Australasia
Macquarie buys Asia data center player Airtrunk
Macquarie Infrastructure & Real Assets (MIRA) is leading a consortium to acquire an 88% stake in Asia-focused data center player AirTrunk at a valuation of A$3 billion ($1.9 billion).
TDM leads $35m round for Australia’s SafetyCulture
Australia’s TDM Growth Partners has led a A$60 million ($35 million) Series C round for SafetyCulture, a locally-based software provider for safety compliance inspectors.
Roc Partners hits $120m third close on fourth Asia fund
Australia-based private equity firm Roc Partners has reached a third close of $120.1 million for its fourth Asia Pacific fund-of-funds.
Hostplus backs $19m Series B for Australia's Myriota
Hostplus, an Australian superannuation fund known for its VC activity, has backed a $19.3 million Series B round for local space technology start-up Myriota.
BGH, OTPP pull out of New Zealand dentistry deal
BGH Capital and Ontario Teachers’ Pension Plan (OTPP) have scrapped plans to acquire New Zealand dentistry chain Abano Healthcare citing material changes caused by COVID-19.
Australia’s Carnegie exits Assetic in PE-backed bolt-on
Australian VC investor MH Carnegie has exited asset management software specialist Assetic to Dude Solutions, a similar private equity-owned company in the US.
Coronavirus & leverage: Room to maneuver?
Economic disruption caused by the coronavirus outbreak is likely to leave many private equity portfolio companies in breach of their leverage covenants. Borrowers and lenders are looking for a fix
Australia's PE-owned Tigerlily enters administration
Tigerlily, an Australian swimwear brand acquired by Crescent Capital Partners in 2017, has entered administration following a collapse in sales attributed to the COVID-19 outbreak.
Village Roadshow suitors continue work despite coronavirus disruption
Pacific Equity Partners (PEP) and BGH Capital are continuing their due diligence on Australian cinema and theme park operator Village Roadshow despite the company experiencing difficulties due to coronavirus outbreak.
Australian LPs and co-investment: Willing partners
The difficulties NZ Super encountered with its now-defunct global direct investment unit offer pointers for Australian LPs looking at how to resource and structure co-investment programs
LP interview: New Zealand's ACC
Accident Compensation Corporation is the biggest fish in Asia Pacific’s smallest pond. As a result, even a modest splash into private equity has created some noticeable waves
Partners Group rebuffed in pursuit of Australia's Healius
Australian healthcare services provider Healius has rejected a A$2.1 billion ($1.4 billion) buyout offer from Partners Group, saying it doesn’t reflect the fundamental value of the company.
Coronavirus & fundraising: Caught in a bind
The coronavirus outbreak has implications for PE fundraising well beyond China. Many Asia-based managers are either unable to go and see LPs or LPs are not permitted to visit them
PEP's secure assets fund to buy Australia-listed Zenith Energy
Pacific Equity Partners (PEP) has agreed to acquire 100% of Australia-listed off-grid power company Zenith Energy in deal that values the company at A$250 million ($163 million).
Deep GP-LP relationships not defined by co-underwriting - AVCJ Forum
Institutional investors in Australia and New Zealand are looking to establish deeper relationships with portfolio GPs – and while co-investment is part of the dynamic, it doesn’t necessarily stretch to co-underwriting.
Trade buyer comes in for VC-backed Australian fintech player
Greensill, a UK-based enterprise financier with a global operations base, has acquired Australian VC-backed financial technology company Earnd.
Macro factors not slowing private debt in Australia - AVCJ Forum
Leveraged lenders focusing on Australia and New Zealand continue to see strong demand from financial sponsors, with the impact of global macroeconomic volatility likely to be delayed and perhaps muted.
ESG-related deals must be judged on commercial merits – AVCJ Forum
Institutional investors in Australia have reaffirmed their commitment to environment, social and governance (ESG) protocols – but as a factor within the decision-making process, not its sole driver.
TPG makes partial exit from Australia's Inghams
TPG Capital has generated proceeds of approximately A$66.9 million ($44.3 million) through a partial exit from Australian poultry producer Inghams Group, paring its stake to below 10%.
Australia fintech player InDebted raises $9m Series A
Carthona Capital and MassMutual Ventures have led a A$14 million ($9.2 million) Series A round for Australian financial technology provider InDebted.
Anacacia invests Australian workforce services player
Anacacia Capital has confirmed a “significant” investment in Australian workforce services provider Sureway Employment & Training.
Australia's Business Growth Fund: Policy props
The Australian government has accumulated $365 million for a fund that will support small businesses. Private equity investors are unsure why it’s necessary and how it will be managed
Australia IPOs: Suspicious minds
A handful of bad experiences have made Australia’s public market investors wary of private equity-backed IPOs. This doesn’t mean offerings can’t get done, but the industry must address its profile problem
Marcus Simpson leaves Australia's QIC to pursue advisory work
Marcus Simpson (pictured) plans to take on independent advisory roles – working with institutional investors that want to build or rebuild private equity programs and with companies looking at taking on private capital – having stepped down as head...
