Northstar Group
Coronavirus thwarts PE partial exit from Indonesia's BFI Finance
Italian lender Compass Banca has abandoned its purchase of a 19.9% stake in Indonesia’s BFI Finance from TPG Capital and Northstar Group, citing economic disruption created by the coronavirus outbreak.
Northstar hits first close on fifth Southeast Asia fund
Northstar Group has reached a first close of approximately $260 million on its fifth Southeast Asia fund, which has an overall target of $800 million.
Northstar joins $20m round for Indonesia education start-up
Northstar Group and Beenext have joined a $20 million Series A round for Indonesia’s Zenius Education.
Northstar's Bert Kwan launches PE business with BDA
Bert Kwan (pictured) has left his role as a managing director with Southeast Asia-focused Northstar Group to launch an investment platform with M&A advisory firm BDA Partners that will initially concentrate on Vietnam.
Northstar seeks $800m for Southeast Asia fund
Northstar Group, a Southeast Asia-focused private equity firm that counts Indonesia as its core market, is looking to raise $800 million for its fifth fund, according to sources familiar with the situation.
GP profile: Northstar Group
Northstar Group made its name through a series of consumer, financial services and commodities plays in a nascent Indonesian market. Technology is likely to define the firm’s next chapter
Deal focus: Big plans for Thailand's smallest bank
Olympus Capital takes a 25% stake in microfinance and micro-SME lending specialist Thai Credit Retail Bank, facilitating an exit for Northstar Group and laying plans for a merchant-friendly digitization
Indonesia exits: Unmet expectations?
Indonesia has become a source of frustration for LPs that want to see more exits. A weak currency, slower growth and rising competition aren’t helping GPs as they seek to deliver the required returns
Advance.AI raises $50m, targets Southeast Asia expansion
A group of Southeast Asian and Chinese investors has provided a $50 million extended Series B round of funding for Advance.AI, a big data specialist with offices in Beijing, Singapore, Jakarta, and Manila.
NSI goes independent, rebrands as Openspace Ventures
NSI Ventures, a Southeast Asian early-stage investor affiliated to Northstar Group, is to become fully independent and rebrand itself as Openspace Ventures.
Indonesia's Go-Jek secures $1.5b Series E round
Indonesian ride-hailing and delivery platform Go-Jek has closed its Series E round at $1.5 billion with contributions from the likes of Tencent Holdings, JD.com, Meituan-Dianping, Google, Temasek Holdings, BlackRock, and Samsung Venture Investment.
Northstar completes Innovalues acquisition, targets bolt-ons
Northstar Group has completed its S$331.4 million ($238 million) acquisition of Singapore-listed precision components manufacturer Innovalues, outlining plans for bolt-on acquisitions.
Northstar withdraws interest in Singapore-listed Spindex
Northstar Group has withdrawn its interest in Singapore-listed precision components manufacturer Spindex Industries after a consortium led by the company’s chairman acquired a more than 50% stake in the business, putting it on course for a buyout.
Northstar considers bid for Singapore-listed Spindex
Northstar Group may submit a buyout offer for Singapore-listed precision components manufacturer Spindex Industries that exceeds a S$98 million ($69.4 million) bid from a consortium led by the company’s chairman.
Former SCPE ASEAN head Bert Kwan joins Northstar
Bert Kwan, who served as head of ASEAN private equity at Standard Chartered Private Equity (SCPE) until November of last year, has joined Northstar Group as a managing director.
Northstar backs SE Asia business accommodation supplier
Northstar Group has taken what is understood to be a minority stake in MG Group – a Southeast Asian “bedbank” that supplies hotel rooms to travel agents, wholesalers, aggregators and tour operators – for an undisclosed sum.
Northstar submits $238m offer for Singapore-listed Innovalues
Northstar Group has offered to buy Singapore-listed Innovalues, a components manufacturer for the automotive and industrials sectors, in a deal that values the business at approximately S$331.4 million ($238 million).
Northstar's Ashish Shastry to join KKR
Ashish Shastry, managing partner at Indonesia-focused Northstar Group, has agreed to join KKR. He will start work later in the year as head of Southeast Asia, succeeding Ming Lu, who was promoted to co-head of Asia private equity in 2015, according to...
KKR, Warburg Pincus join $550m round for Indonesia's Go-Jek
Indonesian mobile ride-hailing and delivery platform Go-Jek has received $550 million from investors including KKR, Warburg Pincus, Farallon Capital and Capital Group Private Markets.
Indonesia private equity: Green shoots?
While Indonesia’s VC industry is taking off, private equity firms have found the last few years challenging due to economic headwinds. GPs are now feeling most positive, thanks in part to government policy
Indonesia public markets: Technical exits
The Jakarta Stock Exchange has never been a popular location for private equity exits due to various structural problems. The government wants to address these issues, but there is no quick fix
Northstar leads $1b financing deal for Indonesia's Salim Group
Northstar Group has led a $1 billion investment in Salim Group, one of Indonesia’s largest conglomerates, through a structured transaction. TPG Capital and Gateway Management also participated.
Southeast Asia fundraising: Growing pains
Beyond Navis Capital and Northstar Group, there are few Southeast Asia-focused GPs of meaningful scale. The lack of integration between markets in the region remains an issue
Northstar closes PE fund at $810m, VC fund at $89m
Northstar Group has reached a final close of $810 million on its fourth fund, which targets Southeast Asia, with a particular focus on Indonesia. Meanwhile, the firm’s VC unit, NSI Ventures, has closed its debut fund at $89 million.