Indonesia
Japan's Indonesian ambitions
Sumitomo Mitsui Banking Corp. (SMBC) is paying a princely sum for a slice of Indonesia's financial services sector. The price-to-book (P/B) valuation of the $1.56 billion it has agreed to pay for a 40% stake in Bank Tabungan Pensiunan Nasional (BTPN)...
TPG, Northstar in partial exit from Indonesia's BTPN
TPG Capital and Northstar Pacific Partners have agreed to exit part of their stake in Indonesian lender Bank Tabungan Pensiunan Nasional (BTPN) to Japan's Sumitomo Mitsui Banking Corporation (SMBC).
Accion backs Asian financial services start-ups
Non-profit microfinance pioneer Accion will provide funding to three Asian start-ups through its $10 million seed initiative, Venture Lab. Singapore-based Coda Payments, Demyst Data and Indian education access provider Varthana are among the five businesses...
Carlyle confirms appointment of Indonesia head
The Carlyle Group has confirmed the appointment of Rajiv Louis as managing director with responsibility for investment activity in Indonesia. He previously spent nearly 10 years at UBS, most recently serving as managing director and country head in Indonesia...
OCBC takes part in $116m debt financing for Indonesian toll road operator
Singapore's Oversea-Chinese Banking Corporation (OCBC) has completed IDR1.13 trillion (S116 million) in convertible debt financing for Indonesian toll road operator Baskhara Utama Sedaya (BUS).
Creador brews 2x return on OldTown
Malaysia's OldTown White Coffee has unusual origins. The brand came into existence in 1999 as a range of pre-mix instant beverages, offering creamer, coffee and sugar in a single sachet. It was only in 2005 that the company decided to venture into the...
Japan's SMBC in talks with TPG to buy Indonesia bank stake – report
Sumitomo Mitsui Banking Corp (SMBC) is said to be in advanced talks to buy 40% of TPG Capital's stake in Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN). The sale would enable the private equity firm to comply with the 40% cap on foreign ownership...
Quantum seeks to remove Intrepid directors after Indonesia debacle
Quantum Pacific Investment is looking to remove directors at Australia's Intrepid Mines after the company lost control of a key Indonesian asset.
Indonesia's Saratoga Capital in the lead for Bank Bukopin stake - report
Indonesian GP Saratoga Capital is said to be the leading candidate to buy a combined 41.4% stake in Bank Bukopin.
Fenox, IMJ to invest in SE Asian, Japanese start-ups
Silicon Valley's Fenox Venture Capital and Japanese mobile solution provider IMJ Corporation have jointly established IMJ Fenox Pte with a view to investing in mobile, Internet and software technologies in Southeast Asia, Japan and the US.
Carlyle hires UBS banker to open Indonesia office – report
The Carlyle Group plans to become the first global buyout firm to open an Indonesia office and has hired a banker from UBS to lead its efforts in a country that has so proved difficult to navigate for many larger PE players. Carlyle completed its first...
Saratoga-owned Mandala Air eyes expansion
Saratoga Capital-owned Mandala Airlines plans to quadruple the size of its fleet by 2014 in order to boost its share of a rapidly expanding Indonesian aviation market, driven by the country’s emerging middle class.
Indonesia webinar: Turning hype into returns
Indonesia has emerged as the next big thing in Asian PE, but there are concerns about rising valuations and whether the market is deep enough to meet expectations. Industry participants share their views
CVC-backed Matahari prices offering near top of revised range
CVC Capital Partners and its local partner have priced their Matahari Department Store offering at IDR10,850 ($1.11) per share, putting them on course to raise about $1.3 billion through a partial exit.
Competition for large-cap Indonesia deals to intensify – AVCJ Forum
Indonesian private equity will remain intensely competitive at the larger end of the market as regional and global buyout firms compete for a limited number of deals, industry participants told the AVCJ Indonesia Forum in Jakarta today.
AVCJ at 25: Patrick Walujo of Northstar Pacific Partners
Patrick Walujo, co-founder and managing partner of Northstar Pacific Partners, leveraged local knowledge and relationships at TPG Capital to create Indonesia’s largest domestic private equity platform
AVCJ at 25: Sandiaga Uno & Kay Mock of Saratoga Capital
Sandiaga Uno and Kay Mock, founding partners of Saratoga Capital, transformed a family office into a private equity firm on the back of strong growth and sound investments in Indonesia
Olympus Capital launches Asia structured credit business
Olympus Capital Asia is entering the structured credit space, with a particular focus on Southeast Asia, India and Australia. Daniel Mintz, the private equity firm’s founding managing director, believes the pullback by commercial banks combined with entrepreneurs’...
Q&A: Ancora Capital's Veronica Lukito
Veronica Lukito, co-founder and managing director of Ancora Capital, discusses Indonesian growth, hype and myriad challenges in capitalizing on Asia's latest success story
Indonesia mid-market: It's who you know
Although not overrun with GPs, Indonesia’s mid-market is difficult to penetrate. Access to local networks through which deals can be sourced is a good first step. After that, it’s entrepreneur management
Indonesia fundraising: Reality check
Few Indonesia-focused GPs that sprung up in recent years have made headway. It points to a still immature local market and recognition amongst LPs that they can get exposure to the country in other ways
PE recruitment: New territory, new talent
Indonesia has become a priority for global and regional PE firms looking to source deals in a high-growth market. The first step is finding the right people, and it’s not easy
CVC-backed Matahari launches $1.3b offering
CVC Capital Partners and its local partner are seeking up to $1.36 billion through a partial exit from Indonesian retailer Matahari Department Store. The deal values Matahari at $3.4 billion, which means the private equity firm stands to make a substantial...
TPG, Northstar approached for BTPN stake - report
Japanese banks Mitsubishi UFJ, Mizuho and Sumitomo Mitsui are said to be among potential suitors approaching TPG and Northstar Pacific Partners with a view to acquiring their stake in Indonesia's Bank Tabungan Pensiunan Nasional (BTPN). The PE firms'...