Southeast Asia
Unitas, CCMP set for 3.5x return as Atlas Copco buys Edwards for $1.6b
Unitas Capital will make up to 3.5x its money on Edwards Group after Sweden’s Atlas Copco agreed to buy the specialist vacuum products developer for approximately $1.6 billion, including debt. Unitas and CCMP Capital have owned the business since 2007...
Armstrong commits $30m to Thai solar, biogas projects
Southeast Asian cleantech investor Armstrong Asset Management has committed $30 million to solar and biogas projects being developed by Thailand’s Annex Power. The capital will be used to expand the company’s engineering, procurement and construction...
Singapore's Temasek exits Cheniere Energy
Temasek Holdings has halved its stake in Cheniere Energy, taking advantage of a spike in the US liquefied natural gas (LNG) company’s shares. The Singapore fund sold 9.2 million shares in the second quarter of 2013 at a valuation of $257 million.
Everstone-backed beauty brand VLCC makes Singapore bolt-on
VLCC, the Asian health and beauty brand backed by Indian GP Everstone Capital, has bought an 80% stake in Global Vantaage Innovative Group (GVig), a Singapore-based firm that manufactures personal care and skincare products as well as cosmetics. It is...
Zodius seed funding supports Antuit's US acquisition
Zodius Capital provided $3 million in seed funding to Antuit, a Singapore-headquartered big data and analytics company. A portion of the capital will be used to finance the purchase of Marketwell, giving the company a readymade footprint in the US market....
Quantum-backed Intrepid Mines loses CEO
Brad Gordon, the chief executive of Intrepid Mines - the embattled Australia-listed resources company backed by Hong Kong private equity firm Quantum Pacific - has resigned.
Scentan Ventures takes part in $2m round for Japanese curation app Antenna
Singapore's Scentan Ventures has joined Tokyo-based strategic investor Macromill in investing JPY1.5 billion ($15.5 million) in Glider Associates, the Japanese startup behind smartphone curation app Antenna, for a 25.6% stake.
Northstar buys Singapore's ERA Real Estate in MBO - update
The Northstar Group will buy ERA Real Estate, Singapore’s largest real estate agency, from Hersing Corporation in a deal reportedly worth more than S$100 million ($78.8 million). Jack Chua, former president of ERA, is leading a group of senior executives...
Singapore's GIC refines investment approach
GIC Private, the Singaporean sovereign wealth fund, has recalibrated its investment framework, splitting its portfolio into three strategies intended to strike a balance between its risk and return expectations, long-term investment objectives and desire...
SingTel Innov8 invests $10m in Fab.com
SingTel Innov8 has invested $10 million in online lifestyle store Fab.com as part of an ongoing Series D round of financing. It joins a list of strategic Asian backers as the company plans expansion in the region.
Ex-World Bank president joins Temasek board
Former World Bank President Robert Zoellick has been appointed to the board of directors at Temasek Holdings as the Singapore state-owned investment firm looks to open its first US office.
DBS abandons takeover bid for Indonesia's Bank Danamon
Singapore’s DBS Group has abandoned its $7.3 billion takeover bid for Indonesia’s Bank Danamon after deciding the regulatory hurdles were insurmountable.
Portfolio: CLSA Capital Partners and Indonesia's Sari Wangi
Sari Wangi is Indonesia's largest private tea player. CLSA Capital Partners invested not so much for exposure to the crop as what the company offers as a platform for distributing agricultural technology.
Malaysia's Khazanah in Turkish insurance buyout, Abraaj exits
Malaysian sovereign wealth fund Khazanah Nasional has agreed to pay $252 million for a 90% stake in Turkish health insurer Acibadem Sigorta. The investment facilitates the exit of The Abraaj Group, which held a 50% stake in the business.
Japan's Meiji Yasuda beats PE to Thai Life stake
Japan’s Meiji Yasuda Life Insurance has agreed to buy a 15% stake in Thai Life Insurance for an undisclosed sum, thought to be in the region of $750 million. Other participants in the auction reportedly included the Carlyle Group, KKR and CVC Capital...
Creador set for $105m first close on Fund II
India and Southeast Asia-focused GP Creador is expected to reach a first close of $105 million on its second fund by mid to late August. The full target is $250 million.
Singapore's GIC announces name change
Singapore sovereign wealth fund Government of Singapore Investment Corporation Private Limited has changed its legal name to GIC Private Limited.
Strategics buy Singapore start-ups Techsailor, YFind
Two Singapore-based start-ups – Techsailor and YFind – have been snapped up by strategic investors. This follows last week’s acquisition of VC-backed travel website TravelMob by NASDAQ-listed vacation rental portal HomeAway.
Jungle Ventures secures TravelMob exit
Four years ago, Asia Pacific became the world’s largest aviation market, with 647 million travelers taking flights within the region compared to 638 million in North America. This growth shows no sign of slowing down – in the first four months of 2013,...
Caffeinated returns: Private equity's coffee shop craving
Private equity is already leveraging the growing popularity of coffee shops across Asia. But where is the next frontier – and is it all about the coffee?
Rich man's game: The cost of fundraising in Asia
Asian GPs and fund lawyers are struggling with a demand-supply imbalance. LPs are negotiating more and conceding less - but for all that managers say fundraising costs are going up, lawyers say fees are going down
The problem with Southeast Asian VC
Ahead of last week's AVCJ Singapore Forum, this column was dedicated to the less-loved investment stories in Southeast Asia. VC made the list because, despite offering a similar fundamentals to China and India – rising disposable incomes and mobile internet...
Singapore's Temasek appoints new chairman
Temasek Holdings has appointed Lim Boon Heng as its fourth chairman, succeeding Suppiah Dhanabalan who is retiring after leading the Singaporean sovereign wealth fund for 17 years.
First Reserve-backed KrisEnergy jumps 5% on Singapore debut
KrisEnergy, the Southeast Asia-focused oil and gas exploration and production (E&P) company which counts First Reserve among its investors, rose 5% on its trading debut in Singapore on Friday. The stock closed at S$1.155 after reaching an intra-day high...