Pan-Asian logistics and fund management platform ESR has postponed its Hong Kong IPO, which was expected to raise up to HK$975.6 billion ($1.24 billion) and facilitate partial exits for several private equity investors.
KKR is set for the first exit from its third Asian fund, having agreed to sell Korean copper foils manufacturer KCF Technologies to an affiliate of SK Group for KRW1.2 trillion ($1 billion).
Singapore’s GIC Private and US-based Booking Holdings have invested $180 million in South Korean hotel operator and booking platform Yanolja, reportedly valuing the company at more than $1 billion.
500 Startups has launched its second Korea fund focused on early-stage technology companies in the country.
Japan’s Polaris Capital has agreed to back Panasonic i-Pro Sensing Solutions, a spin-out of Panasonic that will take over the parent company’s security systems business in Japan and overseas.
Japan’s Base Food, a company that produces packaged meals that are said to be nutritionally complete, has raised JPY400 million ($3.7 million) in Series A funding from a group including Global Brain.
MBK Partners has agreed to assume majority control of the credit card business of South Korean conglomerate Lotte Corporation in a deal worth KRW1.38 trillion ($1.17 billion).
Affirma Capital, a GP established through the spin-out of Standard Chartered’s private equity business, has agreed to acquire a controlling stake in South Korea-based Hwa Sung Cosmetics.
SBI Investment, the VC arm of Japan’s SBI Holdings, has joined a JPY3.8 billion $35 million Series B round for Pixie Dust Technologies, a local company developing novel uses for ultrasonic waves.
Korean consumer conglomerate CJ CheilJedang Corporation has agreed to sell a 27% stake in CJ Foods America – a vehicle established for the acquisition of US frozen foods provider Schwan’s – to Bain Capital for $320 million.
ESR, a pan-Asian logistics and fund management platform that was seeded by Warburg Pincus, has closed its latest Japan-focused fund at JPY200 billion ($1.8 billion).
Sansan, a PE-backed company that specializes in cloud-based business card digitization, has filed for a domestic IPO that is expected to generate around JPY35.2 billion ($321 million).
The bulk of the L Capital Asia team that merged with Catterton in 2016 to form L Catterton, a global consumer-focused private equity firm, is spinning out to raise a $750 million Asia growth fund.
Japan’s Gree Ventures has rebranded as Strive and launched its third fund with a view to raising JPY15 billion ($137 million) for internet company investments across Japan, Southeast Asia, and India.
VIG Partners has reached a first close of $530 million on its fourth Korea-focused fund, with international investors accounting for more than 60% of commitments received so far.
Campfire, a Japanese crowdfunding platform operator, has raised a JPY2.2 billion ($20 million) Series C round with support from Global Brain and KDDI Corporation.
German financial services giant Allianz has committed $600 million to funds managed by GLP, a PE-owned warehouse operator based in Singapore, with a view to investing in logistics in China and Japan.
Put options amount to threats seldom acted upon. By demanding that the chairman of Korea’s third-largest life insurer buy back their shares, a group of investors has taken Asian PE into uncharted territory
Tikehau Capital, a France-based asset manager with EUR2.8 billion ($3.1 billion) in private equity assets under management, is expanding its Asia footprint with an office in Tokyo.
As one of oldest GPs in South Korea, IMM Private Equity has helped to show both domestic and global investors that the PE community can bring major benefits to the country’s corporate sector
Global industrial gases business Linde has confirmed the sale of its Korea-based assets to IMM Private Equity for $1.2 billion.
The Blackstone Group has acquired Geo-Young, a South Korean wholesale drug distributor, working in conjunction with the founders. It facilitates an exit for local GP Anchor Equity Partners, which invested in the company in 2013.
Magic Leap, a US virtual reality (VR) and augmented reality (AR) goggles maker backed by several private equity firms, has secured $280 million for a Japanese expansion from NTT Docomo.
Japanese venture capital firm Globis Capital Partners has raised JPY36 billion ($321 million) for its sixth fund. The overall target of JPY37.5 billion is expected to be reached by June.