North Asia
Jafco in $408m first close for new flagship fund
Japan’s Jafco has achieved a first close on its fifth global venture capital and buyout fund with JPY41 billion ($408 million) in commitments.
New Horizon makes offer for Japan's Sagami
Tokyo-listed kimono retailer Sagami, which is already subject to a tender offer launched by Aspirant Group, has received a competing bid from New Horizon Capital.
CVC buys majority stake in Japan's Hasegawa
CVC Capital Partners has bought a controlling stake in Japanese assisted living, nursery school and cleaning services provider Hasegawa Holdings.
CVC to buy Korean courier Logen from Baring Asia
CVC Capital Partners has agreed to buy Logen, South Korea’s leading courier company focused on small to mid-volume customers, from Baring Private Equity Asia.
TRG opens South Korea office
The Rohatyn Group (TRG), a global emerging markets asset management firm, has opened an office in South Korea.
Private debt: Pulling uphill
Selling Asian LPs on private credit strategies remains difficult for the most part, but fund managers are generally confident that interest in the asset class is set to take off
MBK shelves plan to exit Korea's Coway
MBK Partners has suspended plans to sell its holding in listed South Korean water purifier business Coway because the stock is thought to be undervalued.
Korean LPs back Lindeman's $273m China fund
Lindeman Asia Investment, a South Korea and China-focused PE firm that concentrates on small and medium-sized enterprises, has launched a KRW300 billion ($273 million) fund with backing from domestic LPs.
Carlyle launches tender offer for Money Square Japan
The Carlyle Group has launched a tender offer for Money Square Japan, a Tokyo-listed provider of foreign exchange margin trading services.
Japan's Taiho Ventures backs US cancer drug developer
Taiho Ventures, the newly established VC arm of Japan’s Taiho Pharmaceutical, has participated in a $70 million Series B round of funding for Arcus Biosciences, a US-based start-up that develops cancer drugs.
KKR's acquisition of Korea-based Kim's Club falls through
South Korean retail conglomerate E-Land Group has dropped plans to sell its luxury grocery chain Kim’s Club to KKR after agreeing a separate strategic divestment.
CLSA-backed BayCurrent lists in Tokyo
CLSA Capital Partners (CLSA CP) has made a partial exit from BayCurrent Consulting as the company raised JPY28.3 billion ($272 million) through an IPO on the Tokyo Stock Exchange.
UOB, Orix commit $50m to Vietnam hydropower player
Singapore’s UOB Venture Management (UOBVM) and Japanese financial group Orix Corp. plan to invest $50 million in Bitexco Power Corporation, the largest privately-owned hydropower company in Vietnam.
Korean LPs prioritize yield-generating alternatives - AVCJ Forum
Korean institutional investors are raising their allocations to alternative assets, but a need for yield means they favor assets like private debt and infrastructure over private equity.
Deal focus: Goldman, EastBridge cook up expansion plan
After attempts to grow cross-border struggled, the founder of Korean cookware manufacturer Happycall opted to bring in EastBridge Partners and Goldman Sachs' capital and expertise
KKR's China private equity heads to spin out
David Liu, co-head of Asia private equity and head of China at KKR, and Julian Wolhardt, the regional leader of China, will leave the firm at the end of this year to raise a China-focused fund.
Size matters: Korea's heavily contested buyouts
Korea has delivered some of Asia's biggest private equity buyout opportunities, but the scarcity of these deals means processes are highly competitive and assets are richly priced
Q&A: VIG Partners' Jason Shin
Jason Shin, managing partner at VIG Partners, explains why GPs are gravitating towards the consumer space in Korea, and why company founders are increasingly willing to do business with private equity
Korea exits: Seller central
Foreign buyers and restless chaebols could help deliver more exit opportunities for private equity firms in Korea – provided it is the right asset, at the right price, at the right time
Japan's INCJ invests $7m in domestic materials group
Innovation Network Corporation of Japan (INCJ) has committed to invest up to JPY700 million ($7 million) in a fresh round of funding for domestic industrial materials specialist Nakayama Amorphous.
Cross-border consumer: The Korean wave
Driven by the popularity of music, TV dramas and beauty products, Korea’s cultural cachet has never been stronger. PE and strategic investors want to monetize the phenomenon, for as long as it lasts
Korea VC: Leaps of faith
Korean e-commerce start-ups have seen breakthroughs in fundraising over the last few years, but investors are already concerned about the future of the industry
Aspirant Group to acquire Japan's Sagami
Japanese private equity firm Aspirant Group has committed to a JPY1.2 billion ($12.3 million) investment to take a 54% stake in Tokyo-listed kimono retailer Sagami.
Japan's VC-backed Anydoor acquired by Rosetta
Anydoor, which operates Japanese crowdsourced translation platform Conyac, will be acquired by Tokyo-listed translation services business Rosetta in a cash-plus-stock deal.