Philippines
The Philippines: SE Asia's next big thing?
The Philippines has emerged from relative obscurity to become private equity’s latest nascent consumer play in Southeast Asia. Deal flow is slow and uncertain as investors get to grips with the opportunity.
Ayannah banks on the unbanked
Explaining why cross-border remittances into the Philippines are not his core business, Mikko Perez points to Hong Kong’s Central district on a Sunday, when the domestic helpers are out in force. “It’s so cut throat – we are talking basis points...
Gree Ventures backs Philippines payments business
Gree Ventures has participated in a Series C round of funding for Philippines-based digital payments business Ayannah. Wavemaker Labs, Golden Gate Ventures, IMJ Investment Partners and Beenos Asia also participated.
CVC-owned SPi to sell US healthcare business for $235m
SPi Global, a Philippines-based business process outsourcing (BPO) provider owned by CVC Capital Partners, has agreed to sell its US healthcare business to Conifer Health Solutions in a deal worth $235 million.
Armstrong commits $29m to Philippines solar project
Armstrong Asset Management and Singapore solar project developer Nv vogt have committed $29 million to the development of a pipeline of solar projects in the Philippines.
PLDT sees Rocket as proxy for global growth
Smart eMoney, a mobile payment business owned by Philippine Long Distance Telephone (PLDT), first ventured overseas in partnership with Mastercard in 2010.
PLDT acquires 10% stake in Rocket Internet
Philippine Long Distance Telephone Company (PLDT) has acquired a 10% stake in German e-commerce incubator and investor Rocket Internet for EUR333 million ($445 million).
Thriller in Manila: PE investors target the Philippines
The Philippines is the fifth-largest economy in the Association of Southeast Asian Nations (ASEAN) and has the second-largest population. GDP growth is among the fastest in Asia. But in terms of inbound and outbound commerce the country trails its comparable...
PEP exits Griffin's Foods to Philippines buyer for $608m
Australian GP Pacific Equity Partners (PEP) is set for its fourth full or partial exit in two months after Philippines food and beverage conglomerate Universal Robina (URC) agreed to buy Griffin’s Foods for approximately NZ$700 million ($608 million)...
Q2 analysis: Still open for business
The IPO window remains open, especially in Australia; VCs continue to dominate China fundraising, but probably not for much longer; the Philippines stakes its claim as Southeast Asia’s emerging PE star.
GIC invests $84m in Philippines hospital business
GIC Private has agreed to invest PHP3.7 billion ($84.5 million) for a 14.4% stake in hospital business of Philippines-based conglomerate Metro Pacific Investments Corp.
TPG, Khazanah invest $132m in Philippines housing developer
TPG Capital and Malaysian sovereign wealth fund Khazanah Nasional have together invested PHP5.8 billion ($132 million) in Philippines-based housing developer 8990 Holdings.
GIC invests $76m in Philippines canned foods firm
GIC Private has agreed to invest PHP3.4 billion ($76.6 million) in Philippines-based canned foods distributor Century Canning Corporation (CCC). The move comes as CCC’s subsidiary, Century Pacific Foods (CNPF), prepares to go public.
VC-backed Food Runner buys Philippines' City Delivery
Food Runner, a Singapore-based food delivery company backed by Digital Media Partners, has acquired Philippines counterpart City Delivery.
PricePanda gets $3m from Tengelmann for SE Asia expansion
Rocket Internet’s price comparison platform, PricePanda, has raised $3 million from German retailer Tengelmann Group to expand its Southeast Asia footprint. It currently operates in Malaysia, Philippines, Indonesia and Singapore.
Cargill's Black River ups stake in Philippines' AgriNurture
Black River Asset Management, the private equity unit of US agribusiness giant Cargill, has increased its stake in listed food processing and export company AgriNurture (ANI).
SE Asia online retailer Lazada gets $250m in funding from Tesco, others
Rocket Internet’s Southeast Asian online shopping mall, Lazada, has raised a $250 million round of funding from Tesco, Access Industries, and return backers Investment AB Kinnevik and Verlinvest.
Abraaj exits Philippines hospital DMMC
The Abraaj Group has made a full exit from Daniel O. Mercado Medical Center (DMMC), a tertiary care hospital based in the Philippines. The exit is said to have been through a buy-back arrangement with the Mercado family.
LeapFrog in $204m first close on emerging markets microfinance fund
Specialist microfinance investor LeapFrog Investments has reached a first close of $204 million for its second fund after just eight months in the market. The vehicle, which has a full target of $400 million, will back companies in South Asia, Southeast...
ADB-backed infra fund to invest $85m in Philippines wind farm
The Philippine Investment Alliance for Infrastructure (PINAI) fund, a vehicle partly financed by the Asian Development Bank (ADB) and managed by Macquarie Infrastructure Management Asia, is investing up to $85 million in the country's first ever wind...
ASEAN integration brings opportunities, challenges - AVCJ Forum
ASEAN integration is a game changer for companies from China and India as well as for those in Southeast Asia, but a lack of familiarity with private equity in more peripheral markets remains an obstacle, fund managers told the AVCJ Singapore forum.
Swedish asset manager backs $120m Philippines fund
Swedish alternative asset manager Brummer & Partners is backing a PHP5 billion ($120 million) Philippines-dedicated private equity vehicle known as the Navegar Fund.
Ex Indonesia: Investing at SE Asia's edges
Indonesia is the poster child of Southeast Asian private equity but competition is intense and valuations are rising. What can investors expect from less-tapped markets such as Thailand, the Philippines and Vietnam?
Capital International backs Philippines media conglomerate
Capital International has invested PHP2.5 billion ($60.7 million) in ABS-CBN Corporation, the Philippines’ largest media and entertainment company. The funding will be used to support ABS-CBN’s platform expansion, including boosting its digital terrestrial...