Regions
Adveq establishes third Asia office
Adveq has opened an office in Hong Kong, its third in the region. The move comes after the asset manager announced plans in January to increase its investment in China to RMB3.5 billion ($554 million) over the next two years.
Lok Capital ups stake in Ujjivan MFI, Bellwether exits
Lok Capital has reportedly upped its stake in India’s Ujjivan Microfinance by acquiring the 7% held by microfinance investor Bellwether. Another shareholder is set to exit its stake by the end of August.
MBK agrees $1.1b deal for Korea’s Woongjin Coway
MBK Partners has agreed to pay KRW1.1 trillion ($1.1 billion) for a 31% stake in Woongjin Coway, the water purifier business of South Korean conglomerate Woongjin Holdings. It is the country’s joint-largest private equity transaction this year and brings...
China slowdown hampers emerging markets fundraising, investment
Fundraising by private equity firms focused on emerging markets reached $17.2 billion in the first six months of 2012, or nearly half of the $38.5 billion raised in 2011 as a whole, with a spike in emerging Europe counterbalancing a slowdown in China....
VC firm leads $6m App Annie Series B round
App Annie, the service provider of app store analytics and market intelligence for the global app economy, has raised $6 million in Series B financing led by Greycroft Partners. China’s IDG Capital Partners, the lead investor in the previous funding...
Fosun expresses support for Focus Media take-private
China's Fosun International, Focus Media’s second-largest shareholder, with a 17.2% stake, said the recent take-private proposal for the Shanghai-based advertising company by a private equity consortium is an attractive option for shareholders. Fosun’s...
General Atlantic exits Infotech Enterprises for $36m
General Atlantic Partners – through its entity GA Global Investments – has sold 11.7 million shares, or a 10.48% stake, in Infotech Enterprises to Cyprus-based company Gagil FDI for INR2.01 billion ($36.2 million).
FountainVest backs LJ International’s privatization
Fountainvest Partners, the Shanghai-based private equity fund founded by former Goldman Sachs and Temasek dealmaker Frank Tang, has teamed up with Yu-Chuan Yih, CEO of Nasdaq-listed jeweler LJ International, to take the company private.
Mengniu in talks to buy KKR-backed Modern Dairy - report
Hong Kong-listed China Mengniu Dairy, the country’s largest dairy producer, has reportedly held talks to acquire China Modern Dairy, the raw milk supplier in which KKR Asia Fund owns 24%.
Goldman sells Japanese contractor for $636m
Goldman Sachs has sold Japanese contractor Fujita Corp to local home builder Daiwa House Industry for JPY50 billion ($636 million), representing an exit from one of its longest investments in the country.
Quadrant and Ironbridge complete Australian retail buyout
Australian private equity groups Quadrant Private Equity and Ironbridge Capital have realized a buyout of specialized retail businesses Super A-Mart and Barbeques Galore.
Carlyle picks up 14% of Meinian Onehealth
Global private equity major The Carlyle Group has acquired a 13.5% stake in Meinian Onehealth Healthcare, the largest private provider of preventive healthcare check-up services in China.
Clove Capital achieves over 20x from Energy Best exit
Clove Capital has achieved a cash multiple of more than 20x through its divestment of Philippines-based oil company Energy Best to Peak Oil and Gas, a wholly-owned subsidiary of ASX-listed Raisama Energy.
Goldman, NEA invest in India’s Nova Medical Centers
Goldman Sachs and New Enterprise Associates (NEA) have invested INR 3 billion ($54 million) in Nova Medical Centers, an Indian surgical care and fertility clinics company. The investments will be used to expand the company's specialty surgery and fertility...
PCCW to invest $25m in Vision Knight Capital
PCCW, Hong Kong’s biggest telecommunications operator, said in a statement to the Hong Kong Stock Exchange that it may invest as much as $25 million in Vision Knight Capital, a private equity fund co-founded by David Wei, former CEO of Alibaba.com.
Focus Media receives $3.5b buyout offer from PE players
US-listed Focus Media has received a $3.5 billion offer from its chief executive and a group of private equity giants to take the company private. If the deal goes through, the leveraged buyout could be China's largest, and Focus Media could be the largest...
Blackstone offers Chinese version of website
Visitors to global buyout giant The Blackstone Group’s website will now be able to access content in Chinese, as well as in English and Japanese.
SBI, Macquarie pump $150m into Ashoka Buildcon unit
Two private equity funds managed jointly by State Bank of India and Macquarie Bank of Australia have agreed to invest $150 million in the road construction division of Indian roads and bridges operator Ashoka Buildcon.
Oz law firm appoints PE expert
Australian law firm Corrs Chambers Westgarth has hired private equity lawyer Philip Kapp to be a senior partner. Kapp claims to have been involved in almost every major Australian PE deal since 2000.
IndoUS Ventures backs online furniture retailer
IndoUS Venture Partners has invested $1 million in UrbanLadder.com, an Indian online furniture store run by Bangalore-based Descasa Decor Online. The company will use the capital to enhance its technology and customer service infrastructure.
Tata Capital in talks with PFC to launch $1b PE fund
Tata Capital is reportedly in talks with India’s Power Finance Corporation (PFC) to launch a $1 billion private equity energy fund. The private equity player will own 49% of the joint venture, with the remainder held by PFC. Around $300 million is expected...
India Innovation Fund invests in India’s iKen Solutions
India Innovation Fund (IIF) has invested in iKen Solutions, a research spin-off of The Indian Institute of Technology in Bombay. The investment will be used to scale up the company’s execution and commercialization capabilities.
Shareholder revolt at Actis-backed Halonix - report
Shareholders at halogen bulb and lamp manufacturer Halonix have reportedly complained to India’s market regulators that the company has violated the country’s Foreign Exchange Management Act.
PE-backed hiSoft merges with VanceInfo
hiSoft Technology International, a major China-based company backed by investors including Wellington Management, Crosslink Capital and HarbourVest Partners has merged with VanceInfo Technologies.