Australasia
Helmsman Capital seeks $211m for third fund
Helmsman Capital is currently seeking A$200 million ($211 million) for its third vehicle, Helmsman Capital Fund III.
Blue Sky boosts Alcidion with $2.8m - report
Listed fund manager Blue Sky Alternative Investments has funneled A$2.6 million ($2.8 million) of capital into Australian health informatics firm Alcidion.
NAB offloads debt in CVC-backed Nine Entertainment
National Australia Bank (NAB) has sold off its entire holding of debt in CVC-backed Nine Entertainment. The bank offloaded A$86 million ($90 million), with media reports quoting a price of A$0.85-087 on the dollar.
Subsea backs NZ mining project
Subsea Investments II, a private equity fund backed by US-based LPs, will invest up to $7 million for shares issued by NZAX-listed Chatham Rock Phosphate (CRP).
Australia Music Group gets private equity lifeline
Revere Capital has injected funding into Australia Music Group (AMG) as part of internal restructuring efforts. Like many retailers in Australia, the company is struggling during a period of poor consumer sentiment.
ASX chairman to lead Australia’s Future Fund
David Gonski will relinquish his role as chairman of the Australian Stock Exchange (ASX) to head up Future Fund, the country’s A$90 billion ($95 billion) sovereign wealth vehicle. He replaces David Murray, former CEO of Commonwealth Bank of Australia.
PEP wants investment partner for Link – report
Pacific Equity Partners (PEP) is reportedly looking to raise additional capital for portfolio company Link Group, which is valued at some A$1.4 billion ($1.48 billion).
CVC’s Mantra on the block
Private equity house CVC Asia Pacific has put its 40% stake in Australian accommodation provider Mantra Group up for auction.
NAB-backed WOW in receivership
WOW Sight & Sound, an Australian electronics and AV retailer backed by National Australia Bank Integrated Capital Solutions, has gone into receivership.
Columbia Capital invests $20m in Cloud Sherpas
US venture capital firm Columbia Capital has invested $20 million in Cloud Sherpas, a newly merged cloud computing solutions provider focused on Asia Pacific and the US.
Harvey Norman and Specialty Fashion top targets for PE – Citi
Australian retailers Harvey Norman and Specialty Fashion Group are strong targets for a private equity takeover, according to Citigroup.
Catalyst exits Aperio for $251 million
Catalyst Investment Managers has reached an agreement with Amcor to sell its stake in Aperio Group, Amcor’s largest rival in the Australian flexible packaging market, in a transaction worth A$238 million ($251 million).
Australia’s Elcano Capital hits the fundraising trail
Australian venture firm Elcano Capital is seeking to raise capital from small investment funds to finance its planned investments into early stage companies.
CVC plans to sell Nine ticketing arm
CVC Asia Pacific is seeking buyers for Nine Entertainment's ticketing arm in order to generate funds that will be used to restructure the media group’s A$2.7 billion ($2.9 billion) in senior debt, which is due for repayment next February.
Taiwan, New Zealand launch $169m venture fund
Taiwan’s National Development Fund (NDF) has agreed with New Zealand Venture Investment Fund (NZVIF) to establish a NT$5 billion (US$169.39 million) joint venture fund.
Osprey Medical plans to raise $20m in Australia listing
US-based Osprey Medical hopes to raise $20 million through a public listing in Australia next month. The medical device company submitted its prospectus to the stock exchange this week.
CHAMP gets court approval for oOh!media takeover
CHAMP Private Equity has won approval from the Federal Court of Australia for its A$163 million ($176 million) acquisition of outdoor advertising company oOh!media. The firm consequently ceased trading on the Australian Stock Exchange on March 1.
Shearwater's Stead becomes Australia head at Olympus Capital Asia
Gary Stead, co-founder and managing director of Shearwater Capital Group, has become Australia country head at Olympus Capital Asia. The move came largely as a result of the difficulties raising a new fund.
TPG rivals mull bids for Billabong – report
The Blackstone Group and KKR are reportedly considering bids for Billabong after the Australian surfwear company rejected TPG Capital’s A$841 million ($904 million) offer but said it was willing to engage with any party that make an attractive proposal.
Leveraged lenders seek common ground
Australia’s banks have proposed a standard set of rules on who can do what in the event of a default. They say it will stimulate the mezzanine market but junior lenders claim the measures are too restrictive
Australian venture capitalists face commercialization obstacles
Entrepreneurs are brimming with ideas but Australia’s venture capital firms don’t have the capital to convert innovation into products. Government support has so far been piecemeal
PE bets on Asia’s growing food demand
Food assets – notably fresh produce – are increasingly attractive to private equity firms as they potential trade sale exits to Asian corporates looking to satisfy rising domestic demand
Q&A: Archer Capital's Peter Wiggs
At a time when Australian GPs are seeing changes in everything from LP bases to exit options, Peter Wiggs, managing director of Archer Capital, says that a consistent investment strategy can pay dividends
Australian fundraisers feel the strain
Are changes in superannuation laws the cause or the scapegoat? Either way, Australia’s fundraising landscape is undergoing substantial change. Local GPs must choose between going offshore or going out of business