News
CNEI secures 9.4x return on partial exit from Liyuan Aluminum
China New Enterprise Investment (CNEI) has completed a partial exit from Jilin Liyuan Aluminum, one of the country’s leading aluminum extrusion product manufacturers, securing a 9.4x gross return.
China considers new rules for private funds
Chinese legislators are reviewing a draft amendment to the Securities Investment Funds Law that would impose new regulations on private equity vehicles. The changes are designed to restrict illegal fundraising and insider trading.
KKR takes majority stake in Australia’s GenesisCare
KKR has picked up a 63% interest in Australia’s GenesisCare, which provides services to patients with cancer and cardiovascular disease. It represents the latest in a string of healthcare sector deals by private equity firms, with TPG Capital and The...
General Mobile gets $5m from Singtel Innov8, Mitsui
SingTel Innov8 and Japan’s Mitsui & Co. have led a $5 million round of funding for General Mobile, a company that provides mobile internet services to customers in emerging markets. Existing investors in General Mobile include Taiwan-based MediaTek,...
New Zealand’s MOVAC closes third fund at $33m
New Zealand-based early-stage investor MOVAC has raised NZ$42 million ($33.2 million) for its third fund. It will invest sums of NZ$1-5 million in local companies with an established track record that require growth capital.
Sinopharm Capital to launch $157m RMB fund
Sinopharm Capital, a subsidiary of drug distributing conglomerate Sinopharm, has launched an RMB1 billion ($157 million) fund that will invest in different segments of the healthcare industry.
Indian deal values increase in first quarter - PwC
The value of private equity deals in India jumped 57% during the first three months of this year compared to the fourth quarter of 2011, according to a new report. The number of deals decreased 24% over the same period, however.
ASK Property closes $175m real estate fund
ASK Property Investment Advisors (ASKPIA), a subsidiary of financial services firm ASK Group, has announced a final close of its second real estate fund on INR10 billion ($175 million).
Coller Barometer: Asia Pacific PE growth trend to continue
Global investors will continue to up their exposure to Asia-Pacific private equity over the next three years, according to the latest edition of Coller Capital’s Global Private Equity Barometer.
MineralTree in $6.3m round led by Fidelity India
Fidelity Growth Partners India has led a $6.3 financing round for Boston-based MineralTree, which provides cloud-based secure payments services for small- and medium-sized enterprises (SMEs). Existing investor .406 Ventures also participated.
Morgan Stanley invests $210m in Continuum Wind Energy
Morgan Stanley Infrastructure Partners has agreed to buy a majority stake in Continuum Wind Energy for INR12 billion ($210 million). The Singapore-based company, which was set up Essar Group executive Vikas Saraf and investment banker Arvind Bansal, runs...
Billabong poised for takeover as share price tumbles
Australian surfwear retailer Billabong International saw its stock slump 36% when it resumed trading on Monday following a heavily discounted $225 million rights issue. The company is now worth less than one third of the value of TPG Capital’s A$841...
Baring increases its stake in Manappuram Finance to 5.94%
Baring India Private Equity has increased its stake in Manappuram Finance, a non-bank financial company (NBFC) specializing in loans based on gold.
Bain buys half of Japanese TV shopping channel for $1.3b
Bain Capital will buy a 50% stake in Jupiter Shop Channel (JSC), a television shopping company, from Japan-based Sumitomo Corporation. Industry sources noted that the deal is worth JPY100 billion ($1.3 billion), which might be Japan's largest private...
Robin Bell-Jones to lead Permira’s TMT coverage in Asia
Permira has redeployed Robin Bell-Jones from London to Hong Kong as part of efforts to expand the firm’s investment activities across Asia.
ICICI Venture in second attempt to offload Updater Services
Indian investor ICICI Venture is attempting to exit its stake in Indian facilities management company Updater Services for the second time.
Milestone backs China restaurant chain IPO
Milestone Capital Partners has agreed to become a cornerstone investor in Chinese restaurant chain Xiao Nan Guo’s Hong Kong IPO. The company is looking to sell 341.25 million shares at HK$1.50 to raise HK$511.5 million ($65.9 million). A Milestone subsidiary...
Carlyle seeks $1.9b Coates Hire refinancing
The Carlyle Group is in negotiations with banks to refinance the A$1.9 billion ($1.9 billion) in leverage used to purchase Australian equipment hire company Coates Hire.
MBK named preferred bidder for Korea’s Hi-Mart
MBK Partners has been chosen as the preferred bidder for South Korean electronics retailer Hi-Mart. The company said in a statement to the Korean Stock Exchange that its largest shareholder, Eugene Corp, had made the decision.
KKR reaches halfway point on $6b Asia fund
KKR has reached the halfway point in fundraising for its second Asia fund, receiving more than $3 billion in commitments. According to a regulatory filing, third-party investors have pledged $2.76 billion to KKR Asian Fund II, with general partners putting...
Indonesia's Saratoga closes fund three at $600m
Saratoga Capital has closed its third fund at $600 million, according to sources familiar with the situation. It took the Indonesia-based firm about six months to close the new vehicle, which will make investments across Southeast Asia.
Temasek talks up China, favors property, financials, healthcare
Temasek Holdings has reaffirmed its commitment to China, saying that urbanization and the rise of the middle classes will continue to drive the economy forward regardless of short-term concerns about slowing growth. Real estate, healthcare and energy...
KKR puts Bis Industries on the block
KKR has put its mining services and logistics business Bis Industries on the block. The Australian company has been valued at around $1.8 billion including debt.
PE-backed M&A picks up in second quarter
Private equity-backed M&A in Asia Pacific recovered during the second quarter of 2012, as deal value increased 32.9% to $5 billion from last quarter. This comes after consecutive quarterly decline since the start of 2011.