Official Record
KKR raises $1 billion for China
US-based private equity major Kohlberg Kravis Roberts (KKR) has reportedly raised $1 billion for its China Growth Fund. The firm launched the fund last year with a target of $800 million and a hard cap of $1 billion.
Advent ups investment in IPG
Advent Private Capital, a Melbourne-based mid market private equity group, has increased its original investment in Integrated Packaging Group (IPG), a packing specialty company in Australia, to $50 million. Advent already had a controlling stake, but...
KKR-backed Seven Media bought for $4.2b
KKR-backed Australian media major Seven Media Group has been bought by West Australian Newspapers Holdings (WAN) for A$4.1 billion ($4.2 billion) in cash, shares and an assumption of debt. The deal sees the return of double-digit valuations, this one...
SCPEL buys into Australian agribusiness
Standard Chartered Private Equity Limited (SCPEL) will take a minority stake via convertible notes in Australia-based international agribusiness leader Wellard for $83 million. The exact stake size was not disclosed, but the private equity firm will be...
Sumir Chadha talks about new venture, Westbridge
After five years with Sequoia Capital, Sumir Chadha and longtime partners K.P. Balaraj, S.K. Jain and Sandeep Singhal are leaving the Indian operations of the Silicon Valley firm. The group will take their original name Westbridge, which they founded...
Kaizen a rising star in Indian PE
One year after AVCJ predicted that education-opportunities group Kaizen Management Advisors “seems poised to lead investment in this sector in India,” the firm has made strides to keep its title, enlisting the likes of India’s Housing Development...
MBK exits Gala TV to EQT
EQT Greater China has acquired MBK Partners-backed Taiwanese cable television company Gala TV in the latest big-name media deal out of the country. The buyout firm did not disclose the deal price, but affirmed that the capital came from its $535 million...
Chinese food groups are outdoing PE in industry M&A
Formidable Chinese corporations have garnered attention for their rising status and robust earning potential, but major players have largely been slow to acquire global brands, much less act as rivals to global PE firms in target acquisitions. That may...
Advantage exits Pokka in trade sale
In a week marked by trade sales in the food and beverage industry, Tokyo-based Advantage Partners has announced it will exit its entire 40% stake in Pokka Co., a Japanese coffee and soft drink maker to Sapporo Holdings, the local brewery major which already...
Unison leads MBO of Japanese wine importer
Japanese buyout firm Unison Capital will spend JPY6.2 billion ($75.4 million) to privatize publicly listed Japanese wine importer and retailer Enoteca Co. through an MBO alongside H.C.B.C. Enterprises Ltd., an investment firm headed by George Joseph...
First Reserve opens in Asia with MD Paton
Energy-focused First Reserve Corp. has launched in Asia via an office in Hong Kong, the latest global firm to be drawn to the region in search of investment prospects.
Unitas and OTPP wave good-bye to stake in Yellow Pages
LESS THAN FOUR YEARS AFTER UNITAS Capital and the Ontario Teachers Pension Plan (OTPP) completed New Zealand’s largest leveraged buyout – paying a whopping NZ$2.1 billion ($1.57 billion) for the country’s Yellow Pages franchise – the private equity...
Carlyle buys AlpInvest, becomes LP
ALPINVEST, THE NETHERLANDS-BASED fund-of-funds, has been acquired by the Carlyle Group, which simultaneously makes its foray onto the LP side of the private equity industry.
Mount Kellet invests in mine with a history
PRIVATE EQUITY FIRM MOUNT KELLETT Capital Management has injected $100 million in a unit of Vietnamese consumer-product and financial services holder Masan Group.
CIC’s new office raises questions about sovereign interests
With the announcement that the China Investment Corporation (CIC) is opening a representative office in Toronto, Canada, the implications of the move are already being bantered about by analysts, industry onlookers and government officials. Some see the...
EQT buys fine foods group
EQT Greater China II has taken a controlling 96% stake in Classic Fine Foods Group (CFF), a multinational importer and distributor of gourmet foods, from London-based Vestey Group Ltd. The remaining 4% stake is held by the management. Financial details...
Dragon Capital clean energy PIPE in Laos
Laos’ position as an investment destination has been improved this week as state-backed Electricite du Laos Generation (EdL Gen) received its second private equity investment in so many weeks, with Dragon Capital purchasing $3.36 million worth of shares...
Temasek sells out of Thai hospital; on the sly?
This week, a letter to the Stock Exchange of Thailand revealed that a 12.6% stake in Bumrungrad Hospital had been sold mid-January by several investors, one of which included Singaporean sovereign wealth fund, Temasek Holdings. Interestingly, the letter...
Coller Barometer: confidence in PE is at pre-crisis levels
The recent edition of the Global Private Equity Barometer, released by Coller Capital, revealed that LPs’ total exposure to fund-of-funds will fall over the next three years, in part due to fees and in part due to disappointing returns. At the same...
Prudential and Fosun form China PE fund
China's largest privately owned investment conglomerate, the Fosun Group, has teamed up with American insurance behemoth Prudential Financial Inc. (PFI) to launch a $600 million private equity fund of which Fosun will act as general partner. The aim,...
Valiant exits Japanese drug dispensary group
Valiant Partners Co., a SME-focused private equity firm, has exited its stake in portfolio company Hanshin Dispensing Pharmacy Co., a Kobe-based pharmacy chain operator. The fund sold its entire stake to a holding company owned by the Iwasaki family,...
Tata terminates Olympus Capital deal
Tata Power, one of India's leading and most influential energy firms, has terminated its $300 million investment deal with Olympus Capital just six months after the parties – energized by the prospect of the high-stakes deal – brokered the transaction.
Frontier markets investments showcase growth and opportunity
Recent activity out of Cambodia showcases the opportunities in frontier markets, in spite of the risks and uncertainties that these countries also present. In January, Leopard Capital, through its Leopard Cambodia Fund, took a 33.7% stake in Intean Poalroath...
The way we were
AVCJ looks back at 2010, following the trends, deals and headline-grabbing quotes that have led to the collective euphoria that now precedes 2011