Australia
Infrastructure: Patient capital
Australia's IFM Investors has a plan to get long-term equity partners more involved in public-private partnerships. It means persuading superannuation funds to up their risk appetite
Navis sells Australia education business to PEP
Navis Capital Partners has sold Australian educational resources provider Modern Star to local private equity firm Pacific Equity Partners (PEP) at an enterprise valuation of about A$600 million ($433 million).
Australia's Future Fund posts negative return, sells part of PE portfolio
Future Fund has posted its first yearly negative return since the global financial crisis, amid economic chaos caused by COVID-19, and rebalanced its private equity portfolio as part of efforts to avoid “excessive risk.”
Fund focus: Remote diligence underpins Adamantem's first close
Australia's Adamantem Capital launched its second fund shortly before COVID-19 began to escalate, but the first close still features sizeable commitments from new investors that were unable to perform due diligence in-person
Australia's IOOF to buy NAB wealth management arm
Australian financial advisory, investment management and superannuation provider IOOF Holdings has agreed to acquire MLC, the wealth management arm of National Australia Bank (NAB), for A$1.44 billon ($1.03 billion).
Australia's Buildkite hits $144m valuation with Series A
US-based VCs General Catalyst and OpenView have provided A$28 million ($20 million) in Series A funding to Australian enterprise software player Buildkite at a valuation of about $144 million.
Start-up profiles: Sustainability agendas
Early-stage innovators across the region are leveraging both enterprise and consumer-facing models to address sustainability challenges with one eye on rapid commercialization
Quadrant acquires Australia phone mount business
Australia’s Quadrant Private Equity has acquired a controlling stake in Quad Lock, a local smart phone accessories maker focused on device mounts for bikes and cars.
Australia's Blackbird raises $357m for fourth fund
Australia’s Blackbird Ventures has raised A$500 million ($357 million) for its fourth fund and named Atlassian co-founder Mike Cannon-Brookes as chairman.
Australia's PEP closes Fund VI at $1.8b
Pacific Equity Partners (PEP) has reached a final close on its sixth Australia and New Zealand-focused buyout fund at the hard cap of A$2.5 billion ($1.8 billion).
BGH to buy Australia's Village Roadshow for $543m
BGH Capital has agreed to acquire Australian cinema and theme park operator Village Roadshow for A$758 million ($543 million).
Fund focus: Tidal makes early-stage wave
With $21 million in dry powder, Tidal Ventures wants to bring institutional rigor to Australia's seed stage, helping prepare start-ups for Series A rounds
Australia's OneVentures closes credit fund at $57m
OneVentures has reached a final close of A$80 million ($57 million) on a venture debt fund said to be the first and largest vehicle of its kind in Australia.
OMERS acquires 20% stake in Australia's TransGrid
Canada’s Ontario Municipal Employees Retirement System (OMERS) has bought a 20% stake in Australian electricity network operator TransGrid for an undisclosed sum.
Blackbird joins $18m round for Australia's Propeller
Blackbird Ventures has joined a A$26 million ($18.3 million) round for Propeller Aero, an Australian data analytics provider focused on drone surveying at industrial worksites.
Australia: Retail realities
Not all bankruptcies can be blamed solely on COVID-19; neither is private equity ownership necessarily bad news for retailers. As recent experiences in Australia demonstrate, evolution and execution are key
KKR backs Australia environment services player
KKR has made an investment of undisclosed size in GreenCollar, an environmental services provider that helped establish Australia’s carbon credit market.
Deal focus: Cortina goes natural for debut Australia deal
Cross-border PE investor Cortina Capital has backed Australian nutritional supplements producer ATP Science with an eye to China expansion. But establishing brand recognition at home is the first step
Deal focus: Soil Carbon's nascent climate fix
Australian start-up Soil Carbon is developing microbial technology that can be used to limit carbon emissions from crops. Horizons Ventures has provided financial support for the project
Medical devices: Proceed with caution
Medical devices has become a difficult place to invest but potentially all the more rewarding for those willing to take the plunge. Asia is in a prime position globally
PE-owned Australian swimwear brand enters administration
Seafolly, an Australian swimwear and beachwear brand owned by L Catterton Asia, has entered administration, citing the “crippling financial impact” of the COVID-19 pandemic.
Australia cleantech start-up secures $7m
Horizons Ventures – a VC firm controlled by Hong Kong billionaire Li Ka-shing – has joined a A$10 million ($7 million) round for an Australian start-up specializing in fungi-based carbon capture technology.
Bain to buy Virgin Australia
Bain Capital has entered into an agreement to acquire and recapitalize beleaguered airline Virgin Australia Holdings (VAH).
Australia's Canva raises $60m at $6b valuation
Canva, an Australian graphic design platform, has raised $60 million in VC funding, almost doubling its valuation to $6 billion. It attributed the growth to a shift online amid COVID-19.