News
PE funds eye Jyothy stake sale
Mumbai-based consumer goods firm Jyothy Laboratories is reportedly looking to sells a minority stake in itself in an effort raise up to $200 million, and has approached private equity funds including Actis, Apax Partners, Carlyle and TPG about the deal....
Carlyle, Vestar sell down stakes in Asia-focused chemicals firm
Carlyle Group and Vestar Capital Partners sold down stakes in AZ Electronic Materials, an Asia-focused chemicals manufacturer, sending the London-listed company’s stock plunging 10% on Wednesday. Each private equity firm jettisoned a 10% holding – a total...
Rabobank makes Indian PE investment
The India Agri-Business Fund (IABF), a private equity vehicle owned by Rabobank, has agreed to invest INR101.75 crore ($22.6 million) in National Collateral Management Services (NCMSL), alongside the International Finance Corporation (IFC) and four existing...
Sanyo Electric exits homes division to Ant Capital
Japanese electronics major Sanyo Electric is set to exit its stake in the homebuilding division Sanyo Homes to Tokyo-based Ant Capital Partners, in a deal worth JPY500 million ($6 million).
PE funds to battle for Japanese sweetner specialist
South Korean conglomerate CJ Group and Japanese PE fund Unison Capital are believed to be part of a consortium pursuing sweetener manufacturer Hayashibara, also of Japan.
Blackstone sells Intelenet stake to UK support-services firm
Blackstone has sold its 66.25% stake in Indian BPO company Intelenet Global Services to Serco, the British support-services firm, for $634.2 million.
AMP in line for UK infrastructure asset
A consortium comprising Australia’s AMP Capital Investors, London-based investment firm Equitix and infrastructure-services firm Balfour Beatty have been named the preferred bidder for Greater Gabbard Offshore Transmission Owners (OFTO) by UK electricity...
Malaysia's top banks target RHB
Weeks after Carlyle and TPG reportedly teamed to bid for a 25% stake in Malaysian lender RHB Capital, top Malay banks Maybank and CIMB are each looking to make an acquisition bid for the asset, potentially creating the largest banking institution in Southeast...
Top PE firms target Asia at the expense of North America – study
The top 10 private equity firms globally have increased their focus on Asia over the past three years at the expense of North American investment, according to research by Preqin. These firms account for 18.6%, or $425.7 billion, or the $2.3 trillion...
CICC set to make RMB1.5b first close on new fund
China International Capital Corporation (CICC), the country’s largest investment bank, is set to announce the RMB1.5 billion ($231.5 million) first close of its new renminbi-denominated fund this week, a source close to the process confirmed to AVCJ....
CITIC sees role for USD funds in bringing foreign firms to China
Multinational companies looking to expand and raise funds in China will increasingly turn to domestic private equity firms for assistance, according to Wu Yibing, president of CITIC Private Equity Funds Management Co.
Chinese short seller target gets backing from Morgan Stanley
Morgan Stanley will invest $50 million in Yongye International, a US-listed Chinese plant nutrients producer that has been accused of fraud by a short seller. The investment bank’s Asia private equity unit has agreed to buy preferred shares in Yongye,...
TPG, Warburg Pincus consider $100m investment in Vasan
TPG and Warburg Pincus are in talks with India’s Vasan Healthcare over a potential $100 million investment that would be structured as a combination of primary and secondary transactions, the Business Standard reported. A spokesperson for Vasan Group...
AIC launches secondaries fund from Japan
Alternative Investment Capital Limited (AIC) has teamed with the Development Bank of Japan (DBJ) to launch the $150 million AIC Asia Opportunity Fund, L.P. The fund will target secondary investment opportunities in select Asian markets.
India's economic growth slows to 7.8%
India’s GDP growth has slowed for the fifth-consecutive quarter to 7.8%, missing its 8.2% target, due to factors including high interest rates and a dip in manufacturing. Economic growth came to 8.3% in the previous quarter.
Invest AD to seal first Turkey deal within four months
State-owned Abu Dhabi investment vehicle Invest AD is looking to buy Turkish companies focused on pharmaceuticals, food, consumer goods and industrial manufacturing. Samir Assaad, head of the company’s private equity unit, told Bloomberg that the first...
IFC prepares loan for Axis-backed infrastructure firm
An Indian infrastructure firm backed by Axis Private Equity is poised to secure a INR22.58 crore ($5 million) loan from the International Finance Corporation, the World Bank’s investment arm, according to Financial Chronicle.
Carlyle, Suntory tipped to buy stake in GarudaFood
Carlyle Group, in partnership with Japanese brewer Suntory, is closing in on a 30% stake in Indonesia’s GarudaFood thought to be worth over $200 million, Reuters reported.
Lee Hsien Loong takes over Lee Kuan Yew as GIC Chairman
Singaporean Prime Minister Lee Hsien Loong has been named chairman of top sovereign wealth fund the Government of Singapore Investment Corp. (GIC), taking over the role held by his father Lee Kuan Yew.
Mitsubishi Corp. to launch PE fund of funds - report
Mitsubishi Corp., one of Japan’s top general trading companies, is set to launch a $200 million private equity fund of funds with capital additionally pledged from the Development Bank of Japan and Sumitomo Mitsui Banking Corp., the Nikkei reported.
CVC-backed Samsonite aims for $1.51b raise
Samsonite, the luggage manufacturer majority-owned by CVC, has set a $1.51 billion target for its impending IPO in Hong Kong, slated to launch on June 16.
Distressed bookseller REDgroup Retail urgently seeks buyer
Pacific Equity Partners’ REDgroup Retail, the owner bookstore chains Borders and Angus & Robertson now under administration, is “urgently” looking for a buyer in order to continue operations.
Former Fortress boss prepares new hedge fund
Stanley Ku, former Hong Kong head of Fortress Investment Group, is setting up a new hedge fund following the closure of Minerva Capital Management last year. Complus Asset Management, which received an asset management license in Hong Kong last week,...
Franklin Templeton PE fund invests in India's SFO Technologies
Franklin Templeton Private Equity Strategy (FTPES) has invested IND67.5 crore ($14.9 million) in SFO Technologies, a leading Indian electronics manufacturer. FTPES is one of three private equity investors that have committed a combined IND166.5 crore...