Sectors
Morgan Stanley-backed Hyundai Rotem gets green light for IPO
Hyundai Rotem, a South Korean railway vehicle manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has received approval to list on the Korea Stock Exchange. It will likely be the country’s largest share offering so far this year and the...
Oaktree Cap invests $20m Indian pharma packager
Oaktree Capital Management has bought a 60% stake in Cogent Glass for around INR1.2 billion ($20.6 million). As part of the deal, Cogent has signed an agreement with Oaktree portfolio company SGD for technology sharing as well as marketing and management...
Safety first: Investing in China's food supply chain
Driven by rising disposable incomes and lower confidence in food safety, Chinese consumers are willing to pay a premium for quality. PE firms have identified the opportunity, but taking it can be difficult
CapVent taps into Indian water market
Access to potable water is limited in India with groundwater in one-third of the country’s 600 districts tainted by high levels of fluoride, iron, salinity and arsenic. Meanwhile, tap water is mostly undrinkable.
Navis plugs into Southeast Asia energy demand
Southeast Asia's hunger for energy cannot be overstated. Of the region’s 600 million inhabitants, a staggering 160 million live without electricity. According to a report published last year by the National University of Singapore’s Energy Studies...
Portfolio: India Value Fund Advisors and Meru Cabs
When India Value Fund Advisors launched Meru Cabs in Mumbai, it created a radio taxi service where none existed. Meru has overcome numerous difficulties to become the largest taxi company of its kind in India
China e-commerce logistics: The missing link
China’s fragmented logistics industry is a problem for e-commerce companies as they attempt to provide customers with a better quality service. Should they build competencies in house? Should PE help them?
DEG invests $12m in Indian hospital chain
German Investment and Development (DEG), a development finance institution, has invested INR700 million ($12 million) in the Ivy Healthcare Group which runs a chain of super specialty hospitals in the north Indian state of Punjab.
Apollo exits Welspun Maxsteel stake to promoter
Apollo Global Management has sold a 12.5% stake in India’s Welspun Maxsteel Limited (WMSL) to parent company Welspun Corp at a 30% discount to the fair market value. It’s the second part of a larger INR22.5 billion ($502.9 million at the time) deal...
PE investors move to liquidate Ambow, call for CEO to resign
New York-listed Chinese tutoring and training services provider Ambow Education Holding could face a winding up order after a court appointed liquidators to assume control of the company. Avenue Capital, Ambow’s largest institutional shareholder, instigated...
Japan's Marubeni scales back deal for PE-owned Gavilon
Marubeni has scaled back its offer for General Atlantic-owned US grain trader Gavilon by $1 billion after cutting the company's energy trading arm out of the deal.
Quadrant-backed Virtus Health jumps 9% on ASX debut
Shares in Virtus Health, an Australian in-vitro fertilization company backed by Quadrant Private Equity, closed up 9% at A$6.20 on its first day of trading on the Australian Securities Exchange. The IPO had been priced at the top end of the indicative...
Qualcomm leads Series C for Chinese online English education start-up
Qualcomm Ventures has led a Series C round of funding for Shanghai-based online education company Alo7. The capital commitment is believed to be up to $10 million.
Mandarin Capital-backed Chinese credit rating JV to operate in Europe
Dagong Europe Credit Rating, a joint venture between Beijing-based Dagong Global Credit Rating and Mandarin Capital Partners, has won approval from the European Securities and Markets Authority (ESMA) to operate in Europe. It will become the first Chinese...
GIC in $50m partial exit from India's Adani Ports
Government of Singapore Investment Corporation (GIC) has sold part of its 1.78% stake in India’s Adani Ports & Special Economic Zone (APSEZL) for INR2.9 billion ($50.6 million).
Silicon Valley angels end first SE Asia tour in Indonesia
The Geeks on a Plane (GOAP) tour organized by Silicon Valley-based accelerator 500 Startups reaches its final leg in Indonesia this week. This is the first time one of the trips has focused specifically on Southeast Asia.
Intel Capital commits $16m to Asia e-commerce
Intel Capital, the VC arm of Intel Corp, has invested a total of $16 million in Asia e-commerce, backing India's Snapdeal.com and Bright Lifecare, while upping its stake in Singapore's Reebonz.com. It did not disclose the size of individual commitments.
Korea’s STX Pan Ocean files for bankruptcy after PE rescue fails
STX Pan Ocean, South Korea’s largest bulk shipping group, has filed for court receivership after attempts to secure a private equity-led restructuring of the beleaguered business failed.
China’s LightInTheBox raises $79m through US IPO
VC-backed Chinese online retailer LightInTheBox saw its stock jump 22% on its first day of trading in New York, following an IPO that raised $79 million. It is the first Chinese company to go public in the US this year, and only the second to make the...
Dalian Wanda to buy PE-owned UK yacht maker – report
Dalian Wanda Group is expected to buy Britain’s largest luxury yachtmaker Sunseeker - currently owned by Irish private equity firm FL Partners - for EUR300 million ($400 million).
Snapdeal partners with eBay, closes $50m funding round
Indian online retailer Snapdeal has raised $50 million from lead investor eBay, Intel Capital, Saama Capital, Russian VC ru-Net and Japan’s Recruit Holdings. Existing investors Bessemer Venture, Nexus Venture Partners and Kalaari Capital also participated...
IFC to lend $70m for Everbright Chinese water project
International Finance Corporation (IFC), the investment arm of the World Bank, will lend $70 million to China Everbright International to build three water plants in China.
Regulator blocks Anacacia exit of Rafferty’s to Heinz
Anacacia Capital’s sale of baby-food producer Rafferty’s Garden to H.J. Heinz has been blocked by the Australian Competition and Consumer Association (ACCC). The regulator decided that the transaction would give Heinz an unfairly dominant market position.
China Asset Management backs $332m iSoftStone take-private
Chinese IT services provider iSoftStone Holdings has received a take-private proposal from its CEO and chairman, who is working in conjunction with ChinaAMC Capital Management, an alternative investment platform affiliated to fund management company China...