Private equity firms Hony Capital and CITIC Private Equity, along with venture capital firm Sequoia Capital, have agreed to exit China-listed online and TV shopping company Happigo Home Shopping via share sales on the Shenzhen Stock Exchange. Hony, CITIC and Sequoia will sell stakes of approximately 19 percent, nine percent… Read More
India-focused private equity firm Gaja Capital has reached a final close for its latest fund, Gaja II, with US$240 million in capital commitments. Investors in the fund included development finance institution International Finance Corporation. Gaja plans to make eight to ten investments of US$5 million to US$40 million apiece from… Read More
Standard Chartered Bank’s private equity arm Standard Chartered Private Equity (SCPE) and investment bank Goldman Sachs have invested US$28 million in M_Service, a Vietnam-based company that operates mobile e-wallet app MoMo. SCPE contributed US$25 million to the round, while Goldman Sachs—an existing shareholder in the company—contributed US$3 million. MoMo provides… Read More
Private equity firms Glenwood Private Equity and Baring Private Equity Asia have agreed to acquire South Korea-based cement company Lafarge Halla Cement for an enterprise value of KRW560 billion (approximately US$469 million). Global cement company LafargeHolcim is selling the company as part of a broader global divestment program. The transaction… Read More
Global private equity firm Bain Capital has acquired more than a 90 percent stake in China-based hospital operator Asia Pacific Medical Group (APMG) for US$150 million. The transaction, which was structured through Bain Capital Asia Fund II and Bain Capital Asia Fund III, facilitated an exit for two existing investors:… Read More
India-focused private equity firm InvAscent has invested INR500 million (approximately US$7.4 million) in India-based medical device manufacturer Biorad Medisys. The transaction was structured through India Life Sciences Fund II. Biorad Medisys, which makes orthopedic implants for knee and hip replacements and disposable surgical devices used in radiology procedures, will use… Read More
Direct secondaries fund manager NewQuest Capital Partners has reached a first close for its third fund, NewQuest Asia Fund III, with more than US$500 million in capital commitments. The fund, which has a hard cap of US$520 million, has already exceeded its initial target. NewQuest Asia Fund III will focus… Read More
Thailand-focused private equity firm Lakeshore Capital Partners has invested in Thailand-based digital marketing company ReadyPlanet. The transaction was structured through Lakeshore Capital Fund I. ReadyPlanet intends to use the new capital to support its move from the enterprise market to the retail market. Financial details of the transaction were not… Read More
China-focused private equity fund manager Hony Capital has led a CNY500 million (approximately US$77 million) Series B financing round for China-based boutique entertainment studio Linmon Pictures. Investment holding company Tencent Holding and philanthropic organization Mango V Foundation also participated in the round. Linmon Pictures plans to use the new capital… Read More
India-focused private equity firm Paragon Partners has reached a first close for its maiden fund, Paragon Partners Growth Fund I, with US$50 million in capital commitments. Investors included India-based financial services companies IIFL and Edelweiss Group; India-based investment company Infina Finance; and Canada-based financial holding company Fairfax Financial. The fund… Read More
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