previous vehicle.
