North Asia
Korea's Bespin Global gets $100m Series D
Korea-headquartered cloud services company Bespin Global has raised a USD 100m Series D round led by a unit of Emirates Telecoms Group.
BPEA EQT cancels purchase of Korea's PI Advanced Materials
BPEA EQT – formerly Baring Private Equity Asia – has pulled out of its planned acquisition of a majority stake in Korea-based industrial films producer PI Advanced Materials from Glenwood Private Equity.
Northleaf launches Tokyo office, targets Asian LPs
Northleaf Capital Partners, a Canada-based asset manager that invests in private equity, private credit, and infrastructure, has opened a Tokyo office to spearhead fundraising activity in Asia and is considering the addition of a Korea presence.
Carlyle sells Japanese snacks maker to D Capital
The Carlyle Group has exited its 100% stake in Japanese snack maker Oyatsu Company for an undisclosed sum to D Capital after a more than eight-year hold.
Korea's Daesung Private Equity raises $85m metaverse fund
Daesung Private Equity, an affiliate of Korean conglomerate Daesung Group, has launched a metaverse-focused fund with KRW 110bn (USD 84.6m) in commitments.
KKR completes tender for Japan's Hitachi Transport Systems
KKR has completed its tender offer for Hitachi Transport Systems, having secured a 51.1% stake in the third-party logistics (3PL) provider at a valuation of JPY 749.5bn (USD 5.4bn).
Japan's Jafco launches buybacks to thwart activist threat
Japanese venture capital firm Jafco has announced a JPY 42bn (USD 305m) share buyback programme that will take out positions held by investors with ties to activist investor Yoshiaki Murakami.
ACE Equity-backed SPAC acquires US electronics player
ACE Convergence Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by Korean PE firm ACE Equity Partners, has completed a merger with US-based electronics manufacturer Tempo Automation. The equity valuation of the business was cut...
Unison Korea targets $680m for Fund III
Unison Capital is targeting KRW 800bn-KRW 900bn (USD 603m-USD 680m) for its third Korea fund, nearly twice what was raised in the previous vintage.
Korea laundry start-up gets $36m Series C
H&Q Korea has led a KRW 49bn Series C round for Korean laundry app provider Laundrygo with support from SoftBank Ventures and Altos Ventures.
ESG: The case for convergence
With ISSB pursuing pre-eminence in sustainability-related financial disclosures and TCFD emerging as a preferred climate framework, investors and investees will have to get more serious about reporting
One size does not fit all in Asia value creation – AVCJ Forum
Replacing portfolio company CEOs is not part of buyout firms’ value creation playbook in emerging markets, the AVCJ Private Equity & Venture Forum heard.
Japan PE sees digitalisation as national imperative – AVCJ Forum
Digital transformation is an urgent social issue as much as an operational one, Japan-focused investors told the AVCJ Private Equity & Venture Forum.
Bain buys Japan fashion business
Bain Capital has agreed to acquire a majority stake in Mash Group, a Japan-based fashion label, for an undisclosed sum.
BPEA EQT, Blackstone, PEP claim top prizes at AVCJ Awards
Baring Private Equity Asia – now BPEA EQT – retained the large-cap firm of the year prize at the 2022 AVCJ Private Equity & Venture Capital Awards as it, Pacific Equity Partners (PEP), and The Blackstone Group claimed two victories apiece.
Glenwood invests $514m in Hanwha's advanced materials unit
Korean carve-out specialist Glenwood Private Equity has agreed to acquire a significant minority stake in the advanced materials unit of Hanwha Solutions, a listed subsidiary of Hanwha Group, for an enterprise valuation of KRW 680bn (USD 514.2m).
Fortress to buy Sogo & Seibu from Japan's Seven & i
Seven & i Holdings, a Japanese retail conglomerate best known as the parent company of 7-Eleven, has agreed to sell department store operator Sogo & Seibu to Fortress Investment Group.
Japan-based microfinance player gets $47m Series E
Gojo & Company, a Japan-headquartered microfinance institution that operates across Sri Lanka, Myanmar, Cambodia, India, and Tajikistan, has raised USD 47.6m in Series E funding.
Carlyle pursues take-private of Japan's Totoku Electric
The board of Japan-based electric wire manufacturer Totoku Electric has endorsed a tender offer from The Carlyle Group that values the company at approximately JPY 38.2bn (USD 261m).
Q&A: BlackRock’s Michael Dennis
Michael Dennis, managing director and head of alternatives strategy and capital markets for Asia Pacific at BlackRock, on co-investment, customisation, and what Asian investors want from alternatives
Altos, Mirae join $85m round for Korea sneaker trading platform
Kream, a Korea-based sneaker reselling business controlled by domestic internet giant Naver, has announced plans to raise KRW 170bn (USD 84m) from Altos Ventures, Mirae Asset, and its parent company.
Deal focus: NSSK builds out drugstore empire
NSSK found a rare succession-driven special situations deal in Japan’s prosperous healthcare space with pharmacy operator Kraft. It is the eight-year-old private equity firm’s largest deal to date
Axiom, Pavilion back Japan climate tech start-up Asuene
Axiom Asia and Temasek Holdings-controlled Pavilion Capital have joined a USD 20m Series B round for Asuene, a Japan-based climate technology start-up that helps companies track carbon emissions.
Bain-led consortium closes tender for Japan's Hitachi Metals
A Bain Capital-led consortium has completed its tender offer for Hitachi Metals – at a valuation of JPY 816.8bn (USD 5.6bn) – 18 months after first submitting a bid for the Japan-based industrial components manufacturer.