Australasia
Australia's Future Fund ups PE allocation to 9.5%
Australia’s Future Fund increased its private equity allocation from 7.7% to 9.5% over the course of 2014 as total assets under management reached A$109 billion ($85 billion). The return for the 12 months ended December was 13.2%.
CPPIB, QIC back $2.3b Sydney infrastructure project
Canada Pension Plan Investment Board (CPPIB) and Queensland Investment Corporation (QIC) are part of a consortium alongside toll road operator Transurban Group that is backing Sydney’s A$2.9 billion ($2.3 billion) NorthConnex tunnel project.
Australia's DesignCrowd wins backing from AirTree Ventures
DesignCrowd, an Australia-based crowdsourcing platform used to source designs from hundreds of freelance designers, has received A$6 million ($4.6 million) in a Series B funding round led by AirTree Ventures.
Q&A: Denham Capital's Bert Koth
For resources-focused GP Denham Capital, the commodities downturn has thrown up some interesting opportunities. Bert Koth, the firm’s Perth-based managing director, explains why his eye is now on Asia
Australia's EMR Capital raises $450m for mining fund
Australian resources-focused private equity firm EMR Capital has reached a final close of $450 million on its specialist mining fund, beating the $400 million target.
PE buyout talks with Australia's Bradken fall through
Pacific Equity Partners (PEP) and Bain Capital have pulled their take-over bid for Australian mining industry supplier Bradken due to volatility in the commodities market.
Deal focus: Macro headwinds weigh on Peoplebank exit
Not every investment works out as planned - often for reasons beyond the investor's control. Navis Capital Partners recently sold Australia-based IT and specialist recruiting firm Peoplebank to Japan's Recruit Holdings for A$68.6 million ($56.6 million)....
Australian medical research fund backs antibody start-up
Solvanix, an Australian early-stage biotech company that has developed a technology for improving drug stability, has received A$2 million ($1.6 million) in seed funding from the Medical Research Commercialization Fund (MRCF).
Navis exits Australia's Peoplebank to Recruit Holdings
Navis Capital Partners has sold Australia-based IT and specialist recruiting firm Peoplebank to Japan’s Recruit Holdings for A$68.6 million ($56.6 million).
NZ Super, Infratil target aged care integration
Morrison & Co, an investment manager of New Zealand-listed infrastructure fund Infratil, has been looking into Australian retirement village space for a while. In early 2014, it approached RetireAustralia, the country’s fourth-largest player, as a potential...
Australian cancer drug developer raises $10m Series B round
Australian biopharmaceutical start-up EnGeneIC has received $10 million in a Series B round of funding led by Boston-based healthcare specialist GRT Capital Partners.
CVC returns $2b to investors from Asia deals in 2014
CVC Capital Partners returned $2 billion to investors from Asia-based investments in 2014 after completing three full or partial exits – which contributed $1 billion of the proceeds – in December.
TPG, PAG consortium merges DTZ with Cassidy Turley
TPG Capital, PAG Asia Capital and their co-investor Ontario Teachers’ Pension Plan (OTPP) have followed up their acquisition of DTZ, the property services arm of Australia-listed UGL, with the purchase of US-based Cassidy Turley.
NZ Super, Infratil agree buy RetireAustralia for $521m
New Zealand Superannuation Fund (NZ Super) and infrastructure investor Infratil have bought retirement village operator RetireAustralia for A$640.2 million ($521 million) from J.P. Morgan Special Opportunities Group and Morgan Stanley Real Estate.
PEP exits Australian cinema chain Hoyts to Chinese buyer
Pacific Equity Partners (PEP) has exited Australian cinema operator Hoyts Group to an investment vehicle set up by Xishuang Sun, chairman of Chinese property developer Dalian Yifang.
PE investors sell Pacnet to Australia's Telstra for $697m
Clearwater Capital Partners, Spinnaker Capital Group and Ashmore Investment Management have agreed to exit undersea cable provider Pacnet to Australia’s Telstra Corp. for approximately $697 million, including $400 million in debt.
Apollo agrees partnership with Australia's Leighton Holdings
Apollo Global Management has agreed to buy half of Leighton Holdings’ maintenance services business, generating cash proceeds of around A$700 million ($573 million) for the Australian construction company.
L Capital-owned Jones the Grocer enters administration in Australia
The Australian operation of Jones the Grocer, a gourmet food retailer majority-owned by L Capital Asia, has gone into administration but is expected to stay open while undergoing a restructuring.
NAB sells additional $1.9b in UK property loans to Cerberus
National Australia Bank (NAB) is selling another GBP1.2 billion ($1.9 billion) parcel of distressed UK real estate loans to New York private equity firm Cerberus Capital Management.
Australia's Bradken opens books to PE suitors
Australian mining industry supplier Bradken has agreed to open its books to Pacific Equity Partners (PEP) and Bain Capital following the private equity firms’ offer to buy the company.
AVCJ Awards: Fundraising of the Year - Mid Cap: Quadrant Private Equity
Quadrant Private Equity raised its seventh fund in record time, resisting pressure from LPs to enlarge the corpus. The Australian GP remains resolutely middle market
KKR backs desert-farming solution
Tough climatic challenges are in store for South Australia, already the nation's driest state. Agriculture, which is worth more than $5 billion each year to the state, will increasingly be affected by rising temperatures and reduced rainfall.
VC-backed LanzaTech raises $60m from NZ Super
The New Zealand Superannuation Fund has provided $60 million growth capital for low-carbon fuels producer LanzaTech.
Australia's Crescent Capital closes Fund V at $565m
Crescent Capital Partners has reached a final close on its fifth Australia and New Zealand-focused fund at the hard cap of A$675 million ($565 million) after only 10 weeks in the market.