Sectors
CIC-backed EIG shuns US to pursue Hong Kong listing
EIG Global Energy Partners, the US-based energy sector specialist, will delist its investment vehicle from Goldman Sachs’ electronic platform and list in Hong Kong.
Yahoo chairman to step down, future of Asian assets unresolved
Yahoo is replacing its chairman and three other directors as it continues to restructure its business, a process that includes the potential spin-out of its Asia-based assets to a consortium comprising Alibaba Group, Softbank and some private equity players.
Unitas takes a bite out of Babela’s
Everyone loves pizza and chicken wings, and none more so than Unitas Capital. The regional buyout firm, which paid $40 million for a majority stake in Chinese restaurant chain Babela’s last week, plans to kick off its list of operational improvements...
Wolseley exits Freshmax to Maui Capital
From cattle ranchers to fruit and vegetable farmers, PE interest in Australasia’s agricultural space is wide-ranging. In each case, investors are seeking to leverage the perception, particularly in Asia, that produce from Australia and New Zealand is...
Beacon India acquires 1.3% stake in PE-backed construction firm
Beacon India Private Equity Fund, a $200 Million Indian growth capital vehicle, has acquired a 1.3% stake in NCC, a listed construction and infrastructure enterprise backed by The Blackstone Group and ChrysCapital Advisors. The transaction is worth INR216.4...
Sun Media, Harvest Fund to create $800m media fund
Chinese television production firm Sun Media Group has teamed up with Harvest Fund Management to create an $800 million private equity fund that will back local movies.
MCap, IDFC invest $20m in ReGen Powertech
Subbu Subramaniam, who spun out from Baring Private Equity Partners India three years ago to form MCap Fund Advisors, has backed ReGen Powertech in his first pure private equity deal. MCap’s previous investments were PIPE deals for companies including...
Yawadwipa targets $750m buyout of Indonesia’s Bank Mutiara
Yawadwipa, the startup Indonesia-focused merchant banking operation that recently unveiled plans for a $1 billion private equity fund, has express an interest in acquiring state-owned PT Bank Mutiara for around $750 million. The price is based on the...
CalSTRS commits $500m to IFM’s infrastructure fund
California State Teachers’ Retirement System (CalSTRS) has committed $500 million to Australia-based fund-of-funds Industry Funds Management (IFM). The capital will be placed in the firm’s Global Infrastructure Fund, which principally targets assets...
Sun-Apollo invests $15m in Indian housing project
Sun-Apollo India Real Estate Fund has invested INR750 million ($15 million) for a 49% stake in a housing project run by real estate developer Assotech in Gurgaon, India.
PEP conducts due diligence on Spotless
Australia’s Spotless Group has done an about-turn and allowed Pacific Equity Partners (PEP) to conduct due diligence into the cleaning services company. This comes despite the firm previously saying it would only open its books to PEP if it increased...
Sunshine Oilsands postpones Hong Kong IPO roadshow
Sunshine Oilsands, a Canadian oil exploration company backed by Hong Kong private equity firm Cross-Strait Common Development Fund as well as several Chinese state-owned enterprises (SOEs), is postponing its IPO roadshow to sometime next week.
IndiaHomes secures $4 million from existing VC backers
IndiaHomes, a Delhi-based property services company, has received $4 million from existing venture capital backers. The firm is seeking to raise another $6 million in the coming fiscal year.
PICC rolls out $158m industrial fund
The People's Insurance Company of China is reportedly setting up an industrial fund - the name of which suggests it will focus on the defense sector - worth RMB1 billion ($158 million) under its affiliate PICC Capital Investment Management.
BC Partners replaces Fitness First management team
BC Partners has axed the core management team of Fitness First in a bid to prevent its portfolio company sinking under the weight of its high-interest loans.
Lightspeed nears close of $200m China fund
Lightspeed Venture Partners is reportedly nearing a final close of a $200 million China fund, coming after it recently said it was seeking $675million for its new global vehicle.
Hutchison Whampoa to acquire Orange Austria
Hutchison 3G, a unit of Hong Kong conglomerate Hutchison Whampoa, agreed to acquire Orange Austria, a mobile telecommunication company owned by France Telecom and buyout firm Mid-Europa Partners.
Baring injects $100m in RMZ India project
Baring Private Equity Partners (BPEP) has channeled INR5 billion ($100 million) into backing RMZ Corp’s acquisition of an office space project in Bangalore.
Ironbridge mulls IES SBO
Ironbridge Capital is reportedly among the private equity suitors looking to participate in the secondary buyout of CHAMP Private Equity’s International Energy Services (IES).
Warburg Pincus, Oak Hill seek exits from Indian BPO firms
Warburg Pincus and Oak Hill Capital Partners are both lining up exits from Indian outsourcing companies listed in the US. WNS plans to offer 10.5 million new and ordinary shares, which would reduce Warburg Pincus’ holding in the company from 47.84%...
CIC takes minority stake in EIG Global
China Investment Corp. (CIC), the $410 billion Chinese sovereign wealth fund, has bought a minority stake in US-based asset management firm EIG Global Energy Partners.
Swire enters the bidding for Baring-backed Courts Asia
Hong Kong conglomerate Swire is reportedly among the bidders for Baring Private Equity Asia-invested electronics and furniture retailer Courts Asia. The sale could be worth close to $400 million.
Warburg Pincus completes partial exit from Kotak Mahindra
Warburg Pincus completed a public market sell down of part of its holding in India’s Kotak Mahindra Bank on Wednesday. The private equity firm raised about $170 million through the transaction.
Bain, Unitas consider $400m Prestolite SBO
Bain Capital and Unitas Capital are said to have submitted second round bids to purchase China-focused motor manufacturer Prestolite Electric from First Atlantic for around $400 million.