Australia
LP interview: Koda Capital
Australian wealth management platform Koda Capital eschews mainstream private equity in favour of more obscure alternatives, but what the firm really wants are managers that understand its needs
Singapore green hydrogen player gets $115m
Singapore-based InterContinental Energy, a company developing green hydrogen fuel projects in Australia and the Middle East, has raised USD 115m from GIC and specialist investor Hy24.
Australia SaaS platform Neara upsizes Series B
Australia’s Neara, a software-as-a-service (SaaS) platform that helps power companies simulate natural disaster scenarios, has closed a USD 24m Series B round featuring Prosus Ventures.
ESG backlash: Turbulent tailwinds
The strong momentum behind sustainable and responsible investment policies globally has begun to ruffle feathers in the US. Asian private equity should recognise this as a relevant warning
Deal focus: KKR makes an impact with GreenCollar
KKR helped GreenCollar take advantage of carbon credit markets that have become increasingly global and economically viable – and it took dozens of employees along for the ride
Paine Schwartz to buy Australia's Costa Group
Paine Schwartz Partners has reached an agreement to acquire Australian fresh fruit and vegetables supplier Costa Group for an enterprise value of approximately AUD 2.46bn (USD 1.58bn).
Australia's PEP buys stake in biogas business from Sims
Pacific Equity Partners (PEP) has agreed to pay AUD 272.1m (USD 174m) for a 50% stake in LMS Energy, a biogas-to-energy and solar renewable energy business held by Australian metals recycler Sims.
KKR exits Australia's GreenCollar to OTPP
Ontario Teachers’ Pension Plan (OTPP) will take full ownership of GreenCollar, an environmental services provider that helped establish Australia’s carbon credit market. This will facilitate an exit for KKR and other unnamed shareholders.
Jungle, Openspace back Singapore e-commerce services player
Singapore-based e-commerce services provider Amp, which was founded by the team behind inventory and order management platform TradeGecko, has raised USD 18.5m in Series A funding.
Apollo continues to trim stake in Australia's Ventia
Apollo Global Management has made its third partial exit this year from Australia-based Ventia Services Group – a maintenance services business carved out from Leighton Holdings in 2014 – with approximately AUD 240m (USD 153m) in proceeds.
Australia's The Growth Fund expected to disband
The Growth Fund, an Australian mid-market private equity (PE) firm, is expected to manage out its current portfolio and then disband
CVC expands into infrastructure with DIF acquisition
CVC Capital Partners has expanded into the infrastructure space with the acquisition of DIF Capital Partners, a Netherlands-headquartered manager with an investment footprint that includes Australia.
Australia’s Anacacia targets up to $290m for Fund IV
Australian middle market private equity firm Anacacia Capital is preparing to launch its fourth fund, telling investors that it expects to surpass the AUD 300m (USD 193m) raised for Fund III but would not exceed AUD 450m.
PEP to buy Australia's Healthia for $168m
Pacific Equity Partners (PEP) has agreed to acquire Healthia, an Australia-based healthcare services provider specialising in physiotherapy, podiatry, and optometry, for an equity value of AUD 260m (USD 168m).
PAG buys Australian hospitality business from KKR
PAG has acquired Australian Venue, which owns a portfolio of pubs, bars, and restaurants across Australia, from KKR for more than AUD 1.4bn (USD 900m).
Australia's Airtree leads round for space tech start-up
Australia’s Airtree Ventures has led a AUD 12m (USD 7.7m) Series A round for HEO Robotics, a local space start-up focused on non-Earth imaging.
TA sells Australia's Honan Insurance to global strategic player
TA Associates has agreed to sell Honan Insurance Group, an Australia-based insurance broker specializing in corporate risk, employee benefits, and strata and real estate insurance, to Marsh McLennan.
IFM backs Australian property technology player
IFM Investors has committed AUD 50m (USD 32m) to Smart Urban Properties Australia (SUPA), which claims to be the country’s first unified services provider of utilities and communications infrastructure.
Mirae Asset acquires majority stake in Australia's Stockspot
Mirae Asset Global Investments has invested about USD 17m in a 53% stake in Stockspot, Australia’s largest robo-advisory.
UK VC firm leads $9.4m round for Australia's Pendula
UK-based Octopus Ventures has led a AUD 14.5m (USD 9.4m) round for Australia-based customer retention platform Pendula.
Australia's Side Stage hits first close on VC fund
Side Stage Ventures, an Australian early-stage investor set up last year, has reached a first close of AUD 15m (USD 9.8m) on its debut fund. The target is AUD 30m.
TPG to buy Australian funeral services provider for $1.4b
TPG Capital has agreed to acquire Australia-listed Invocare for an enterprise valuation of AUD 2.2bn (USD 1.4bn), ending a five-month pursuit of the provider of funeral services and operator of memorial parks and crematoria.
Advent buys Australian fashion brand Zimmermann
Advent International has agreed to acquire a controlling interest in Australia-headquartered fashion brand Zimmerman, facilitating a partial exit for Italy-based private equity firm Style Capital.