Asia Private Equity Weekly News, November 12, 2012

HONG KONG, November 12 Sun Nov 11, 2012 7:13pm EST

HONG KONG, November 12 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending November 9.

NOVEMBER 9

PRIVATE EQUITY group Carlyle Group LP will sell part of its stake in Japanese restaurant chain operator Chimney Co in an initial public offering in December, its third attempt to list a Japanese asset this year.

NOVEMBER 8

KKR & CO L.P. and Australia's Allegro Funds have agreed to buy around A$350 million ($364 million) worth of distressed commercial loans from a unit of Lloyds Banking Group Plc, a source familiar with the matter said on Thursday.

PRIVATE EQUITY firm Permira has raised about $875 million from the sale of its remaining stake in casino operator Galaxy Entertainment Group Ltd, capping a highly profitable investment that nearly tripled the firm's money over the past five years.

NOVEMBER 7

INDIAN LUBRICANTS maker Gulf Oil Corp said it has acquired U.S.-based specialty chemicals company Houghton International from a private equity fund for $1.05 billion.

TPG CAPITAL, the private equity firm founded by David Bonderman and James Coulter, is looking to raise between $8 billion and $12 billion for its next global buyout fund, Thomson Reuters news site peHUB reported, citing placement agents.

NOVEMBER 6

CHINA'S HAIER Group was poised to take complete control of Fisher & Paykel Appliances Holdings Ltd after it acquired more than 90 percent of New Zealand's top white-goods maker, the companies said.

SHAREHOLDERS IN Malaysia's two main KFC fast food franchisees have overwhelmingly backed a $1.7 billion bid to take the business private, despite suggestions by some minority shareholders they would try to block the deal.

INVESTMENT AND fundraising by private equity firms in emerging economies fell in the first three quarters of 2012, industry body EMPEA said, reflecting the global growth slowdown.

NOVEMBER 5

ASIAN PRIVATE investment firm Squadron Capital Advisors's director for investments in Southeast Asia and India is exiting the firm, according to an email from the executive seen by Reuters, while the firm is in the midst of being bought by U.S.-based FLAG Capital Management.

AXA PRIVATE Equity, which in June raised an $8 billion fund largely to buy bank exposures to private equity, said it has opened its first China office, in Beijing headed by Jenhao Han, the head of the firm in Asia.

TURNAROUND SPECIALIST Alvarez & Marsal said it has relocated managing director Jacques Roizen, co-head of its revenue enhancement business, from New York to Hong Kong.

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