Industry
Australia's GenesisCare files for US bankruptcy protection
GenesisCare, an Australia-headquartered cancer care provider in which KKR holds a minority stake, has filed for bankruptcy protection in the US and announced a restructuring that will separate US operations from those in Australia, Spain, and the UK....
HSBC commits $3bn to Greater China venture debt fund
HSBC has earmarked USD 3bn for a Hong Kong and mainland China start-up lending programme. It marks the bank’s first foray into venture debt in Asia.
Australia's Real Pet Food taps investors for equity injection
Hosen Capital, New Hope Group, and Temasek Holdings have led a AUD 248m (USD 161.2m) equity injection into Australia-based chilled pet food supplier Real Pet Food to pay down debt and support growth.
Primavera closes fourth China fund on $4bn
China-based private equity firm Primavera Capital Group closed its fourth US dollar-denominated fund in February on target at USD 4bn.
HighLight updates final close timeline for China healthcare fund
HighLight Capital, a Chinese life sciences investor, has pushed out the final close on its fourth US dollar-denominated fund to the third quarter amid challenging fundraising conditions for the industry.
Asia private credit: Muffled momentum
The conservative virtues of private credit relative to private equity have come into fashion in a risk-off world. But global participation in the Asian side of the story will be limited
LP interview: Escala Partners
Escala Partners is one of a cluster of Australia-based wealth management platforms attracting more attention from private equity fundraisers. Getting on its approved list requires push as well as pull
Singapore's Qualgro seeks $150m for Fund III
Qualgro Partners, a Singapore-headquartered venture capital firm, is looking to raise USD 150m for its third fund.
AVCJ daily bulletin returns May 29
AVCJ’s daily bulletin will not be published on May 26 due to a public holiday in Hong Kong.
Japan's Mizuho to buy M&A advisor Greenhill
Boutique investment bank Greenhill, arguably best known in private equity for advising on LP and GP-led secondary transactions, has agreed to an acquisition by Japan’s Mizuho Financial Group.
Energy transition: An emerging speciality
Kerogen Capital is trying to plot a more nuanced course into energy transition than building renewables. It is one of a growing number of nascent specialists in the space.
Deal focus: PrimeMovers buys Malaysia machinist in debut deal
PrimeMovers, which spun out from Platinum Equity last year, and UK-based Lingotto Investment Management have jointly acquired Malaysian precision manufacturing company EngTek
Fund focus: Foreign LPs creep into Japan VC
Japan’s Dimension has closed its first fund since spinning out from Dream Incubator, more than doubling its prior vintage and tracking increased interest among regional institutional investors
Q&A: Gobi Partners' Thomas Tsao
Thomas Tsao, co-founder of Gobi Partners, on Chinese investors targeting Southeast Asia, the fallout from US-China tensions, fundraising and fund strategy, and what excites him about technology
Australia's Giant Leap closes second impact fund with $30m
Australian impact VC investor Giant Leap has closed its second fund with about AUD 45m (USD 30m) in commitments. The firm raised AUD 15m for Fund I in 2016.
BII backs Southeast Asia energy transition fund
British International Investment (BII), a UK development finance institution (DFI), has committed USD 15m to a Southeast Asia-focused energy transition infrastructure fund managed by Switzerland-based Susi Partners.
Exacta seeks $350m for SE Asia fund, wins ADB support
Singapore’s Exacta Capital Partners, a PE firm affiliated with Mizuho Asia Partners, has received USD 25m from Asian Development Bank (ADB) for its latest fund. The target is USD 350m.
Japan Post Bank sees sharp increase in PE exposure
Japan Post Bank’s (JPB) private equity funds exposure increased 75% to JPY 5.6trn (USD 40.4bn) in the most recent financial year, which it said was largely driven by a change in accounting standards.
Qiming hits $930m final close on latest renminbi fund
Qiming Venture Partners has closed its seventh renminbi-denominated fund on CNY 6.5bn (USD 930m), marking what it claims is China's largest local currency fundraise of 2023 to date
East Ventures closes follow-on fund at $250m
East Ventures has announced a first and final close of USD 250m on its latest follow-on fund, bringing capital raised in the past 12 months to USD 835m.
Jefferies hires Dennis Kwan to lead Asia secondaries advisory
Dennis Kwan, formerly of Chinese private equity firm Harvest Investments Management and placement agent MVision, has joined boutique investment bank Jefferies to lead secondaries coverage in Asia.
Fund focus: Patience pays for off for Movac
New Zealand VC firm Movac has exceeded expectations with its latest vintage, trading individuals and families for institutions, some of which are entering the asset class for the first time
Profile: Mandala Capital's Uday Garg
Uday Garg realised an unlikely career arc from tennis to private equity with the establishment of India’s Mandala Capital. This was guided by a passion for achieving impact in food and agriculture
South by Southeast: Asia's next growth engine?
Grouping together markets based on growth and scale is a problematic with South Asia and Southeast Asia as it was with the BRIC economies. But to some extent, investors are buying into the story