Southeast Asia
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.
Malaysia plans $500m global halal fund
Malaysia-based specialist private equity firm Azka Capital will manage a MYR1.55 billion ($503 million) fund focused on global opportunities in the halal industry. It is expected to acquire companies in the food and agri-business sector and reorient them...
Australia's Anchorage closes Fund II at $260m hard cap
Australia-based special situations and turnaround specialist Anchorage Capital Partners has reached a first and final close on its second fund at the hard cap of A$250 million ($260 million). The vehicle, which came in oversubscribed, spent less than...
IFC may anchor Thailand-focused Lakeshore fund
The International Finance Corporation (IFC) is considering a commitment of up to $20 million to Lakeshore Capital Fund I, a Thailand-focused GP that is seeking to raise $100 million.
Q&A: Baring Private Equity Asia's Jean Eric Salata
Baring Private Equity Asia closed its fifth fund at $2.46 billion in early 2011. CEO Jean Eric Salata tells AVCJ why the firm has taken its time investing the capital and where he now sees value emerging in the market
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
Mekong trims Mobile World stake, looks to IPO
Is Mobile World the next Masan Consumer Corp? The as yet unnamed private equity firm that picked up part of Mekong Capital’s stake in the Vietnamese mobile phone retailer is certainly hoping so.
Leopard backs cross-border kenaf play
When kenaf, an Asian plant known for its short growing cycle, high protein content and strong fibers, was put to practical use, the locals made ropes. Today, its applications are expanding to encompass a wide variety of industries.
Malaysia's EPF eyes more PE opportunities
Malaysia’s Employees Provident Fund (EPF) plans to increase its private equity commitments in 2013, with a particular interest in regional co-investment opportunities.
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.
Vietnam's Mekong Capital in partial exit from Mobile World
Mekong Capital has completed a partial exit from Vietnamese mobile phone retail chain Mobile World, securing an 11x return, including dividend payments. The PE firm initially invested $3.5 million in 2007.
Leopard Capital's Cambodia fund commits to Engage Resources
Leopard Capital has invested an undisclosed sum in Engage Resources, enabling the kenaf-based products manufacturer to expand its operations from Thailand into Cambodia. Kenaf is a fibrous plant used in animal feed as well as in the construction and paper...
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
AVCJ at 25: Nick Bloy of Navis Capital Partners
Nick Bloy, co-managing partner at Navis Capital Partners, saw Lehman Brothers collapse within days of a launching his sixth fund. LPs had to be reassured or replaced, and the strength of Navis’ existing portfolio was pushed to the fore
AVCJ at 25: Lip-Bu Tan of Walden International
Lip-Bu Tan, founder and chairman of Walden International, plotted the route by which foreign venture capital entered China’s internet sector, as well as guiding dozens of Asian companies from start-up to listing
AVCJ at 25: Roy Kuan of CVC Capital Partners
Roy Kuan, managing partner at CVC Capital Partners, witnessed a transformation in private equity in the wake of the Asian financial crisis. Suddenly he was in the buyout business, carving out assets from distressed conglomerates
AVCJ at 25: George Raffini of Headland Capital Partners
George Raffini spent 21 years with HSBC’s Asia private equity unit before the team spun out to form Headland Capital Partners in 2010. He witnessed Asia reach new highs in the 1990s before brutally falling to earth
AVCJ at 25: Ta-Lin Hsu of H&Q Asia Pacific
Ta-Lin Hsu, founder and chairman of H&Q Asia Pacific, brought venture capital to Taiwan as part of efforts to develop the tech sector. It was a launching pad for private equity across the region
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’...
PE, strategics bid for Thai Life Insurance stake – report
A clutch of private equity firms and strategic investors have reportedly entered the bidding for a 20% stake in Thai Life Insurance, with the deal expected to reach around $500 million.
Bamboo Finance, DFIs back Philippines financial services start-up
Bamboo Finance has teamed up with a group of non-profit investors to commit $24 million to Bridge, a Philippines-based financial services start-up dedicated to improving rural banking. The participants include microfinance pioneer Accion and two development...
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