Asia Private Equity Weekly News, June 3, 2014

June 3 Mon Jun 2, 2014 10:41pm EDT

June 3 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending May 30.

MAY 30

SEQUOIA CAPITAL, best known for its early-stage investments in companies such as Google Inc, has raised $530 million for its fourth India-focused fund, the U.S. venture capital fund said in a statement.

U.S. PRIVATE equity firm Bain Capital said it bought Australian fast food company Retail Zoo, owner of Boost Juice Bars, in a deal a source said was worth about A$185 million ($171.8 million).

MAY 29

YUNFENG CAPITAL, a private equity firm founded by Alibaba Group Holding Ltd's IPO-ALIB.N Jack Ma, has closed a new investment fund after raising $1.1 billion, a person with direct knowledge of the matter told Reuters.

DUTCH PENSION fund APG Asset Management will spend up to $650 million to buy 20 percent of Chinese warehouse firm e-Shang and establish a joint venture, aiming to capitalise on strong demand for storage amid an online shopping boom in China.

UK PRIVATE equity firm 3i Group Plc said it has sold precision engineering firm Hilite International for 473 million euros ($643.6 million) to AVIC Electromechanical Systems Co, a unit of Aviation Industry Corp of China.

THE A$500 million ($461 million) IPO of Australia's No. 2 hotel operator, Mantra Group, will proceed after investors who rebuffed it two months ago changed their minds in light of strong performances from other floats, a source close to the deal said.

BAIN'S PLAN to refinance 74.1 billion yen ($725.2 million) for struggling audio equipment retailer D&M Holdings Inc has fallen apart, as the company's lead banks have exited the deal through secondary market trades, Basis Point reported citing banking sources.

MAY 28

BAIN'S JAPANESE restaurant chain Skylark Co Ltd is seeking amendments to a 178.2 billion yen loan ahead of its planned IPO, Basis Point said citing sources.

MAY 27

KKR & CO LP plans to buy Singapore's Goodpack Ltd , the world's largest maker of intermediate bulk containers, in a deal that values the company at S$1.39 billion ($1.11 billion), the two companies said.

TAIWAN'S BIGGEST pension fund said it is aiming to boost investments in alternatives products and domestic equities to help maintain its performance lead over the California Public Employees' Retirement System.

JOYFUL HORIZON, a unit of China private equity firm Hony Capital, sold 600 million shares in CSPC Pharmaceutical Group to raise HK$3.75 billion ($483.6 million), IFR reported. Joyful Horizon also sold 105.88 million shares to True Ally, a holding company controlled by CSPC Pharma Chairman Cai Dongchen, at the same price, the report said.

AUSTRALIAN PRIVATE equity firm Ironbridge plans to sell the country's No. 2 fertility company in a float worth up to A$300 million ($277.5 million), a source involved in the deal said.

MAY 26

AUSTRALIAN PRIVATE equity firm Pacific Equity Partners offered up to A$1.1 billion to take standards compliance business SAI Global Ltd private, the latest in a flurry of deal activity in the country sparked by surging stock prices.

A NEW Japanese investment fund is set to join a small but growing band of "friendly" activists, shunning hostile tactics that have previously failed to generate change and instead working with management to improve shareholder returns.

MIDDLE EAST private equity firm Abraaj Group has bought into an education provider in Thailand, betting on a country that last week saw the imposition of military rule after months of wrangling between government and anti-government activists.

MAY 25

ISRAELI INVESTMENT group Mivtach Shamir Holdings is in talks with China's Bright Food Group Co on cooperating in the future as co-owners of Tnuva, Israel's biggest food company.

($1 = 7.7538 Hong Kong Dollars)($1 = 0.7349 Euros)($1 = 102.1750 Japanese Yen) (Compiled by Stephen Aldred in Hong Kong; Editing by Prateek Chatterjee)

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