Consumer
Australian senate committee to investigate Dick Smith demise
An Australian parliamentary committee will launch an inquiry into the collapse of listed domestic retailers following the demise of Dick Smith Electronics, which was previously owned by Anchorage Capital Partners.
Rocket Internet raises $31.4m for property portal
Emerging markets property portal Lamudi has raised EUR29 million ($31.4 million) from its main backer, Germany's Rocket Internet, and several additional investors.
Black Soil’s Chang Sun postpones China agri fundraise
Chang Sun, the former Asia managing director at Warburg Pincus who co-founded Chinese agriculture start-up Black Soil, has delayed plans to raise a $1 billion PE fund and will instead focus on individual deals.
Singapore's EDBI, TAL Education in $52m round for US-based Knewton
New York-based adaptive learning system developer Knewton has raised $52 million from a consortium of investors including EDBI - the corporate VC arm of Singapore's Economic Development Board - and Chinese education company TAL Education Group.
Apax sells stake in Tommy Hilfiger China JV
Apax Partners and other shareholders in Tommy Hilfiger Asia (TH Asia) have agreed to sell their remaining stake in the company to Philips-Van Heusen Corp (PVH), owner of the Tommy Hilfiger parent corporation, for about $172 million.
China Merchants Bank leads $102m round for Boqii.com
China Merchants Bank has led a $102 million Series C round of funding for Boqii.com, a Chinese social network and e-commerce platform for pet owners.
Deal focus: Investors exit as Tsingda refocuses on domestic IPO
OCBC's mezzanine capital unit and RRJ Capital both secure nearly 3x returns as China-based Tsingda eEdu Corp positions itself for a domestic listing
Navis sells Guardian Early Learning to Partners Group
Partners Group has bought a controlling stake in Australian early childhood education provider Guardian Early Learning Group from Navis Capital Partners at a post-deal valuation of A$440 million ($313 million)
Venturra leads $12m round for Malaysia's KFit
Venturra Capital has led a $12 million Series A round for Malaysia-based gym membership app KFit.
CMC Holdings to buy 30% of Hong Kong-listed Meike
CMC Holdings, an investment platform launched by Ruigang Li, founder of media-focused PE firm CMC Capital Partners, has agreed to buy 29.55% of Hong Kong-listed sportswear manufacturer Meike Holdings.
Alibaba to sell stake in China O2O services platform
Alibaba Group has confirmed it will exit Meituan, the China-based online-to-offline (O2O) services provider that agreed to merge with rival Dianping last year, in order to focus on its own platform.
OCBC’s PE unit exits China-based Tsingda eEdu
Mezzanine Capital Unit (MCU), a PE investment unit under Singapore’s OCBC Bank, has sold its stake in China education service provider Tsingda eEdu, generating nearly 3x return on a $20 million investment made in August 2014.
KKR exits Vietnam's Masan Consumer with over 2x return
KKR has fully exited Vietnam’s Masan Consumer Corp. (MCC), generating a more than 2x return on a $359 million investment made across two tranches in 2011 and 2013.
Australia's Greencross rebuffs TPG buyout offer
Australia-based pet services business Greencross has confirmed it received and rejected a buyout offer from TPG Capital worth around A$720 million ($507 million).
Hony to re-up in China’s Jinjiang International
Hony Capital has agreed to invest an additional RMB599 million ($91 million) hotel operator Shanghai Jinjiang International alongside other financial and strategic investors.
China Merchants Bank to invest in Didi Kuaidi
China Merchants Bank (CMB) has agreed to invest in Chinese ride-hailing app Didi Kuaidi, and to create a strategic partnership with the company as well.
PE-backed Hengyang Cattle set for China reverse merger
Heilongjiang Hengyang Cattle Industry, a Chinese beef processor backed by CDH Investments and other PE investors, plans to list in Shenzhen through a backdoor listing.
Deal focus: Investors see value in China auto disrepair
China Pacific Insurance leads a Series B round for Bochewang, a car-trading platform that transfers damaged vehicles from insurers to rebuilders
Black River PE team goes solo as part of Cargill spin-out
The private equity team of Black River Asset Management, an independently managed alternative investment unit of agribusiness giant Cargill, has spun out to form Proterra Investment Partners.
CPIC leads $30m round for China restored car auction platform
China Pacific Insurance Corporation (CPIC) has led a RMB200 million ($30 million) Series B round for Bochewang.com, a Chinese online auction platform for restored cars.
PE-backed e-Shang boosts Asia footprint through merger
China-based warehousing operator e-Shang, which was founded by two local entrepreneurs in conjunction with Warburg Pincus, has agreed to merge with Asian counterpart Redwood Group as it builds scale towards a public market listing.
SoftBank commits $14.7m to India's Housing.com
SoftBank has invested INR1 billion ($14.7 million) in Indian property listing platform Housing.com.
GPs look to adapt to a fast-changing China
China-focused private equity investors are modifying their investment approaches in the face of a challenging economic environment and ongoing overcapacity issues.
SAIF, Norwest, Accel in $35m round for India's Swiggy
Indian food delivery platform Swiggy has raised $35 million in Series C funding from a group of investors, including existing backers SAIF Partners, Norwest Venture Partners and Accel Partners.