Buyout
Maine PERS commits $30m to Affinity’s fourth Asia fund
Affinity Equity Partners has secured a $30 million commitment for its fourth pan-Asia fund from the Maine Public Employees’ Retirement Systems (Maine PERS). It was one of four investments, each of the $30 million that the $11 billion pension plan announced...
CITIC Captial to acquire Japan’s Polymatech
CITIC Capital Partners has agreed to acquire 100% of Polymatech, a manufacturer of polymer parts for the electronics industry, based in Fukushima.
Bain-owned MYOB to cut debt through notes offer
Accounting software firm MYOB plans to issue A$125 million ($131 million) in subordinated notes to pay down debt used to finance its acquisition by Bain Capital and also to return capital to the private equity investor. The notes will be issued on the...
PEP separates Braiform from portfolio company Spotless
Australia’s Pacific Equity Partners (PEP) has carved out coat hanger manufacturer Braiform from Spotless Group, the cleaning and catering contractor it acquired earlier this year. The company now reports directly to PEP.
Anacacia seeks Aussie SME buyouts
With the established participants in Australia’s lower mid-market having graduated to fund sizes of A$250 million or more as they progressed through the cycles, and many smaller players struggling to raise money, Anacacia Capital finds itself in less...
Australia's PageUp People gets $10m from Accel-KKR
Accel-KKR, a Silicon Valley-based PE firm, has invested $10 million for an undisclosed stake in PageUp People, an Australian firm that provides software for tracking worker performance.
Australia’s Anacacia reaches $129m second close
Australian GP Anacacia Capital has arrived at a second close of A$125 million ($129 million) for its second fund. The private equity firm has already exceeded its target of A$100 million and is on course to reach its hard cap of A$150 million.
Advent raises $10.8b for new buyout fund
Advent International has raised EUR8.5 billion ($10.8 billion) for its seventh global buyout fund, more than the EUR7 billion planned initially. The new vehicle, which launched officially in March, is one of the largest buyout funds raised since the start...
MBK’s Coway deal revived after court approval
MBK Partners’s acquisition of a significant minority stake in water purifier manufacturer Woongjin Coway appears to be back on track after a South Korean court approved the KRW1.2 trillion ($1.1 billion) deal. The deal was put on hold last month after...
Asia fundraising: A divided market
Global and local players are in the market trying to raise new regional and country vehicles. The former can rely on institutional relationships and IR might to get the job done. The latter face a resources squeeze
Riverside acquires Australian e-learning provider
The Riverside Company has bought Australian e-learning firm Learning Seat, its 300th acquisition. The transaction is the first investment of the firm’s affiliated Riverside Asia-Pacific Fund II.
CVC consortium wins first approval for Malaysia KFC bid
A $1.7 billion take-private bid by a CVC Capital Partners-led consortium for Malaysia's two main KFC fast food franchisees won its first approval from shareholders yesterday.
Shareholders to vote against Malaysia's KFC take-private bid
A $1.7 billion bid by CVC Capital Partners and the Malaysian state of Johor for the country's two main KFC fast food franchisees has met with opposition from investors.
How much is too much?
KKR had received commitments of $6.2 billion for its 11th North American fund as of the end of September. The vehicle, which entered the market in early 2011, has attracted about $700 million from LPs in the last six months and questions are being asked...
Carlyle to buy Diversey Japan from Sealed Air
The Carlyle Group has agreed to by Japanese sanitation business Diversey Japan from the Sealed Air Corporation for JPY30 billion ($377 million).
VIDEO: Thomas H. Lee of Lee Equity Partners
Thomas H. Lee, managing partner of Lee Equity Partners, talks to AVCJ TV about the evolution of the US private equity industry, his decision to leave buyouts for growth capital, how investors can identify good managers, and his expectations for China
Korean court says Woongjin will honor MBK’s Coway deal
A South Korean court overseeing bankruptcy proceedings of Woongjin Holdings has said that the company’s biggest shareholder will honor an agreement to sell a controlling stake in subsidiary Woongjin Coway to MBK Partners. The deal was put on hold last...
Carlyle completes first Southeast Asia deal
The Carlyle Group has made its first investment in Indonesia, reportedly buying a stake of around 25% in telecom towers operator Solusi Tunas Pratama (STP) for $100 million. The private equity firm confirmed to AVCJ that it had completed its debut transaction...
Cathay Fortune's Discovery Metals takeover bid turns hostile
Cathay Fortune Corporation (CFC), the private equity group founded by Chinese billionaire Yong Yu, has made a direct approach to Discovery Metals shareholders after the company's board rebuffed its A$830m ($856m) takeover bid.
Hamilton Lane to ramp up Asia allocation to 15%
US-based gatekeeper Hamilton Lane is planning to allocate around 15% of its global portfolio to Asia, as investors look to capitalize on higher growth in the region.
CVC backs Australia's Mantra in Asia expansion
CVC Capital Partners will back Australian hotel group Mantra as it expands into Indonesia, Thailand and Papua New Guinea.
Great expectations: Buyout firms in Southeast Asia
Global buyout firms are deploying more resources in Southeast Asia and expect to see stronger deal flow. But are there enough mid- to large-size transactions to go around, and will they come at reasonable prices?
PE consortium in $330m take-private bid for China's Yongye
Morgan Stanley Private Equity Asia (MSPEA) and Abax Global Capital are backing a $330 million bid by the chairman of Yongye International to take private the US-listed Chinese animal and plant feed maker.
Japan’s J-Star sees 3x return on Apo Plus Station
Mid-market Japanese GP J-Star has sold its majority stake in the pharma-focused contract sales company Apo Plus Station (APS) to Qol, a Tokyo-based pharmaceutical firm.