Mekong Capital Exits Asia Chemicals Corporation for US$8.9 Million (Asia)

Vietnam-focused private equity fund manager Mekong Capital has fully exited Vietnam-based Asia Chemicals Corporation (ACC) for US$8.9 million. ACC distributes specialty ingredients, chemicals, non-oil related commodities and other materials to companies in Vietnam. Mekong, which originally invested US$3.8 million in ACC in 2011 through Mekong Enterprise Fund II, generated a… Read More

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… 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… 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… 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… 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… 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… Read More

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