Australasia
Australia's portfolio disclosure rule pushed back again
The Australian government has once again deferred introduction of portfolio holdings disclosure legislation that could require domestic LPs to reveal the identity and investments of each PE and VC fund they back.
Australia mezzanine: Compromise solution
The rise of holdco PIK debt has created Australia-based financing structures in which senior lenders and mezzanine providers can coexist. They also offer GPs greater flexibility at what is, for now, an acceptable price
Morning Crest leads $5.1m round for Australia's Airtasker
China's Morning Crest Capital has led a A$6.5 million ($5.1 million) investment in Australian local services marketplace Airtasker.
Australian web design start-up Canva raises $6m
Canva, an Australian platform that allows amateur designers to create web graphics using drag-and-drop tools, has raised $6 million in a fresh round of funding led by existing investors Matrix Partners and Shasta Ventures.
Bain-owned MYOB raises $652m in Australia IPO
Bain Capital-owned accounting software developer MYOB has raised A$833.1 million ($652 million) in its IPO, the largest private equity-backed offering in Australia since Healthscope in July of last year.
Denham platform Auctus offers to buy Australia’s Mungana
Auctus Minerals, an Australian mining platform set up by Denham Capital, has submitted a takeover bid for listed miner Mungana Goldmines. It values the business at A$32.5 million ($26 million).
Fund focus: Brandon secures super fund support
With A$78 billion ($61 billion) in assets, AustralianSuper is said to struggle to make fund commitments of less than A$150 million. Yet it is one of several superannuation funds backing Brandon Capital’s latest life sciences VC vehicle, which has closed...
Riverside adds to Australia e-learning platform
The Riverside Company has acquired C-Learning, an Australia-based developer of online education courses, to complement its existing education asset in the country, Learning Seat.
Australia’s CHAMP PE hires ex-CVC executive
Australian GP CHAMP Private Equity has hired Graham Brooke, a former executive with CVC Capital Partners, as a managing director based in Sydney.
Ironbridge-owned Eclipx gains on Australia debut after $195m IPO
Australian vehicle financing and management service Eclipx, which is owned by Ironbridge Capital Partners and GIC Private, saw its stock jump 21% on debut following a A$253 million ($153 million) IPO.
CHAMP, Yorkway to buy Australian quantity surveyor
CHAMP Ventures and Yorkway Equity Partners are set to buy a majority stake in Australian quantity surveying company BMT Tax Depreciation in a deal that values the business at around A$65 million ($50.3 million).
Leveraged finance: Coming to America?
It has become increasingly costly for private equity firms to access borrower-friendly US financing for leveraged buyouts in Asia. The US markets are fickle and volatile, but Asian banks are also stepping up
Brandon raises $154m for Australia life sciences fund
Australian life sciences-focused VC firm Brandon Capital has reached a A$200 million ($154 million) final close on its latest vehicle - the Medical Research Commercialisation Fund 3 (MRCF 3).
Affinity to buy Nine's Australia events business for $496m
Affinity Equity Partners has agreed to buy Australia-based Nine Entertainment’s live events and ticketing business for an enterprise valuation of A$640 million ($496 million).
L Capital faces legal action over Jones the Grocer
L Capital Asia is being sued in Singapore's high court over its decision appoint administrators to gourmet food retailer Jones the Grocer by the company's former CEO John Manos.
PE agrees $2.1b Australia energy carve-out
In the past 18 months, Apache has sold off more than $11 billion worth of assets, ranging from oil and gas interests in the Gulf of Mexico, Egypt and Argentina to liquefied natural gas projects in Canada and Australia. To this can be added the company’s...
Macquarie, Brookfield to buy Apache’s Australia energy unit
US-based oil and gas exploration and production company Apache has agreed to sell its Australia business to Macquarie Capital and Brookfield Asset Management for $2.1 billion in cash.
Australia's Bradken rejects new buyout offer from PEP, Koch
Australian mining industry supplier Bradken has rebuffed another takeover bid by Pacific Equity Partners (PEP), this time acting in tandem with Koch Industries.
Bain-owned MYOB targets $638m in Australia IPO
MYOB, an Australian accounting software developer owned by Bain Capital, is seeking to raise up to A$833.8 million ($635.5 million) through an IPO on the Sydney bourse. The PE firm will not sell any shares in the offering.
Catapult steers through new waters
When employees at Australian Reef Pilots (ARP), which provides pilotage services through the Great Barrier Reef and Torres Straits, wanted to engineer a management buyout (MBO), they found help from a newcomer to the private equity industry: Catapult...
Allegro Funds buys Australia's Great Southern Rail
Allegro Funds has agreed to buy a 100% stake in Australian railway company Great Southern Rail (GSR) from its UK parent Serco.
L Capital-backed 2XU targets IPO in Australia or US
Australian sports apparel brand 2XU - which is 40%-owned by L Capital Asia, a PE firm backed by luxury goods conglomerate LVMH - is looking to go public in either Australia or New York with an IPO that could value the business north of A$600 million ($468...
Australia revises employee share scheme law
The Australian government has given start-ups a boost with the much-anticipated introduction of a bill that means employees can defer paying tax on share options until they are actually converted into shares.
Catapult Partners backs Australian Reef Pilots MBO
Catapult Partners has invested in Australian Reef Pilots (ARP) in support of a management buyout (MBO) of the company.