M&A
StepStone enters real estate space, targets Asia expansion
StepStone has moved into the real estate sector with the addition of executives from Clairvue Capital Partners. The new team has built portfolios in the US and Europe and plans to add professionals in Asia over the next 12 months.
CDH, China Grand Pharma buy control of contact lens maker
CDH Investments has teamed up with Hong Kong-listed China Grand Pharmaceutical & Healthcare to acquire a 71.25% stake in contact lens maker Shanghai Weicon Optical for $78.75 million.
TA-owned SpeedCast buys PNG communications specialist
SpeedCast, a satellite telecom provider owned by TA Associates, has acquired of wireless and broadband specialist Oceanic Broadband in order to boost its coverage of the natural resources sector.
Japan outbound investment: Playing away
Emboldened by ample financing and the need to develop demand bases beyond a stagnating domestic market, Japanese companies are investing more overseas. Are they partner or competitor for private equity?
VC-backed Cheetah Mobile buys HK mobile advertising firm
Cheetah Mobile, the US-listed internet security software backed by Matrix Partners and Tencent Holdings, has acquired mobile advertising firm HongKong Zoom Interactive Network Marketing Technology in a deal worth around $30 million.
3i exits auto parts firm to Chinese buyer, nets 2x return
3i has sold Hilite International, a German suppler of auto engine and transmission parts, to China's AVIC Electromechanical Systems for EUR473 million ($643.8 million), generating a 2.1x return.
VC-backed Indian e-commerce giant Flipkart acquires Myntra
VC-backed Indian online shopping company Flipkart has acquired fashion retailer Myntra as competition intensifies in the country's e-commerce market.
Japan's Next Capital exits massage chair maker to Asahi
Next Capital has agreed to exit its stake in Fuji Medical Instruments (Fujiiryoki), a Japanese manufacturer of massage chairs and other health-related products, to Asahi Holdings for JPY7.8 billion ($76.7 million).
Qihoo 360 buys VC-backed MediaV
Chinese antivirus software company Qihoo 360 Technology has bought a controlling stake in MediaV, a VC-backed advertising and digital marketing company.
TA-owned SpeedCast completes another bolt-on
TA Associates-owned SpeedCast has made its third bolt-on acquisition in Australia in 18 months, purchasing a fixed and mobile satellite solutions provider SatComms Australia for an undisclosed sum.
China's LeTV launches $160m internet fund
LeTV.com, a Shenzhen-listed online video portal, is seeking to raise up to RMB1 billion ($161 million) for an internet and technology-focused private equity fund .
Skylake, Laird buy Korea's Model Solution
A consortium led by Skylake Investment has partnered with UK-based technology company Laird to buy Model Solution, a South Korean company that specializes in prototype design, for KRW70 billion ($67 million).
China's AutoNavi agrees to be acquired by Alibaba
AutoNavi Holdings, a Chinese digital mapping and navigation firm, has agreed to be acquired by Alibaba Group in a deal valuing the NASDAQ-listed company at $1.5 billion.
Blue Star on consolidation path
It is difficult to capture the scale of Australia’s printing industry given the amount of activity that takes place outside of the traditional silos. The data points highlighted by the national industry association, however, do not make for comforting...
India Infoline buys majority stake in PE firm India Alternatives
IIFL Wealth Management, a listed unit of India Infoline (IIFL) Group which is in turn backed by The Carlyle Group, has acquired a majority stake in PE firm India Alternatives Investment Advisors.
Wolseley's Blue Star targets Australia printing consolidation
Blue Star Group, an Australian printing and communications specialist owned by Wolseley Private Equity, has agreed to merge with Independent Print Media Group (IPMG) to form the country’s largest printing company.
China gaming firm Ourpalm commits $16m to Huatai M&A fund
Ourpalm, a Shenzhen-listed mobile games developer, has committed RMB100 million ($16 million) to Beijing Huatia Ruilian M&A Fund, a new investment vehicle managed by Huatai United Securities, an investment banking arm of Huatai Securities.
China Aier Eye Hospital invests in Huatai Securities' M&A fund
Shenzhen-listed Aier Eye Hospital Group plans to commit RMB100 million ($16 million) to an M&A fund managed by Huatai United Securities, an investment banking arm of Huatai Securities.
China Aier Eye Hospital invests in Qianhai M&A fund
Shenzhen-listed Aier Eye Hospital Group has launched an M&A fund with China Orient Asset Management with a view to bringing about consolidation in the ophthalmology industry.
Korea M&A: Regulatory relief
The Korean government’s recently announced M&A stimulation package includes a relaxation of restrictions on domestic private equity firms. But how much change are these reforms likely to bring?
Music service Rdio acquires India's VC-backed Dhingana
Rdio, a US-based digital music service, has acquired Dhingana - an India and US-based social music streaming service backed by Inventus Capital Partners, Helion Venture Partners and Lightspeed Venture Partners.
Alibaba to buy majority stake in Tencent, VC-invested ChinaVision
Alibaba Group has agreed to buy 60% of Hong Kong-listed ChinaVision Media Group - in which rival Tencent Holding and VC firm Sequoia Capital are current shareholders, for HK$6.24 billion ($804 million).
South Korea looks to ease M&A rules for PE
South Korea is planning to relax restrictions concerning M&A transactions in a bid to encourage investment by private equity and strategic investors.
Jiuding Capital reaches $150m first close on US dollar fund
China’s Jiuding Capital has reached a $150 million first close on its second US dollar-denominated vehicle. Investors include sovereign wealth funds and insurance companies from North America and Asia.