Buyout
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...
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
Retirement homes and related services have emerged as a hot spot for private equity in Japan’s generally uninspiring consumer market
Former Lone Star head in Korea taken into custody
Paul Yoo, the former head of Lone Star in South Korea, has been detained after a Korean judge labeled him a flight risk amid allegations that he, Lone Star and the Korean Exchange Bank (KEB) manipulated KEB's stock prices.
China funds: Cult of personality
Star dealmakers are busy setting up their own funds in China. LPs need to separate the hype from the investment reality
Nestle tables $1.7b offer for Hsu Fu Chi
A fund advised by Baring Private Equity Asia (BPEA) stands to make a substantial gain on its investment in Chinese confectionary company Hsu Fu Chi after Nestle tabled an offer of $1.7 billion for a 60% stake in the company. The size of the deal, which...
SCPE seals Korean forklift partnership
Private equity opportunities in South Korea often come out of corporate restructurings by the country’s conglomerates. Samsung, Daewoo, Hyundai, SK and Lotte have in recent years all jettisoned non-core assets or problem units to lower their debt ratios,...
Blackstone's new fund tipped to reach $16b
Blackstone Group is set to raise a higher-than-expected $16 billion for its latest fund due to strong investor interest, primarily from sovereign wealth funds, Reuters reported, citing a source familiar with the matter. Last year, Blackstone COO Tony...
Korean financial plays are not for foreigners
The Woori and Mirae Asset Life Insurance deals are cause for hope, but foreign PE may still find life difficult
TPG hires Bain Capital's MD for its China team
TPG Capital has recruited Jingsheng Huang, a Shanghai-based managing director at Bain Capital, as it looks to boost its China expertise. He is expected to start his new role in late August, Reuters reported.
PAI sells Kwik Fit to Japanese conglomerate Itochu
French private equity firm PAI Partners has completed the sale of UK auto parts dealer Kwik Fit to Japanese trading conglomerate Itochu for £637million ($1 billion), which includes the acquisition of £457 million ($733 million) in debt.
Lone Star, Hana extend KEB talks to December
Lone Star will have to wait until December to sell its controlling stake in Korea Exchange Bank to South Korean financial conglomerate Hana Financial for $4.3 billion.
Vogo, Tstobe, MBK participate in South Korea's Woori auction
Three South Korean private equity funds, Vogo Fund, Tstone and MBK Partners, have emerged as potential bidders to purchase the government's 57% controlling stake in Woori Financial Holdings, worth an estimated $6 billion .
Warburg Pincus considers new fund
Warburg Pincus is preparing to raise a new buyout fund that could be worth $12 billion, Bloomberg reported, citing two people familiar with the situation. The New York-based private equity firm, which has invested more than 80% of its current $15 billion...
Bain launches second Asia fund, remains focused on Japan
Bain Capital launched its second Asia fund on Tuesday, with Japan remaining the key focus despite the economic fallout from the earthquake, tsunami and subsequent nuclear crisis. However, deals will also be sourced in China and India.
Lone Star challenges stock manipulation charges in Korean court
Lone Star will file a petition to void stock manipulation charges leveled against it and Paul Yoo, the head of its South Korea unit, Reuters reported. The move is likely to prolong the private equity firm’s sale of a 51% stake in Korea Exchange Bank...
Carlyle nears first direct investment in Indonesia
US private equity firm The Carlyle Group is closing in on a 25% stake worth $200 million in GarudaFood, an Indonesian food and beverage company, Reuters reported.
KKR, IFC invest in Indian SME lender
KKR and the International Finance Corporation (IFC) are reportedly set to acquire a 14.9% and a 12% stake, respectively, in Magma Fincorp, a Kolkata-based lender for trucks and farm equipment, via the issuance of new new shares. The transaction is valued...
TPG hires Goldman PE veteran as MD
TPG Capital has reportedly hired Steve Sun, Managing Director of Goldman Sachs, as a China Partner, global media reports.
Archer Capital to launch fifth fund this year
Australian private equity leader, Archer Capital, is reportedly planning to raise A$ 1.2 billion ($1.27 billion) for a new fund towards the end of this year, according to Reuters.
China Development Bank applies for stake in TPG
Government-owned China Development Bank (CDB) is reportedly seeking permission to purchase a stake in TPG Capital, coming one month after TPG sold a 4.5% stake to the Government of Singapore Investment Group (GIC) and the Kuwait Investment Authority (KIA).
TPG and CNinsure’s CEO aim to take full control of the company
Leading private equity firm TPG will team up with Yinan Hu, CEO of Chinese insurance intermediary, CNinsure, to take over the Nasdaq-listed company. The partnership has made proposal to acquire the shares of CNinsure that TPG and Hu did not owns.
J-Star ups stake in Apo Plus
Japanese private equity firm J-Star has increased its stake in Apo Plus Station K.K. (APS), a pharmaceutical-focused contract sales organization (CSO) in Tokyo which the firm already two-thirds owns. The size and value of the stake has not been disclosed.