Private equity deal-making and exit news dominated the most-read headlines in March.
Private equity giant Actis is said to be selling its majority stake in Indonesian education player SIS Group to a local buyer Adivira Capital, while Indonesia-listed Saratoga is likely to acquire Brawijaya Hospital from Falcon House. Meanwhile, in India, fund managers have found a reason to cheer with exits showing an uptick in recent times.
The March edition also brings you interviews and updates from prominent asset allocators such as Singlife, Oriza FoF, Bee Alternatives, and Cathay Life.
Our most-read exclusives also include earnings analysis of Singapore-based car marketplace and lender Carro; Singapore-based brand aggregator Una Brands; and Indonesian virtual multi-brand restaurant chain Dailybox Group.
If you missed these stories, check out our curated list of trending scoops and analytical takes from March 2024 (with an exclusive discount offer at the end).
Actis sells majority stake in Indonesian education player SIS Group to local PE firm
The buyer is Adivira Capital, an Indonesian firm focusing on mid-market private equity and private credit opportunities in Southeast Asia.
India: PE-VC firms get a breather as exit routes open up
Despite muted investor sentiments amid macro market headwinds, fund managers in India have found a reason to cheer with exits showing an uptick in recent times.
Indonesian fintech startup AwanTunai closes Series B round at $27.5m
Norfund, Japan’s MUFG Innovation Partners and Finnish impact fund OP FinnFund were the lead investors.
The LP View: Singlife’s investment arm charts private equity course for Asia
Singapore-based insurer Singlife’s investment arm is building its Asian private equity programme to achieve a more equitable representation of investments across the East and the West.
Apollo Global eyes major foothold in India’s credit market, in talks to take over BPEA Credit
If the deal goes through, it will change the entire landscape of the performing credit market in the region, which is grossly underserved.
Indonesia-listed Saratoga likely to acquire Brawijaya Hospital from PE firm Falcon House
Falcon House has been looking to divest its stake in Brawijaya Hospital since 2020.
Not so shiok anymore? Singapore’s cultivated meat startup star fades
In this news analysis, we examine the Shiok Meats-Umami Bioworks merger that comes at a challenging time for the alternative protein sector.
The LP View: Oriza FOFs eyes HK as first step to fundraise beyond mainland China
Xu Qing, managing partner at Oriza FOFs, an arm of Suzhou Oriza Holdings, believes that the firm is at the forefront of China’s $3 trillion private fund industry.
Indonesia’s logistics tech startups brace for consolidation amid tight market
In yet another sign of growing consolidation in the logistics tech space, Jakarta-based trucking company Kargo Technologies is understood to have entered into a strategic partnership with Malaysia-based logistics platform The Lorry.
Bee Alternatives to raise seventh secondary fund this year, targets at least $200m
The firm is expecting increased contributions on the back of rising interest in secondary funds and the firm’s track record.
Temasek-backed Tikehau Capital looks to open HK office to widen China presence
The move to establish a physical presence in Hong Kong comes at a time when asset management firms are scaling back their presence in Greater China.
Cathay Life to offload $1.2b stake in 21 funds to HarbourVest in secondaries deal
The Taiwanese insurer said it is anticipating an approximate profit of $270 million from the secondaries deal.
It’s important not to overestimate the unit economics: Leo Capital’s Harish Kumar
Convincing LPs about the potential of emerging markets is far more difficult during the trough seasons—and for good reason. It’s simply more difficult to make money in these places, he said.
India’s unicorn fever cools down as valuations get more real
Even as India has added two startups to its unicorn club in the first quarter of 2024, compared with just two in the whole of 2023, it’s a far cry from the heady years of 2021-22.