Southeast Asia
Headland completes deals in Singapore, South Korea
Headland Capital Partners has taken a minority stake in Miclyn Express Offshore (MEO), which supplies vessels to the oil and gas industry, and backed existing portfolio company Unison eTech (UET) in the acquisition of another South Korean construction...
Aureos invests in Filipino cosmetics retailer HBC
Aureos South East Asia Fund II has purchased a 33% stake in Filipino cosmetics retailer HBC Inc. for $7 million.
PAG raises $900m for Asia special situations fund
PAG has raised $900 million for an Asia-focused distressed asset fund. It follows a wider trend of private equity assuming the special situations role traditionally occupied by hedge funds and debt- or equity-linked capital for companies in need of funding.
Malaysia's Khazanah in running for Turkish hospital owner
Malaysian sovereign wealth fund Khazanah Nasional is reportedly negotiating for a stake in Acibadem, the Turkish hospital group 92%-owned by Almond Holding AS. Almond is a joint venture between Abraaj Capital and Turkey’s Aydinlar family.
Former ChrysCapital MD seeks $350m for new fund
Former managing director of ChrysCapital Brahmal Vasudevan is targeting $350 million for a spin out fund focusing on emerging markets in India and Southeast Asia.
Japan's SBI Holdings launches Cambodia investment fund
Japanese financial group SBI Holdings has teamed with Cambodia’s largest conglomerate Royal Group to launch a private equity investment vehicle predominantly targeting Cambodian companies.
Updated: TPG’s Australia head moves to Singapore
TPG has relocated Ben Gray, head of its Australia operations, to Singapore from Melbourne. He has taken on the role of managing partner and group head for Australia, Japan, Korea and Southeast Asia. Stephen Peel remains the other managing partner for...
Maarten Ruijs: An enduring interest in Asia
Maarten Ruijs, managing partner & chief investment officer of CVC Asia Pacific, reflects on coping with the global economic downturn and explains why he’s in Asian private equity for the long haul
Investors in the dark on Indonesian bank ownership
Indonesia’s status as the most foreigner-friendly banking sector is under threat. One month after regulators announced plans to restrict overseas ownership, stakeholders are still waiting for a resolution
Private equity and the state
The state, particularly in Asian countries, has always played a big role in the private equity industry. While almost all growing regional economies have helped nurture PE through sovereign wealth funds – fueled by foreign exchange and other cash reserves...
GIC reaches agreement with Paulson & Co. over hotel assets
Government of Singapore Investment Corp. (GIC) has reached a settlement with MSR Resorts, a hotel group owned by hedge fund Paulson & Co. Under the settlement, which was approved by a US bankruptcy court judge on Tuesday, GIC will cease its near-term...
Clove Capital targets $250m Southeast Asia growth fund
Clove Capital Partners, a spin out from EMP Global’s Asia business, plans to raise a $250 million growth capital fund that will target mid-size companies in Southeast Asia. It will principally focus on Indonesia, the Philippines and Thailand, with Malaysia...
Northstar closes in on fourth deal for $820m third fund
Northstar Pacific is poised to secure a fourth deal for Northstar Equity Partners III, which recently reached a final close of $820 million. The four transactions are expected to account for around 20% of the fund’s corpus, a source familiar with the...
TPG, Northstar in cross-investment deal
What does it say about the shifting sands in private equity when an Asian GP is able to get a stake in a global buyout firm? Indonesia-based Northstar Pacific has achieved just that through a cross-investment deal with TPG. The US firm will take 10-20%...
PE partnerships – A route into Indonesia
The recently announced TPG-North Star Pacific share swap got me thinking about collaboration between private equity firms. Global PE players have been using local funds to gain access to new markets for some time now, and quite a few have committed capital...
RRJ, Temasek-backed Frac Tech files for $1.15b IPO
RRJ Capital and Temasek Holdings-backed US oil exploration and production company Frac Tech International is looking to raise $1.15 billion on the New York Stock Exchange.
GIC hires J.P. Morgan's Khullar as a fund manager
Government of Singapore Investment Corp. (GIC) has hired Arjun Khullar from J.P. Morgan as a fund manager. Khullar has spent 16 years at the US investment bank, most recently as head of international listings in London. Prior to that, he was co-head of...
Sarona commits $3.5m to Aureos' Southeast Asian fund
The Sarona Frontier Markets Fund I has committed $3.5 million to the Aureos South-East Asia Fund II, a $250 million vehicle targeting Southeast Asia’s small-to-mid-cap businesses.
TPG, Northstar reach share-swap agreement
TPG and Northstar Pacific, the Indonesian buyout group with which TPG already has strong ties, are to do a share swap. TPG will take a 10-20% stake in Northstar, which will then receive a less than 5% interest in the US firm, The Financial Times reported.
Morphlabs gets Series C capital from Japanese, Indonesian investors
Specialty cloud-computer software company Morphlabs has raised $5 million as part of a Series C round of funding from strategic partners BBT of Japan and a private, Indonesia-based investor group. It will use the funds to expand its operations in Southeast...
Temasek hires BofAML executive Tan Chong Lee
Temasek Holdings has poached Tan Chong Lee from Bank of America-Merrill Lynch (BofAML). The sovereign wealth fund confirmed the appointment but didn’t provide details of the role. Sources told Reuters that Tan, who was BofAML’s Southeast Asia head...
Temasek's Charles Ong joins brother Richard at RRJ Capital
Charles Ong, senior managing director of Temasek Holdings, has been “seconded” to newly formed RRJ Capital, run by his brother Richard, who co-founded Hopu Investment Management.
Actis hires new director to manage portfolio companies
Emerging-market investor Actis has appointed Vincent Low, previously a general manager at Momentive Performance, as director of its value creation group.
Private equity's fashion fix
When it comes to capitalizing on rising disposable incomes in key Asian markets, investors are finding the region’s fashion and lifestyle segment in vogue