Australia
Asahi, PE firms set for legal battle over Independent Liquor sale - update
Japanese beverage giant Asahi has taken legal action against private equity firms Pacific Equity Partners (PEP) and Unitas Capital over its acquisition of New Zealand firm Independent Liquor in 2011 for NZ$1.5 billion ($1.5 billion).
Paine-backed Costa to buy Adelaide Mushrooms
The Costa Group, an Australian fresh produce company backed by global private equity firm Paine & Partners, is to acquire Adelaide Mushrooms. Financial terms of the transaction were not disclosed.
AVCJ Australia webinar takes place Thursday
The opportunities and challenges facing Australian private equity will be discussed by a panel of industry experts at an AVCJ webinar on February 21. It begins at 11 a.m. (2 p.m. AEST) and will last for approximately 45 minutes. Audience members will...
RREEF names Maruf head of Asia Pacific alternatives
Nadir Maruf has been appointed head of Asia Pacific alternative investments at RREEF Alternatives, a unit of Deutsch Asset Management.
Australia’s Advent sees 2.5x return on Locker investment
Advent Private Capital has sold metal products manufacturer Locker Group Holdings to US-based Valmont Industries, generating a 2.5x money multiple on its investment. According to AVCJ Research, the Australian GP acquired an 80% stake in Locker just over...
Australia’s Telstra loses VC unit founder
Deena Shiff, managing director of Telstra’s captive VC unit, has resigned her post to focus on a non-executive career and directorships. She remains as an advisor to the firm and as a board director for investee companies.
Ironbridge-backed FleetPartners to tap debt markets
Fleet Partners, an Australian vehicle-leasing firm backed by Ironbridge Equity Partners and the Government of Singapore Investment Corporation (GIC), plans to raise more than $200 million in debt ahead of its IPO.
Quadrant-owned Virtus Health targets IPO in 2013
Quadrant Private Equity is targeting a A$500 million ($520 million) IPO this year for its portfolio company Virtus Health, Australia's largest fertility business.
Trafigura subsidiary buys Ausfuel from Archer Capital
Archer Capital has exited Ausfuel to Puma Energy, a subsidiary of Trafigura, for a reported cash sum of $650 million. The Australian GP acquired a majority stake in the company from CHAMP Ventures in 2010, paying around A$120 million ($125 million).
China's Cathay Fortune abandons Discovery Metals bid
Cathay Fortune Corporation (CFC), the private equity group founded by Chinese billionaire Yong Yu, has abandoned its A$830 million ($848 million) takeover bid for Australian copper miner Discovery Metals. Discovery shares plummeted as much as 7.5% to...
Australia’s Adventure Capital targets $100m VC fund
Australian VC firm Adventure Capital is targeting around $100 million for its debut vehicle. It has already received $20 million in commitments from high net worth individuals – having signed up its first cornerstone investor in late 2010 – and is...
Australia's IFM enters UK airspace
An investor in Australian airports for 15 years, Industry Funds Management (IFM) - which is owned by 30 domestic superannuation funds - has made its first foray into the global market with the acquisition of a 35.5% stake in Manchester Airports Group...
MGPA pays $111m for Perth office building
Four months since reaching a first close of EUR85 million ($111 million), MGPA Asien Spezialfonds - an Asia-focused real estate fund structured to target German investors - has committed close to exactly that amount for its maiden investment in Australia.
OTPP in running for Leighton asset – report
Ontario Teachers' Pension Plan (OTPP), Canada’s third-largest pension fund, is reportedly among the final bidders for NextGen, the fibre-optics business being sold by Australian contractor Leighton Holdings. The deal could be worth as much as A$870...
Summit Partners to invest $25m in The Iconic
Summit Partners is expected to invest $25 million into Australian fashion online retailer, The Iconic.
MGPA in $111m Australia office building deal
MGPA, a private equity real estate investment firm, has paid A$105.67 million ($111 million) for a Grade A office building located at Perth. This is the first investment made from MGPA’s EUR500 million ($639 million) Asia property fund, a vehicle structured...
Australia’s IFM takes stake in UK airport operator
Industry Funds Management (IFM), an investment firm owned by 30 Australian superannuation funds, has acquired a 35.5% stake in Manchester Airports Group (MAG) as part of the UK airport operator’s GBP1.5 billion ($2.4 billion) acquisition of London Stansted...
Creditor meeting brings closure to CVC's $1.4b Nine loss
Creditors of the ailing Australian TV network Nine Entertainment have unanimously approved the company's A$3.4 billion ($3.5 billion) recapitalization, bringing a formal end to CVC Capital Partners' six-year stewardship. The private equity firm has lost...
Australia’s Anacacia in healthcare MBO
Anacacia Capital has acquired Hills Healthcare Equipment from its Australian Securities Exchange-listed parent Hills Holdings through a management buyout. The value of the transaction was not disclosed.
Ironbridge sells NZ-based EnviroWaste to Cheung Kong Infrastructure
Ironbridge Capital has agreed to sell EnviroWaste, New Zealand’s second-largest waste services business, to Hong Kong’s Cheung Kong Infrastructure Holdings for NZ$490 million ($412 million). The Australian private equity firm acquired EnviroWaste...
MH Carnegie buys majority stake in Australia's Assetic
MH Carnegie, an Australian private equity investor, has acquired a 55% stake in Assetic, a Melbourne-based technology firm, for A$10 million ($10.6 billion).
Billabong receives takeover bid from Altamont, VF Corp
Altamont Capital Partners has teamed up with US apparel company VF Corp. to submit a rival takeover bid for Billabong International. The consortium is offering to pay A$1.10 per share in cash – or A$527 million ($555 million) – for the Australia surfwear...
Catalyst acquires RBI Australia
Catalyst Investment Managers has acquired Reed Business Information Australia (RBIA) from parent company Reed Elsevier. RBIA, a local unit of the B2B publisher's Reed Business Information (RBI) division, owns titles including Money Management, Australian...
Riverside invests in Australian military training company
Riverside has invested in Bohemia Interactive Simulation, an Australian company which provides military training simulation technology.