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Warburg Pincus and Kedaara Capital Partially Exit AU Small Finance Bank (Asia)
Private equity fund managers Warburg Pincus and Kedaara Capital have partially exited India-listed AU Small Finance Bank. Warburg sold an 8.3 percent stake for INR15.3 billion (approximately US$223 million), reportedly generating a 15x multiple, while Kedaara sold a 1 percent stake for INR1.8 billion (approximately US$27 million), reportedly generating a 7x multiple. Warburg and Kedaara originally invested in AU Small… Read More
Klook Raises US$200 Million Series D Round from Sequoia, Matrix and Others (Asia)
China-based travel booking platform Klook Travel Technology has raised a US$200 million Series D funding round from fund managers including Sequoia Capital, Matrix Partners and Boyu Capital and global investment bank Goldman Sachs. An undisclosed Asian sovereign wealth fund, technology investor TCV, crowdfunding platform OurCrowd and undisclosed family offices also participated in the round. Klook plans to use the new… Read More
Advent to Exit WSiP to Central Group (CEE and CIS)
Global private equity fund manager Advent International has agreed to sell Poland-based educational services provider Wydawnictwa Szkolne i Pedagogiczne (WSiP) to Hungary-based diversified investment holding company Central Group. WSiP provides various educational solutions and services to students and teachers, including self-learning and digital products, textbook publishing and tutoring. Advent originally invested in WSiP in February 2010. The transaction is subject… Read More
Yunfeng Fund III Reaches US$2.5 Billion Final Close (Asia)
China-focused private equity fund manager Yunfeng Capital has reached a final close for Yunfeng Fund III with US$2.5 billion in capital commitments. Fifty-one investors committed to the fund, including China-based retailer Suning. The fund will invest in China-based TMT, health care, consumer goods and business services companies. Read More
MBK Partners and TPG to Exit WTT to HKBN for US$1.3 Billion (Asia)
Private equity fund managers MBK Partners and TPG have agreed to exit China-based fixed telecommunication services operator Wharf T&T (WTT) to Hong Kong-listed broadband services provider HKBN for an enterprise value of HKD10.5 billion (approximately US$1.3 billion). MBK and TPG will each receive shares in HKBN worth HKD1.8 billion (approximately US$226 million), representing a 10.34 percent stake, as well as… Read More
BPEA Real Estate Fund II Reaches US$1 Billion Final Close (Asia)
Asia-focused alternative asset manager Baring Private Equity Asia (BPEA) has reached a final close for its second real estate fund with US$1 billion in capital commitments. Investors in the fund include U.S.-based pension funds, such as Texas County & District Retirement System, Employees Retirement System of Texas and State of Maine Public Employees Retirement System, endowments, foundations and insurance companies.… Read More
Investcorp Exits Gulf Cryo (MENA)
MENA-focused alternative investment manager Investcorp has sold its remaining 15.65 percent stake in Kuwait-based Gulf Cryo to other shareholders of the company. Gulf Cryo manufactures and distributes industrial, medical and specialty gases to companies in MENA and Turkey. Investcorp originally invested in Gulf Cryo through Gulf Opportunity Fund 1 in 2009. Read More
Credicorp Capital Raises More Than US$100 Million for Fondo Renta Residencial II (Latin America)
South America-focused asset management firm Credicorp Capital, in partnership with real estate developer Greystar Real Estate Partners, has raised more than US$100 million for its Chile-focused real estate fund, Fondo Renta Residencial II. Investors in the fund include family offices and insurance companies. The fund will invest in five to seven residential projects managed by Greystar in Santiago’s eastern neighborhoods. Read More
IIFL Reaches US$58 Million First Close for IIFL India Private Equity Fund (Asia)
India-focused asset manager IIFL Wealth Management has reached a first close for IIFL India Private Equity Fund with INR4 billion (approximately US$58 million) in capital commitments. The fund, which is reportedly seeking INR15 billion (approximately US$218 million) in total commitments, will invest in consumer, financial services, technology and health care companies in India. Read More
TPG to Acquire Healthscope’s Asia Operations for US$206 Million (Asia)
Global alternative asset manager TPG has agreed to acquire the Asia pathology operations of Australia-based health care provider Healthscope for AUD279 million (approximately US$206 million). TPG will carve out 39 pathology laboratories in Singapore, Malaysia and Vietnam operating under the Gribbles Pathology and Quest Laboratories brands. The transaction is expected to be completed by the end of August 2018. Read More
Gaja Capital Invests US$25 Million in Educational Initiatives (Asia)
India-focused mid-market private equity fund manager Gaja Capital has invested US$25 million for a significant minority stake in Educational Initiatives, an India-based developer of interactive education and student assessment tools. The company, which has worked with more than 3,000 schools and maintains a presence in five countries, plans to use the funds to enter new markets and expand its technology… Read More
CITIC Capital, FountainVest and Carlyle Exit Focus Media to Alibaba Group (Asia)
China-focused private equity fund managers CITIC Capital Partners and FountainVest Partners and global alternative asset manager The Carlyle Group have reportedly exited China-based digital media network operator Focus Media. The consortium, which took the company private in 2013 and re-listed it on the Shenzhen Stock Exchange via a reverse merger in 2015, sold its combined stake to China-based technology and… Read More