News
Axiom closes third Asia fund at $1.15b - update
Axiom Asia Private Capital, Singapore-headquartered independent fund-of-funds manager, has closed its third Asia fund at $1.15 billion.
Abraaj Capital to complete more deals in Asia
Abraaj Capital is set to complete more deals in Asia in the next few months. The Middle East private equity firm will look for deals largely in India and pursue possible acquisitions in natural resource companies in Indonesia.
Indonesian Pay-TV operator revives $400m IPO plan
PT MNC Skyvision, a unit of media group PT Global Mediacom and the largest pay TV company in Indonesia, will once again seek to raise up to $400 million via an initial public offering in June, in a bid to tap opportunities brought about by a rise in consumer...
ChrysCapital invests $31m in Karur Vysya Bank
Private equity firm ChrysCapital has invested INR1.6 billion ($31 million) for a 3.92% stake in India's Karur Vysya Bank as part of a PIPE transaction.
INCJ to buy UK wind power firm for $850m
Japanese state-sponsored fund Innovation Network Corp of Japan (INCJ) is tipped to buy a 50% stake in British wind power engineering firm Seajacks International for around $850 million.
Japan's KDDI, Global Brain to launch $66m VC fund
KDDI Corporation, a Japanese telecommunications company, has teamed up with Brian Corporation to establish a $66 million fund that will invest in start-ups in the US, Japan and other Asia Pacific regions. The fund, which focuses on the mobile space, is...
India's Wadhawan Group to set up PE funds
Wadhawan Group, a conglomerate controlled by the Wadhawan family which also runs housing finance company DHFL, plans to launch multiple private equity funds to expand its financial services operations.
SCM opens office in Seoul
Swiss institutional investment advisor SCM Strategic Capital Management, which offers private equity fund-of-funds and advisory services, is expanding its footprint in Asia by opening a new office in Seoul.
Carlyle, Everstone join race for Thomas Cook India - report
The Carlyle Group, Everstone Capital, TA Associates and Bravia Capital have joined the likes of KKR and Actis in competing for Thomas Cook India.
Spreadtrum commits $10m to India’s PE-backed Micromax
Chinese semiconductor manufacturer Spreadtrum Communications has invested $10 million in PE-backed Micromax Informatics, one of India’s largest mobile phone brands. As part of the deal, the companies have established a partnership that will see Spreadtrum...
NAB offloads debt in CVC-backed Nine Entertainment
National Australia Bank (NAB) has sold off its entire holding of debt in CVC-backed Nine Entertainment. The bank offloaded A$86 million ($90 million), with media reports quoting a price of A$0.85-087 on the dollar.
Primus president resigns from New China Life Insurance
New China Life Insurance’s non-executive director Guocang Huan, who is also the president of Asian PE house Primus Pacific Partners, left the company on Monday.
GIC commits $100m to Vasan Healthcare
Government of Singapore Investment Corp. (GIC) has invested $100 million for a minority stake in Vasan Healthcare, which runs eye care hospitals across India. The transaction is the largest PE deal in the country's healthcare industry since Olympus Capital’s...
Subsea backs NZ mining project
Subsea Investments II, a private equity fund backed by US-based LPs, will invest up to $7 million for shares issued by NZAX-listed Chatham Rock Phosphate (CRP).
Baring, Sequoia invest $29m in Manappuram
Baring Private Equity Partners India and Sequoia Capital India have invested INR1.3 billion ($29 million) to increase their stake in Manappuram Finance, a non-bank financial company (NBFC) specializing in loans based on gold.
Lilliput founder says L Capital has submitted bid
Lilliput Kidswear’s founder and managing director claims to have received an offer for the struggling business from L Capital, the private equity arm of luxury goods giant LVMH. A sale would facilitate the exit of Bain Capital and TPG Capital.
Los Angeles pension fund invests $25m in Hony V
Los Angeles City Employees’ Retirement System (LACERS) committed up to $25 million to Hony Capital Fund V, which closed in January at $2.4 billion, $1 billion larger than its predecessor.
Chinese PE players continue to go west
Chinese private equity investors are moving west to tap opportunities in the country’s underdeveloped inland provinces, according to a recent study conducted by global management consulting firm Bain & Company and the European Union Chamber of Commerce...
Advantage Partners may extend investment deadline
Advantage Partners may extend the June deadline for investment from its $2.6 billion buyout fund due to limited dealflow. The buyout firm will make a decision by the end of April.
Everstone in talks with Indian spa salon operator
Everstone Capital is negotiating the purchase of a majority stake in Indian spa salon chain You Look Great (YLG). Helion Venture Partners, an existing investor in the company, is also participating in the talks.
Australia Music Group gets private equity lifeline
Revere Capital has injected funding into Australia Music Group (AMG) as part of internal restructuring efforts. Like many retailers in Australia, the company is struggling during a period of poor consumer sentiment.
TVS, IFC back Dunar Foods with $25m
TVS Capital and International Finance Corp. (IFC), the investment arm of the World Bank, have invested INR1.24 billion ($25 million) for a minority stake in Indian basmati rice supplier Dunar Foods.
Gobi reaps 60% IRR on CIB trade sale
Venture firm Gobi Partners has reaped an IRR of 60% on the sale of its minority stake in Malaysian online games operator CIB Development to listed gaming company Asiasoft.
ASX chairman to lead Australia’s Future Fund
David Gonski will relinquish his role as chairman of the Australian Stock Exchange (ASX) to head up Future Fund, the country’s A$90 billion ($95 billion) sovereign wealth vehicle. He replaces David Murray, former CEO of Commonwealth Bank of Australia.