Australasia
Australia's BGH backs online travel agent
BGH Capital has invested an undisclosed sum in TripADeal, an online travel agent that caters to the Australia and New Zealand markets.
PEP to buy Australian software player for $367m
Australia’s Pacific Equity Partners (PEP) has agreed to acquire 100% of Sydney-listed enterprise software and IT services provider Citadel for A$503 million ($367.5 million).
Infrastructure: Patient capital
Australia's IFM Investors has a plan to get long-term equity partners more involved in public-private partnerships. It means persuading superannuation funds to up their risk appetite
Navis sells Australia education business to PEP
Navis Capital Partners has sold Australian educational resources provider Modern Star to local private equity firm Pacific Equity Partners (PEP) at an enterprise valuation of about A$600 million ($433 million).
Australia's Blackbird launches New Zealand fund
Australia’s Blackbird Ventures has launched a NZ$60 million ($40 million) New Zealand-dedicated fund with a cornerstone investment of NZ$21.5 million from the government.
Australia's Future Fund posts negative return, sells part of PE portfolio
Future Fund has posted its first yearly negative return since the global financial crisis, amid economic chaos caused by COVID-19, and rebalanced its private equity portfolio as part of efforts to avoid “excessive risk.”
Fund focus: Remote diligence underpins Adamantem's first close
Australia's Adamantem Capital launched its second fund shortly before COVID-19 began to escalate, but the first close still features sizeable commitments from new investors that were unable to perform due diligence in-person
Australia's IOOF to buy NAB wealth management arm
Australian financial advisory, investment management and superannuation provider IOOF Holdings has agreed to acquire MLC, the wealth management arm of National Australia Bank (NAB), for A$1.44 billon ($1.03 billion).
BGH, OTPP reengage with New Zealand's Abano
BGH Capital and Ontario Teachers’ Pension Plan (OTPP), which recently terminated an acquisition of New Zealand dentistry chain Abano, have renewed their bid at a lower price.
Uncertainty deters distress investors - M&A Forum
Distress-focused investors warned that persistent economic uncertainty is making it difficult to act on opportunities even as companies run into trouble because of the coronavirus pandemic.
Australia's Buildkite hits $144m valuation with Series A
US-based VCs General Catalyst and OpenView have provided A$28 million ($20 million) in Series A funding to Australian enterprise software player Buildkite at a valuation of about $144 million.
Direct Capital, ACC back New Zealand logistics player
New Zealand PE firm Direct Capital and the government’s Accident Compensation Corporation (ACC) have taken a combined 50% stake in local logistics operator Mondiale for an undisclosed sum.
Start-up profiles: Sustainability agendas
Early-stage innovators across the region are leveraging both enterprise and consumer-facing models to address sustainability challenges with one eye on rapid commercialization
Quadrant acquires Australia phone mount business
Australia’s Quadrant Private Equity has acquired a controlling stake in Quad Lock, a local smart phone accessories maker focused on device mounts for bikes and cars.
Australia's Blackbird raises $357m for fourth fund
Australia’s Blackbird Ventures has raised A$500 million ($357 million) for its fourth fund and named Atlassian co-founder Mike Cannon-Brookes as chairman.
Australia's PEP closes Fund VI at $1.8b
Pacific Equity Partners (PEP) has reached a final close on its sixth Australia and New Zealand-focused buyout fund at the hard cap of A$2.5 billion ($1.8 billion).
BGH to buy Australia's Village Roadshow for $543m
BGH Capital has agreed to acquire Australian cinema and theme park operator Village Roadshow for A$758 million ($543 million).
GPs & climate change risk: Material matters
Climate change risk is becoming a broader debate within private equity, taking in the long-term impact of floods, droughts, and fires on portfolios. Most GPs have yet to turn thought into action
Fund focus: Tidal makes early-stage wave
With $21 million in dry powder, Tidal Ventures wants to bring institutional rigor to Australia's seed stage, helping prepare start-ups for Series A rounds
Australia's OneVentures closes credit fund at $57m
OneVentures has reached a final close of A$80 million ($57 million) on a venture debt fund said to be the first and largest vehicle of its kind in Australia.
OMERS acquires 20% stake in Australia's TransGrid
Canada’s Ontario Municipal Employees Retirement System (OMERS) has bought a 20% stake in Australian electricity network operator TransGrid for an undisclosed sum.
Blackbird joins $18m round for Australia's Propeller
Blackbird Ventures has joined a A$26 million ($18.3 million) round for Propeller Aero, an Australian data analytics provider focused on drone surveying at industrial worksites.
Australia: Retail realities
Not all bankruptcies can be blamed solely on COVID-19; neither is private equity ownership necessarily bad news for retailers. As recent experiences in Australia demonstrate, evolution and execution are key
2Q analysis: Numbers that deceive
Asia has seen remarkable revivals in private equity investment and fundraising – though not in exits – over the past three months. A handful of large-cap situations mask a weak environment