Asia Private Equity Weekly News, June 16, 2014

June 16 Sun Jun 15, 2014 8:37pm EDT

June 16 (Reuters) - News and developments in Asia private equity from Reuters News for the week ended June 13.

JUNE 13

A TPG Capital Management-led consortium has agreed to buy the property arm of Australian engineering services firm UGL Ltd for A$1.215 billion ($1.14 billion), a source told Reuters.

GLOBAL PRIVATE equity firm Bain Capital Partners LLC is suing EY in a United States court, claiming that the auditing firm cost it roughly $60 million by advising it to invest in Lilliput Kidswear, a children's clothing company in India.

JUNE 12

IN INDIA'S IT services outsourcing sector, local start-ups, often backed by U.S. venture capital funds, are nipping at the heels of industry heavyweights such as Tata Consultancy Services Ltd and Infosys Ltd.

BAIN WILL sell its equity stake worth up to $393 million in Hero MotoCorp Ltd, India's largest maker of motorcycles and scooters, according to a deal term sheet seen by Reuters.

PERMIRA, ONE of Europe's biggest private equity firms, has raised 5.3 billion euros ($7.22 billion) for its fifth buyout fund compared to a previous 9.6 billion euros it raised for a fund in 2006.

JUNE 11

SOUTH KOREA's National Pension Service (NPS) has hired a U.S.-based advisor to invest $400 million in Asian real estate, as the world's fourth-largest pension fund looks to increase its exposure to property in its home region.

INDONESIAN COAL miner PT Bumi Resources said on Wednesday its lenders had agreed to close a crucial debt-to-equity swap with Chinese sovereign wealth fund CIC , enabling it to pay the coupon on its 2016 bonds.

JUNE 10

FTS INTERNATIONAL, which is backed by Temasek Holdings and RRJ Capital, said it has signed a 15-year joint venture with China's Sinopec Group in a first-of-its-kind partnership that brings the U.S. company's expertise in hydraulic fracturing to China's vast shale formations.

HAMILTON LANE said it has hired Masayoshi Yazawa as a senior advisor responsible for leading business development efforts in Japan. Yazawa was most recently head of foreign securities sales at Itau Asia Securities. (link.reuters.com/jyd22w)

GST AUTOLEATHER, owned by Japanese private equity firm Advantage Partners, is marketing a $180 million refinancing credit led by RBC, Thomson Reuters LPC reported citing sources.

PINE RIVER Capital Management L.P. reported a 6.8 percent stake in Yongye International Inc as of June 5, 2014.

JUNE 9

WHEN JACK Ma and his colleagues sat down in 2001 to lay out Alibaba's defining values, they named them after a martial arts technique drawn from Ma's love of kung fu novels and their heroic themes.

($1 = 0.7345 Euros) (Compiled by Stephen Aldred in Hong Kong; Editing by Subhranshu Sahu)

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