Australia
Institutional investors: Join the club
Tales of large pension funds and sovereign wealth funds gathering in five-star hotels to map out their ultimate dominance of private equity are legion, if perhaps overblown.
CalPERS, QIC agree $764m Asia infrastructure partnership
Australia-based QIC has teamed up with California Public Employees' Retirement System (CalPERS) to create a A$1 billion ($764 million) Asia-Pacific focused infrastructure partnership.
Australia's PE Gateway Group backs messaging service
Australia-based Private Equity Gateway Group (PEGG) has invested in U&Me Communication, a subsidiary of Malaysia’s OM Technology that has developed a mobile messaging platform.
Macquarie consortium to buy Australia telecom tower business
A consortium led by Macquarie Infrastructure & Real Assets (MIRA) has agreed to buy Crown Castle International’s Australia telecom towers business for A$2 billion ($1.6 billion) in cash.
Venture to benefit from Australia investor visa reforms
The Australian government has finalized changes to its significant investor visa (SIV) program, which will see more capital funneled into domestic venture capital.
EMR serves as cornerstone for Highfield Resources placement
Australian resources-focused investor EMR Capital has served as cornerstone investor for listed mining company Highfield Resources' A$120 million ($101 million) share placement.
Australia backs crowdfunding scheme, offers start-up tax breaks
The Australian government has allocated A$7.8 million ($6.2 million) to develop crowd-sourced equity funding (CSEF) and offered tax breaks for start-ups in its latest federal budget.
Deal focus: Canva's simple design wins VC support
When Australian entrepreneur Melanie Perkins taught design in schools, she noticed that students struggled when using traditional software such as Adobe Photoshop and InDesign. Clearly there could be a simpler solution.
Australia's Tank Stream raises $15.8m to back start-ups
Australia's Tank Stream Ventures has raised a A$20 million ($15.8 million) fund to invest in local tech start-ups.
TPG, PAG-owned DTZ to buy Cushman & Wakefield for $2b
DTZ, a property services provider owned by TPG Capital, PAG Asia Capital and co-investor Ontario Teachers’ Pension Plan (OTPP), has agreed to buy industry peer Cushman & Wakefield for an enterprise value of $2 billion.
Babson closes Asia mezzanine fund at $177m
Babson Capital Management has reached a final close of $177.2 million on its latest Asia-focused mezzanine fund.
Quadrant exits New Zealand lender Heartland
Quadrant Private Equity has exited Heartland New Zealand, selling its 8.75% stake in the lender for NZ$53.5 million ($40.1 million) through a block trade.
Australia's portfolio disclosure rule pushed back again
The Australian government has once again deferred introduction of portfolio holdings disclosure legislation that could require domestic LPs to reveal the identity and investments of each PE and VC fund they back.
Australia mezzanine: Compromise solution
The rise of holdco PIK debt has created Australia-based financing structures in which senior lenders and mezzanine providers can coexist. They also offer GPs greater flexibility at what is, for now, an acceptable price
Morning Crest leads $5.1m round for Australia's Airtasker
China's Morning Crest Capital has led a A$6.5 million ($5.1 million) investment in Australian local services marketplace Airtasker.
Australian web design start-up Canva raises $6m
Canva, an Australian platform that allows amateur designers to create web graphics using drag-and-drop tools, has raised $6 million in a fresh round of funding led by existing investors Matrix Partners and Shasta Ventures.
Bain-owned MYOB raises $652m in Australia IPO
Bain Capital-owned accounting software developer MYOB has raised A$833.1 million ($652 million) in its IPO, the largest private equity-backed offering in Australia since Healthscope in July of last year.
Denham platform Auctus offers to buy Australia's Mungana
Auctus Minerals, an Australian mining platform set up by Denham Capital, has submitted a takeover bid for listed miner Mungana Goldmines. It values the business at A$32.5 million ($26 million).
Fund focus: Brandon secures super fund support
With A$78 billion ($61 billion) in assets, AustralianSuper is said to struggle to make fund commitments of less than A$150 million. Yet it is one of several superannuation funds backing Brandon Capital’s latest life sciences VC vehicle, which has closed...
Riverside adds to Australia e-learning platform
The Riverside Company has acquired C-Learning, an Australia-based developer of online education courses, to complement its existing education asset in the country, Learning Seat.
Australia's CHAMP PE hires ex-CVC executive
Australian GP CHAMP Private Equity has hired Graham Brooke, a former executive with CVC Capital Partners, as a managing director based in Sydney.
Ironbridge-owned Eclipx gains on Australia debut after $195m IPO
Australian vehicle financing and management service Eclipx, which is owned by Ironbridge Capital Partners and GIC Private, saw its stock jump 21% on debut following a A$253 million ($153 million) IPO.
CHAMP, Yorkway to buy Australian quantity surveyor
CHAMP Ventures and Yorkway Equity Partners are set to buy a majority stake in Australian quantity surveying company BMT Tax Depreciation in a deal that values the business at around A$65 million ($50.3 million).
Leveraged finance: Coming to America?
It has become increasingly costly for private equity firms to access borrower-friendly US financing for leveraged buyouts in Asia. The US markets are fickle and volatile, but Asian banks are also stepping up