Asia
LionRock acquires UK shoe brand, targets China expansion
LionRock Capital, an Asian private equity firm that invests in global consumer brands with a China growth angle, has agreed to acquire a majority stake in British shoe brand Clarks.
Carlyle Asia fund supports $2.3b Siemens carve-out
The Carlyle Group’s Asia buyout fund has joined its European counterpart in the EUR2 billion ($2.3 billion) acquisition of Flender, a Siemens subsidiary that manufactures mechanical and electrical drive systems commonly used in wind turbines and industrial...
Hong Kong's MindWorks seeks $150m for Fund IV
Hong Kong-headquartered VC firm MindWorks Capital expects to launch its fourth fund in the first half of next year with a target of $150 million.
TCDRS backs trio of Hillhouse funds
Texas County & District Retirement System (TCDRS) has put $200 million towards Hillhouse Capital’s latest Asia fundraising effort, committing to three separate funds.
Asian GPs favor Singapore after Cayman as fund domicile - survey
Singapore would be the jurisdiction of choice for Asia-based private equity managers if they could no longer domicile their funds in the Cayman Islands, according to a survey by law firm Walkers.
LP interview: Hermes GPE
Hermes GPE is leaning into Asia as the region proves relatively successful in deflecting COVID-19. This entails a greater focus on growth capital, country funds, and defensive sector targeting
Proterra supports plant-based egg start-up's Asia rollout
A consortium led by Proterra Investment Partners has committed $100 million to the establishment of an Asian unit of Eat Just, the company behind the US vegan egg substitute brand Just Egg.
OTPP leads $360m round for Asia data center business
Ontario Teachers’ Pension Plan (OTPP) has led a $360 million equity investment in Singapore-based data center developer Princeton Digital Group (PDG).
Asia fundraising: Be prepared
LPs are becoming more flexible in their due diligence, in certain cases backing managers where there has been no face-to-face interaction, but COVID-19 has underlined the importance of pre-fundraise engagement
AVCJ Awards 2020 - voting has closed
Voting for the 2020 AVCJ Private Equity & Venture Capital Awards has now closed. Many thanks to all who participated. The winners will be announced on November 19.
Hillhouse targets $12b for separate buyout, growth funds
China's Hillhouse Capital has split its current fundraising effort into separate buyout and growth strategies – having raised a single pool in the previous vintage – and is seeking $12 billion across the two funds.
3Q analysis: Guarded reengagement
Fundraising focus shifts to China venture, but it’s the same polarization story; upturn in trade and secondary sales suggests the COVID-19 freeze is thawing; healthcare retains its investment appeal
Alternative fund structures: Alternate universe
Irregular fund structures, including single-asset platforms, are often the most appropriate inroad for investors in developing Asia. But it has taken a pandemic to bring them to the fore
KKR beats target in ongoing Asia fundraise
KKR has surpassed the $12.5 billion target for its fourth pan-Asian buyout fund, with a final close expected at the end of this year or early in 2021.
PE-owned Asia data center business trades up after $540m IPO
Bain Capital-controlled data center operator Chindata Group Holdings gained 20% on its NASDAQ trading debut following a $540 million IPO.
PE & Asian banks: Once-in-a-decade opportunity
GPs like targeting banks during downturns, investing in stronger players at discount valuations and backing them to come out the other side with increased market share. Will it be more of the same with COVID-19?
Asia exits: Liquidity lags
Private equity exits – outside of the public markets – are gradually emerging from a COVID-19 hibernation. But sellers must be mindful of timing, structure, and which buyers they are targeting
Corporate VCs & climate change: Good citizens
Increased climate change awareness on a corporate level is leading to more investment – either direct or through funds – in start-ups that offer mitigation solutions. Asia is a key geography
LP interview: Canada Pension Plan Investment Board
For Canada Pension Plan Investment Board, COVID-19 has reinforced the key tenets of its Asia investment strategy, from being flexible on timeline to putting boots on the ground
Coronavirus & infrastructure: Trial by fire
Conservative investors who trust infrastructure for its stability have received a rude awakening with COVID-19. With appetite for the asset class unchanged, it’s time to get smart about risk
Bain's Asia data center platform seeks US listing
Chindata Group Holdings, which claims to be the largest player in emerging markets Asia’s carrier-neutral hyperscale data center industry in terms of capacity in service, has filed for an IPO.
Ex-L Catterton Asia head Ravi Thakran launches SPAC
Ravi Thakran, formerly head of L Catterton’s Asia operation, has launched a US-listed special purpose acquisition company (SPAC) to pursue aspirational consumer brands.
Vision Fund leads $100m Series C for Singapore-founded Biofourmis
SoftBank Vision Fund has led a $100 million Series C round for Biofourmis, a Singapore founded and now US-based operator of a health analytics platform.
COVID-19 flexibility can exacerbate PE gender issues
Working from home has been a mixed experience for women in private equity, with greater flexibility counterbalanced by heightened feelings of isolation in environments that are already dominated by men.