Europe
Templeton reaches final close on fourth emerging markets fund
Franklin Templeton has reached a final close of more than $220 million on its latest emerging markets fund. The vehicle, which launched in March 2012 with a target of $300 million, has already made three investments.
Spain's Telefonica signs up Chinese incubator
Wayra, Spanish telecom giant Telefonica’s accelerator initiative, has signed an agreement with Virtue Inno Valley (VIV), an incubator program backed by China’s Tsinghua University.
EQT’s new fund goes global
The acquisition of a 65% stake in Qinyuan Bakery in 2010 was EQT Partners’ debut food service sector investment in China. Yet the deal was familiar territory for the GP, which was able draw on previous portfolio investments in Europe, including Vaasan&Vassan,...
VC firms back Irish start-ups in China
Led by the likes of Google, Facebook and LinkedIn, US tech companies have flocked to Ireland due to its EU access and business friendly policies, creating around 140,000 local jobs in the process. This has fostered spin-outs and serial entrepreneurs across...
Singapore's Luminor Capital invests $6.1m Swiss NGFI
Luminor Capital, a Singapore-based private equity firm, has invested CHF5.5 million ($6.1 million)in Switzerland's Next Generation Finance Invest (NGFI).
Unitas completes Edwards reorientation
When Unitas Capital and CCMP Capital came across specialist vacuum products developer Edwards Group, the business was hamstrung by geography. Asia was responsible for 60% of revenues but only 30% of manufacturing activity; in Europe these figures were...
China's WestSummit raises $325m across two tech funds
Beijing-based growth capital firm WestSummit Capital has raised $325 million across two funds, comprising $225 million for West Summit’s Fund II and $100 million for its China Ireland Technology Growth Capital Fund.
Fosun pays $1.36b to buy Portugese insurer Caixa
China's Fosun International has acquired an 80% stake in Caixa Seguros e Saúde (CSS), the insurance unit of Portugese state bank Caixa Geral de Depositos SA for EUR1 billion ($1.36 billion), beating out Apollo Management International.
Global PE fundraising reaches $431b in 2013 – Preqin
Private equity firms raised $431 billion globally in 2013, up 13% on 2012 levels, largely thanks to robust activity in North America and Europe. It is the highest amount in any year since the global financial crisis.
VIDEO: Steve Koltes of CVC Capital Partners
CVC Capital Partners has completed two control deals in China in 2013 and Steve Koltes, the firm's co-founder and co-chairman, expects more to follow. This evolution of opportunities in existing markets - plus the opening up of new markets - will see...
EQT acquires franchise operator China F&B Group
EQT Partners has bought a majority stake in China F&B Group, the Chinese franchise operator of international restaurant chains Dairy Queen and Papa John’s Pizza, for an undisclosed sum. Global investors SEB private equity and Hong Kong-based General...
Q&A: Bain Capital's Dwight Poler
Dwight Poler, managing director with Bain Capital in Europe, on the openings created by economic volatility in the euro zone and supporting portfolio companies that seek expansion in Asia
Espirito Santo, Dabur's Burmans plan to launch PE fund
The investment bank arm of Portuguese financial group Espirito Santo plans to a launch a private equity fund in partnership with the Burman family - the promoters of Indian healthcare and food company Dabur Group - to invest in medium and small-cap companies.
Investors adapt to adversity – AVCJ Forum
Flexibility and changing strategy are key to finding the best opportunities in the current adverse environment, investors told the AVCJ Forum in Hong Kong.
Axa spins off private equity unit
Axa Private Equity - now renamed Ardian - has completed its spin-out from the Axa Group in deal which values the unit at EUR510 million ($690 million).
Fosun, Axa's Club Med takeover delayed
Axa Private Equity and China’s Fosun International have suffered a setback in their takeover of France-based vacation resort operator Club Méditerranée (Club Med), as French regulators decided not to rule on shareholder opposition to the deal before...
Japan's Lixil acquires TPG-backed faucet maker Grohe
Lixil Group, a Japanese toilet manufacturer, has agreed to acquire Grohe, a German maker of faucets backed by TPG Capital and the private equity arm of Credit Suisse (formerly CSFB Private Equity), for JPY400 billion ($4 billion).
Fosun buys 35% stake in Italian luxury menswear brand
Fosun International, China’s largest privately-owned conglomerate, has agreed to buy a 35% stake in Italian menswear brand Caruso. Much like Fosun’s investments in other foreign brands, the plan is to support Caruso’s expansion in China.
Secondaries: Bifurcation point
More LP interests in Asian funds are coming onto the secondary market, but the region remains the industry’s future rather than its present. Which investors will be around to witness it coming to bloom?
Mandarin Capital exits IMA Group, has first close on Fund II
Mandarin Capital, a Chinese-Italian private equity fund, has sold its 7.57% stake in Bologna-based pharmaceutical machinery business IMA Group for EUR53 million ($69.7 million) and has made first close of its second fund on EUR110.5 million.
China’s Fosun raises $525.2m for outbound fund
Chinese conglomerate Fosun International has secured $525.2 million for its China Momentum Fund, which is targeting $1 billion for outbound investment.
Unitas, CCMP set for 3.5x return as Atlas Copco buys Edwards for $1.6b
Unitas Capital will make up to 3.5x its money on Edwards Group after Sweden’s Atlas Copco agreed to buy the specialist vacuum products developer for approximately $1.6 billion, including debt. Unitas and CCMP Capital have owned the business since 2007...
Fosun, Axa French Club Med buyout extended
The French financial markets authority, Autorité des Marchés Financiers (AMF), has extended a takeover of France-based vacation resort operator Club Méditerranée (Club Med) by China’s Fosun International and Axa Private Equity after shareholder...
Australia's Hastings buys Phoenix Energy from Terra Firma
Australian infrastructure investor Hasting Funds Management has acquired 100% of Northern Irish gas distribution company Phoenix Natural Gas from Terra Firma. Financial details of the transaction were not disclosed.