Europe

Axa spins off private equity unit

Axa Private Equity - now renamed Ardian - has completed its spin-out from the Axa Group in deal which values the unit at EUR510 million ($690 million).

ICG adds Nyree Hu to Asia team

Specialist asset manager Intermediate Capital Group (ICG) has hired Nyree Hu as Asia director with its 11-strong global distribution team.

Japan's Lixil acquires TPG-backed faucet maker Grohe

Lixil Group, a Japanese toilet manufacturer, has agreed to acquire Grohe, a German maker of faucets backed by TPG Capital and the private equity arm of Credit Suisse (formerly CSFB Private Equity), for JPY400 billion ($4 billion).

Axa-owned Novacap chemicals group makes China acquisition

AXA Private Equity-backed French chemicals group Novacap, is to acquire a majority stake in Taixing Yangzi Pharm Chemical (Yangzi), one of the leading Chinese producers of a chemical mainly used for the production of paracetamol. Financial terms of the...

Fosun buys 35% stake in Italian luxury menswear brand

Fosun International, China’s largest privately-owned conglomerate, has agreed to buy a 35% stake in Italian menswear brand Caruso. Much like Fosun’s investments in other foreign brands, the plan is to support Caruso’s expansion in China.

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Secondaries: Bifurcation point

More LP interests in Asian funds are coming onto the secondary market, but the region remains the industry’s future rather than its present. Which investors will be around to witness it coming to bloom?

Mandarin Capital exits IMA Group, has first close on Fund II

Mandarin Capital, a Chinese-Italian private equity fund, has sold its 7.57% stake in Bologna-based pharmaceutical machinery business IMA Group for EUR53 million ($69.7 million) and has made first close of its second fund on EUR110.5 million.

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Q&A: Rocket Internet's Tito Costa

Rocket Internet, which has raised more than $1 billion in funding in the last year, is known for launching copycats of successful sites. Tito Costa, managing director for Southeast Asia, outlines a different strategy for the region

Axa to exit Arkadin to Japan's NTT

Axa Private Equity has entered exclusive negotiations with Japan's NTT Communications Corporation to sell its stake in collaboration software as a service (SaaS) provider Arkadin.

King & Wood Mallesons merges with SJ Berwin

King & Wood Mallesons and London-based SJ Berwin will merge to form a single law firm valued at $1 billion. With over 2,700 lawyers in more than 30 countries, the combined entity is expected to be one of the 25 largest law firms in the world.

Japan's Chiyoda acquires PE-backed energy consultancy

Chiyoda Corp, a Japanese engineering contractor, has acquired a majority stake in Scottish energy consultancy business Xodus Group from UK private equity backer Simmons Parallel Private and Dutch investor Sunrise Xodus. Financial details were not disclosed.

Apax reaches $7.5b final close on latest global fund

Apax Partners has reached a EUR5.8 billion ($7.5 billion) final close on its eighth global fund. The final close was reached within 15 months of the fund's launch, as planned, but still falls short of its initial target of EUR9 billion.

GIC to sell Springer Science+Business

GIC Special Investments, the PE arm of the Government of Singapore Investment Corporation, and EQT will sell global publisher Springer Science+Business Media to London-based BC Partners for a total enterprise value of around EUR 3.3 billion ($4.4 billion),...