Australasia
Barrick Gold makes winning bid for Equinox
GOLD AND COPPER ARE NOT infrequently entwined in an ore body. So not surprisingly, some gold miners spin off secondary copper production as a by-product.
Carlyle and Macquarie bid for Redflex stopped short
Three months after The Carlyle Group and Macquarie Group made inroads to acquire Australian traffic light and road safety firm Redflex Traffic Systems, offering approximately A$300 million ($302 million) - a 21% premium - for the asset, a key company...
Australian cleaning company rejects private equity bid
Spotless Group, a ASX-listed Melbourne-based cleaning services company, has rejected a conditional $700 million bid from a private equity firm, Blackstone, reported by Reuters.
KKR strengthens ties to Oz recycling company
Kohlberg Kravis Roberts (KKR) has invested approximately A$90 million in Australia Stock Exchange-listed recycling group CMA Corporation, prompting CMA to voluntarily suspend trading.
Dutchess Capital injects $16.3m in Motopia in Australia
The US-based Dutchess Capital Management, a fund manager specializing on short-term and growth-stage public companies that fall under the ‘special situation’ category, will invest up to A$15 million ($16.3 million) in Motopia Limited, taking a 19.99%...
New Zealand's Direct Capital takes majority stake of Scales Corp.
Auckland-based private equity firm Direct Capital will take a 79.7% stake in local apple exporter and cold storage company Scales Corporation for $44 million, purchasing the asset from South Canterbury Finance, which has been under the receivership since...
Accel Partners, angel investors invest $35m in designer start
Private equity firm Accel Partners, with a group of angel investors, has made a$35 million capital injection into 99designs, an Australian start-up design company, as a Series A round of financing.
Blackstone set to buy second distressed Oz property firm
Debt-burdened Australian real estate firm Valad Property Group is reportedly in talks with Blackstone for a possible buyout, according to The Australian, in a deal that could be worth A$220 million.
Victoria stops investing in PE
Victoria Funds Management Corporation, which manages funds for the State of Victoria, Australia, has announced that it will stop investing into private equity and will, instead, focus on infrastructure investing. The once-prominent limited partner, which...
CVC's I-Med faces debt restructure
CVC Asia Pacific is reportedly set to present a restructuring plan to senior lenders of Sydney-based diagnostic imaging firm I-Med in an effort to find respite from its A$890 million worth of debt owed.
VIDEO: Venture in Oz
AVCAL's Katherine Woodthorpe and CHAMP Private Equity's Bill Ferris explain to AVCJ TV why venture investing in Australia appeals, and why the industry on a whole still lags behind other PE investment avenues.
VIDEO: How Australian PE is unique
While each of Asia Pacific's markets has their own unique private equity hallmarks, Australia' industry is notable for its maturity, proximity to Asia's larger sector and for its straight-talking professionals.
Second Oz retailer heads into receivership
Australian clothing and footwear retailer Colorado Group, controlled by Affinity Equity Partners, has been taken into receivership, marking the second Australian big-name PE-backed brand, after Pacific Equity Partners’ REDgroup Retail, to go down the...
AMP raises $342m for global debt fund
Australian infrastructure investment manager AMP Capital Investors has raised €241 million ($342.8 million) for an infra debt fund, which has made its first investment in a British company that leases passenger trains and freight locomotives. China Life...
US firm launches Australasia-focused real estate fund
LA-based Jumpstart Capital Partners is to launch a PE real-estate focused unit that will initially target distressed and undervalued property-related investments in Australia and New Zealand.
Affinity-backed group also heads into receivership
One week after news surfaced that Australian clothing retailer Colorado Group neared the deadline to repay its banking covenants, the Affinity Equity Partners-backed asset has now gone into administration, reportedly owing its lenders A$405 million ($418...
VIDEO: PE experts discuss challenges in Oz
While Australia’s economic landscape has increasingly improved as the affects of the global financial crisis fade, some of the private equity and venture capital industry’s experts discuss the ongoing challenges they still face in Oz.
VIDEO: AVCAL's Katherine Woodthorpe
In light of ongoing changes to Australia’s shifting taxation landscape related to private equity and venture capital, Katherine Woodthorpe, CEO of AVCAL, updates AVCJ on the progress the industry is making in its dealings with the government, and the...
The Australian visionary
The Executive Chairman of CHAMP talks about why a focus on fees is short-sighted, why a return to traditional benchmarking is needed, and why the future of venture capital is bright
Archer tops up dairy acquisitions
Private equity buyout firm Archer Capital, which owns a majority stake in DairyWest, has acquired West N Fresh Premium yoghurt business from Lee and Paul Hayes. The company will become a wholly owned subsidiary of Brownes, which DairyWest also acquired...
Affinity portfolio co. faces administration
Affinity Equity Partners’ Australian clothing retailer Colorado Group is set to follow REDGroup into administration later this month, with its banking covenants on the verge of expiring.
Foster's to decide on wine business' future
Australia’s Foster’s Group is to vote on the potential spin out of its multi-billion-dollar wine business in a move that may finally give private equity players a chance at the asset.
Alinta's shareholders approve TPG consortium's bid
The shareholders of distressed Australian power giant Alinta Energy have approved an acquisition offer by a TPG-led consortium to acquire the company and delist it from the ASX, despite many of these backers making a 90% loss on their original funding....
MIVCC sees both side of Oz VC
The Melbourne International Venture Capital Conference (MIVCC) held on March 8 as a joint venture between AVCJ and the Victoria government, brought together venture firms from across Australia, domestic LPs and government representatives to explore the...