Southeast Asia
CVC completes partial exit from Malaysian gaming company
CVC has completed a partial exit from Magnum, Malaysia’s largest gaming business, receiving $410 million in cash plus an allotment of shares with an approximate current market value of $157 million.
TPG, Affinity seek IPO exit from Singapore's UTAC
TPG Capital and Affinity Equity Partners are targeting a $400 million IPO for United Test Assembly Center (UTAC), a Singaporean firm that tests and assembles semiconductors. It is likely to be the largest listing in Singapore this year aside from business...
Carlyle invests in emerging markets hedge fund manager
The Carlyle Group will buy a 55% stake in Emerging Sovereign Group (ESG), a US-based hedge fund manager that focuses on emerging markets, including China, India, South Korea and Southeast Asia.
Private equity seeks Southeast Asia consumer plays
Southeast Asia consumer deals are increasingly attractive, but not necessarily easy to do
Carlyle nears first direct investment in Indonesia
US private equity firm The Carlyle Group is closing in on a 25% stake worth $200 million in GarudaFood, an Indonesian food and beverage company, Reuters reported.
Avenue Capital, Harmony seek exit from Indonesian bank
Avenue Capital Group and Harmony Capital Partners, along with other investors, plan to exit a 34.6% holding in Indonesian lender Bank Mayapada Internasional (BMI), Reuters reported, citing sources familiar with the situation. The shareholders are said...
Ho Ching tipped to leave Temasek in summer
The CEO of Temasek, Ho Ching, is likely to leave her position in August, the Financial Times reported, citing people familiar with the situation. Ho has been married to Lee Hsien Loong, Singapore’s prime minister, since 1985. Lee recently became chairman...
GIC names new private equity chief
Government of Singapore Investment Corp. (GIC), Singapore’s leading sovereign wealth fund, has appointed a new private equity head as part of a significant personnel shift that sees younger people move into senior roles.
Samena Capital launches $700m special situations fund
Samena Capital has launched its second special situations fund with a target of $700 million. The company – whose name derives from the regions in which it invests: subcontinent, Asia, Middle East and North Africa – has already received commitments...
RHB battle highlights PE challenges in Malaysia
As private equity in China and India becomes overcrowded, driving up valuations, some funds have broadened their regional focus. Malaysia has generated particular interest, but recent developments suggest that the pickings are likely to be small.
Auction for 25% RBH stake to move forward - report
Abu Dhabi Commercial Bank (ADCB) is reportedly set to move forward with its 25% stake sale in RHB Bank, despite news that two rival banks would launch acquisition bids for Malaysia’s fifth-largest lender. ADCB’s auction process is expected to attract...
Baring makes Singaporean education acquisition
Baring Private Equity Partners Asia has acquired the tertiary education business of Singaporean education and training institution PSB Academy for an undisclosed amount.
Carlyle, Vestar sell down stakes in Asia-focused chemicals firm
Carlyle Group and Vestar Capital Partners sold down stakes in AZ Electronic Materials, an Asia-focused chemicals manufacturer, sending the London-listed company’s stock plunging 10% on Wednesday. Each private equity firm jettisoned a 10% holding –...
Malaysia’s top banks target RHB
Weeks after Carlyle and TPG reportedly teamed to bid for a 25% stake in Malaysian lender RHB Capital, top Malay banks Maybank and CIMB are each looking to make an acquisition bid for the asset, potentially creating the largest banking institution in Southeast...
Bird nests point to opportunities in Vietnam
Vietnam is becoming a popular destination for private equity as evidenced by KKR spending $159 million on a 10% stake in Masan Consumer Corporation as well as the government’s willingness to sell a 20% holding in Vietcombank to private investors. But...
Vehicles of the state
Closely followed yet widely misunderstood, sovereign wealth funds are making a big impression on private equity in Asia
Carlyle, Suntory tipped to buy stake in GarudaFood
Carlyle Group, in partnership with Japanese brewer Suntory, is closing in on a 30% stake in Indonesia’s GarudaFood thought to be worth over $200 million, Reuters reported.
Lee Hsien Loong takes over Lee Kuan Yew as GIC Chairman
Singaporean Prime Minister Lee Hsien Loong has been named chairman of top sovereign wealth fund the Government of Singapore Investment Corp. (GIC), taking over the role held by his father Lee Kuan Yew.
VinaCapital banks on edible birds nests
VinaCapital’s Vietnam Opportunity Fund Limited has paid an undisclosed price for a minority stake in Yen Viet Joint Stock Company, a domestic retailer of edible bird’s nest nutritional products.
Squadron launches $150m vehicle with Finnish pension fund
Global fund of funds manager Squadron Capital has launched the $150 million Keva Squadron Emerging Asia Fund I, fully funded by Squadron professionals and Finnish pension fund Keva. The vehicle will target SMEs in China, India and Southeast Asia, with...
Anafore gets first round of VC funding
Singapore-based Anafore Pte Ltd, the operator of a startup website focused on referral marketing, has secured its first round of funding from three venture investors: Singapore-based BAF Spectrum; Spring Seeds Capital, a subsidiary of startup investor...
Singapore’s Silecs received 16 million from venture consortium
Silecs International Pte Ltd, a developer and manufacturer of advanced Siloxane polymers, has raised $16 million in Series E financing from an investment consortium led by Singapore-based EDB Investments Pte Ltd. Other investors in the group include European...
CVC ramps up focus on Filipino finance
CVC CAPITAL PARTNERS HAS MADE ITS first investment in the Philippines in more than a decade, taking a 15% stake in Rizal Commercial Banking Corporation (RCBC) – the market’s fifth-largest financial player by assets with aspirations of elevating its...
Temasek takes stake in Canadian mining firm
Singaporean sovereign wealth fund Temasek Holding has purchased approximately 11% of publicly listed Canadian mining group Inmet Mining Corporation for CAN$500 million ($511million).