TPG Capital
TPG, Northstar in cross-investment deal
What does it say about the shifting sands in private equity when an Asian GP is able to get a stake in a global buyout firm? Indonesia-based Northstar Pacific has achieved just that through a cross-investment deal with TPG. The US firm will take 10-20%...
Chinese outbound M&A: Unfamiliar territory
Ever more Chinese firms are engaging in overseas M&A, with varying degrees of success. Prospective sellers must be aware of the risks as well as the opportunities
PE partnerships – A route into Indonesia
The recently announced TPG-North Star Pacific share swap got me thinking about collaboration between private equity firms. Global PE players have been using local funds to gain access to new markets for some time now, and quite a few have committed capital...
Buyout firms structure Australia investments through Singapore
Singapore has emerged as the preferred conduit for private equity firms looking to enter and exit investments in Australia from offshore. CHAMP Private Equity and TPG are understood to be among those to have set up Singapore structures in the wake of...
South African insurer to buy 26% stake in Shriram Capital
Some private equity investors in Shriram Capital (SCL) will be granted an exit opportunity as a result of South African insurer Sanlam’s acquisition of a 26% stake in the company. The deal is estimated to be worth INR20 billion ($430 million), with...
PE-backed Jingyuntong tops 50x historic earnings in IPO
Private equity-backed solar energy components manufacturer Beijing Jingyuntong Technology raised RMB2.52 billion ($394 million) in its IPO, priced at 50x its historic earnings.
TPG, Northstar reach share-swap agreement
TPG and Northstar Pacific, the Indonesian buyout group with which TPG already has strong ties, are to do a share swap. TPG will take a 10-20% stake in Northstar, which will then receive a less than 5% interest in the US firm, The Financial Times reported.
Bain buys MYOB as markets sink Sage bid
Recent turbulence in the global markets did private equity a favor last week as Bain Capital emerged as the unlikely victor in the auction for Australian accounting software firm MYOB. Bain and KKR had for several weeks been regarded as the frontrunners...
Australia pursues Myer profits offshore
No one expects the ATO to get far in its attack on TPG’s Luxembourg and Cayman entities
Bright Food finally seals overseas acquisition
China's Bright Food Group is set to acquire a 75% stake in CHAMP Private Equity-controlled Manassen Foods, finally making a breakthrough in its long-held but often thwarted ambitions to take a significant step into overseas markets. The parties did not...
Australian tax authorities win right to pursue TPG over Myer
The Australian Taxation Office (ATO) was won court orders to help it trace overseas funds that were distributed following TPG’s IPO exit from Myer, The Australian reported.
Qantas dismisses private equity takeover talk as speculation
Australian airline Qantas said Wednesday that it had received no approaches from prospective buyers but acknowledged rumors that private equity firms are interested in the business. "As far as we are concerned there is no formal or informal bid on the...
Reliance Communications again seeks PE buyers for tower unit
Reliance Communications is courting private equity firms and strategic investors as it seeks to sell its 95% stake in tower unit Reliance Infratel. The company has hired UBS to arrange a sale and is looking to recoup $5 billion for the asset, Reuters...
SABMiller launches hostile takeover bid for Foster’s
SABMiller has launched a hostile takeover bid for Foster’s, worth A$9.5 billion ($10 billion), after the Australian brewer refused to negotiate on its initial proposal two months ago. SABMiller said Wednesday that it would put its A$4.90 per share cash...
AVCJ Forum: More than meets the eye
In the June 22 edition of this column, I shared a conversation with a venture capitalist about the reasons why it makes sense for VCs to attend the AVCJ Forum (www.avcjforum.com) in November. Basically, senior partners of the larger private equity and...
GMR Energy takes 30% stake in Indonesian coal mine
GMR Energy, a subsidiary of GMR Infrastructure, will buy a 30% stake in Indonesia’s T Golden Energy Mines for $450-550 million. The agreement includes an off-take clause that guarantees the Indian firm coal supplies rising to 10 million metric tons...
Indonesia bans banking sector takeovers
Indonesia’s central bank has temporarily barred takeovers in the banking sector – where there is considerable interest from foreign private equity investors – as it considers a review of ownership rules. The central bank is still drafting the policy...
Matrix commits $9.9m to Kids Clinic India's Series A round
Matrix Partners India has committed INR450 million ($9.9 million) as the sole institutional investor in Kids Clinic India Private Limited, a Bangalore-based provider of maternity and infant care services. The immediate goal is to enlarge the company’s...
TPG eyes controlling stake in Indonesian tire manufacturer
US buyout firm TPG Capital has emerged as a potential bidder for Indonesian tire manufacturer Multistrada Arah Sarana, Reuters reported. It faces competition from South Korea's Hankook Tire and Japan’s Yokohama Rubber.
Indonesia's GPs: Subscriptions wanted
A clutch of new GPs have emerged in Indonesia, looking to capitalize on growing international interest in the market. How many will survive?
Bright Food Group targets acquisition within six months
China’s Bright Food Group may make an acquisition in Europe or Australia within six months, the firm’s chairman has said. Wang Zongnan told Bloomberg that potential targets include the food distribution and sugar industries.
Women in private equity: Minority report
Private equity is a man’s world, in Asia and everywhere else. What can women on the inside do to bring about change?
A&P Financial wins court approval for Takefuji rehabilitation plan
Takefuji, a failed Japanese consumer lender, has finally received court approval for its rehabilitation plan. Korean firm A&P Financial, which beat the likes of Cerberus Capital Management, TPG and J Trust to win the bankruptcy administrator's backing,...
CICC tipped to acquire stake in Chinese trust company
China International Capital Corp. (CICC) is poised to buy a stake in Zheshang Trust, stretching its financial industry scope to include the country’s innovative yet opaque trust sector. The company, which is part-owned by TPG Capital and KKR, will likely...