Europe
Project Europe: China targets high-end manufacturing
Chinese strategic investors are bidding up manufacturing assets in Europe. There is room for PE players to participate, but they will generate value by identifying high-tech targets early in the value chain
VIDEO: Ralph Jaeger of Siguler Guff
Pockets of growth in lower-tier cities continue to present the most enticing opportunities for emerging markets investors, says Ralph Jaeger, managing director and co-portfolio manager of Siguler Guff’s BRIC Opportunities Funds
Apax exits IEE to Chinese investors
Apax Partners has agreed to sell Electronics & Engineering (IEE), a Luxembourg-based developer of specialized sensing systems, to a consortium comprising Chinese strategic investors and an international financial investor.
Zoomlion's PE backers exit CIFA holdings for $236m
Chinese construction equipment maker Zoomlion has paid $236 million for equity interests held by Hony Capital, Goldman Sachs and Mandarin Capital Partners in the business unit that was used to buy Italy’s Compagnia Italiana Forme Acciaio (CIFA) in 2008.
China’s Weichai could raise Kion stake to one third
Weichai Power, a Chinese automotive and equipment manufacturer owned by Shandong Heavy Industry, has obtained the option in increase its stake in German forklift truck maker Kion to one third. The company owns 25% of the business and already has an option...
Baird teams up with Axis Capital for cross-border investment banking
International asset manager Baird is forming a strategic alliance with Axis Capital, the investment banking subsidiary of India’s Axis Bank, to focus on cross-border M&A between India, Europe and the US.
Insurance Australia sells UK business to Aquiline Capital
Insurance Australia Group has agreed to sell its UK business – Equity Red Star – to Aquiline Capital Partners for GBP87 million ($140 million). The transaction is scheduled for completion before June 2013.
GCS Capital finalizes Dexia asset management deal
GCS Capital has agreed to buy Dexia asset management (DAM) business shortly after entering into exclusive negotiations with the Belgo-French financial group. The Hong Kong-based private equity firm has also signed a strategic partnership agreement with...
GCS Capital in talks to buy Dexia asset management unit
GCS Capital, a Hong Kong-based private equity firm, is in exclusive talks to buy Dexia’s asset management arm. It is estimated that the deal could be worth EUR500 million, lower than the EUR750 million Dexia was reportedly seeking when it put the asset...
Oaktree-backed Fusheng buys German air compressor maker
Oaktree Capital Management-backed Fusheng Industrial, Greater China's biggest maker of industrial air compressors, has acquired its German rival ALMiG Kompressoren. ALMiG management has re-invested in the merged entity.
Gen2, China Private Equity in partnership agreement
Gen2, a Hong Kong-based asset management firm that focuses on Greater China private equity opportunities, has formed an alliance with China Private Equity Investments Holdings (CPE), an AIM-listed vehicle that claims to offer European investors to Chinese...
Composition launches VinaLand counter-proposal
Composition Capital Partners, which is leading a shareholder revolt against the board of VinaLand - a Vietnam real estate fund - over reorganization plans, has now launched a counter-proposal.
Western valuation criteria cannot be applied to Chinese PE - study
Valuation standards devised in Western markets cannot be automatically applied to Chinese companies due to the influence of factors such as due diligence, according to a new joint study released by German exchange organization Deutsche Börse and law...
Compostion Capital leads VinaLand shareholder revolt
Composition Capital is leading a large group of shareholders in Vietnam real estate fund VinaLand against a “reorganization” proposal by the company’s board.
Fosun bids for Greek gambling monopoly OPAP
Fosun has expressed interest in buying a 33% stake in Greek gambling monopoly Hellenic Football Prognostics Organization (OPAP), the country's privatization agency Hellenic Republic Asset Development Fund (HRADF) said on Saturday.
CIC buys stake in Heathrow Airport Holdings
China investment Corporation (CIC) has bought a 10% stake in Heathrow Airport Holdings from Spanish builder Ferrovial and other investors for GBP450 million ($725 million).
CVC names three co-chairmen to succeed Michael Smith
CVC Capital Partners’ chairman, Michael Smith, will retire in January and be succeeded by Donald Mackenzie, Rolly van Rappard and Steve Koltes. The announcement comes as the private equity firm prepares to launch its latest global buyout fund with a...
Apax-owned Travelex to expand in China
Apax Partners-owned Travelex will expand its China footprint on becoming the first overseas operator to receive a nationwide foreign exchange license. The company plans to add a further 20 outlets in the next year to its current tally of 35, begin rolling...
India’s Rain Commodities buys Triton-owned Rütgers
Indian industrial group Rain Commodities has agreed to buy Rütgers, a German chemicals producer, from Northern Europe-focused private equity firm Triton. With an enterprise value of EUR702 million ($918 million), the deal is by some distance the largest...
Asian private equity: Education never ends
It is common knowledge that Asian private equity has been going from strength to strength, generating returns that compare increasingly favorably to those of Western Europe and the US. Indeed, recent figures published by Cambridge Associates suggest that...
Baker & McKenzie names new PE chair, confirms McNamara departure
Baker & McKenzie has appointed Simon Hughes as chair of its global private equity group, in place of Sydney-based Mark McNamara. A spokesperson for Baker & McKenzie also confirmed that McNamara is leaving the firm.
Chinese bidder to buy PE-backed KraussMaffei – report
A Chinese machinery group is reportedly in exclusive talks with US-based Madison Capital to buy its German rival KraussMaffei Technologies. The deal - which is likely to fetch as much as EUR700 million ($908 million) - would be the latest in a string...
Fosun backs RHJ acquisition of Deutsche's BHF unit
China's Fosun Group is supporting RHJ International in its latest attempt to buy BHF, a leading German private bank, from Deutsche Bank. For Fosun, it represents an opportunity to secure a presence in the eurozone’s largest economy.
Asia, Middle East investor group buys 10% stake in CVC
A group of investors has purchased a 10% stake in CVC Capital Partners as the private equity firm seeks to deepen ties with existing LPs, potentially making it easier to raise capital for future funds. It follows moves by TPG Capital and Apax Partners...