Sectors
PE bets on Asia's growing food demand
Food assets – notably fresh produce – are increasingly attractive to private equity firms as they potential trade sale exits to Asian corporates looking to satisfy rising domestic demand
IFC backs Saratoga-led investment in power producer
International Finance Corp. (IFC), the World Bank’s investment arm, has paid up to $25 million for an 11% stake in Indonesian electricity producer Medco Power International (MPI). It is part of a $112 million investment by a Saratoga Capital-led consortium...
Billabong rejects improved $904m offer from TPG
TPG Capital has increased its takeover bid for Billabong International by 10% to A$841 million ($904 million) but the Australian surfwear company is still not interested. It said that the increased price of A$3.30 per share, up from A$3 per share, doesn’t...
JSM Corp seeks $30m in PE funding
JSM Corp., the Indian franchisee for Hard Rock Café, California Pizza Kitchen and Trader Vic’s, is hoping to raise INR1.2-1.5 billion ($24 million -$30 million) from private equity investors.
Mandarin Capital achieves 3x return on Euticals exit
Mandarin Capital Partners has sold more than half of its stake in Italian pharmaceutical ingredient maker Euticals, netting a return of three times of its initial investment - a record for Chinese private equity outbound investment.
Longreach reaps 60% IRR on Sanyo Logistics sale
The Longreach Group has reaped an IRR of 60% and a money multiple of around 2.5x on its 24.2 billion yen ($300 million) sale of Japanese logistics company Sanyo Electric Logistics.
Indiareit to launch $500m India fund
Indiareit Fund Advisors, a real estate investor backed by Indian entrepreneur Ajay Piramal, is planning to launch a $500 million offshore fund that will invest in domestic development projects.
Citigroup sells $1.9b stake in Carlyle-backed HDFC
Citigroup has sold its 9.85% stake in India’s largest mortgage lender Housing Development Finance Corp (HDFC) for $1.9 billion. The deal comes three weeks after The Carlyle Group sold part of its stake in the company for a 2x money multiple.
Burrill & Company expands into Taiwan
Burrill & Company, a global financial services firm which focuses on the life sciences industry, is opening an office in Taiwan. Marietta Wu has been promoted to managing director and will lead operations.
Tano, TVS, Wolfensohn back Development Credit Bank
Tano Capital, TVS Capital and Wolfensohn Capital Partners will between them purchase a 10.34% stake in India’s Development Credit Bank for INR1 billion ($20.4 million). They are paying INR47.84 per share, a 1.89% premium to the company’s closing price...
Billabong still in talks with TPG over buyout offer
Talks are ongoing between TPG Capital and Billabong over the private equity firm’s A$765 million ($820 million) takeover bid for the Australian surfwear manufacturer. TPG made a revised offer last week but it was still at the same indicative price of...
Providence-backed WTC bolts on USM Events
World Triathlon Corporation (WTC), the Australian athletic events organizer owned by Providence Equity Partners, has acquired event management company USM Events.
IDFC PE injects $30m into Staragri Warehousing
Infrastructure investor IDFC Private Equity has led a INR1.5 billion ($30 million) funding round for Indian agri-services provider Staragri Warehousing and Collateral Management.
South Korea's Hi-Mart attracts interest from Tesco – report
Hi-Mart, the South Korean electronics retailer that Affinity Equity Partners exited in 2008, is about to change hands once again, with UK retailer Tesco tipped to bid for the asset. Several South Korean retailers are also said to be interested, as are...
Oak Investment backs Chinese online shopping engine
B5M, a Chinese shopping online platform, has raised $7.1 milion through a Series A funding round led by Oak Investment Partners and e-commerce platform operator Giosis Holdings.
CITIC Capital rolls out new VC fund
CITIC Capital, partly-owned by Chinese Investment Corp. (CIC) and CITIC Group, has reached a first close of $60 million for its new venture capital fund. The vehicle represents the private equity firm's first foray into VC.
Red Fort boosts 3C Gurgaon project with $30m
Private equity firm Red Fort Capital Advisors has injected INR1.5 billion ($30 million) into a residential project designed by developer 3C Company in New Delhi, India.
MyFarm launches listed dairy fund
New Zealand dairy farm investor MyFarm Asset Management has launched a specialist investment fund which aims to raise NZ$75 million ($62 million), partly through an IPO on alternative securities exchange Unlisted.
Wen Jiabao's son appointed chairman of China Satellite
Winston Wen Yunsong, son of Chinese Premier Wen Jiabao and co-founder of New Horizon Capital, has been named chairman of state-owned China Satellite Communications Corp (SATCOM).
IncuCapital backs EFactor's expansion in India
IncuCapital has reached an agreement to launch EFactor, a major global entrepreneurial community platform, in India, in a bid to generate business network opportunities for local entrepreneurs.
Quadrant, APN announce outdoor advertising JV
Quadrant Private Equity has agreed to form an outdoor advertising joint venture with APN News & Media worth A$272 million ($289 million). APN had decided further investment was required to support expansion and entered into exclusive negotiations with...
NSSF selects eFront to help improve asset management practices
EFront, a financial software provider to investors in the alternative assets space, has agreed to work with China's National Council for Social Security Fund (SSF).
Asia's aspirational brands: It's how you pick 'em
Should we be surprised that L Capital, the private equity arm of luxury goods giant LVMH, thinks its Asia operations have the capacity to handle a $1 billion fund? Given the scale of consumer sector opportunities in the region, not really. But a more...
High India pharma valuations price PE firms out of the market
With strategic investors drawn to India’s rapidly growing pharma sector, private equity players must either go niche or get out