North Asia
Portfolio: Bain Capital and Domino's Pizza Japan
The US consumer cred of Domino’s Pizza means little in Japan where consumer tastes and cultural norms are very different to the West. Bain Capital took an innovative approach to cornering a competitive sector
Carlyle launches Japan fund with $2b target - report
Carlyle is said to have launched its latest Japan-focused buyout fund with a target of $2 billion.
Hahn & Co. to buy stake in South Korea's STX Energy - UPDATE
Hahn & Co. has agreed to buy a 43.15% stake in STX Energy, a subsidiary of beleaguered South Korean conglomerate STX Corp. AVCJ understands that the transaction a couple of months away from completion, and the terms could change pending the resolution...
Korea's Kakao, government to launch start-up fund
South Korean mobile app developer Kakao has teamed up with the South Korean government to launch a KRW30 billion ($27 million) fund aimed at supporting start-ups. The Small & Medium Business Administration (SMBA) will back the Kakao Young Entrepreneur...
Intel Capital backs South Korean mobile tech maker
Intel Capital, the US chipmaker's corporate VC arm, has invested an undisclosed amount in Zinitix, a South Korean developer of touchscreen controller technology for mobile devices. The funding will help the company expand into other rapidly growing markets...
Japanese corporate pension funds boost alternatives exposure – J.P. Morgan
Japanese corporate pension funds are looking to increase their exposure to alternative assets - including private equity - according an annual survey by J.P. Morgan.
Fortis, Next Invest exit Belgian ink maker to Japan's Toyo
Fortis Private Equity and Next Invest have sold their 100% stake in Belgian ink manufacturer, Arets International, to Japan’s Toyo Ink Group for EUR10 million ($13 million).
CVC, MBK among final bidders for ING Korea unit - report
CVC Capital Partners and South Korean PE firm MBK are among the last five bidders to begin preliminary due diligence as they consider an offer for at least 51% stake in the Korean unit of Dutch insurance firm ING Groep.
JAIC spin-out seeks VC secondaries
Private equity secondary exits have seen a resurgence in Japan in the last two years, with more than $5.3 billion transacted. In only one year previously - 2007 - has deal value surpassed $1.3 billion. For two groups of industry participants, the prospects...
Fenox, IMJ to invest in SE Asian, Japanese start-ups
Silicon Valley's Fenox Venture Capital and Japanese mobile solution provider IMJ Corporation have jointly established IMJ Fenox Pte with a view to investing in mobile, Internet and software technologies in Southeast Asia, Japan and the US.
Ex-JAIC boss to launch Japan secondaries fund
Former JAIC CEO Moriyoshi Matsumoto, who was responsible for the group’s secondaries business, has spun out to create an independent secondary investment platform. WM Partners is targeting up to JPY10 billion ($102 million) for its debut fund, with a...
The Abe effect: Japan's economic reforms
Japanese Prime Minister Shinzo Abe has unveiled aggressive economic reforms, sending the country's stock market up and its currency down. PE can benefit but longer-term change would be even more helpful
Korea Teachers Pension Fund CIO to step down
Yun Kyu Lee is to step down as chief investment officer of Korea Teachers Pension Fund (KTPF). His replacement has yet to be announced.
Capital Dynamics to launch $154m Japan-focused fund-of-funds
Switzerland-headquartered asset manager Capital Dynamics plans to launch a JPY15 billion ($154 million) Japan-focused fund-of-funds. A source familiar with the matter said Japanese corporate pension funds will be among the investors in the new vehicle,...
PE firms seek partnerships with Korean corporates - AVCJ Forum
Private equity firms are best served working with South Korean conglomerates rather than competing against them for assets, with collaborative efforts to secure overseas assets a strong potential source of deal flow, industry participants told the AVCJ...
Morgan Stanley-backed Hyundai Rotem targets IPO
Hyundai Rotem, a South Korean railway and defense systems manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has applied to the Korea Exchange for an IPO. According to local media, the company is looking to raise KRW300-400 billion ($270-360...
Formation 8 raises $448m, eyes US-Asia VC opportunities
Formation 8, a start-up venture capital firm that targets US businesses with the potential to expand into Asia, has raised $448 million for its debut fund. Headquartered in Silicon Valley, the firm has eight operating professionals based out of offices...
MGPA announces second close on Asia real estate fund
MGPA has held a second close of EUR50 million ($65 million) on its latest Asia property fund with a further commitment from a German insurance company. The vehicle, MGPA Asien Speziafonds, which specifically targets German investors, has so far received...
University of Michigan commits to Morgan Stanley Private Equity Asia IV
The University of Michigan has committed $25 million to Morgan Stanley Private Equity Asia’s (MSPEA) fourth pan-regional fund. The vehicle, which reached a first close of $750 million towards the end of last year after less than six months in the market,...
Q&A: Vogo Investment's Jason Shin
Jason Shin, managing partner of Vogo Investment, explains why South Korean company owners’ preference for local partners goes well beyond foreign private equity’s well publicized scrapes
A multi-faceted market
Of readers who have been following Asia’s private equity markets for some years, few would contest South Korea’s place as one of the more important locations for international investors. After all, apart from maybe Australia, it has been the region’s...
Korea buyouts: Young pretender?
South Korea was the only significant PE market in Asia to see an uptick in deal flow last year. Investors have high expectations; uncertainty among local conglomerates – and local GPs – could make or break them
Chaebol cross-shareholding: David and Goliath
Removing cross-shareholding structures that hold Korea’s conglomerates together, and arguably suffocate competition, is key to economic democratization. But will it happen and what would it mean for PE?
KKR appoints turnaround specialist as Japan CEO
KKR has hired Hirofumi Hirano, who led the AlixPartners team that advised on the turnaround of Japan Airlines, as managing director and CEO for its Japan operations. Current CEO Shusaku Minoda has been promoted to chairman.