Sectors
Private equity taps Indian water
India is thirsty for capital to ease water shortages. The infrastructure investment opportunity is enormous, but the regulatory environment remains uncertain
Indian realty GPs show their distress
India’s real estate industry is facing tough times amid rising debt costs and tighter credit access. But why are the private equity owners more distressed than the assets themselves?
Navis acquires Malaysia's BIG Cinemas
Navis Capital Partners has acquired a 100% stake in Malaysian exhibition business BIG Cinemas from film and entertainment services company Reliance MediaWorks (RMW).
Carlyle-backed Tsubaki Nakashima drops IPO plan
Tsubaki Nakashima, a Japanese steel ball-bearings maker 95% owned by The Carlyle Group, has called off plans for a $555 million IPO, citing weak market conditions. This is the second time in six months that a Carlyle portfolio company in Japan has tried...
Orix named preferred bidder for Korea's STX Energy
Japan’s Orix Corp. has been selected as the preferred bidder for a significant stake in STX Energy, an unlisted affiliate of South Korean conglomerate STX Group.
China, India companies beat PE to Digital Domain assets
China’s Galloping Horse Film and India’s PE-backed Reliance MediaWorks have teamed up to acquire assets from Digital Domain Media Group, the distressed Hollywood special effects company, for $30.2 million. The Sino-Indian joint venture easily outmatched...
LeapFrog buys 15% of India's Mahindra Insurance for $15m
LeapFrog Investments, a firm focusing on microinsurance for the world's poor, has bought a 15% stake in India’s Mahindra Insurance Brokers (MIBL), for INR804.1 million (nearly $15 million).
INCJ-led consortium may thwart KKR's Renesas pledge
Japanese state-sponsored fund Innovation Network Corp of Japan (INCJ) has formed a consortium with several local companies, which is said to be mulling making an offer of more than JPY100 billion ($1.3 billion) for the unprofitable Tokyo-listed chipmaker,...
Wellington Partners leads $3.4m Series A for AyoxxA Biosystems
Wellington Partners Venture Capital has led a EUR2.6 million ($3.4 million) Series A round of financing in AyoxxA Biosystems, a biotech firm based in Singapore and Germany. The capital will provide AyoxxA with the resources to scale-up production of bead-based...
TA Associates acquires Hong Kong-based SpeedCast for $32m
TA Associates has completed the buyout of SpeedCast, a Hong Kong-based network and satellite communications service provider, from Asia Satellite Telecommunications for $32.2 million. Company management is also participating through ownership of a small...
Carlyle's General Lighting completes Malaysia acquisition
General Lighting (GLC), a Saudi Arabia-based portfolio company of The Carlyle Group, has agreed to buy Davex, Malaysia’s largest lighting fixtures manufacturer and supplier, for MYR183 million ($60 million). The company sees the acquisition as a platform...
Chinese bidder to buy PE-backed KraussMaffei – report
A Chinese machinery group is reportedly in exclusive talks with US-based Madison Capital to buy its German rival KraussMaffei Technologies. The deal - which is likely to fetch as much as EUR700 million ($908 million) - would be the latest in a string...
Fosun backs RHJ acquisition of Deutsche's BHF unit
China's Fosun Group is supporting RHJ International in its latest attempt to buy BHF, a leading German private bank, from Deutsche Bank. For Fosun, it represents an opportunity to secure a presence in the eurozone’s largest economy.
TPG's Billabong rival abandons bid
TPG Capital’s rival bidder for Australian surfwear company Billabong International has dropped out of the running. Billabong only identified the group that offered to match TPG’s A$694 million ($709 million) buyout bid as a private equity firm. According...
Australian PE firm participates in $1b Dubai oil driller deal
Australian GP CHAMP Private Equity has teamed up with its US affiliate Castle Harlan and Lime Rock Partners to invest around $1.05 billion in Dubai-based shallow water drilling services company Shelf Drilling.
Indian Angel Network backs Mexican restaurant
Indian Angel Network (IAN), Asia’s largest business angel investor network, has invested in Poncho, a Mumbai-based Mexican quick service restaurant.
NVP injects another $5m in Appnomic Systems
Appnomic Systems, an Indian IT infrastructure management services company, has raised a $5 million Series C round from Norwest Venture Partners (NVP). The VC firm previously invested $4 million and $2.5 million in the company in 2009 and 2010, respectively....
Japan's DRC nets 1.5x return on Yumeshin exit
Mid-market Japanese GP DRC Capital has exited from its investment in Yumeshin Holdings, an outsourcing service provider in the construction industry, generating a 1.5x return and a gross IRR of 8.3%.
PE firms, sovereign funds support Alibaba's Yahoo buyback
China Investment Corporation (CIC), Boyu Capital, CITIC Capital and CDB Capital participated in a $3.9 billion equity issue by Alibaba Group alongside existing investors including Silver Lake, DST Global and Temasek Holdings. The financing was used to...
IDFC PE invests $28.7m in Indian dairy firm
IDFC Private Equity has invested INR1.55 billion ($28.7 million) in Parag Milk Foods in what could be one of the largest PE transactions in the Indian dairy sector. The proceeds will facilitate a partial exit to Motilal Oswal Private Equity, which invested...
MGPA acquires Australian property for $110m
MGPA, a private equity real estate investment firm, has acquired a property of retail and office spaces located in Sydney, Australia, for A$105.1 million ($110 million).
Warburg Pincus sells extra 4.2% of Moser Baer
Warburg Pincus has offloaded almost half of its remaining shares in listed optical media products maker Moser Baer India through open market transactions, reportedly at a substantial loss.
NBC Capital reaps 20% IRR from Fenix Fitness
When it comes to assisting the growth of their portfolio companies, some PE firms are more hands-on than others. At the more pro-active end of the scale sit the likes of NBC Capital, which during its four-and-a-half-year ownership of local health club...
MGPA reaches first close on real estate fund
The latest fund being raised by MGPA marks a departure from the investment firm’s previous real estate vehicles. MGPA Asien Spezialfonds, which announced a first close on EUR85 million ($111 million) last week, represents the firm’s first so-called yield-focused...