Sectors
Creador takes proprietary route to MNC IPO
One of the biggest criticisms leveled at private equity firms that anchor IPOs is that LPs expect them to do proprietary investments. When Saban Capital and Creador Capital performed the anchor role for MNC Skyvision’s $228 million offering earlier this...
Kerogen Capital raises $1b for debut energy fund
Kerogen Capital has reached a final close in excess of $1 billion for its debut energy-focused fund. Investors include North American foundations and endowments, family offices, fund-of-funds, an affiliate of a Middle East sovereign wealth fund, and investors...
A Capital bets on B&O's China growth story
Just three months ago, 87-year-old Danish electronics manufacturer Bang & Olufsen (B&O) announced worse-than-expected third quarter results: revenue was down 7% year-on-year while pre-tax profit fell by 37%. The company blamed poor sales in Europe and...
WinIT Software to raise $5m from PE
WinIT Software, an Indian mobile developer, is planning to raise INR275 million ($5 million) from private equity investors to scale up its operation outside India. A deal is expected to happen in the next 4-5 months.
CVC, Standard Chartered in $850m Infastech exit
CVC Capital Partners and Standard Chartered Private Equity have exited Hong Kong-based fastener manufacturer Infastech to Stanley Black & Decker for $850 million in cash. The strategic investor emerged the victor in a two-round auction process. It was...
CHAMP PE seeks exit from New Zealand's Blue Star
CHAMP Private Equity-owned Blue Star has suspended trading on the New Zealand Stock Exchange in anticipation of an announcement that the business is up for sale. It comes after the struggling communications company said in June that it had won the support...
TPG resumes Billabong pursuit with $712m buyout offer
TPG Capital has renewed its interest in Billabong International, tabling a A$694 million ($712 million) takeover bid for the Australian surfwear manufacturer. The offer is A$147 million lower than the private equity firm’s previous bid for Billabong,...
Carlyle raises $738m in latest China Pacific sell-down
The Carlyle Group has sold $723 million of shares in China Pacific Insurance (CPIC) through a block trade, marking the private equity firm's fifth partial exit from the company since December 2010. Total returns are in excess of $4 billion, putting Carlyle...
Navis sells Nirula's to Indian trade buyer
Malaysia-based private equity firm Navis Capital Partners has sold its 100% stake in Indian restaurant chain Nirula's Corner House to hotel and real estate group A2Z Excursions.
TLG Capital bets on Myanmar cruise company
UK private equity firm TLG Capital is reportedly planning to establish a company that will operate cruises in Myanmar, investing via its holding in Compagnie Fluviale du Mekong, one of Cambodia's oldest river cruise businesses.
STIC exits Jeil Hydraulics for 3.1x return
STIC Investments has exited its stake in Jeil Hydraulics, a Korean manufacturer of hydraulic motors and related components, to Eaton Corporation for KRW30.8 billion ($26.8 million). The investment generated a 3.1x money multiple.
Warburg sues Titan Petrochemicals in Hong Kong
Warburg Pincus has sued portfolio company Titan Petrochemicals Group and some of its executives in Hong Kong’s High Court, citing misrepresentation and breaches of contract. This comes as the debt-laden shipping and oil storage firm continues talks with...
A Capital backs Bang & Olufsen for China growth
A Capital has teamed up with Chinese luxury goods distributor Sparkle Roll to pay $30 million for a 7.71% stake in Denmark's Bang & Olufsen (B&O). The electronics manufacturer is looking to increase sales in China to offset weak demand in Europe and the...
Creador confirms MNC Skyvision investment
Creador Capital has confirmed it invested $28 million in Indonesian pay TV operator MNC Skyvision’s IDR2.15 billion ($228 million) IPO. The committed capital includes $13 million from a co-investor.
CHAMP Private Equity's oOh!media to buy Eye Corp
CHAMP Private Equity’s oOh!media has agreed to buy Eye Corp, Ten Network Holdings’ outdoor advertising business. The deal values Eye at up to A$145 million, of which A$120 million will be paid in cash on completion, with the remainder due in three years...
Carlyle shelves plans to exit Taiwan's Ta Chong Bank
The Carlyle Group is no longer looking to sell its stake in Taiwan's Ta Chong Bank, citing tough global market conditions. The news comes after potential buyer Yuanta Financial reportedly walked away from a deal that valued the lender at up to T$37 billion...
India's Reliance Mediaworks to raise $110m from PE
Reliance Mediaworks (RMW), a Indian film and entertainment services company controlled by billionaire Anil Ambani, has raised INR6.05 billion ($109.7 million) from a foreign private equity fund. The capital will be used to cut debt and for business expansion....
Zhenrong Energy makes offer for Warburg-invested Titan
Guangdong Zhenrong Energy has offered to pay HK$150-200 million ($19.3-25.8 million) for at least 51% of Titan Petrochemicals, the debt-laden shipping and oil storage firm against which Warburg Pincus has asked a court to launch liquidation proceedings....
Indonesia caps foreign ownership of local banks at 40%
Foreign ownership of Indonesian banks will be capped at 40%, although exceptions will be made for listed banks with strong financial health and high levels of tier-one capital. On this basis, it appears that DBS Group’s $7.2 billion bid for Bank Danamon...
CBC backs US-based power solutions provider
China Broadband Capital (CBC) has participated in a $22 million funding round for IntelliBatt, a US-based power solutions provider of power supply and battery monitoring systems. The round was led by Columbia Capital.
Carlyle sees value in mid-market hotels
Marriott to Hilton to Shangri-La, international hotel brands are buys expanding their footprints in China. Among the country’s 600 five-star hotels, more than 500 are still under construction, and average occupancy rates are barely 60%, the lowest in...
Australia's PEP sells Hoyts Distribution to Studiocanal
Pacific Equity Partners (PEP) has exited Hoyts Distribution, the largest independent film distributor in Australia and New Zealand, to European film giant Studiocanal. The private equity retains other Hoyts Group assets, including cinema operator Hoyts...
Warburg Pincus in China car hire play
Two months ago, China Auto Rental was preparing to list on NASDAQ. The car hire provider set a target of $138 million for what would be only the second IPO by a Chinese company in the US this year. The experiences of the first did not bode well: VC-backed...
Plotting the future of China cleantech
Cleantech funds and investment strategies are often difficult to define in China. Some industry participants won’t touch IT, others love it. Some remain wedded to the idea of export-oriented manufacturing, while others loathe it.