News
Lazard exits Australian auto parts business Midas to Metcash
Lazard Private Equity has exited Australian automotive parts retailer Midas to Metcash, which owns brands including IGA supermarkets and Lucky 7 convenience stores, as well as a string of liquor, hardware and automotive businesses.
CVC buys KFC Korea franchise
CVC Capital Partners has agreed to buy the South Korea KFC business from domestic conglomerate Doosan for KRW100 billion ($97.9 million).
Bain to buy majority stake in Australia drink bar franchise
Bain Capital has agreed to acquire a 70% stake in Retail Zoo, the owner of Australian health drink franchise Boost Juice Bars, from The Riverside Company.
Carlyle opens Jakarta office
The Carlyle Group has opened has expanded its Asia presence to Indonesia, opening an office in Jakarta, its ninth in the region.
General Atlantic to invest $150m in China's Jumei alongside IPO
General Atlantic has agreed to invest $150 million in Jumei International Holding, a Chinese online beauty products retailer that is seeking to raise up to $204 million through a US IPO.
Emerald Hill raises $400m for third Asia fund-of-funds
Emerald Hill Capital Partners has reached a final close of $400 million for its third Asian fund-of-funds. Endowments and foundations account for the vast majority of LPs, with about 75% of investors in Fund II re-upping for Fund III.
IFC, Asia Green Capital team up on renewables
International Finance Corporation (IFC) will partner clean energy-focused investor Asia Green Capital Partners (AGCP) in backing renewable energy projects in Southeast Asia, particularly Indonesia.
Tiger Global leads LimeRoad $15m Series B round
Tiger Global has led a $15 million Series B round of investment in LimeRoad, a social e-commerce site aimed at women in India.
Denham Capital invests $200m in Asia coal play
Denham Capital will invest $200 million in Pembroke Resources as the newly-formed company looks to develop a portfolio of metallurgical coal assets across Australia, New Zealand and Indonesia.
Alibaba files for US IPO
Chinese e-commerce giant Alibaba Group has filed the registration documents for an IPO that is expected to raise more than $15 billion and could surpass Facebook as the largest tech offering in history.
Olympus leads $65m round for India's DM Healthcare - report
Indian hospital chain Aster DM Healthcare is said to be raising $65 million from existing backers Olympus Capital Asia and India Value Fund Advisors (IVFA).
Intel Capital launches China smart devices fund
Intel Capital - the corporate VC arm of chip maker Intel Corp - has launched a $100 million China-focused vehicle targeting businesses developing smart devices, wearables and other technology related to the internet of things (IoT) space.
Australia delays pension fund portfolio disclosure rules
The Australian government has once again postponed the introduction of legislation that could require superannuation funds to disclose not only the identity of the GPs they are backing but also details of the each fund’s holdings.
Partners Group opens Mumbai office
Partners Group has opened its first India office in Mumbai, taking its total number of locations in Asia to six and 17 globally.
ADB commits $60m to OrbiMed's second Asia fund
The Asian Development Bank (ADB) is to commit up to $60 million to Orbimed Advisors' second Asian healthcare fund - OrbiMed Asia Partners II.
UTEC invests $2m in Japan broadband service
University of Tokyo Edge Capital (UTEC) has invested JPY200 million ($1.9 million) in Nabiq, a Japanese provider of wireless broadband services for businesses, as part of Series A round of funding.
AVCJ daily bulletin returns May 7
AVCJ's daily bulletin will not be published on Tuesday May 6 due to the public holiday in Hong Kong.
Carlyle, Unison seek buyer for Covalent Materials - report
The Carlyle Group and Japan's Unison Capital are reportedly seeking a buyer for semiconductor parts manufacturer Covalent Materials Corp.
India’s Multiples targets $500m for Fund II
Multiples Alternate Asset Management, the private equity firm set up by Renuka Ramnath after departing ICICI Venture, is said to be targeting around $500 million for its second India-focused fund.
SE Asia power developer Navigat gets additional PE backing
Indonesia-focused PE firm Mahanusa Capital and Gunung Sewu Group have invested $21 million in Navigat Group, a distributed power plant developer and power equipment distributor in Southeast Asia.
Bessemer leads Series B round for India’s TaxiForSure
Bessemer Venture Partners has led a $10 million Series B round of funding for Indian car rental and taxi booking site TaxiForSure.com.
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.
RRJ, Temasek back ING insurance unit
RRJ Capital and Temasek Holdings have agreed to invest EUR1.28 billion ($1.8 billion) in NN Group (NNG), the insurance unit of Dutch lender ING Group.
India's Piramal commits $131m to Shriram City Union Finance
Piramal Enterprises - the flagship business of India healthcare conglomerate Piramal Group - has agreed to buy a 9.99% stake in private equity-backed non-banking finance company (NBFC) Shriram City Union Finance (SCFU) for INR7.89 billion ($130 million).