Official Record

Actis in Chinese casual dining MBO

Networks count, and nowhere more so than in China. This was especially evident during Actis’ investment in Shanghai-based casual dining chain Bellagio, announced last week.

CHAMP makes first Southeast Asia forays

CHAMP Private Equity’s engagement with the wider Asian market began 15 years ago, before Australian Mezzanine Partners partnered with US-based Castle Harland to create the PE firm as it exists today.

IDFC PE seals India’s largest dairy investment

India's dairy sector is rich in opportunity. Currently worth $70 billion, it is growing at 10% a year and is expected to reach $150 billion by 2020. The country is now the world’s largest producer of dairy goods and accounts for close to 20% of global...

TA targets remote communication networks

Communications is clearly a favored sector for TA Associates in Asia. Earlier this week, the US-based private equity player completed the buyout of SpeedCast, a Hong Kong-based network and satellite communications service provider. Of the eight investments...

Alibaba in bumper Yahoo buyback

New and existing private equity investors acquire much-sought-after stakes in Alibaba Group as the e-commerce firm repurchases part of Yahoo’s stake in a $7.6 billion deal

NBC Capital reaps 20% IRR from Fenix Fitness

When it comes to assisting the growth of their portfolio companies, some PE firms are more hands-on than others. At the more pro-active end of the scale sit the likes of NBC Capital, which during its four-and-a-half-year ownership of local health club...

MGPA reaches first close on real estate fund

The latest fund being raised by MGPA marks a departure from the investment firm’s previous real estate vehicles. MGPA Asien Spezialfonds, which announced a first close on EUR85 million ($111 million) last week, represents the firm’s first so-called...

State banks launch Sino-French fund

The role of Chinese PE firms in outbound investment is poorly defined: In the absence of clear guidelines, participants must win approval from every single regulator. One way to avoid the red tape is by partnering with a government-backed entity, which...

Century Bridge in China fund debut

Raising a China-focused first-time fund is rarely easy, a Century Bridge can attest. Tom Delatour, CEO of the real estate private equity firm, came to China in 2006, assembled a team of investment professionals, and launched a fund in spring 2010. The...

GGV raises $625m for Sino-US fund IV

Following its survey of the terms and conditions employed by China-focused venture capital funds, law firm Cooley revealed that more or less every early and mid-stage VC fund it had seen charged a management fee of 2.5%.

Clove sees 20x return on Philippines oil deal

The Philippines has long been perceived as a black hole for private equity. Clove Capital, which spun out from EMP Daiwa Capital Asia, begs to differ and now it has evidence to support its case: a 20x return on an investment in Philippines oil exploration...

Navis profits from Pearson’s expansion drive

Pearson's M&A activity follows a familiar emerging markets theme. In May the education and publishing company bought GlobalEnglish, a cloud-based English-language learning specialist with 75% of its subscribers in Asia and Latin America.

Bain in bumper $1b deal for India’s Genpact

Indian business process outsourcing (BPO) firms, once a prime target for private equity investment several years ago, have inevitably become a hive of exit activity. The Blackstone Group last year sold its 66.25% stake in Intelenet Global Services to...

Capsquare eyes early-stage Indonesia

There's little doubt that Indonesia is the flavor of the month in private equity circles at present, but questions remain over deal access. Information on private companies is sparse, local relationships rule, entrepreneurs are wary of selling equity...

Philippines launches first infra fund

The decision to become the first-ever Philippines-dedicated infrastructure fund can’t have been easy one. As with any vehicle, a number of criteria needed to be in place to ensure the success of the Philippine Investment Alliance for Infrastructure...

TPG in rare China leveraged buyout

TPG Capital's full acquisition of packaging firm HCP Holdings, worth approximately $500 million, has a strong claim to be the largest ever leveraged buyout of a Chinese company. This is notoriously difficult territory for dealmakers and PE statisticians...

CVC, SCPE generate quick return on Infastech

A swift trade sale exit was always likely for Asia-based fastener manufacturer Infastech. Not long after CVC Capital Partners and Standard Chartered Private Equity (SCPE) acquired the asset in 2010, strategic investors started showing an interest.

Clearwater gets $575m for fund IV

Profit warnings issued by Chinese companies in recent weeks suggest that the corporate sector is feeling the effects of slowing economic growth. Industrial profit was down 2.2% in the first half of 2012, compared to a 28.7% gain in the corresponding period...

LPs endorse Kerogen’s Asia energy strategy

Barely 48 hours before Kerogen Capital announced a final close of just over $1 billion for its debut fund, the PE firm received two endorsements of its investment thesis. First, CNOOC agreed to buy Canadian oil and gas major Nexen for $15.1 billion plus...

Creador takes proprietary route to MNC IPO

One of the biggest criticisms leveled at private equity firms that anchor IPOs is that LPs expect them to do proprietary investments. When Saban Capital and Creador Capital performed the anchor role for MNC Skyvision’s $228 million offering earlier...

A Capital bets on B&O’s China growth story

Just three months ago, 87-year-old Danish electronics manufacturer Bang & Olufsen (B&O) announced worse-than-expected third quarter results: revenue was down 7% year-on-year while pre-tax profit fell by 37%. The company blamed poor sales in Europe and...