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… Read More
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… Read More
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
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… Read More
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… Read More
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… Read More
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… Read More
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… Read More
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… Read More
China-based discount e-commerce startup Pinduoduo has raised US$1.63 billion via its initial public offering (IPO) on Nasdaq. The company sold 85.6 million American Depository Shares for US$19.00 per share, valuing the company at US$33 billion. Pinduoduo is backed by China-based technology conglomerate Tencent Holdings and venture capital fund managers Sequoia… Read More
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