Australia
Deal focus: Australia's Propeller reaches new heights
Australian big data start-up Propeller Aero raises $10 million round aimed at developing its aerial data analytics software
LP interview: Cbus' Kristian Fok
Recognizing that strong cash inflows were working against a solely outsourced manager strategy in the alternatives space, Australia’s Cbus picked its key asset classes and devised a direct solution
Oaktree-backed DDH1 makes Australian drilling bolt-on
DDH1, an Australian drilling company backed by Oaktree Capital Management, has acquired 100% of domestic counterpart Strike Drilling as part of a platform-based consolidation plan.
Australia-listed Sirtex accepts CDH's $1.4b buyout offer
Australian medical device manufacturer Sirtex Medical has accepted a A$1.9 billion ($1.4 billion) buyout offer from China’s CDH Investments, pulling the plug on an earlier agreement with US-listed Varian Medical Systems.
Blackbird leads $10m round for Australia's Propeller Aero
Blackbird Ventures has led a $10 million Series A round for Propeller Aero, a cloud-based analytics technology supplier focused on drone use in heavy civil and resources industries.
Fund focus: Anacacia eyes middle-market harvest
Anacacia Capital attracts a record amount from foreign LPs as its third Australia mid-market buyout fund closes at the hard cap of $225 million
Australia's Prospa delays trading after $112m IPO
Prospa, an Australian financial technology company backed by a number of local VCs, has raised A$146.5 million ($112 million) in a domestic IPO. Trading of the stock has been postponed, however, amid a regulatory review.
Key person clauses: Man overboard
The complexity of a private equity firm’s key person clauses – and the number of people they encompass – says much about its institutionalization. The transition is not always easy, for GPs or LPs
Bain makes Australia education bolt-on
Bain Capital Private Equity has acquired Australian child care services provider Little Learning School in a bolt-on to existing portfolio company Only About Children (OAC).
Warburg Pincus launches India BPM platform
Warburg Pincus has established an India-based platform for investment globally in business process management (BPM), an area of enterprise services focused on systems modelling and technical consulting.
Lone Star to buy Australia-listed Sino Gas for $402m
Sino Gas & Energy Holdings, an Australia-listed natural gas developer focused on China, has accepted a A$530 million ($402 million) buyout offer from Lone Star Funds.
Deal focus: PEP wins first secure assets fund deal
Pacific Equity Partners has teamed up with Landis+Gyr to buy Origin Energy's Australia smart meters business. They plan on bankrolling - through fund and co-investment - a nationwide rollout
Wine in China: Nurturing the vine
Private equity interest in wine is set to increase as its role in the China luxury goods thesis comes further into focus. Culture, character, and copycatting will be at the top of investors’ strategic agenda
Australia's Anacacia closes third fund at $225m
Australian private equity firm Anacacia Capital has closed its third middle-market fund at the hard cap of A$300 million ($225 million), following an oversubscribed fundraising process.
Partners Group commits $530m to Australia renewables platform
Partners Group has agreed to invest A$700 million ($530 million) in an Australian renewable energy platform with plans to advance an existing wind power project.
PEP, Landis+Gyr to acquire Australia smart meter business
Pacific Equity Partners (PEP) and Landis+Gyr, a Switzerland-based technology supplier to the electricity industry, have agreed to jointly acquire Australian smart meter company Acumen for A$267 million ($202 million).
Navis, Blackstone to exit Australia's NLV to private equity JV
Navis Capital Partners and The Blackstone Group will exit National Lifestyle Villages (NLV), an Australian developer and operator of mobile home parks, to Serenitas, a joint venture between Singapore’s GIC Private and local GP Tasman Capital Partners....
Australia's Santos rejects EIG buyout offer
Australia-listed oil and gas supplier Santos has rejected a buyout offer from EIG Global Energy Partners backed by China-based private equity firm Hony Capital and gas distributor ENN Group. The deal would have valued the company at up to $10.9 billion....
San Francisco pension fund backs China's SBCVC - update
San Francisco City & County Employees’ Retirement System has committed $25 million to SBCVC’s sixth China fund, which has a target of $500 million. The GP closed its previous VC vehicle at $459 million in 2016.
Australia's Healthscope rejects PE takeover bids
Australian hospital operator Healthscope has rejected buyout offers from Brookfield Asset Management and a consortium led by BGH Capital that valued the company at A$4.4 billion ($3.3 billion) and A$4.1 billion, respectively.
Bain makes $613m bid for Australian skincare business
Bain Capital Private Equity has made a A$810 million ($613 million) buyout offer for BWX, an Australian manufacturer of branded skin and hair care products.
Hony backs $7.8b EIG bid for Australia's Santos
EIG Global Energy Partners has made a $10.4 billion buyout offer for Australia-listed oil and gas supplier Santos. It is supported by two Chinese groups, private equity firm Hony Capital and gas distributor ENN Group.
Australia's Westpac invests $37m in Reinventure
Australia’s Westpac Banking Corp has committed A$50 million ($37 million) to the third fund of its venture capital unit Reinventure.
Brookfield enters the fray for Australia's Healthscope
Brookfield Asset Management has submitted a A$4.35 billion ($3.3 billion) bid for Australian hospital operator Healthscope, trumping an offer made last month by a BGH Capital-led consortium.