Exit
Niche funds: Finding an angle
China has seen a proliferation of niche funds in recent years as GPs try to stand out from the crowd with differentiated strategies. Are investors – institutions, individuals or governments – buying into the story?
MSPEA-backed Hyundai Rotem to raise up to $575m in IPO
Hyundai Rotem, a South Korean train maker backed by Morgan Stanley Private Equity Asia (MSPEA), intends to raise as much as KRW622.4 billion ($575 million) in what is set to be the country's biggest IPO so far this year.
VC-backed Forgame targets $222m Hong Kong IPO
Forgame Holdings, a Guangzhou-based mobile game developer backed by several VC firms, plans to raise at least $222 million through an IPO in Hong Kong.
Temasek unit plans $185m Youku Tudou sell down – report
Sennett Investments, an affiliate of Temasek Holdings, has reportedly sold down its entire stake in Youku Tudou, an US-listed Chinese video site, generating up to S$235 million ($185 million).
Malaysia's Khazanah exits Time Engineering stake for $21m
Malaysian sovereign wealth fund Khazanah Nasional has sold its entire stake in local IT firm Time Engineering (TEB) to Censof Holdings for RM69.8 million ($21.3 million)
Intel Capital, AsiaVest to make partial exits from China's Montage via US IPO
Intel Capital and AsiaVest Partners will make partial exits from Montage Technology Group when the China-based semiconductor manufacturer completes its NASDAQ IPO.
Toshiba expands in India with 3i’s Vijai Electricals acquisition
Japan’s Toshiba Corporation will acquire the majority of Vijai Electricals’ electricity transmission and distribution (T&D) business for approximately $200 million. 3i bought a minority stake in Vijai for $25.8 million in 2006.
Australia's Wolseley targets $279m for Fund III
Wolseley Private Equity is targeting A$300 million ($279 million) for its third fund, which will invest in small to mid-size privately-owned businesses in Australia and New Zealand. The GP expects to see considerable opportunities in this space as founders...
Battle of the strategics
We have grown accustomed to China’s incumbent internet giants engaging in M&A. Since 2010, the BATS – Baidu, Alibaba Group, Tencent Holdings and Sina – have deployed around $6.5 billion (and that’s just disclosed transactions), eight times the...
SmartPay joins Ping An’s e-payment push
Ping An Insurance Group has taken the fight to Alibaba Group once before. In 2010 it bought an 80% stake in online grocery retailer Yihaodian and helped build the business into one of China’s leading B2C e-commerce players, finding space in the corner...
Navis in Australia demographics play
Australian politicians have long debated ways to enlarge the country’s tax base as they prepare for the economic ramifications of a spiraling dependency ratio. By 2050 there will be just 2.7 people of working age for each person aged 65 and over, compared...
COFCO PE unit to back Huishan Dairy IPO – report
The PE unit of Chinese food conglomerate COFCO will be among the cornerstone investors in milk producer China Huishan Dairy Holdings, which plans to list in Hong Kong in September.
Morgan Stanley PE Asia makes partial exit from Sihuan Pharma
Morgan Stanley Private Equity Asia (MSPEA) will make a partial exit from Hong Kong-listed Sihuan Pharmaceutical Holdings, joining company management in selling a 6.8% stake via a block trade agreement.
Navis buys Australian childcare business from Wolseley
Navis Capital Partners has acquired Australian childcare services provider Guardian Early Learning Group from Wolseley Private Equity with a view to helping the 69-center chain double in size. The transaction value was not disclosed but sources indicate...
Lunar Capital exits China mobile payment business to Ping An
Lunar Capital and co-investors RRE Ventures and Icon have exited SmartPay, one of China’s leading third-party online payment providers, to an affiliate of Ping An Insurance Group. The insurer, which also has bank and asset management interests, is said...
ChrysCapital part exits Hexaware for $9m
ChrysCapital Partners has sold part of its 9.59% stake in listed Indian outsourcing firm Hexaware Technologies for INR614.2 million ($9.2 million) on the open market.
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.
Japan's Rakuten acquires VC-backed video site Viki
Japanese e-commerce giant Rakuten has acquired Viki, a VC-backed global video streaming platform.The financial details of the transaction were not disclosed.
Norwest, IFC-backed Snowman Logistics files for IPO
Snowman Logistics, an Indian cold chain services firm backed by Norwest Venture Partners and International Finance Corporation, has filed a draft red herring prospectus for its upcoming IPO.
TPG-backed China Grand Auto plans $500m Hong Kong IPO – report
TPG Capital-backed China Grand Automotive Group reportedly plans to raise at least $500 million through a Hong Kong IPO early next year.
Q&A: FCC Partners' C.Y. Huang
C.Y. Huang, president of FCC Partners and chairman of the Taiwan M&A and PE Council (MAPE), explains why he sees the tide turning for foreign private equity in Taiwan and where the opportunities lie
Taiwan IPOs: An alternative exit
With the nascent T-shares program plus a string of incentives, Taiwan wants to establish itself as a hub for China IPOs. Can it pare down the regulatory detritus and make this dream come true?
American Capital exits Miami flight school to Japan's ANA for $79m
American Capital has exited its majority stake in the Miami-based Pan Am International Flight Academy to Japan's All Nippon Airways (ANA) for $79 million, claiming a compound annual rate of return of 16% over the lifetime of the investment.
Australia's Catalyst exits EziBuy to Woolworths for $274m
Catalyst Investment Managers has exited Australia and New Zealand apparel and homeware retailer EziBuy to Woolworths for NZ$350 million ($274 million). The PE firm bought a 43% stake in EziBuy six years ago for an enterprise valuation of NZ$200 million,...