News
Apollo’s PE business drives up second-quarter earnings
A strong performance from Apollo Global Management’s private equity business saw second-quarter earnings reach $139.6 million, or US$0.31 per share, on the back of revenue jumped to $308.9 million from $79.3 million. According to US GAAP, Apollo posted...
CIC considers significant minority stake in GDF Suez
China Investment Corporation (CIC) is in negotiations to purchase a significant minority stake in French-based energy provider GDF Suez's exploration and production business for up to $4.2 billion, The Financial Times reported.
Bain, KKR to bid for PE-owned MYOB - report
Bain Capital and KKR are reportedly among the contenders to acquire Australian accounting software provider MYOB from owners Archer Capital and HarbourVest Partners. Bidding for the asset, which could reach A$1 billion ($1.03 billion), is slated to begin...
IFC makes $15m investment in green energy firm
International Finance Corp. (IFC), the World Bank’s investment unit, has committed $15 million to India biomass firm power Shalivahana Green Energy. The funds will be used for the company’s domestic expansion.
Higashiyama Film accepts CITIC Capital Japan's takeover bid
CITIC Capital Partners Japan announced that its tender offer for Higashiyama Film, a Nagoya-based industrial use film maker special film maker, has been accepted.
India’s GVK considers PE funding for roads business
GVK Power and Infrastructure is considering private equity funding for its roads business. Isaac George, CFO of GVK, said in an earnings conference call that a couple of investors have already expressed an interest in the company’s transport business.
Bright Food Group targets acquisition within six months
China’s Bright Food Group may make an acquisition in Europe or Australia within six months, the firm’s chairman has said. Wang Zongnan told Bloomberg that potential targets include the food distribution and sugar industries.
Korea's Atinum enters JV with US oil drilling firm
American oil exploration and drilling company SandRidge Energy will transfer a 13.2% interest in its 860,000-acre operating land in Oklahoma and Kansas to an affiliate of Korea’s Atinum Partners for $500 million. Of that figure, $250 million will be...
Japan's Orix targets $1b for China energy, infrastructure
Japanese financial services group Orix Corp. may allocate up to JPY80 billion ($1 billion) for private equity investments in China’s water, machinery and renewable energy spaces over the next two years, Bloomberg reported.
IDFC injects additional $18 m in Green Infra
IDFC Private Equity, a wholly-owned unit of India's Infrastructure Development Finance Company, will invest INR800 million ($18 million) in clean energy producer Green Infra. IDFC originally incubated the company in 2008 and has already invested INR3.6...
Temasek forms JV with South Africa's Oppenheimer family
Singapore’s sovereign wealth fund Temasek Holdings will form a joint venture private equity fund with South Africa’s E. Oppenheimer & Son International. James Teeger, group managing director at E. Oppenheimer, told Reuters that each party would make...
Mandolin Fund ups stake in Sino-Forest to 18%
Singapore-based Mandolin Fund now owns 18% of Sino-Forest, having increased its stake in the scandal-hit forestry company for the third time in four weeks.
Carlyle-backed New Century Hotel Group plans IPO
China’s New Century Hotel Group, one of The Carlyle Group’s portfolio companies, plans a $400 million IPO in Hong Kong in September, The Wall Street Journal reported, citing people familiar with the situation. Deutsche Bank and Morgan Stanley have...
Russia’s sovereign wealth fund seeks Chinese partners
Russia’s first sovereign wealth fund, the $10 billion Russian Direct Investment Fund (RDIF), which was set up in June, is seeking Chinese partners to co-invest in deals, Caixin reported.
Asahi to buy Independent Liquor for $1.3b – report
Asahi Group Holdings is set to reach an agreement this week on the JPY100 billion ($1.3 billion) purchase of Independent Liquor, which is owned by Pacific Equity Partners (PEP) and Unitas Capital, The Nikkei reported.
Collins shares drop 8% on trading debut
Australian fast-food group Collins Food, which was taken public by Pacific Equity Partners (PEP), saw its shares drop 8% on its trading debut. This came despite the offering being priced at the bottom of its A$2.50-$2.92 range.
MediAngels seeks $10m private equity investment
MediAngels, an India-based online medical consultation platform, is in talks with private equity funds over a $10 million investment, The Times of India reported. “We are in deep talks with four of the biggest US-based PE funds," said Dr. Debraj Shome,...
ICICI Venture's co-head K.S. Jangbahadur to rejoin JP Morgan - report
Co-head of ICICI Venture K.S. “Jang” Jangbahadur has departed the company to head JP Morgan’s private equity business, India’s Business Standard reported.
PE-backed Cima Claddings sells unit to Japan's JS Group
Private equity-owned Cima Claddings has sold its construction unit Permasteelisa to Japanese aluminum sash maker JS Group Corp. for JPY63 billion ($820 million).
India Innovation Fund makes second investment
India Innovation Fund (IIF) has closed its second investment, committing INR100 million to Bangalore-based digital media technology start-up Sure-Waves MediaTech. Accel Partners, another early stage investor, partnered IIF in the deal, The Economic Times...
Unison Capital, CJ Cheiljedang food additives bid fails
Unison Capital and CJ Cheiljedang Corp. have failed in their joint bid for Hayashibara, a Japanese food additives manufacturer. CJ Cheiljedang said in a statement to the Korea Stock Exchange that it had not been chosen as a preferred bidder.
KKR makes second investment into Avantha Power & Infrastructure
KKR has strengthened its ties to India’s Avantha Power & Infrastructure (APIL), co-investing an additional $120 million into the company less than a year after committing $50 million.
Permira taps Goldman's Alan Chen as China head
European PE major Permira has appointed Alan Chen, former executive director at Goldman Sachs’ special situation group, to lead its China operations, Reuters reported, citing sources close to the hire.
Update: Revived WestBridge reaches $500m fund target
WestBridge Capital Partners, the private equity fund relaunched by Sequoia Capital India’s founders, has reached the $500 million target for its new vehicle, the WestBridge Crossover Fund, within six months. According to the firm, the fund has been...