Buyout
Carlyle poaches Affinity MD to head up Korea operations
The Carlyle Group has appointed Sanghyun Lee as managing director with responsibility for the private equity firm’s South Korean investment activities. Lee joints from Affinity Equity Partners, where he also served as Korea-focused managing director....
Blackstone sees opportunities in China's 'economic dislocations'
China’s slowing GDP growth should create “economic dislocations” that translate into acquisition opportunities for foreign investors, according to Stephen Schwarzman, chairman and CEO of The Blackstone Group.
Skylark exit helps consign buyout boom to history
With Skylark sold and Yayoi likely to follow it, Japan’s megadeals of 2006-2008 are finally being dismantled and the – relatively meager – profits returned to investors
KKR seeks $6b for second Asia buyout fund
KKR is targeting $6 billion for its second Asia buyout fund, coming as a host of global private equity firms prepare new regional vehicles.
Blackstone targets $3b global energy fund
The Blackstone Group aims to raise up to $3 billion for its first energy fund, according to people familiar with the situation. Tony James, the private equity firm’s president, said in an earnings call that initial commitments stand at $1 billion.
Blackstone announces 3Q loss on drop in valuations
The Blackstone Group posted a loss of $341.9 million in the third quarter compared with a $339.3 million profit a year earlier. The disappointing results came as the private equity firm saw an 11% drop in the value of its buyout holdings amid ongoing...
EQT, TPG funds reflect Asia's PE power
Asia's growing significance in the private equity world was further confirmed in two separate fundraising events last week. First in Europe, where EQT Partners announced that Asia Pacific LPs were responsible for nearly one quarter of total commitments...
Blackstone appoints Costello chairman for Australia, New Zealand
Paul Costello, who stepped down as general manager of Future Fund late last year, has been appointed The Blackstone Group’s non-executive chairman for Australia and New Zealand. He will report to Tony James, the private equity firm’s president, and Michael...
Tata Opportunities Fund makes second close at $550m
Tata Capital has completed the second close of its latest private equity vehicle, the Tata Opportunities Fund LP, at $550 million.
Asia LPs are raising PE allocations, says Warburg Pincus' Landy
Joseph Landy, co-president of Warburg Pincus, said that limited partners in Asia are maintaining or increasing their allocations to private equity on a percentage basis, despite the global economic downturn.
Global buyout firms warn of tightening credit markets
Henry Kravis, co-founder of KKR, said that private equity deals are becoming more expensive as debt markets tighten and the cost of capital goes up.
Maarten Ruijs: An enduring interest in Asia
Maarten Ruijs, managing partner & chief investment officer of CVC Asia Pacific, reflects on coping with the global economic downturn and explains why he’s in Asian private equity for the long haul
Blackstone's Ben Jenkins to depart by the end of the year
Ben Jenkins, Hong Kong-based senior managing director at Blackstone Group, will depart the firm at the end of the year to return to New York.
Carlyle files for IPO but listing not expected until 1H 2012
The Carlyle Group made its IPO filing on Tuesday but volatility in the global markets means the offering is unlikely to happen until the first half of 2012.
CVC resumes efforts to sell Japanese shoe repair chain
CVC Asia Pacific has hired Mizuho Securities to advise on the sale of shoe repair chain Minit Asia Pacific and invitations have been sent for first-round bids, according to Reuters.
ANZ linked to potential acquisitions of Tokyo Star Bank, Aozora Bank
Australia and New Zealand Banking Group (ANZ) is reportedly looking to acquire Lone Star-controlled Tokyo Star Bank or Cerberus-owned Aozora Bank.
Market volatility hits US-listed buyout firms
Publicly traded buyout firms have seen their share prices fall 19-27% so far in August, compared to a 9.5% drop in the Dow Jones Industrial Average. As the market troubles escalated yesterday, with the Dow retreating 3.7%, Blackstone Group, KKR, Apollo...
CAS Capital to exits controlling stake in Japanese restaurant chain
CAS Capital will sell controlling stake in Japanese restaurant chain Kazokutei to H2O Retailing, a listed holding company of Hanshin and Hankyu Department Store Groups, through a tender offer buyout.
Carlyle, Unison sell nearly half of Covalent for $450m
The Carlyle Group and Unison Capital has sold part of Covalent Materials, a Japanese silicon wafer and ceramics manufacturer to Taiwanese solar wafer maker Sino-American Silicon Products (SAS). The deal size has not been disclosed, but it is thought to...
TPG eyes controlling stake in Indonesian tire manufacturer
US buyout firm TPG Capital has emerged as a potential bidder for Indonesian tire manufacturer Multistrada Arah Sarana, Reuters reported. It faces competition from South Korea's Hankook Tire and Japan’s Yokohama Rubber.
Mandolin Fund backs trouble-hit Sino-Forest
On June 2, short-seller research firm Muddy Waters branded Chinese timber firm Sino-Forest a fraud, prompting a 71% drop in the firm’s stock within 48 hours. Paulson & Co. cut and ran three weeks later. The hedge fund was said to have owned nearly 35...
Bain, KKR to bid for PE-owned MYOB - report
Bain Capital and KKR are reportedly among the contenders to acquire Australian accounting software provider MYOB from owners Archer Capital and HarbourVest Partners. Bidding for the asset, which could reach A$1 billion ($1.03 billion), is slated to begin...
Blackstone closes in on third India power deal
In August 2010, Akhil Gupta, chairman and managing director of Blackstone India, said the private equity firm “would not hesitate” to invest $1 billion in the country’s power sector if attractive deals presented themselves.
Funds monetize Japan's aging demographic
Japan may be the world second-largest economies but, by Asian standards, it is also one of the most mature. GDP growth is lackluster and the consumer market is pedestrian compared to those of the region’s emerging nations, which are still driven by urbanization,...