North Asia
Korea's SK Telecom launches digital healthcare JV with local GP
Korea’s SK Telecom has spun out its digital healthcare development unit to form a joint venture (JV) with local private equity firm Newlake Alliance Management.
Coronavirus & fundraising: Caught in a bind
The coronavirus outbreak has implications for PE fundraising well beyond China. Many Asia-based managers are either unable to go and see LPs or LPs are not permitted to visit them
Japan's Jafco closes sixth flagship VC fund at $765m
Jafco, Japan’s largest venture capital investor, has confirmed a final close on its sixth flagship fund at the hard cap of JPY80 billion ($765 million).
Coronavirus in Asia: Ongoing analysis
Coronavirus concerns among GPs not solely focused on China vary based on their direct or indirect exposure to China, but gauging private equity responses to the crisis is like chasing a moving target
Fund focus: I-nest targets lifestyle technologies
Rather than addressing the healthcare opportunities created by Japan's changing demographic base, I-nest Capital is focusing on lifestyle and entertainment needs of an aging population
Mongolia start-ups: Steppe forward
Unlike most frontiers, Mongolia is more talent hub than consumer market. There is no systemic hindrance to start-up investment but few mechanisms to sufficiently organize it
KKR to exit Japan's Pioneer DJ
KKR has agreed to sell its majority stake in AlphaTheta Corporation, a Japanese DJ equipment manufacturer previously known as Pioneer DJ, to domestic photo processing equipment producer Noritsu Koki for JPY35 billion ($324 million). The deal is worth...
Carlyle to sell Japanese food business Meisui Bijin
The Carlyle Group has agreed to sell full ownership of the maker of Meisui Bijin, a Japanese brand of bean sprouts, to food-focused Shinmei Holdings for an undisclosed sum.
AVCJ Awards 2019: Exit of the Year - Large Cap: KCF Technologies
Recognizing strong demand trends for electric vehicle batteries, KKR turned around KCF Technologies within two years before exiting the Korean business with a 6.5x return
Japan’s I-nest Capital raises $60m for debut VC fund
I-nest Capital, a Japanese VC firm set up last year by former Mizuho Financial Group employees, has raised JPY6.6 billion ($60 million) for its debut fund. The target was JPY6 billion.
Korea’s Company K Partners launches $187m growth fund
Korean venture capital investor Company K Partners has raised KRW122 billion ($153 million) for its latest fund, which has a hard cap of KRW150 billion.
Japanese investors commit $856m to Grab
Singapore-based ride-hailing and online-to-offline (O2O) services platform Grab has raised $856 million from Japan’s Mitsubishi UFJ Financial Group (MUFG) and TIS Intec Group.
Deal focus: Carlyle sells its golden goose
Having prioritized Asian expansion and high-end direct retail operations, Carlyle completed its exit from European sneaker brand Golden Goose with a more than 3x return
Globis backs two Japan marketing services companies
Japan’s Globis Capital Partners has invested in two marketing services providers in separate transactions, including web conferencing player BellFace and data-focused Flywheel.
Poor relations: Endowments and foundations in Asia
With a few exceptions, Asia’s endowments and foundations lack the scale, sophistication and appetite for alternatives of their US brethren. Structural and cultural barriers maintain the status quo
Japan's Endeavor United secures two industrials deals
Endeavour United, a Japanese private equity firm established by the team behind turnaround investor Phoenix Capital, has completed two acquisitions in the packaging and chemicals industries.
Carlyle Asia secures exit as Permira buys Golden Goose for $1.4b
Golden Goose, an Italian luxury footwear brand acquired three years ago by The Carlyle Group’s Europe and Asia funds, has been sold to Permira for around EUR1.3 billion ($1.4 billion).
Portfolio: Unison Capital and CHCP
Through its Community Healthcare Coordination Platform, Unison Capital wants to bring efficiencies and economies of scale to parts of Japan’s healthcare sector that have been isolated from private markets
Deal focus: Counterintuition pays off for NSSK
Japanese mid-market buyout firm NSSK has executed a partial exit of Vati, a small but strong performer in the country’s competitive nursing care space
Japanese advisor matching network set for $54m IPO
VisasQ, a Japanese matchmaking platform that connects companies with relevant advisors, is looking to raise approximately JPY5.97 billion ($54 million) through a Tokyo IPO that will provide partial exits for several VC backers.
Polaris pursues take-private of Japan's Sogo Medical
Polaris Capital Group has made an offer to privatize Sogo Medical Holdings, a Japanese pharmacy chain operator and B2B healthcare management platform, at a valuation of JPY76.3 billion ($694 million).
Hahn & Co agrees $322m acquisition of SK Chemicals unit
Hahn & Company has agreed to buy the biofuels division of South Korea-based SK Chemicals for KRW382.5 billion ($322 million). It is the private equity firm’s fourth carve-out of an SK Group-owned business.
Capital Dynamics loses Asia primaries head
Kazushige Kobayashi (pictured), a Tokyo-based managing director at Capital Dynamics and head of primaries coverage in Asia, is departing the firm after nearly 10 years.
NSSK sells Japan nursing care business
Japanese mid-market buyout firm NSSK has secured a partial exit from nursing care provider Vati through a sale of the business to an investor group that includes Neuberger Berman.