Real estate
TPG, KKR invest $220m in Singapore’s PropertyGuru
Singapore-based real estate portal PropertyGuru has confirmed S$300 million ($220 million) in new commitments from existing backers TPG Capital and KKR.
Deal focus: KKR's Vietnam macro proxy - update
KKR - working alongside Temasek Holdings - is using Vinhomes as a means to get exposure to Vietnam's booming property market. Mergermarket and AVCJ offer some additional industry context
Investcorp leads $56m round for India co-living operator
Investcorp has led a $56 million Series C round for Indian managed co-living accommodation platform operator Zolo.
Baidu Capital leads Series D for China logistics platform
FineEx, a Shanghai-based logistics provider specializing in e-commerce, has raised RMB500 million ($71 million) in a Series D round of funding led by Baidu Capital.
China's Ucommune acquired by US-listed SPAC for $765m
Ucommune, a Chinese co-working space operator that failed to get traction with an attempted New York IPO last year, has been acquired by a US-listed special purpose acquisition company (SPAC) at a valuation of $764.9 million.
Deal focus: KKR's Vietnam macro proxy
KKR's investment in Vietnam property developer Vinhomes is supposed to tap into infrastructure development as well as the home-ownership ambitions of a burgeoning middle class
Hillhouse invests $400m in China data center player
Hillhouse Capital has taken a 3.9% interest in US-listed Chinese data center developer GDS Holdings for $400 million.
Blackstone invests $150m in China's 21Vianet
The Blackstone Group has invested $150 million in 21Vianet, a US-listed Chinese data center developer backed by Singapore’s Temasek Holdings.
ESR raises $1b Korea logistics fund
Pan-Asian logistics investor ESR has raised $1 billion for its second Korea fund with support from APG Asset Management and Canada Pension Plan Investment Board (CPPIB).
KKR, Temasek commit $650m to Vietnam property developer
A consortium led by KKR has invested VND15.1 trillion ($650 million) in Vinhomes, Vietnam’s leading integrated real estate developer, which went public in 2018.
Vietnam’s Propzy raises $25m Series A round
Gaw Capital and Softbank Ventures Asia have led a $25 million Series A funding round for Vietnamese real estate platform Propzy.
Deal focus: Bobobox rethinks budget hotels
Bobobox's flexible solution to accommodation for frontline healthcare workers in Indonesia led to support from the Li Ka Shing Foundation and helped secure a Series A from Li's Horizons Ventures
Warburg Pincus raises stake in Asia real assets fund manager
Warburg Pincus has agreed to increase its ownership of ARA Asset Management – an Asia Pacific real assets fund manager that was privatized in 2016 – as China’s AVIC Trust exited the business.
Tencent, Sequoia invest $244m in property manager Shimao
Shimao Services, the property management arm of Hong Kong-listed Shimao Property, has raised $244 million from Tencent Holdings and Sequoia Capital China.
AirTree backs Australia property intelligence platform
AirTree Ventures has led a A$6 million ($3.9 million) Series A round for Archistar, an Australian online property platform that allows users to click on blocks of land and see what can be built.
Deal focus: SensorFlow’s coronavirus pivot
With hotel occupancy falling - and demand for its energy management solution taking a hit - SensorFlow moved quickly to make the revenue model sustainable. The company is now targeting vertical and geographic expansion
GIC backs $1b Japan data center rollout
Singapore’s GIC Private and cloud services provider Equinix have agreed to jointly invest $1 billion in data centers in Japan.
Openspace, Gaw back Singapore's SensorFlow
Gaw Capital, a Hong Kong-based private equity firm with a real estate focus, and Openspace Ventures have co-led an $8.3 million funding round for SensorFlow, a Singaporean energy management solution provider.
US GP Jaguar acquires China logistics player
US private equity investor Jaguar Growth Partners has launched its first Asia fund with the acquisition of Chinese logistics operator Brilliant.
US GP joins Series C for India’s Stanza Living
US-based Equity International has joined a Series C round of undisclosed size for India’s Stanza Living, a technology-enabled hospitality and student housing services provider.
MSPEA leads $23m Series D for India’s Ummeed
Morgan Stanley Private Equity Asia (MSPEA) has led a INR1.6 billion ($23 million) Series D round for Indian low-income home loans provider Ummeed Housing Finance.
Blackstone buys Chinese Logistics business for $38m
The Blackstone Group has bought 80% interest in Guangdong-based Foshan Ruixin Logistics Management from Chinese conglomerate Dongbai Group for a tentative price of RMB269 million ($38 million).
Deal focus: Counterintuition pays off for NSSK
Japanese mid-market buyout firm NSSK has executed a partial exit of Vati, a small but strong performer in the country’s competitive nursing care space
NSSK sells Japan nursing care business
Japanese mid-market buyout firm NSSK has secured a partial exit from nursing care provider Vati through a sale of the business to an investor group that includes Neuberger Berman.
