News
Oaktree, Centerbridge make renewed Billabong refinancing offer
Oaktree Capital and Centerbridge Partners have made a fresh recapitalization offer of A$325 million ($292 million) for ailing Australian surfwear brand Billabong to compete with a revised proposal put forward by an Altamont Capital Partners-led consortium...
VC-backed Montage Technology targets $115m US IPO
Montage Technology Group, a China-based semiconductor manufacturer backed by AsiaVest Partners and Intel Capital, is seeking to raise up to $115 million through a NASDAQ IPO. It is set to become only the second PE-invested Chinese company to go public...
Longreach completes precision drilling carve-out from Hitachi
North Asia mid-market buyout firm The Longreach Group has agreed to buy precision drilling business Hitachi Via Mechanics (HVM) from Japanese conglomerate Hitachi. It is said to be the first time Hitachi has divested a sizable asset to private equity...
CPE backs Adamas China credit fund, first close expected by end of August
China Private Equity Investment Holdings (CPE) is to invest $1 million in Adamas Asset Management's $275 million Greater China Credit Fund. The vehicle has received commitments from around 35 LPs and is on course to reach a first close of $78 million...
KV Asia closes debut fund above target at $263m - update
KV Asia Capital has closed its debut fund at $263 million, exceeding the initial target of $250 million. The capital will be deployed in mid-size companies in Southeast Asia.
GIC to acquire Blackstone stake in UK office complex - report
The Blackstone Group will reportedly sell its stake in London’s Broadgate complex to GIC Private for more than GBP1.7 billion pounds ($2.7 billion) in one of Europe’s largest office deals.
Jungle Ventures, Spring Seeds invest in Singapore’s Taggo
Taggo, a marketing start-up that helps retailers turn their Facebook pages into loyalty programs, has raised Series A funding led by Jungle Ventures and Spring Seeds Capital, the investment arm of the Singapore government’s Spring agency.
Nippon Venture Capital invests $1.7m in internet start-up Volare
Nippon Venture Capital has invested JPY170 million ($1.7 million) in Japanese web solutions start-up Volare.
Media investor Bruno Wu to raise $500m PE fund
Chinese media entrepreneur Bruno Wu plans to raise a $500 million media-focused private equity fund. The vehicle will invest in small to medium-sized internet, digital media and e-commerce companies.
China’s Jiuding to launch mezzanine fund
China’s Kunwu Jiuding Capital plans to raise a renminbi-denominated mezzanine fund to provide local companies with debt solutions where pure equity is not appropriate.
NDRC stops registering domestic private equity funds
The National Development and Regulatory Commission (NDRC) is said to have stopped registering for domestic private equity funds, having lost out to the China Securities Regulatory Commission (CSRC) in the battle to become the asset class' preeminent regulator.
Phillip Capital takes stake in Indonesian equipment finance business
Singapore-based Phillip Capital Group has acquired a 9.71% stake in Intan Baruprana Finance (IBF), the financing arm of Indonesian heavy equipment distributor Intraco Penta, through a rights issue. Transaction value was not disclosed.
Baring Asia to invest in PE-backed Hexaware - report
Baring Private Equity Asia (BAPE) is said to be in talks to back Hexaware Technologies, with a view to taking a majority stake in the Indian software company.
Aavishkaar backs Indian ATM outsourcing company EPS
Indian VC firm Aavishkaar has invested another $6 million in Electronic Payments and Services (EPS), after putting $4 million in the company last year.
Cathay Capital invests $20m in China cold chain company
Cathay Capital Private Equity has agreed to invest RMB120 million ($19.6 million) in Chinese refrigerated transport company Shanghai Zhengming Modern Logistics (ZM Logistics). The size of the stake was not disclosed.
PE firms bid for Fortis’ Quality Healthcare - report
The Carlyle Group, Advent International and Mitsui and Co. are among the 10 bidders for Hong Kong’s Quality Healthcare Medical Services, which is being sold by PE-backed Fortis Healthcare.
AMP Capital exits Australia care home stake to Singapore’s G.K. Goh
AMP Capital has agreed to sell a 47.62% stake in Domain Principal Group (DPG), a leading Australian provider of residential aged care services, to Singapore-listed G.K. Goh Holdings (GKGH) for A$136.7 million ($123.6 million).
Advantage to acquire Japan massage salon chain Riraku
Advantage Partners has agreed to buy Japanese massage salon chain Riraku for an undisclosed sum. The mid-market buyout firm is acquiring the business from the founder and CEO and other shareholders.
Blackstone offers $322m for property developer Tysan
The Blackstone Group has offered to buy Hong Kong-listed real estate developer Tysan Holdings for approximately HK$2.5 billion ($322.5 million)
CITIC Capital RMB fund backs China’s SF Express
A consortium comprising CITIC Capital, Suzhou-based Oriza Holdings and China Merchants Group has bought a 25% stake in China’s SF Express, a Shenzhen-headquartered express delivery services provider. Financial details were not disclosed.
IDG leads Series A for Chinese online game developer Ejoy
IDG Capital Partners has led in a Series A round of funding for Ejoy, a Chinese online gaming developer formed by former executives at NetEase Group. Financial terms were not disclosed but this latest investment brings the total capital raised by Ejoy...
CyberAgent, Gree, GMO invest in Japan’s Kaizen platform
CyberAgent Ventures, Gree Ventures and GMO Venture Partners have together invested $800,000 in Kaizen platform, the Japanese start-up behind website service planBCD.
Unitas, CCMP set for 3.5x return as Atlas Copco buys Edwards for $1.6b
Unitas Capital will make up to 3.5x its money on Edwards Group after Sweden’s Atlas Copco agreed to buy the specialist vacuum products developer for approximately $1.6 billion, including debt. Unitas and CCMP Capital have owned the business since 2007...
Australia’s Starfish Ventures scales back team
Malcolm Thornton and Nick Peace are set to leave Australian VC firm Starfish Ventures, having converted from investment directors to venture partners. They will continue to work with existing portfolio companies until exit at which point the two are expected...