North Asia
Japan's J-Star exits Iki Iki to Noritsu Koki Group
J-Star, the mid-market Japanese GP, has exited lifestyle marketing company Iki Iki to a subsidiary of Noritsu Koki Group. The transaction is expected to close on September 7.
Japan Industrial Partners buys Olympus' mobile telecom unit
Japan Industrial Partners (JIP), a Tokyo-based private equity firm specializing in business restructuring, has bought the mobile-phone retailing business run by Olympus Corp’s ITX unit for JPY53 billion ($676 million).
Permira buys Japan's Sushiro from Unison
Global buyout firms see potential in cash-rich Japanese corporations that can be guided overseas.
Hellman & Friedman sells Goodman to Japan's Daikin
US-based private equity firm Hellman & Friedman has sold its air conditioner maker, Goodman Global, to its Japanese rival, Daikin, for $3.7 billion.
StepStone adds two managing directors to Asia team
StepStone has appointed Mu-shin Kim and Andy Tsai as managing directors to its Asia team. While Kim will cover investments and business development in Korea and Japan, Tsai will focus on Taiwan and broader Asia. Both will be based in the firm’s Beijing...
Renesas shares spike on report of KKR investment
Shares in Japan’s Renesas Electronics Corp. have soared to their highest level in almost three months after it was reported that KKR will invest JPY100 billion ($1.3 billion) in the company.
Cerberus-backed Aozora unveils plan to repay bailout cash
Aozora Bank, the Japanese lender in which Cerberus Capital holds a large stake, has pledged to repay JPY227.6 billion ($2.9 billion) in bailout money received during Japan’s financial crisis. The sum will be repaid over a 10-year period ending before...
Permira acquires Unison's stake in Akindo Sushiro for $1b
Permira, through its Ireland-based vehicle Consumer Equity Investments (CEIL), has acquired Unison Capital’s stake in Akindo Sushiro, a leading Japanese sushi restaurant. The deal values the company at $1 billion, including debt.
Asia PE investment: Korea makes a splash
With four deals of $350m or more in the last few weeks, South Korea has made its mark on Asia’s private equity investment league table. Why is it happening and can it continue?
PE firms hedge their bets
Numerous private equity and hedge funds are pursuing alliances with one another in Asia. Could a multi-strategy approach be the golden strategy for the region’s investment environment?
STIC-led group preferred bidder for Korean weapons manufacturer
A consortium formed by South Korean private equity firm STIC Investments and brokerage Hana Daetoo Securities has been selected as the preferred bidder for a stake in South Korea's LIG Nex1. The weapons manufacturer is offloading a 49% interest worth...
MBK agrees $1.1b deal for Korea's Woongjin Coway
MBK Partners has agreed to pay KRW1.1 trillion ($1.1 billion) for a 31% stake in Woongjin Coway, the water purifier business of South Korean conglomerate Woongjin Holdings. It is the country’s joint-largest private equity transaction this year and brings...
VC firm leads $6m App Annie Series B round
App Annie, the service provider of app store analytics and market intelligence for the global app economy, has raised $6 million in Series B financing led by Greycroft Partners. China’s IDG Capital Partners, the lead investor in the previous funding round,...
Goldman sells Japanese contractor for $636m
Goldman Sachs has sold Japanese contractor Fujita Corp to local home builder Daiwa House Industry for JPY50 billion ($636 million), representing an exit from one of its longest investments in the country.
Daewoo to sell $1.1b Kyobo Life stake to Affinity-led PE group
A group of investors led by Affinity Equity is buying a KRW1.2 trillion ($1.1 billion) stake in unlisted Kyobo Life Insurance, the smallest of South Korea’s Big Three life insurers, from Posco-owned Daewoo International.
Asia's first secondary real estate trading platform launches
Asia Pacific’s first trading platform for buyers and sellers of secondary interests in real estate funds was launched this week by Jones Lang LaSalle.
Offshore investors: Leap into the unknown
With commitments from domestic LPs easing off, Australian, Japanese and Korean GPs are looking to raise capital from overseas investors. They are entering new territory and some are better prepared than others
Daewoo to set up $1b fund with US partner
South Korean brokerage Daewoo Securities’ Hong Kong unit has reportedly teamed up with a US-based private equity firm to set up a $1 billion fund to invest in social infrastructure projects.
Atinum mulls $350m STX Energy bid
Korea’s Atinum Partners is reportedly considering making a bid for STX Energy Co, the privately-held subsidiary of Korea Exchange-listed STX Group. The deal could value the company at up to KRW400 billion ($$354 million).
PE firms target ING's Asian insurance assets – report
ING is said to be in talks with several parties, including Apollo Global Management, J.C. Flowers & Co. and a team backed by The Blackstone Group, over the sale of different parts of its Asian life insurance operations. The initial plan was to divest...
PE firms bid for Korean weapons manufacturer – report
Four private equity firms and a European defense company have reportedly submitted bids for a stake in South Korea’s LIG Nex1. The weapons manufacturer is offloading a 49% interest worth around $440 million.
Woori launches $495m PE fund with Posco, EIG
Korea’s Woori Asset Management has launched a private equity fund in partnership with domestic steelmaker Posco and US-based EIG Global Energy Partners. The vehicle was created in February and has a target size of KRW560 billion ($495 million), with Woori...
NTT Investment Partners backs Philippines' Migo
NTT Investment Partners, the corporate venture capital arm of Nippon Telegraph & Telephone Corp, has committed $2 million to Migo Entertainment, a Philippines-based digital content distributor.
Polaris invests in Japan's Myland Real Estate
Polaris Capital Group has acquired a 30% voting stake in Myland Real Estate through its second country-focused fund. The investment is part of the Japanese property broker's wider strategy to expand its business in preparation for an IPO in the next couple...