News
PEP-owned Spotless targets $928m IPO
Spotless Group, the Australia and New Zealand-focused cleaning and catering contractor bought by Pacific Equity Partners (PEP) in 2012, is seeking to raise approximately A$1 billion ($928 million) through an IPO.
CVC completes South Beauty restaurant acquisition
CVC Capital Partners has completed its acquisition of a majority stake in Chinese restaurant chain South Beauty.
KKR boosts Capstone's China capabilities
KKR has appointed Matthew Chang as a managing director in its Capstone unit. He will lead the PE firm’s engagement with its portfolio companies in China.
INCJ-backed JV acquires NZ-based packaging business
A Japanese joint venture - 40% owned by the Innovation Network Corporation of Japan (INCJ) - has acquired the pulp, paper and packaging (PPP) unit of New Zealand-based forest products company Carter Holt Harvey (CHH) for just over NZ$1 billion ($857 million).
SingTel Innov8, Foxconn back Singapore's KAI Square
KAI Square, a Singapore-based video analytics firm, has obtained S$4 million ($3 million) in Series B funding from Foxconn Technology Group and SingTel Innov8.
NYSTRS confirms $100m commitment to CVC Asia fund
New York State Teachers’ Retirement System (NYSTRS) has confirmed a $100 million commitment to CVC Capital Partners’ fourth Asia buyout fund.
Sequoia provides Series A for India's SirionLabs
Sequoia Capital has agreed to provide $4.7 million in Series A funding to SirionLabs, a software-as-a-service (SaaS) provider based in India and the US.
CDH eyes summer close for recalibrated VC fund
CDH Investments is targeting a $150 million final close on its third China venture capital fund, having suspended marketing for a year following a decision to cut back the investment remit and vehicle size.
Zephyr targets $60m Sri Lanka fund
Global emerging markets investor Zephyr Management is looking to raise up to $60 million for a Sri Lanka-focused private equity fund.
China’s JD Capital approved to trade on OTC board
JD Capital, formerly Jiuding Capital, has won regulatory approval to list on China’s over-the-counter (OTC) board.
China to open up infrastructure for private investment
China will open up 80 infrastructure projects for private capital, allowing financial investors to play a greater role in what remains a largely state-controlled sector.
ZhenFund invests $1.6m in China robot education school
China-focused early-stage investor ZhenFund has committed RMB10 million ($1.6 million) in seed funding to Roborobo, a China-based robot teaching school.
Korea’s KIC targets 20% alternatives allocation
Korea Investment Corp. (KIC) will double its investments in alternative assets over the next 10 years. This would take the sovereign wealth fund’s allocation to the asset class to 20% out of a total corpus of $72 billion.
Australia’s PEP reaches $1b first close on Fund V
Pacific Equity Partners (PEP) has reached a first close of just under A$1.1 billion ($1 billion) on its fifth fund. The Australian GP is targeting A$2 billion in core equity, which will be supplemented by co-investment from a handful of sophisticated...
Fosun launches VC arm in Silicon Valley
Chinese conglomerate Fosun International has launched a venture capital arm operated in Silicon Valley. The firm, Kinzon Capital, has received $100 million from Fosun to invest in US-based start-ups.
Trustbridge joins round for China food ordering site Meican
Meican, a Chinese food ordering platform, has received an undisclosed sum in follow-on funding from Trustbridge Partners to complete a Series B round of funding.
China encourages PE to provide rural financing
China is encouraging private equity and venture capital firms to participate in rural financing, as a means of supporting rural development and lifting the economy.
Mekong, CDH complete partial exit from Vietnam’s Mobile World
Mekong Capital and CDH Investments have completed partial exits from Vietnamese mobile phone retailer Mobile World through a pre-IPO private placement. Mekong’s portion of the sale represents a 21.8x return on an investment made in 2007.
Cerberus-backed Seibu gains 11% on trading debut
Seibu Holdings, which counts Cerberus Capital Management as its largest shareholder, saw its stock rise 11% on its trading debut in Tokyo on Wednesday.
Ardian raises largest ever global secondaries fund
Ardian, known as Axa Private Equity until it spun out last year, has raised $9 billion for its latest global secondaries fund.
PE-backed WH Group to scale back Hong Kong IPO
WH Group, the PE-backed Chinese meat processing company that acquired US pork producer Smithfield Foods, is set to reduce the size of its Hong Kong IPO size and delay pricing of the deal.
US-based Weebly secures $35m from Tencent, Sequoia
Tencent Holdings and Sequoia Capital have invested $35 million in a Series C round of funding for Weebly, a US-based web-hosting services provider.
China's ClearVue leads round for Japanese-style restaurant chain
ClearVue Partners has led a $10 million round of funding for Akasakatei, a Japanese cuisine restaurant chain in China.
India's Kedaara seals debut deal
India-focused GP Kedaara Capital has made its first investment, taking a 23% stake in Mahindra Logistics for INR2 billion ($32.7 million).