Consumer
Reliance Capital exits Paytm stake to Alibaba for $41m
Reliance Capital has exited part of its stake in Indian e-commerce and mobile payments start-up Paytm to China's Alibaba Group for INR2.8 billion ($41.3 million).
China chauffeured car service Ucar raises $668m
Chinese chauffeured car service provider Ucar, which is backed by Warburg Pincus and Yunfeng Capital, has raised RMB4.6 billion ($668 million) through a private placement on the National Equities Exchange and Quotation (NEEQ).
CLSA invests in China’s Azoya
CLSA Capital Partners (CLSA CP) has invested in Chinese cross-border e-commerce solutions provider Azoya.
Hosen closes $440m China food and agri fund
China-focused food and agriculture specialist Hosen Capital has closed its third private equity fund at $440 million after eight months in the market. The target was $400 million.
Sequoia leads $30m Series B for Hong Kong's Klook
Sequoia Capital China has led a $30 million Series B funding round for Hong Kong-based travel services company Klook.
Partners Group to acquire 30% of Chinese restaurant chain operator
Partners Group plans to acquire a 30% stake in Affluent Fine, a holding company that operates restaurant chains in China.
Legend Capital leads $12m round for China clothing rental site
Legend Capital has led a $12 million Series A round for Dora’s Dream, an online clothes rental platform based in China.
Alibaba, SAIF invest $200m in India's Paytm
Chinese e-commerce giant Alibaba Group and SAIF Partners have invested $200 million in the online marketplace unit of Indian online payments platform Paytm.
Hony’s healthcare platform launches HK IPO
Hospital Corporation of China (HCC), a hospital operation group established by Hony Capital, has launched a Hong Kong IPO that would see the company raise as much as HK$500 million ($64 million).
China rural e-commerce platform raises $145m
Maihuolang Information Technology, a Chinese e-commerce company focused on selling agricultural products, has raised a RMB1 billion ($145 million) Series A round of funding from several domestic GPs.
Deal focus: GPs target healthy scale
Oaktree Capital Management and Navis Capital Partners are merging Fitness First and Celebrity Fitness in the expectation that scale will be rewarded in Southeast Asia's gym market
China bike-sharing start-up Ofo raises $450m Series D
Ofo, a Chinese bike-sharing company, has completed a $450 million Series D round of funding led by DST Global.
Welkin invests $17m in Chinese camellia oil brand
China-focused PE firm Welkin Capital has acquired a 15% stake in Hunan Guitaitai Camelia Oil Technology, a camellia oil specialty brand listed on the National Equities Exchange and Quotations (NEEQ), for RMB120 million ($17 million).
PE and funeral services: Untapped eternity
Increased urgency around demographic tailwinds in the funeral services space has coincided with a spate of investment activity in recent years. Private equity could be well positioned to play a leading role
Comcast takes full ownership of Japan's USJ, PE firms to exit
Goldman Sachs, MBK Partners, Owl Creek Asset Management and PAG Asia Capital will fully exit Universal Studios Japan (USJ) after Comcast NBCUniversal agreed to buy the 49% of the company it doesn’t already own for JPY254.8 billion ($2.3 billion).
IFM invests Australian fashion retailer
IFM Investors’ private equity arm has acquired a significant minority stake in Colette By Colette Hayman, an Australian retailer of handbags and fashion accessories.
China Lodging to acquire PE-backed Crystal Orange Hotel
China Lodging Group, a US-listed Chinese hotel chain, has agreed to buy Crystal Orange Hotel Holdings, a Chinese boutique operator backed by The Carlyle Group, for RMB3.65 billion ($530 million) in cash.
KKR invests in China’s Gambol Pet Group
KKR has invested in Gambol Pet Group, a China-based company that sells pet food products.
INCJ, First Eastern in partial exit from Japanese airline
Innovation Network Corporation of Japan (INCJ) and Hong Kong-based First Eastern Investment Group have agreed to sell a combined 28.3% holding in Japanese airline Peach Aviation for JPY30.4 billion ($271 million).
IDG, Sequoia form tourism fund with China CYTS Tours
IDG Capital and Sequoia Capital have formed an investment fund with China CYTS Tours Holdings, a Shanghai-listed travel agency, to invest in consumer-related companies that help improve the traditional tourism industry.
Private equity-backed SF Express lists in Shenzhen
China’s largest express delivery services provider SF Express, which is backed by several PE investors, has completed a backdoor listing in Shenzhen that values the business at RMB43.3 billion ($6.6 billion).
Kickstart, BPI invest in Zalora Philippines alongside parent
Kickstart Ventures and BPI Capital have joined their parent Ayala Group to buy a 49% stake in the Philippines business of online fashion retailer Zalora.
Oaktree merges Fitness First Asia with Navis-owned gym business
The Hong Kong and Southeast Asia business of Fitness First, which is controlled by Oaktree Capital Management, has agreed to merge with Celebrity Fitness, a Southeast Asia gym operator owned by Navis Capital Partners.
Permira-owned Sushiro targets $728m Japan IPO
Sushiro Global Holdings, a sushi restaurant chain majority-owned by Permira, is looking to raise up to JPY82.4 billion ($728 million) through an IPO in Tokyo.