Australasia
CHAMP Ventures buys Australian specialist safety wear retailer
CHAMP Ventures has purchased a 79% stake in RSEA, Australia’s largest specialist safety retailer of hard hats, high-visibility wear and site signs. The remainder is held by company management, including 18% by Managing Director Brandon Chizik who will...
CVC, hedge funds exchange barbs over Nine debt
Negotiations over CVC-owned Nine Entertainment’s debt burden have descended into a war of words between the company and its hedge fund creditors. CVC stands accused of playing a “precarious game” by insisting it is under no pressure to restructure...
CVC’s second Asia fund sees value drop by 10%
CVC Asia Pacific’s second regional fund, which closed in 2005 at $1.975 billion, has reportedly lost 10% of its investment value due to failing portfolio companies such as Australian television network Nine Entertainment.
TPG acquires 20% of MediaWorks' senior debt for $54m
TPG has acquired NZ$70 million ($54.1 million) worth of debt in New Zealand-based MediaWorks from lender Commonwealth Bank of Australia (CBA), accounting for approximately 20% of the company’s full debt load.
CHAMP secures $130m debt for oOh!media deal
CHAMP Private Equity has reportedly secured a senior debt package worth A$130 million ($130 million) to support its take-private of Australian out-of-home advertising firm oOh!media.
Southern Cross to run Australian state-backed VC fund
VC firm Southern Cross Venture Partners has secured the mandate to run the Australian government’s first renewable energy venture fund, the REVCF.
CHAMP PE approved for oOh!media buyout
CHAMP Private Equity has received unanimous approval by the board of directors of Australian out-of-home advertising firm oOh!media to purchase the company for A$163 million ($163 million), capping off the firm’s 2011 on a high and marking its first...
Australia's Goodman, Canada Pension recapitalize China JV
Australian property and logistics firm Goodman Group and Canada Pension Plan Investment Board have infused their joint venture, Goodman China Logistics Holding (GCLH), with an additional $250 million, doubling the JV’s capacity to a total of $500 million.
PEP in running for Petsfoods takeover
Pacific Equity Partners is reportedly the sole bidder left to take over Australian pet food maker VIP Petfoods after CHAMP Private Equity dropped out of the process.
CHAMP buys oOh!media for $163m
CHAMP Private Equity has acquired Australian outdoor advertising firm oOh!media for A$163 million ($163 million), receiving unanimous approval from the company’s directors after failing to receive a higher bid.
Australian lender sells debt in New Zealand media owner at a discount
A lender of Ironbridge Capital-owned MediaWorks, the New Zealand-based owner of TV and radio channels, is selling its NZ$70 million ($54.1 million) of senior debt in the asset for NZ$0.50 on the dollar.
AMP Capital Investors divests 15% stake to Mitsubishi UFJ
AMP Capital Investors has divested a 15% stake in itself to Japan’s Mitsubishi UFJ for A$425 million ($433.5 million), coming as the Australian fund manager looks to break into Japan.
CVC said to offer Nine's creditors second refinancing plan
CVC Asia Pacific has reportedly offered creditors another refinancing plan for the A$2.6 billion ($2.7 billion) of debt held by its Australian portfolio company, Nine Entertainment, coming after lenders rejected CVC’s proposal of granting the firm a...
Pencarrow fund holds first close on $59m
New Zealand-based Pencarrow Private Equity has held a first close of its fourth private equity fund on NZ$77 million ($59 million).
Nine's creditors reject debt restructure plan
The creditors of Australian media group Nine Entertainment have rejected a proposal to restructure the company’s A$2.6 billion ($2.59 billion) of senior debt, potentially jamming Nine’s private equity owner, CVC Asia Pacific, with nearly $2 billion...
Australian supers drive secondaries
The Australian superannuation funds’ ongoing move away from private equity has undoubtedly been a drawback for primary fund managers. But what of the impact on the Asian secondaries market?
IIF program to invest $102m in Australian venture
The Australian government has announced plans to provide venture capital funds with up to A$100 million ($102 million) of capital via its Innovation Investment Fund (IIF) program.
The Founders Fund plans Australian startup fund
US venture capital firm The Founders Fund is reportedly planning to create a vehicle which will invest in Australia-based startup companies.
NZVIF to invest $6m in start-ups
The New Zealand Venture Investment Fund (NZVIF) is making plans to invest up to NZ$8 million ($6 million) in New Zealand-based start-up firms.
Hedge funds buy more of Nine's senior debt - report
A group of hedge fund investors has reportedly purchased about A$130 million ($133 million) worth of senior debt in CVC Asia Pacific-owned Nine Entertainment from BNP Paribas and Commonwealth Bank of Australia (CBA).
Advent makes first close of Advent 6 fund
Australia and New Zealand-focused Advent Private Capital has held the first close of its Advent 6 fund, and has confirmed commitments of nearly A$100 million ($102.3 million).
PEP raises bid for Spotless
Pacific Equity Partners has upped its takeover bid for Australian cleaning services firm Spotless to A$711 million ($727.7 million) from A$700 million, in an attempt at coaxing the company that has twice rejected its private equity suitors.
IPO of the Year – Yonghui Superstores
William Shen, Head of Greater China for Headland Capital Partners, speaks to AVCJ about working on Asia’s most exciting IPO of the year.
VC Professional of the Year – Sandeep Singhal
Sandeep Singhal, co-founder of Nexus Venture Partners, discusses job satisfaction, the secrets of his venture firm’s success and the outlook for India’s early-stage sector.