buyout
Kedaara bucks India fundraising trend
It hasn't been a stellar year for India PE fundraising. Driven by a combination of disillusionment over past underperformance and uncertainty about the prospects for the domestic economy, until last week LPs had committed just $1.9 billion to domestic...
Baring Asia completes India Hexaware deal
Baring Private Equity Asia has bought an additional 20% stake in IT and business process outsourcing services firm Hexaware Technologies for INR8.16 billion ($127.8 million) through an open offer.
LPs say Asian GPs lack long-term investment model - AVCJ Forum
Global institutional investors are becoming more cautious in allocating capital to Asian private equity funds, citing the region's weakening economic performance and concerns that GPs’ short-term investment horizons are not beneficial to the broader...
Indian GPs see opportunity amidst chaos - AVCJ Forum
Indian GPs expect the current vintage of country funds to enjoy a favorable investment climate as valuations moderate and competition for deals eases, even though they acknowledge that LP sentiment in many cases remains weak.
PAG eyes Southeast Asia, targets $1b in realizations - AVCJ Forum
PAG, a pan-Asian GP that has so far invested only in China, expects to break into the Southeast Asia market within the next year. Weijian Shan, the firm’s chairman and CEO, added that the team is also on course to realize in excess of $1 billion from...
Carlyle set for another partial exit from Japan's Chimney
The Carlyle Group is set to reap up to JPY14.3 billion ($145 million) through another partial exit from Japanese casual restaurant chain Chimney Corp, after agreeing to subscribe to a tender offer by liquor retailer Yamaya Corp. to acquire a 48.66% stake.
Kedaara closes debut India fund at $540m, rupee vehicle to follow
Kedaara Capital, a private equity firm led by former Temasek India head Manish Kejriwal, has reached a final close on its debut fund at $540 million. A rupee-denominated fund, which will co-invest alongside the US dollar fund on a pro rata basis, is in...
Japan's Polaris exits Nippon Oil Pump to Wendel
Japanese buyout firm Polaris Capital Group has agreed to exit its entire share in Nippon Oil Pump Group (NOP) - a maker of hydraulic pumps and motors - to French listed investment group Wendel.
CHAMP-owned Accolade to acquire NZ wine brands
Accolade Wines, a winemaker owned by Australia's CHAMP Private Equity, has agreed to acquire a portfolio of wine brands from New Zealand counterpart Mud House Wine Group.
Investment: Southeast Asia's family footholds
By most measures, Southeast Asia is under-penetrated by private equity. If deal flow expectations are to be met, investors must tap local networks for openings in and around the family conglomerates
Asia fundraising: Size matters?
While a select group of GPs are able to raise large funds at short order in Asia, the small and mid-cap space is hollowing out. It is in parts cyclical and a function of broader changes in the post-financial crisis LP base
Q&A: PAG's Weijian Shan
Weijian Shan, chairman and CEO of PAG, discusses China exit challenges, dealing with company founders in control investment situations, and picking businesses that are less likely to be swamped by local competition
Exits: Stuck in China
The weak IPO market has left many China PE firms holding assets for longer than expected. While growth deals will remain dominant, there will be change in how and with whom they are done
Five trends worth watching
When we look back at 2013 it will probably be described as a slow year for Asian private equity. Statistics on all major PE activities in the region have fallen substantially.
Headland launches $357m Kreuz takeover offer
Hong Kong- based PE firm Headland Capital Partners has launched a takeover offer for Singapore-listed Kreuz Holdings, a subsea services provider to the offshore oil and gas industry. Under the terms of the proposed agreement, all outstanding shares...
Carlyle buys global real estate platform
The Carlyle Group has completed the acquisition of Metropolitan Real Estate Equity Management (MREEM), a real-estate fund-of-funds business with more than $2.6 billion in capital commitments. Equity for the transaction came from Carlyle's balance sheet...
KKR targets $474m Bis Industries IPO – report
KKR is reportedly planning a December IPO for Australian mining logistics company Bis Industries, with marketing to institutional investors to begin this week.
China Asset Management-led consortium reduces iSoftStone bid
The private equity consortium seeking to privatize US-listed Chinese IT services provider iSoftStone Holdings has reduced its offer for the company following a second-quarter loss and warnings of more difficulties to come. The revised offer values iSoftStone...
Taiwan's Chinatrust to buy Tokyo Star Bank for $530m
CTBC Financial, the parent company of Taiwan's Chinatrust Commercial Bank, is to buy a 98.16% stake in Tokyo Star Bank for JPY52 billion ($530 million) from US private equity firm Lone Star and other creditors-turned-shareholders. It will be the first...
CVC poised to buy China restaurant chain South Beauty - report
CVC Capital Partners is said to be nearing an agreement to buy a majority stake South Beauty Group, a Chinese restaurant chain, for around $300 million.
NYSTRS commits $100m to Carlyle’s fourth Asia buyout fund
New York State Teachers’ Retirement System (NYSTRS) has committed $100 million to The Carlyle Group’s fourth Asia buyout fund. The vehicle, which has a target of $3.5 billion, had raised $1.5 billion as of the first quarter of 2013, with a final close...
Ant Capital acquires Japanese shoe maker MoonStar
Ant Capital has acquired a majority stake in 140-year-old Japanese shoe maker MoonStar from the founding family and other shareholders. Financial details were not disclosed.
Schwarzman bullish on Blackstone's Australia prospects
The Blackstone Group is looking to increase its investments in Australian real estate and private equity, according to Stephen Schwarzman, the firm’s co-founder.
LotusPool targets $125m India fund, IFC to invest
LotusPool Capital, a private equity firm set up by executives from Actis and ePlanet Capital, has received a $15 million commitment from International Finance Corporation (IFC) for its debut fund. The vehicle, which has a target of $125 million, will...