North Asia
Entrepreneurs launch Korea start-up accelerator
A group of South Korean serial entrepreneurs has launched a start-up accelerator intended to connect domestic companies with their global counterparts. Advisors and mentors to the program include US tech entrepreneur and Dallas Mavericks owner Mark Cuban...
Korea's Woongjin, KTB Private Equity in $1b Coway deal
KTB Private Equity, an affiliate of South Korean financial services company KTB Investment & Securities, will team up with Woongjin Holdings to buy a 31% stake in water purifier manufacturer Coway for KRW1.2 trillion ($1 billion). The target company is...
Korea's Woori sale fails yet again as no bidders materialize
The South Korean government’s latest attempt to exit its controlling stake in Woori Finance Holdings has failed after no one submitted a preliminary bid. The country’s financial regulator subsequently said “it would be difficult to mount another attempt...
The US invasion: Competition rises among Asia PE legal counsel
A host of US law firms are boosting their Asian operations with a view to offering private equity clients a full suite of services, from fund formation to capital markets. Is there enough business to go around?
STIC exits Jeil Hydraulics for 3.1x return
STIC Investments has exited its stake in Jeil Hydraulics, a Korean manufacturer of hydraulic motors and related components, to Eaton Corporation for KRW30.8 billion ($26.8 million). The investment generated a 3.1x money multiple.
Ropes & Gray to open office in Seoul
US-headquartered law firm Ropes & Gray has announced that it will open an office in Korea. The firm has become the first foreign practice to gain permission from Korea’s Ministry of Justice to establish a presence in the country.
Unison launches $104m offer for South Korea's Nexcon
Japanese private equity firm Unison Capital has launched a KRW119.8 billion ($104 million) tender offer for Nexcon Technology, a manufacturer of products for lithium-ion secondary batteries.
Japan's CyberAgent Ventures to open Korea office
Japan’s CyberAgent Ventures will open an office in South Korea next month. It will take the VC firm’s Asia presence to eight locations, complementing existing operations in Tokyo, Beijing, Shanghai, Shenzhen, Taipei, Ho Chi Minh and Hanoi.
Standard Chartered PE takes Smoothies Korea overseas
Standard Chartered Private Equity (SCPE) has completed its fourth transaction in partnership with South Korea’s National Pension Service (NPS), making a $46 million investment in nutritional beverage brand Smoothies Korea. The company will use the capital...
MBK beaten by Lotte in $1.1b Hi-Mart take-private
MBK Partners has officially been beaten to the punch in its attempt to privatize Hi-Mart, as Lotte Shopping signed a deal to acquire the South Korean electronics retailer for KRW1.25 trillion ($1.1 billion).
MBK no longer in running for Korea's Hi-Mart
MBK Partners is no longer the preferred bidder for South Korean electronics retailer Hi-Mart, having walked away from the auction after due diligence uncovered a worse than expected decline in the business.
Micron beats TPG, Hony to acquire Elpida
Micron Technology has beat potential investors including TPG Capital and Hony Capital to acquire Japan’s Elpida Memory for about $2.5 billion, in a move to compete against rivals in South Korea and Taiwan.
Q&A: CVC Asia's Roy Kuan
Roy Kuan, managing partner of CVC Asia, looks back on a busy first half of 2012 in which the firm closed five deals. Falling valuations, planning and patience are among the key factors
Coller Barometer: Asia Pacific PE growth trend to continue
Global investors will continue to up their exposure to Asia-Pacific private equity over the next three years, according to the latest edition of Coller Capital’s Global Private Equity Barometer.
Bain buys half of Japanese TV shopping channel for $1.3b
Bain Capital will buy a 50% stake in Jupiter Shop Channel (JSC), a television shopping company, from Japan-based Sumitomo Corporation. Industry sources noted that the deal is worth JPY100 billion ($1.3 billion), which might be Japan's largest private...
MBK named preferred bidder for Korea's Hi-Mart
MBK Partners has been chosen as the preferred bidder for South Korean electronics retailer Hi-Mart. The company said in a statement to the Korean Stock Exchange that its largest shareholder, Eugene Corp, had made the decision.
Partners Group exceeds $800m with real estate fund
Partners Group has closed its Global Real Estate 2011 program at more than $800 million.
Illiquidity putting Japan pension plans off PE
The liquidity constraints of negative cash flows are making private equity less attractive for Japanese defined benefit pension plans, according to a new survey.
MGPA acquires multi-office portfolio in Japan
MGPA, a private equity real estate investment advisory firm, has acquired eight office properties in Japan, with all but one located in Tokyo. The investment was channeled through MGPA Asia Fund III and took the form of commercial mortgage-backed securities....
O'Melveny to open office in South Korea
O'Melveny & Myers is going to open an office in Seoul, South Korea, in a move to deepen their services for Korea-based clients. It will be the seventh Asia office of the legal firm, alongside locations in Shanghai, Hong Kong, Beijing, Singapore, Tokyo,...
Unitas in timely bet on Korea's outdoor market
As in most proprietary deals, timing was everything when it came to Unitas’ most recent investment. By fortuitous coincidence, the Asia-focused private equity firm approached Korean outdoor apparel and equipment manufacturer NEPA at the very moment that...
SK Group raises fund to support struggling firms
Korea’s SK Group has created a KRW100 billion ($85 million) private equity fund intended to promote shared growth with smaller partner companies. Rather than offer loans to suppliers, the fund will invest directly in competitive firms that are struggling...
Unitas invests $164m in Korean outdoor brand
Unitas Capital has injected KRW190 billion ($162.4 million) into NEPA, a Korean outdoor apparel and equipment manufacturer and retailer, through a capital increase.
Kumho Industrial sells $812m in assets to Korean PE fund
Kumho Industrial, the struggling South Korean conglomerate, has sold KRW946.5 billion ($811.9 million) worth of assets to a private equity fund operated by Korea Finance Corp. in order to boost liquidity. The jettisoned assets include a stake in Daewoo...