TPG Capital Asia has agreed to acquire Poonawalla Housing Finance for a pre-money equity valuation of INR 39bn (USD 473m) and inject an additional INR 10bn to support growth.
Even though debt is more readily available in Asia than in the US or Europe, financing costs are up, and buyout investors are reluctant to move for assets in an uncertain and overvalued market
India’s domestic growth story appears unobstructed, but some international investors could hold their fire. The local PE industry will not graduate to the next level without that foreign capital
Market pressures on Australian businesses, including an increasingly serious labour shortage, are a challenge and opportunity for domestic private equity. So is China, but in less discernible ways
Confidence in Japan’s middle market is whipping up new deal flow, new funds, and new exit channels that will play out in 2023. This includes the possible reanimation of a dormant IPO market
David Gross-Loh, a managing director and a founding member of the Asia business at Bain Capital, on expanding into Osaka, targeting large-cap carve-outs in Japan, and the availability of deal financing
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
Australia-based specialist B2B technology investor Potentia Capital appears to be continuing its pursuit of two listed companies – Nitro Software and Tyro Payments – despite several rejections.
Hillhouse Capital has agreed to buy George Clinical, an Australia-based clinical research organisation (CRO) with a global footprint, for an undisclosed sum.
The Carlyle Group has exited its 100% stake in Japanese snack maker Oyatsu Company for an undisclosed sum to D Capital after a more than eight-year hold.
KKR has completed its tender offer for Hitachi Transport Systems, having secured a 51.1% stake in the third-party logistics (3PL) provider at a valuation of JPY 749.5bn (USD 5.4bn).
Asian private equity has moved on from chasing momentum plays, with GPs increasingly pursuing opportunities where they have domain expertise and know they can add value, the AVCJ Private Equity & Venture Forum heard.
Targeting PRP Diagnostic Imaging through its long-hold fund meant IFM Investors could offer the company stability and partnership. It expects to generate dividend yield and capital growth
Replacing portfolio company CEOs is not part of buyout firms’ value creation playbook in emerging markets, the AVCJ Private Equity & Venture Forum heard.
Affinity Equity Partners has sold Hong Kong-headquartered garment label manufacturer Trimco Group to Brookfield Asset Management, for an enterprise value of USD 850m.
Bain Capital has agreed to acquire a majority stake in Mash Group, a Japan-based fashion label, for an undisclosed sum.
The Blackstone Group has agreed to acquire a majority stake in India-based IT services provider R Systems International at a valuation of INR 29.04bn (USD 359m) and moved to delist the company.
Investors told the AVCJ Private Equity & Venture Forum that they are looking to accelerate their pace of investment in China next year despite economic and regulatory challenges.
Large-cap buyout investors told the AVCJ Private Equity & Venture Forum they are hesitating to underwrite higher returns as debt terms tighten in cloudier market conditions.
James Coulter, executive chairman and founding partner of TPG, told the AVCJ Private Equity & Venture Forum that the current “great reset” represents one of the most interesting periods in his career, although he advised investors to look beyond immediate...
Baring Private Equity Asia – now BPEA EQT – retained the large-cap firm of the year prize at the 2022 AVCJ Private Equity & Venture Capital Awards as it, Pacific Equity Partners (PEP), and The Blackstone Group claimed two victories apiece.
Korean carve-out specialist Glenwood Private Equity has agreed to acquire a significant minority stake in the advanced materials unit of Hanwha Solutions, a listed subsidiary of Hanwha Group, for an enterprise valuation of KRW 680bn (USD 514.2m).
Seven & i Holdings, a Japanese retail conglomerate best known as the parent company of 7-Eleven, has agreed to sell department store operator Sogo & Seibu to Fortress Investment Group.
BPEA EQT – formerly Baring Private Equity Asia – and Regal Partners have increased their offer for Australia-based asset manager Perpetual only for the target company’s board to reject them once again.