Secondaries
Bain in bumper $1b deal for India’s Genpact
Indian business process outsourcing (BPO) firms, once a prime target for private equity investment several years ago, have inevitably become a hive of exit activity. The Blackstone Group last year sold its 66.25% stake in Intelenet Global Services to...
Asia’s first secondary real estate trading platform launches
Asia Pacific’s first trading platform for buyers and sellers of secondary interests in real estate funds was launched this week by Jones Lang LaSalle.
Coller closes new secondaries fund above target at $5.5b
Coller Capital has reached a final close of $5.5 billion on its latest global secondaries fund. The new vehicle is larger than its predecessor, which closed in 2007 at $4.8 billion, and above the initial fundraising target of $5 billion. The fund has...
China to buy LP interests from GM pension plan
The Chinese government has agreed to buy stakes in a string of private equity funds, including vehicles managed by The Carlyle Group, The Blackstone Group and CVC Capital Partners, from General Motors’ (GM) pension plan.
China secondaries: Fresh start or false start?
China’s PE Secondary Market Development Alliance is meant to facilitate the trading of LP interests in renminbi funds. The absence of local expertise, portfolio transparency and mature LPs are obstacles to this.
AlpInvest creates secondaries team in Hong Kong
AlpInvest Partners, the Netherlands-based fund-of-funds, has expanded its Hong Kong office with the addition of a secondary investments team. Neal Costello, who recently relocated from New York, will lead the firm's secondary activities in Asia.
OTPP, Unitas target PE-owned Infastech – report
Ontario Teachers’ Pension Plan (OTPP) and Unitas Capital have reportedly teamed up to bid for Singapore-based industrial fasteners manufacturer Infastech, currently owned by CVC Capital and Standard Chartered Private Equity (SCPE). The deal could be...
Strategic glad-handing
I recall conversations with a number of Asian GPs on how to invest in family-owned businesses that account for such large number of potential acquisition targets for private equity funds in the region. The formula seemed pretty straightforward. It begins...
Beijing creates PE secondaries exchange
China has set up an exchange intended to make it easier for investors to trade their holdings in equity investment funds. Launched on Thursday, the China PE Secondary Market Development Alliance will theoretically facilitate exits from positions in illiquid...
Asia LP interests: The price factor
Global LPs have no intention of reducing their exposure to Asia. This has put upward pressure on secondaries prices, but assessing fair value is more difficult than it seems
PE firms remain in the hunt for Kyobo Life
The sale of a one third interest in Kyobo Life, the smallest of South Korea’s Big Three life insurers, was always going to be a two-phase affair. The first phase – Korea Asset Management Corp. (KAMCO) exiting its 9.9% stake in the company – is now...
Apax, Bain in race for $1.4b Genpact stake
Apax Partners and Bain Capital are reportedly competing for the 41% stake in Indian business process outsourcing (BPO) company Genpact being sold by Oak Hill Capital and General Atlantic (GA). The stake is valued at $1.4 billion, which could make this...
Ontario Teachers win Kyobo Life stake - update
Canada's Ontario Teachers Pension Plan has become the preferred bidder for a stake in Kyobo Life Insurance edging out other interested party, Affinity Equity Partners. Contrary to earlier media reports, the pension fund did not team up with existing shareholder...
Asian PE infrastructure evolves with the industry
Everything always seems clearer and easier to understand with the benefit of hindsight. While it seems pretty apparent now that Asian private equity would emerge as a leading asset class for investors around the world, it was actually quite difficult...
Unison secures Showa Yakuhin Kako SBO
Unison Capital has emerged victorious in the auction for Showa Yakuhin Kako, securing the secondary buyout of the drug producer from Tokio Marine Capital, Polaris Capital Group and PineBridge Investments.
Navis sees 10x return on Trimco exit
There is always a danger that private equity investors will fall in love with certain portfolio companies and never want to exit. Navis Capital Partners came close with Trimco International Holdings. The Malaysia-based PE player took a controlling stake...
Archer, CHAMP among bidders for CVC’s Mantra - report
Archer Capital and CHAMP Private Equity are reportedly among the PE firms bidding for Australia’s Mantra Group, which CVC Asia Pacific put up for auction in March.
HarbourVest to open Beijing office
HarbourVest Partners plans to open a Beijing office and has appointed Sally Shan to lead its operations in mainland China. Shan, who previously served as managing director and head of Asia technology investment banking at J.P. Morgan Securities Asia Pacific,...
Wolseley-backed Nextmedia acquires magazines from CVC's ACP
Nextmedia, the Australian magazine publisher owned by Wolseley Private Equity, has acquired two publications from ACP Magazines, the magazine division of CVC Asia Pacific-backed Nine Entertainment.
Foreigners secure entry to India’s secondaries market
Indian regulators have opened the door for foreign PE investors seeking to buy secondary stakes in domestic companies. Is this the jumpstart India’s secondary market needs?
Advent International to invest $105m CARE Hospitals
Advent International will invest $105 million in multi-specialty hospital chain CARE Hospitals, representing its third investment in India.
ISigma buys Shinsouki from Riverside
ISigma, a mid-size buyout firm wholly owned by Marubeni Corp, has acquired a minority stake in Japan’s Shinsouki in a deal that represents an exit for The Riverside Company.
India relaxes rules on secondary deals by foreign PE firms
Foreign private equity and venture capital firms now have license to pursue direct secondary transactions in India after the country’s central bank relaxed regulations on their activity. It potentially opens the door to a string of asset purchases from...
Profile: NewQuest's Darren Massara
Darren Massara is familiar with difficult investment environments the world over. He is relying on these experiences to help NewQuest find success in Asia’s direct secondaries market