News
Corporate Japan more open to PE partnerships – AVCJ Forum
Corporate Japan is more open to the idea of working with private equity partners, but ensuring alignment of interests remains a challenge, according to David Shen, regional managing director of Olympus Capital Holdings Asia.
IndoUS Ventures leads Vyome Biosciences Series A round Partners
Vyome Biosciences, a Delhi-based biopharmaceutical company that focuses on dermatology, has raised $3.3 million in Series A financing. The round was led by IndoUS Venture Partners, with Aarin Capital and existing investor Navam Capital also participating.
Motilal Oswal PE to set up real estate fund
Motilal Oswal Private Equity is planning to set up a real estate fund worth up to INR6 billion ($108 million). The fund will tap both institutional investors and high net worth individuals (HNWIs).
PE-backed Max India sells polypropylene film unit for $97m
Max India, which is backed by Goldman Sachs, International Financial Corporation (IFC) and Temasek Holdings, has sold its biaxially oriented polypropylene (BOPP) film division to Germany's Treofan for INR5.4 billion ($97 million). The divestment allows...
Global buyout firms see rich pickings in Japan – AVCJ Forum
The scope for private equity buyouts in Japan is widening due to falling public market valuations and clear opportunities for value-add within portfolio companies, according to panelists at the AVCJ Japan Forum, which opened in Tokyo on Thursday.
CITIC PE backs $331m take-private bid for China’s 3SBio
CITIC Private Equity is supporting a $331 million management buyout offer for NASDAQ-listed Chinese pharmaceuticals company 3SBio. It is the latest in a string of attempted take-private deals for US-traded Chinese firms that for a variety of reasons are...
Longreach nears $400m final close on second fund
The Longreach Group is nearing a final close of around $400 million for its second fund. An announcement is expected within a month, market sources told AVCJ.
Temasek, Bain in race for TPG's Shriram Transport stake - report
Temasek Holdings, Bain Capital and Piramal Group, a conglomerate run by Ajay Piramal, are reportedly leading the race to acquire TPG Capital's 20% stake in Shriram Transport Finance Corp (STFC), one of the leading commercial vehicle lenders in India.
Carlyle-backed Haier offers $705m for Fisher & Paykel
Carlyle-backed Haier Group has put in a NZ$869 million ($705 million) buyout offer for Fisher & Paykel Appliances (F&P), the New Zealand-based kitchen and appliance manufacturer. The Chinese company is willing to pay NZ$1.20 per share in cash - a 15.4%...
Carlyle, Multiples back South Indian Bank
The Carlyle Group and Multiples Alternate Asset Management have participated in a qualified institutional placement (QIP) for South Indian Bank, which raised INR4.4 billion ($80 million) from eight investors.
Banks invited to finance PE-backed Focus Media buyout - report
Banks in Asia are reportedly being approached to provide up to $1.7 billion in financing for the private equity-backed management buyout of NASDAQ-listed Focus Media Holding.
Actis appoints two new directors in Asia
Actis has appointed two new directors, Danny Koh and Max Lin, who will be based in Singapore and Beijing, respectively. Koh will be head of deal origination for Southeast Asia while Lin will focus on China investments.
PAG announces final close of $2.5b on Asia fund
PAG has announced a final close on its debut private equity fund at $2.5 billion. PAG Asia I is a pan-regional buyout vehicle with a particular focus on China. The vehicle is slightly larger than Baring Private Equity Asia's fifth vehicle, which closed...
China investment in Europe surges in second quarter
China’s outbound direct investment reached $24 billion in the second quarter of 2012, up 67% year-on-year, according to a research published by Sino-European private equity firm A Capital. Investment in Europe – which accounts for 48% of total deals...
CLSA Capital Partners invests $15m in India's Earth Water
CLSA Capital Partners (CLSA CP) has invested $15 million for a 20% stake in New Delhi-based Earth Water Group (EWG), a water and wastewater management company.
IFC confirms $20m India energy fund commitment
International Finance Corporation (IFC), the private investment arm of the World Bank, has confirmed its $20 million investment in Nereus India Alternative Energy Fund, a vehicle focused on renewable power generation and clean technologies.
Carlyle-backed China Pacific taps sovereign funds
China Pacific Insurance, a portfolio company of The Carlyle Group, has sold HK$10.4 billion ($1.3 billion) in new shares to Government of Singapore Investment Corp. (GIC), Norges Bank and Abu Dhabi Investment Authority (ADIA).
IFC considers loan for India wind power portfolio company
International Finance Corporation (IFC) may provide a $19 million loan to India’s NSL Group to support the development of a wind farm in the western state of Maharashtra. IFC already holds a 9.3% stake in the NSL subsidiary responsible for the project...
Lazard extends Australia corporate advisory reach
Lazard Australia has agreed to purchase independent corporate advisory firm O’Sullivan Partners. The Sydney-based player is an acknowledged media specialist and can also claim to have won several notable private equity mandates, including three from...
Nexus closes third India fund at $270m
Nexus Venture Partners has announced a final close for its third fund at $270 million, around $50 million more than for its previous vehicle. Investors include endowments, foundations and financial institutions across North America, Europe and Asia. All...
China, Russia sovereign funds invest in forestry firm
China and Russia’s sovereign wealth funds will invest $200 million for a minority stake in Russia Forest Products. This will be the first investment channeled through the Russia-China Investment Fund, a joint private-equity fund established by China...
MGPA announces first close on Asia real estate fund
MGPA, a private equity real estate investment firm, has held a first close on a EUR500 million ($639 million) Asia property fund targeting German investors. The vehicle has so far received EUR85 million ($109 million) from three German institutions.
Goldman tables Nine Entertainment debt proposal – report
Goldman Sachs has reportedly put together a restructuring proposal for Nine Entertainment that would see the Australian company’s A$3.8 billion ($3.9 billion) in debt convert to equity, writing off the vast majority of CVC Capital Partners’ investment.
Warburg Pincus gets FIPB approval for Future Capital deal
Warburg Pincus has won approval from India’s Foreign Investment Promotion Board (FIPB) for a INR8.08 billion ($145 million) investment in non-bank finance company (NBFC) Future Capital Holdings.