North Asia
Strained relations: Foreign PE and financial services
Global buyout firms have seen less deal flow in South Korea in recent years, with financial services sector activity a shadow of its former self. This doesn’t necessarily mean they are unwelcome
MGPA buys two Tokyo office buildings
MGPA has acquired two office buildings in Tokyo – South Shin Otsuka building in Otsuka and Shinjuku TX building in Shinjuku - through its Asia–focused German fund MGPA Asien Speziafonds.
Cerberus boosts Seibu tender offer, intensifies row with management
Cerberus Capital Management wants to increase its stake in Seibu Holdings by as much as 12% to 44.7% and nominate nine members of the Japanese rail and hotel operator’s 18-strong board. The move has escalated a row between the private equity firm and...
Polaris acquires Japanese salon operator
Polaris Capital has acquired a majority stake in Japanese salon and sports club operator Socie World for a reported JPY3 billion ($32 million). The capital came from the private equity firm’s third vehicle, which has so far raised JPY36 billion, just...
Phoenix Capital exits Japan's TEAC to Gibson Guitar
Phoenix Capital has agreed to sell its entire holding in Japanese-listed audio equipment manufacturer TEAC to Gibson Guitar for 4.88 billion yen ($51.9 million).
New Mexico State Investment Council commits to Affinity Fund IV
New Mexico State Investment Council (NMSIC) has agreed to invest up to $75 million in Affinity Equity Partners’ fourth pan-Asia fund. The vehicle reached a first close of $1.5 billion in early March and has a hard cap of $3.5 billion.
Q&A: Baring Private Equity Asia's Jean Eric Salata
Baring Private Equity Asia closed its fifth fund at $2.46 billion in early 2011. CEO Jean Eric Salata tells AVCJ why the firm has taken its time investing the capital and where he now sees value emerging in the market
On rocky ground: PE's Mongolia risk factor
Rich in mining resources, Mongolia has a bright economic future, but vulnerability to commodity price shocks and an uncertain political climate have made many investors wary of taking the risk
KKR sees 5x return on Japan's Intelligence Holdings - Update
KKR will sell Japanese recruitment services provider Intelligence Holdings to Temp Holdings for JPY68 billion ($721 million), including debt. The PE firm's equity exit is worth JPY51 billion ($537 million), putting it on course for a more than 5x money...
Carlyle exits Japan's Broadleaf through IPO
The Carlyle Group has exited its majority stake in Japanese software company Broadleaf though an IPO on the Tokyo Stock Exchange.
JAFCO invests $5.3m in group buying site Luxa
JAFCO has invested JPY500 million ($5.3 million) in Luxa, a Japanese group buying site, as part of a Series B round.
KKR eyes Panasonic healthcare unit - report
KKR is said to be among several investors showing interest as Panasonic looks to offload its healthcare unit.
AVCJ at 25: David Gross-Loh & Jim Hildebrandt of Bain Capital
David Gross-Loh and Jim Hildebrandt, managing directors at Bain Capital, guided the firm’s Japan-heavy Asia portfolio through the global financial crisis. Acting fast without overreacting was central to their approach
AVCJ at 25: Joe Bae of KKR
Joe Bae, partner and head of Asia at KKR, set up the private equity firm’s regional operation seven years ago with two principal goals: being as local as possible and building a franchise that is sustainable in the long term
AVCJ at 25: Michael B. Kim of MBK Partners
Michael B. Kim, founding partner of MBK Partners, left The Carlyle Group in 2005 to set up his own private equity firm. The time was right, the capital was available, and there was a desire to become more local
AVCJ at 25: Roy Kuan of CVC Capital Partners
Roy Kuan, managing partner at CVC Capital Partners, witnessed a transformation in private equity in the wake of the Asian financial crisis. Suddenly he was in the buyout business, carving out assets from distressed conglomerates
AVCJ at 25: Weijian Shan of PAG
Weijian Shan, chairman and CEO of PAG, made his name in private equity turning around troubled companies for Newbridge Capital. Two bank deals helped open international investors’ eyes to the Asia buyout opportunity
AVCJ at 25: George Raffini of Headland Capital Partners
George Raffini spent 21 years with HSBC’s Asia private equity unit before the team spun out to form Headland Capital Partners in 2010. He witnessed Asia reach new highs in the 1990s before brutally falling to earth
AVCJ at 25: Ta-Lin Hsu of H&Q Asia Pacific
Ta-Lin Hsu, founder and chairman of H&Q Asia Pacific, brought venture capital to Taiwan as part of efforts to develop the tech sector. It was a launching pad for private equity across the region
MBK appoints advisor for ING South Korea bid - report
North Asia-focused buyout firm MBK Partners is said to have hired Barclays to advise on a bid for ING's South Korean life insurance business.
Development Bank of Japan launches $1.5b fund
The Development Bank of Japan (DBJ) has launched a JPY150 billion ($1.5 billion) growth fund for investing in domestic companies.
Asia has more than one third of global sovereign assets – study
Asia accounts for 39% of the $5.2 trillion in sovereign wealth fund (SWF) assets globally, with China alone holding $1.49 trillion, according to a new study.
Longreach adds to Tokyo team
North Asia mid-market buyout firm The Longreach Group has appointed Takuya Sato as executive director and Kishin Ryu as an associate.
Cerberus to boost stake in Japan's Seibu
Cerberus Capital Management wants to raise its stake in Japanese railways and property group Seibu Holdings by around 4% as the company plans to re-list.