June 3 News and developments in Asia private
equity from Reuters News for the week ending 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
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
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
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.
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.
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.
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