buyout

Maine PERS commits $30m to Affinity’s fourth Asia fund

Affinity Equity Partners has secured a $30 million commitment for its fourth pan-Asia fund from the Maine Public Employees’ Retirement Systems (Maine PERS). It was one of four investments, each of the $30 million that the $11 billion pension plan announced...

IDG-Accel China in take-private bid for US-listed Memsic

IDG-Accel China has submitted a takeover bid for NASDAQ-listed Memsic that values the semiconductor manufacturer at $96.8 million. The prospective investor would like to work with Yang Zhao, Memsic’s founder and CEO, to formulate a definitive proposal...

Anacacia seeks Aussie SME buyouts

With the established participants in Australia’s lower mid-market having graduated to fund sizes of A$250 million or more as they progressed through the cycles, and many smaller players struggling to raise money, Anacacia Capital finds itself in less...

auction-gavel-dollars
Auctions: The new normal

Private equity firms love selling assets via auction but hate buying them through such channels. As Asian company owners become more sophisticated, bidding contests for large assets are becoming more frequent.

Australia’s Anacacia reaches $129m second close

Australian GP Anacacia Capital has arrived at a second close of A$125 million ($129 million) for its second fund. The private equity firm has already exceeded its target of A$100 million and is on course to reach its hard cap of A$150 million.

Australia’s PEP targets $3.6b for Fund IV

Pacific Equity Partners (PEP) is targeting up to A$3.5 billion ($3.6 billion) for its fifth fund, including A$2 billion of core equity and a further $1-1.5 billion earmarked for a co-investment pool.

Billabong director explores buyout options

Billabong shares spiked 17% during Monday morning trading in response to the Australian surfwear company announcing that one of its directors was looking at a possible leveraged buyout. TPG Capital and Bain Capital both submitted bids of A$694 million...

Advent raises $10.8b for new buyout fund

Advent International has raised EUR8.5 billion ($10.8 billion) for its seventh global buyout fund, more than the EUR7 billion planned initially. The new vehicle, which launched officially in March, is one of the largest buyout funds raised since the start...

MBK’s Coway deal revived after court approval

MBK Partners’s acquisition of a significant minority stake in water purifier manufacturer Woongjin Coway appears to be back on track after a South Korean court approved the KRW1.2 trillion ($1.1 billion) deal. The deal was put on hold last month after...

Asia fundraising: A divided market

Global and local players are in the market trying to raise new regional and country vehicles. The former can rely on institutional relationships and IR might to get the job done. The latter face a resources squeeze

Asia buyouts: The privatization play

Take-private transactions have created headlines in a climate of low public market valuations. Companies are being targeted in Australia, Japan and the US, but a bid doesn’t necessarily result in a deal

How much is too much?

KKR had received commitments of $6.2 billion for its 11th North American fund as of the end of September. The vehicle, which entered the market in early 2011, has attracted about $700 million from LPs in the last six months and questions are being asked...

Ekuinas acquires Malaysian shipping services provider

Ekuinas, the Malaysian sovereign wealth fund, has completed a MYR220.9 million ($72.3 million) buyout of OMNI Petromaritime, a company that provides offshore support vessels to the oil and gas industry. Ekuinas acquired an 82.5% stake in OMNI for MYR150.9...

VIDEO: Thomas H. Lee of Lee Equity Partners

Thomas H. Lee, managing partner of Lee Equity Partners, talks to AVCJ TV about the evolution of the US private equity industry, his decision to leave buyouts for growth capital, how investors can identify good managers, and his expectations for China