Australasia
Australia’s Ironbridge drops staple from LP secondary exit deal
Ironbridge Capital has dropped its proposed stapled secondary transaction that would have allowed investors to exit or rollover their positions into a new vehicle with the option of making a commitment to a new primary fund. AVCJ understands the deal...
Kerogen enters PNG LNG space
Seven years after ExxonMobil began its feasibility study on commercializing gas resources in Papua New Guinea (PNG) through liquefied natural gas (LNG), the PNG LNG Project is poised to start delivering on its promise.
Macquarie to sell PE funds management unit - update
Michael Lukin, managing director at Macquarie Investment Management Private Markets, has confirmed that management will spin-out the unit from parent company Macquarie Group.
Kerogen makes Asia oil and gas play, eyes Fund II
Kerogen Capital has invested A$30 million ($27 million) in Twinza Oil, which has oil and gas interests in Australia, Papua New Guinea and Thailand. The energy-focused GP is also said to be preparing to launch its next fund later in the year.
TPG eyes quick return from Inghams property sale
TPG Capital is planning to sell a portfolio of real estate assets held by Inghams Enterprises that could more than cover the equity commitment it made when buying the Australian poultry producer last year.
Australia's CHAMP PE seeks London listing for Shelf Drilling
Shelf Drilling, a shallow water drilling services company set up by Australia’s CHAMP Private Equity in conjunction with its US affiliate Castle Harlan and Lime Rock Partners, plans to list on the London Stock Exchange in May.
Blackbird set for $22m close on Australia VC fund
Australian VC firm Blackbird Ventures will reach a final close on its debut fund by the end of April with around A$25 million ($22.7 million) in capital commitments. There will be approximately 90 LPs, predominantly the founders of Australian tech start-ups...
Australian LPs still struggling with co-investment - AVCJ Forum
Australian LPs are increasingly keen on direct investment for the most part alongside portfolio GPs but not all groups are able to build and retain the resources required to participate effectively.
KKR expands energy & infrastructure team into Asia
KKR has further bolstered its energy and infrastructure presence in Asia, appointing Tony Schultz as managing director in Sydney and relocating Ash Upadhyaya -a director with KKR's energy and infrastructure team in the US - to Singapore.
Australian super funds warn of regulatory impact on PE - AVCJ Forum
Australian superannuation funds that are not facing imminent payout deadlines remain committed to private equity, although managers say the more complex regulatory environment can hinder their approach to the asset class.
A story that sells
One of the observation's made in last week's Australia-themed viewpoint was that private equity fundraising tanked in 2013, although there was a caveat.
QIC PE unit invests in Australian building contractor
Australia’s QIC has bought a minority stake in Queensland-based Ostwald Construction Materials (OCM), the quarry and concrete solutions arm of Ostwald Bros. QIC acted through its private equity unit.
Beijing Capital Group beats Carlyle to TPI’s New Zealand business
Beijing Capital Group, a Chinese state-owned enterprise principally involved in infrastructure, has outmuscled bidders including The Carlyle Group to buy Transpacific Industries Group’s (TPI) New Zealand waste management business for NZ$950 million...
Australia’s Quadrant in $758m quick-fire fundraise
Australian GP Quadrant Private Equity has closed its seventh fund at A$850 million ($758 million) after just over one month in the market. The vehicle was two times oversubscribed with interest from both domestic and offshore investors.
Carlyle vies with local, Chinese bidders for Transpacific NZ - report
The Carlyle Group is expected to face competition for Transpacific Industries Group's New Zealand waste management unit from a competing bid from a local consortium involving two Maori tribes.
Australia's CHAMP PE names John Haddock CEO
CHAMP Private Equity has appointed John Haddock as its first CEO. He will assume responsibility for the Australian GP’s investment program together with day-to-day management of the firm, while continuing the deal origination and portfolio management...
PE-invested mining services provider enters administration
The Anywhere Group (TAG), an Australian provider of temporary accommodation for the mining sector, has gone into administration owing Singapore-based PE firm Crest Capital Asia A$9.5 million ($8.4 million).
Q&A: HarbourVest's Sebastiaan van den Berg
Sebastiaan van den Berg, managing director and head of Asia at HarbourVest Partners, discusses his expectations for Australian deal flow, best practice for IPO exits, and co-investment opportunities
Australia buyouts: Patience is a virtue
Due to a combination of factors, not least the revival in Australia’s public markets, mid-market private equity deal flow was slower in 2013 than previous years. GPs are waiting for conditions to become more opportune
The IT crowd: Australia embraces crowdfunding
Australia has embraced crowdfunding as a supplement to an early-stage traditional VC market that has yet to regain its former strength. Industry participants are seeking differentiation and deregulation
Australia distress: Sifting the strain
The low-hanging fruit created by the post-global financial crisis troubles of highly-leveraged Australian companies has mostly been picked. Distress investors are looking in smaller and less obvious places
Australian pension funds: Indecent disclosure?
The Australian government is expected to halt and wind back superannuation fund disclosure requirements that go beyond global norms. Industry participants are hopeful for the best, but mindful of the worst
Q&A: HESTA's Andrew Major & QIC's Marcus Simpson
Andrew Major, general manager for investments at HESTA and Marcus Simpson, head of global private equity at QIC, share their views on PE performance and where the best investment opportunities lie
That was then, this is now
From 2006 or thereabouts, Australia suddenly became the destination in Asia for GPs focused on leveraged buyout deals. In the space of 12 months, private equity investment in the country jumped from $2.5 billion to more than $16 billion.