North Asia
PE firms call for limit on Japan's government-backed funds
KKR, The Carlyle Croup and Bain Capital are part of a group of private equity firms urging the Japanese government to rein in its state-backed funds.
TPG, Northstar approached for BTPN stake - report
Japanese banks Mitsubishi UFJ, Mizuho and Sumitomo Mitsui are said to be among potential suitors approaching TPG and Northstar Pacific Partners with a view to acquiring their stake in Indonesia's Bank Tabungan Pensiunan Nasional (BTPN). The PE firms'...
Mitsubishi unit seeks $750m for shipping PE fund
MC Asset Management Holdings, a unit of Japanese conglomerate Mitsubishi, is seeking to raise a $750 million fund that will take advantage of depressed prices in the shipping industry.
Fidelity Growth Japan leads Metaps series B round
Fidelity Growth Partners Japan has led a JPY1 billion ($10 million) Series B round of investment in Metaps, a Tokyo-based mobile software developer. Existing investors have also taken part in the round.
Vogo-backed Tong Yang Life eyes ING South Korea unit
Vogo Capital-backed Tong Yang Life Insurance is considering purchasing ING Group's South Korean insurance unit.
KKR boosts capital markets, Capstone teams in Japan
KKR has strengthened its Japan team with the appointment of Hiro Shimizu and Sakae Suzuki as directors. The private equity firm now has 12 people in its Tokyo office.
KKR's Asia fund 'practically closed' – Kravis
KKR’s second Asia fund is “practically closed” having exceeded its $6 billion cap, according to Henry Kravis, co-chairman of the private equity firm. This confirms earlier reports that the fund – the largest vehicle ever raised in the region, topping...
Korea's AmorePacific leads pharma firm's Series B round
AmorePacific Ventures, the VC arm of Korea's largest cosmetics group, has led a $7 million Series B round of investment in Miami-based Brickell Biotech, a pharma firm specializing in skin conditions. Further details of the deal were not disclosed.
Carlyle upbeat on Japan, expects to launch new fund in 2013
The Carlyle Group says it has already begun preliminary talks with investors for a third Japan fund, and remains upbeat about opportunities in the country's buyout space.
STIC-led consortium finalizes LIG Nex1 deal
A group of Korean investors led by STIC Investments has agreed to buy a 49% stake in LIG Nex1, a domestic aerospace and defense company owned by LIG Group. The sale price is said to be KRW420 billion ($388 million).
Morgan Stanley in control deal for Korean paper maker
Morgan Stanley Private Equity Asia (MSPEA) has agreed to buy a majority stake in South Korean bathroom tissue producer Monalisa for KRW91.4 billion ($84.2 million). The seller is Kwang-ho Kim, the company’s CEO, who will also exit two unlisted entities...
Orix beats PE firms to buy Rabobank's Robeco
Orix has bought the asset management arm of Rabobank, Robeco, for EUR1.9 billion ($2.5 billion). The Japanese financial services firm will acquire a 90.1% stake in the company while Rabobank will retain 9.9%.
Korean GP EQ Partners gets investment from Reorient Group
Hong Kong-listed financial services provider Reorient Group has bought a one third stake in Korean private equity firm EQ Partners from Dongah Tire & Rubber, a Korean auto parts manufacturer, for KRW4.5 billion ($4.1 million).
Carlyle to make partial exit with Broadleaf IPO
The Carlyle Group is set to exit the majority of its stake in Broadleaf following the Japanese company's announcement that it would seek to raise up to JPY23.3 billion ($248.37 million) through an IPO.
Asahi accuses Independent Liquor of 'channel stuffing'
Asahi claims that Pacific Equity Partners (PEP) and Unitas Capital resorted to “channel stuffing” – where companies supply retailers with more product than they are capable of selling to boost sales figures – to artificially inflate Independent Liquor’s...
Virginia pension fund backs Fortress' Japan distress vehicle
Virginia Retirement System (VRS) has committed to $50 million to Fortress Investment Group’s Japan Opportunity Fund II, a distress-focused vehicle that closed last December at its hard cap of JPY130 billion ($1.65 billion).
Asahi, PE firms set for legal battle over Independent Liquor sale - update
Japanese beverage giant Asahi has taken legal action against private equity firms Pacific Equity Partners (PEP) and Unitas Capital over its acquisition of New Zealand firm Independent Liquor in 2011 for NZ$1.5 billion ($1.5 billion).
CLSA exits Japan's Everlife for $285m
CLSA Japan has sold its 100% stake in Japanese direct marketing company Everlife to Korea's LG Household and Health Care for JPY25.8 billion ($285 million).
CITIC Capital Japan-backed Tri-Wall acquires DS Smith unit
Tri-Wall, a Hong Kong-headquartered heavy-duty cardboard manufacturer backed by CITIC Capital Partners, has acquired the UK Tri-Wall unit of British packaging firm D.S. Smith.
Vogo, KTB-backed LG Siltron withdraws IPO
LG Siltron, a silicon wafer manufacturer owned by LG Group, Vogo Investment and KTB Private Equity, has abandoned plans to raise at least $275 million through an IPO. The company won listing approval on October 31 but decided not to proceed because domestic...
Hahn & Co. in $130m bankruptcy buyout
Sourcing deals through South Korea's bankruptcy courts is notoriously complicated, but even by these standards Korea Line presented a challenge. The sale process was officially launched late afternoon on December 21, the Friday before what most people...
HIG Capital sells Anvis to Japan's Tokai Rubber
HIG Capital has sold German car parts maker Anvis to Japan's Tokai Rubber Industries for EUR132 million ($177.91 million). Financial terms of the deal were not undisclosed.
Secondaries in vogue in Korea
Among South Korean LPs there such a thing as the flavor of the month. We have seen global buyout and credit phases over the years, during which international private equity and credit houses mopped up more allocations than ever before. The last 12 months,...
Talent tinkering: Operating partners in Asia
Operational value-add is becoming the new normal in Asia as private equity firms hire professionals with the skills to build portfolio companies. However, methods of recruitment and retention vary hugely