News
Billabong says TPG talks continue despite diligence concerns
Billabong said that buyout negotiations with TPG Capital continue after its stock plunged 20% on reports that the private equity firm was poised to walk away from the A$694 million ($709 million) deal. Trading was halted as the share price fell from A$1.30...
Oaktree exits aircraft leasing firm to Japan’s Mitsubishi UFJ
Oaktree Capital Group has sold aircraft leasing firm Jackson Square Aviation to Japan’s Mitsubishi UFJ Lease & Finance Co. for JPY100 billion ($1.3 billion).
3i’s Nikhil Gahrotra joins BanyanTree
Banyan Tree Finance has poached Nikhil Gahrotra from 3i Group, where he was working as associate director. He joins the mid-market PE firm as a director.
Nominations open for the 2012 AVCJ India Awards
The AVCJ Editorial Board is pleased to announce that nominations for the 2012 Awards are now open. We are inviting our entire reader base and many others in the industry to put forward candidates to be considered for the nomination shortlist.
Morgan Stanley supports Feihe International MBO bid
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with the chairman and CEO of Feihe International to make a buyout offer for the US-listed Chinese company. The transaction values Feihe, a leading producer of infant formula and milk powder, at...
Lazard’s Costa joins Developing Markets Capital Partners - report
Developing Markets Capital Partners (DMC), a private equity firm launched by three ex-Goldman Sachs executives, has hired Ken Costa, former chairman of Lazard’s international arm as a partner.
Fulcrum reaps 10x from Casa Grande exit
SME-focused private equity firm Fulcrum Venture India has reaped a money multiple of 10x from its investment in Indian real estate company Casa Grande.
China’s Cathay Fortune in $848m takeover bid for Discovery Metals
Cathay Fortune Corp, a private equity firm founded by Chinese billionaire Yu Yong, has made a A$830 million ($848 million) takeover bid for Australian copper producer Discovery Metals. A fund set up by China Development Bank (CDB) is supporting the proposed...
Actis invests in Sri Lankan hospital chain
Emerging markets-focused private equity firm Actis has invested $32 million for approximately 30% of Asiri Hospital Holdings (AHH), Sri Lanka’s largest private hospital group. The company operates three facilities in Colombo and two in Matara, with...
MoFo hires ex-A&O PE specialist Jeremy Hunt
Morrison & Foerster has recruited Jeremy Hunt as a partner in its Hong Kong-based corporate practice. Hunt joins after 24 years at Allen & Overy, where he worked on numerous private equity transactions involving the likes of The Carlyle Group, Temasek...
Baring PE Asia in new attempt at Courts IPO
Baring Private Equity Asia has resumed efforts to list electronics and furniture retailer Courts Asia in Singapore. The PE firm, which controls Courts through Asia Retail Group, attempted an IPO in 2010 but withdrew the offer due to valuation concerns.
Bonderman praises India finance minister
David Bonderman, founder of TPG Capital, has said that the change in the finance minister for India has enhanced sentiment about the country as a place to do business. His firm plans to put more effort into hunting down local investment opportunities...
Intel Capital invests in five Asian companies
Intel Capital, the venture capital arm of Intel Corp, has invested $40 million in 10 companies, half of which are from China, India, South Korea and Taiwan.
IUVP rebrands as Kalaari Capital, closes $150m India VC fund
The founders of Indo US Venture Partners (IUVP) have established Kalaari Capital Advisors, a new fund manager that has raised a venture capital vehicle worth $150 million for the Indian market.
Next-backed Hirepool in talks to buy Tasman Capital-owned HireQuip - report
Hirepool, the New Zealand rental equipment specialist owned by Australian private equity firm Next Capital, is reportedly in exclusive talks to purchase its indebted rival, HireQuip, which is owned by Sydney-based Tasman Capital.
Founder of Australia’s Seek plans PE platform
Paul Bassat, co-founder of Australian job search site Seek, is looking to set up a private equity platform with Tony Holt, who recently left his position as a senior managing director with Macquarie Group in Hong Kong.
Everstone, JLL in India property management tie-up
Everstone Capital has reached an agreement with Jones Lang LaSalle India under which the property manager will assume responsibility for four shopping malls in Pune, Kochi, Vadodara and Ahmedabad. It will provide leasing services and oversee operations,...
TPG hires Credit Suisse’s Francis Woo for Southeast Asia – report
TPG Capital has reportedly hired Francis Woo as a principal for its Southeast Asia team. He was previously director and co-head of corporate finance for Southeast Asia at Credit Suisse.
VenturEast hires ex-DFJ partner to run India seed fund
India-focused VC firm VenturEast has hired Sateesh Andra, formerly a partner at Draper Fisher Jurvestan, to head up its seed-stage technology fund. His remit is to create a Silicon Valley-like incubation ecosystem and help companies tap into global venture...
ADIA hires new head of principal investments
Abu Dhabi Investment Authority (ADIA) has appointed Colm Lanigan as head of principal investments in its private equities department. Working alongside senior management, Lanigan is responsible for the identification, execution and management of direct...
Greenpark promotes Daniel Green to CIO
Greenpark Capital has promoted Daniel Green to CIO. He joined the firm in 2001 and was previously an investment director, serving on the secondary specialist’s executive team and investment committee.
AVCJ daily bulletin returns October 3
There will be no AVCJ bulletin on October 1-2 due to a public holiday in Hong Kong marking the Mid-Autumn Festival and China's National Day.
Navis invests in Vietnam pharma firm
Navis Capital Partners has invested into OPV Pharmaceutical, a major Vietnamese branded generic pharmaceutical manufacturer.
IDFC reaps 2x on Gujarat Pipavav partial exit
IDFC Alternatives has sold off more than 4% of Indian container terminal Gujarat Pipavav Port for $18.7 million, reaping a money multiple of 2x on its initial investment.