Australasia
KKR backs Australia environment services player
KKR has made an investment of undisclosed size in GreenCollar, an environmental services provider that helped establish Australia’s carbon credit market.
Large-cap vehicles support PE fundraising revival in second quarter
Asia private equity fundraising rebounded from a seven-year low in the first quarter of the year to reach $24 billion for April through June, but commitments were concentrated on a handful of managers.
Deal focus: Cortina goes natural for debut Australia deal
Cross-border PE investor Cortina Capital has backed Australian nutritional supplements producer ATP Science with an eye to China expansion. But establishing brand recognition at home is the first step
EQT revises offer for New Zealand's Metlifecare
EQT has submitted a revised offer to acquire New Zealand retirement village player Metlifecare at a lower valuation after facing a legal challenge over its attempt to terminate a previously agreed deal.
Deal focus: Soil Carbon's nascent climate fix
Australian start-up Soil Carbon is developing microbial technology that can be used to limit carbon emissions from crops. Horizons Ventures has provided financial support for the project
Medical devices: Proceed with caution
Medical devices has become a difficult place to invest but potentially all the more rewarding for those willing to take the plunge. Asia is in a prime position globally
PE-owned Australian swimwear brand enters administration
Seafolly, an Australian swimwear and beachwear brand owned by L Catterton Asia, has entered administration, citing the “crippling financial impact” of the COVID-19 pandemic.
Australia cleantech start-up secures $7m
Horizons Ventures – a VC firm controlled by Hong Kong billionaire Li Ka-shing – has joined a A$10 million ($7 million) round for an Australian start-up specializing in fungi-based carbon capture technology.
Bain to buy Virgin Australia
Bain Capital has entered into an agreement to acquire and recapitalize beleaguered airline Virgin Australia Holdings (VAH).
Australia's Canva raises $60m at $6b valuation
Canva, an Australian graphic design platform, has raised $60 million in VC funding, almost doubling its valuation to $6 billion. It attributed the growth to a shift online amid COVID-19.
Five V buys New Zealand software developer
Australian private equity firm Five V Capital has acquired a controlling stake in New Zealand employee management software provider Totara for an undisclosed sum.
Mercury buys Bauer Media's Australia, New Zealand assets
Sydney-based private equity firm Mercury Capital has agreed to acquire the Australia and New Zealand assets of Germany’s Bauer Media, including an extensive magazine portfolio.
Australia's Square Peg raises $240m for third VC fund
Australian VC firm Square Peg Capital has received initial commitments of A$350 million ($240 million) for its third fund from investors including Hostplus and AustralianSuper.
Foreign investment restrictions: Looking inward
China is the implied threat as governments look to protect vulnerable domestic companies from foreign corporate raiders. On balance, PE investors are unlikely to benefit from moves towards de-globalization
BGH buys health centers from Australia's Healius for $341m
BGH Capital has agreed to acquire the primary care business of Australia’s Healius – comprising medical centers, GP practices, and dental clinics – for an enterprise valuation of A$500 million ($341 million).
Portfolio: Anacacia Capital and Duncan Solutions
Following its investment in Duncan Solutions in 2018, Anacacia Capital is helping the parking management systems provider tap into demand arising from Australia’s smart city movement
Coronavirus & due diligence: Split screen
Finding the right balance between offline and online communication for completing due diligence processes is a tricky endeavor for PE and VC investment professionals in Asia
OPTrust joins consortium bidding for Australia's Zenith Energy
Canadian pension fund OPTrust has joined Pacific Equity Partners in the consortium looking to buy Australia-listed off-grid power provider Zenith Energy for an enterprise valuation of A$250 million ($163 million).
KKR recruits fundraiser for Australia, New Zealand
KKR has hired Nicholas Hyde from IFM Investors as a managing director in its client partner group, with responsibility for fundraising and client relationships in Australia and New Zealand.
IAG invests in Australia agtech player
Insurance Australia Group (IAG) has made an investment of undisclosed size in local start-up Digital Agriculture Services (DAS) via its VC unit Firemark Ventures.
Bain confirms pursuit of Virgin Australia
Bain Capital is in the second round of bidding for Virgin Australia Holdings (VAH) and has pledged to give the beleaguered airline “a sustainable, long-term future.”
EQT faces legal action after scrapping NZ aged care deal
New Zealand retirement village operator Metlifecare has filed legal action aimed at forcing EQT Partners to fulfill an acquisition that it decided to terminate due to COVID-19.
Australia workforce training start-up Go1 gets $40m
Australian workforce training services start-up Go1 has raised a $40 million Series C round led by local strategic Seek and US-based Madrona Venture Group.
Deal focus: KKR's Colonial First State breakthrough
Divestments of non-core assets by Australia's big four banks are keenly tracked by strategic players and financial sponsors. KKR's investment in Colonial First State represents the first PE deal of this nature