Region
PAG special sits fund invests $125m in China property developer
PAG will invest in real estate developer China South City Holdings through the purchase of HK$975 million ($125.6 million) in convertible notes. The proceeds will be used to support properties under development and refinance a portion of existing debt....
Polaris acquires Japanese salon operator
Polaris Capital has acquired a majority stake in Japanese salon and sports club operator Socie World for a reported JPY3 billion ($32 million). The capital came from the private equity firm’s third vehicle, which has so far raised JPY36 billion, just...
NVP pumps another $8m into Pepperfry
Norwest Venture Partners (NVP) has led a second round of funding for Mumbai-based online lifestyle store Pepperfry.com, putting in $8 million.
India's Zephyr Peacock buys 25% of pre-fab buildings maker
Zephyr Peacock India has bought a 25% stake in Pennar Engineered Building Systems (PEBS) for INR500 million ($9.19 million).
Phoenix Capital exits Japan's TEAC to Gibson Guitar
Phoenix Capital has agreed to sell its entire holding in Japanese-listed audio equipment manufacturer TEAC to Gibson Guitar for 4.88 billion yen ($51.9 million).
Billabong halts trading, PE firms said to cut buyout offer
Billabong International halted trading Tuesday amid reports that the two private equity consortiums bidding for the embattled Australian surfwear company would lower their bids.
CITIC PE agrees carve-out of TNT's China road business
CITIC Private Equity has agreed to buy TNT Express’ China road operations for an undisclosed sum. It is one of several divestments expected from the Netherlands-based logistics provider, which is seeking to cut costs and refocus on its core European market...
New Mexico State Investment Council commits to Affinity Fund IV
New Mexico State Investment Council (NMSIC) has agreed to invest up to $75 million in Affinity Equity Partners’ fourth pan-Asia fund. The vehicle reached a first close of $1.5 billion in early March and has a hard cap of $3.5 billion.
IFC may anchor Thailand-focused Lakeshore fund
The International Finance Corporation (IFC) is considering a commitment of up to $20 million to Lakeshore Capital Fund I, a Thailand-focused GP that is seeking to raise $100 million.
TA, Updata to invest in Australian software specialist Nintex
TA Associates and technology-focused GP Updata Partners plan to make a significant investment in Nintex Group, an Australia-based software provider. The private equity firms will support Nintex in its global growth initiatives, including organic expansion...
TPG completes take-private of China's ShangPharma
TPG Capital has completed a management buyout of ShangPharma Corporation that values the Chinese pharmaceutical and biotech research outsourcing firm at $173 million. It is the sixth private equity-backed privatization of a US-listed Chinese company to...
AVCJ to move offices; daily bulletin returns April 2
AVCJ's daily bulletin will take a short break for the Easter holiday, which conveniently coincides with the company’s office relocation.
China Development Financial Holding plans PE fund - report
Taiwan-based China Development Financial Holding (CDFH) is said to be planning a private equity fund that will invest in unlisted companies in local creative industries. This is line with a strategy to strengthen its asset management business while reducing...
China's NDRC seeks tighter grip on private equity
China's top planning body, the National Development and Reform Commission (NDRC), has reiterated its call for private equity funds to register with local governments. It is the latest move in an ongoing turf war over the asset class after the Chinese...
Three Australian VC firms receive IIF backing
Venture capital funds run by M.H. Carngie & Co, GBS Venture Partners and Innovation Capital will receive A$100 million ($105 million) from the Australian government through the Innovation Investment Fund (IIF) scheme. This capital will be matched dollar-for-dollar...
CBC joins Series C round for Pluribus Networks
China Broadband Capital (CBC) has contributed to a Series C round of funding for Pluribus Networks. The capital will be used to help the network virtualization equipment maker to bring its technologies to the Chinese market.
Navis acquires stake in Malaysian IT firm Strateq
Navis Capital Partners has bought a 54.8% stake in Malaysian IT firm Strateq from Kencana Capital. Sources familiar with the situation told AVCJ the deal was valued at MYR35-50 million ($11-16 million), or around 6x forward EBITDA.
Brick eagle to invest $50m in India real estate
Hong Kong-headquartered Brick Eagle Capital Advisory is planning to invest around $50 million in Indian real estate.
Australia VC: New faces
A new generation of VC firms is emerging in Australia, despite little appetite for the asset class from domestic LPs. Success hinges on leveraging Silicon Valley networks and targeting particular market niches
Q&A: Baring Private Equity Asia's Jean Eric Salata
Baring Private Equity Asia closed its fifth fund at $2.46 billion in early 2011. CEO Jean Eric Salata tells AVCJ why the firm has taken its time investing the capital and where he now sees value emerging in the market
Indonesia webinar: Turning hype into returns
Indonesia has emerged as the next big thing in Asian PE, but there are concerns about rising valuations and whether the market is deep enough to meet expectations. Industry participants share their views
On rocky ground: PE's Mongolia risk factor
Rich in mining resources, Mongolia has a bright economic future, but vulnerability to commodity price shocks and an uncertain political climate have made many investors wary of taking the risk
Mekong trims Mobile World stake, looks to IPO
Is Mobile World the next Masan Consumer Corp? The as yet unnamed private equity firm that picked up part of Mekong Capital’s stake in the Vietnamese mobile phone retailer is certainly hoping so.
LGT opens Beijing office as part of differentiation drive
LGT Capital Partners has chosen Beijing as the location for its fourth investment office globally as the firm looks to differentiate its exposure to Asia’s largest private equity market in an increasingly competitive fund-of-funds space.