Australasia
BlackRock hires head of Australia alternatives
BlackRock has hired Andrew Landman as its new head of alternatives in Australia.
CHAMP-backed Shelf Drilling completes $1b acquisition
Shelf Drilling, the Dubai-based shallow water drilling services company backed by Australia’s CHAMP Private Equity, its US affiliate Castle Harlan, and Lime Rock Partners, has completed the acquisition of assets worth $1.05 billion. The PE investment,...
New Zealand’s Xero raises $49m from Valar, Matrix
New Zealand-based online accounting software company Xero has raised NZ$60 million ($49 million) in new capital from US VC firms Valar Ventures and Matrix Capital Management. Valar is backed by Peter Thiel, best known for his early investments in PayPal...
Maine PERS commits $30m to Affinity’s fourth Asia fund
Affinity Equity Partners has secured a $30 million commitment for its fourth pan-Asia fund from the Maine Public Employees’ Retirement Systems (Maine PERS). It was one of four investments, each of the $30 million that the $11 billion pension plan announced...
Bain-owned MYOB to cut debt through notes offer
Accounting software firm MYOB plans to issue A$125 million ($131 million) in subordinated notes to pay down debt used to finance its acquisition by Bain Capital and also to return capital to the private equity investor. The notes will be issued on the...
Australia's Starfish Ventures invests in email company Atmail
Starfish Ventures has invested $2 million in Atmail, a Australia-based enterprise email and web communication company. The capital will help the Atmail scale-up its technical team and expand into overseas markets.
PEP separates Braiform from portfolio company Spotless
Australia’s Pacific Equity Partners (PEP) has carved out coat hanger manufacturer Braiform from Spotless Group, the cleaning and catering contractor it acquired earlier this year. The company now reports directly to PEP.
Anacacia seeks Aussie SME buyouts
With the established participants in Australia’s lower mid-market having graduated to fund sizes of A$250 million or more as they progressed through the cycles, and many smaller players struggling to raise money, Anacacia Capital finds itself in less...
Australia's PageUp People gets $10m from Accel-KKR
Accel-KKR, a Silicon Valley-based PE firm, has invested $10 million for an undisclosed stake in PageUp People, an Australian firm that provides software for tracking worker performance.
Pension plans unsure about VC commitments
North American pension plans are exhibiting mixed feelings towards venture capital funds – some find GPs that were once refused to take meetings are now opening up to a wider range of investors while others are backing off from the asset class, blaming...
Australia’s Anacacia reaches $129m second close
Australian GP Anacacia Capital has arrived at a second close of A$125 million ($129 million) for its second fund. The private equity firm has already exceeded its target of A$100 million and is on course to reach its hard cap of A$150 million.
Australia’s PEP targets $3.6b for Fund IV
Pacific Equity Partners (PEP) is targeting up to A$3.5 billion ($3.6 billion) for its fifth fund, including A$2 billion of core equity and a further $1-1.5 billion earmarked for a co-investment pool.
Billabong director explores buyout options
Billabong shares spiked 17% during Monday morning trading in response to the Australian surfwear company announcing that one of its directors was looking at a possible leveraged buyout. TPG Capital and Bain Capital both submitted bids of A$694 million...
Carlyle, Seven Group plan Coates Hire sale
The Carlyle Group and Australia's Seven Group are planning to sell their stakes in Australian equipment rental company Coates Hire. The news comes after the pair failed to proceed with an A$800 million ($831 million) IPO of the company earlier this year.
LPs wary about raising Asia PE allocations above 10% - AVCJ Forum
Institutional investors are generally happy to deploy 10% of their private equity allocation in Asia, but they say it is difficult to justify increasing this portion until risk factors ease and local managers build up stable teams and more substantive...
Investors give prognosis for healthcare investment in Asia - AVCJ Forum
Despite regulatory hurdles and a waning IPO market, the healthcare care sector is an increasingly attractive area of investment for venture capitalists.
AVCJ at 25: Turning points
To mark the 25th anniversary of Asian Venture Capital Journal, we highlight five key phases in the development of asset class in Asia and talk to the individuals involved. Two of the phases are births – of a sort – and the other three are crises,...
Castle Harlan bid-rigging case goes before Australian court
A deal involving a Canadian mining services company that was bought and sold by US private equity firm Castle Harlan on the same day has gone before an Australian court.
KKR, Allegro pick up Australasian loan portfolio from BOS
KKR’s special situations business has teamed up with Australia’s Allegro Funds to acquire a portfolio of commercial loans from BOS International. The sale came after Lloyds International, BOS’ parent, conducted a review of its Australia and New...
PE & PR: Private equity’s public face
Private equity is more entrenched and better understood in some Asian markets than others. What do the various stakeholders - entrepreneurs, government, media, public - make of the asset class?
CHAMP-backed oOh!Media targets more acquisitions
Australia’s outdoor advertising industry looks set for further consolidation as CHAMP Private Equity said portfolio company oOh!media is still on the acquisition trail after agreeing to buy Ten Network’s Eye Corp.
Riverside acquires Australian e-learning provider
The Riverside Company has bought Australian e-learning firm Learning Seat, its 300th acquisition. The transaction is the first investment of the firm’s affiliated Riverside Asia-Pacific Fund II.
Denham Capital to open office in Perth
Energy-focused PE firm Denham Capital is to open an office in Perth, Australia, in February. Based in one of the world’s main hubs for mining activity, the new office will be led by Bert Koth, director of Denham’s metals and minerals team.
CHAMP PE sells off Blue Star’s Australian operation
CHAMP Private Equity is said to have exited the Australian arm of printing and communications company Blue Star Group to a consortium including Wolseley Private Equity and CaxtonWeb. Blue Star’s New Zealand operations area also expected to be sold off.