Official Record
Everstone bets on India's logistics space
The fact that Dehli-based Transpole is regarded one of India's largest shipping logistics firms yet still accounts for around 3% of its market speaks volumes for the level of fragmentation in the sector. Everstone Capital is betting on Transpole's potential...
Lightspeed nets $168m for China fund
Lightspeed Venture Partners' China fund has been more than seven years in the making, having been under consideration ever since the GP included an international allocation – Asia and Israel, in addition to the US – in its seventh global vehicle....
Hahn & Co. in $130m bankruptcy buyout
Sourcing deals through South Korea's bankruptcy courts is notoriously complicated, but even by these standards Korea Line presented a challenge. The sale process was officially launched late afternoon on December 21, the Friday before what most people...
CVC agrees Philippines' BPO carve-out
The Philippines has supplanted India in recent years to become the call center capital of the world as its business process outsourcing (BPO) sector recorded massive growth. Revenues are expected to more than double in the next five years, reaching $25...
Secondaries in vogue in Korea
Among South Korean LPs there such a thing as the flavor of the month. We have seen global buyout and credit phases over the years, during which international private equity and credit houses mopped up more allocations than ever before. The last 12 months,...
Australia's IFM enters UK airspace
An investor in Australian airports for 15 years, Industry Funds Management (IFM) - which is owned by 30 domestic superannuation funds - has made its first foray into the global market with the acquisition of a 35.5% stake in Manchester Airports Group...
MGPA pays $111m for Perth office building
Four months since reaching a first close of EUR85 million ($111 million), MGPA Asien Spezialfonds - an Asia-focused real estate fund structured to target German investors - has committed close to exactly that amount for its maiden investment in Australia.
Creador closes Fund I, eyes Fund II
With his first fund days away from a final close, Creador CEO Brahmal Vasudevan is already thinking about a successor vehicle. This is because Creador I, which focuses on India, Malaysia and Indonesia, is on course to be more than two-thirds deployed...
CapAsia taps Japanese for infra fund
As Japanese companies struggle in shrinking domestic market, government agencies and financial institutions have joined forces to promote local expertise overseas. For Capital Advisors Partners Asia (CapAsia), the country has become an attractive LP market.
J-Star completes clothing brand turnaround
Three and-a-half years ago, Olive des Olive, a hip teen clothing-brand based out of Tokyo, was suffering. Having filed for bankruptcy, its reputation frayed by allegations that its clothing came from a factory in China and had been re-labeled “Made...
Advantage sees 7x return on coffee chain deal
When Advantage Partenrs paid JPY15 billion ($146 million) for a 78% stake in Komeda Coffee in 2008, the chain was to a certain extent a victim of its own success. After more than 40 years of expansion the company had grown to around 300 stores and its...
KKR shows its conviction in Masan
KKR has doubled down on the Vietnam consumer story. Following a $159 million commitment to Masan Consumer Corp. (Masan) in April 2011, the largest investment in the country from a private equity fund, KKR broke its own record last week by injecting a...
Carlyle exits China Pacific with $4b profit
As a private equity investment, China Pacific Insurance stood out from the beginning. When The Carlyle Group paid approximately $400 million for a 24.98% stake in the firm’s life insurance subsidiary in 2005, it was comfortably the largest PE deal in...
Carlyle sees return on capsule innovation
Gelatin has been used to produce two-piece drug capsules for nearly 100 years, largely thanks to its ability to dissolve easily and be manufactured to a uniform thickness. The problem is that the manufacturing technique has never been all that kosher,...
Navis, Rabo see 1.9x return on Thai duck deal
Navis Capital Partners' exit from Thailand-based duck processor Bangkok Ranch marks the end of a 13-year holding period – among the longest in the firm’s portfolio.
India Awards: Legal Advisor of the Year – AZB & Partners
AZB & Partners saw PE deal flow slip in 2012 Hardeep Sachdeva, a partner with the firm, blames foreign investment policy concerns that he hopes India can now consign to the past.
India Awards: PE Deal of the Year – CARE Hospitals
Advent International spent four years scouting India’s healthcare market before settling on CARE Hospitals, and the transaction itself was complex. Now operating partners are on the ground supporting expansion.
India Awards: Exit of the Year – Genpact
Genpact has a strong claim as the pioneer of business process outsourcing (BPO) in India, an industry that employs 700,000 people is now worth nearly $11 billion. According to a report by Nasscom and Everest Group, India accounts for more than 35% of...
India Awards: VC Deal of the Year – Flipkart
In India's fiercely competitive e-commerce market, the mantra is eat or be eaten. Flipkart, through a combination of new funding and lateral acquisitions, has placed itself firmly in the former camp.
Unitas buys controlling stake in ZTE subsidiary
When ZTE decided to divest Shenzhen ZTE Netview Technology (ZNV), a subsidiary focused on power and environment monitoring and video surveillance, it wanted to act quickly. Unitas Capital was up to the task, overcoming rival bids from several financial...
Actis exits Xiabu Xiabu in secondary sale
In the past 12 months we have seen a 10-fold increase in secondary sales in China by value, but it is unwise to read too much into the spike: 80% of the $2.9 billion total came from Goldman Sachs selling its minority interest in Industrial and Commercial...
To pastures new: Asia PE people moves
A selection of the transfers, promotions, arrivals and departures in Asia's private equity community in 2012
Headland offers toymaker succession solution
Big eyed and rosy cheeked, Kong Suni the potty-training baby doll is the must-have toy in South Korea this year. Her ability to eat, fill her diaper and pass wind has attracted headlines both home and abroad. The doll is a creation of South Korean firm...
Primus co-founder in aircraft leasing club deal
During a week in which it emerged that Primus Financial Holdings was no more, two of its co-founders reemerged in new guises. First, Dexia announced that it was in exclusive negotiations with GCS Capital, a financial services-focused PE firm run by GuocangHuan,...