TPG to Acquire Healthscope’s Asia Operations for US$206 Million (Asia)

Global alternative asset manager TPG has agreed to acquire the Asia pathology operations of Australia-based health care provider Healthscope for AUD279 million (approximately US$206 million). TPG will carve out 39 pathology laboratories in Singapore, Malaysia and Vietnam operating under the Gribbles Pathology and Quest Laboratories brands. The transaction is expected… Read More

Gaja Capital Invests US$25 Million in Educational Initiatives (Asia)

India-focused mid-market private equity fund manager Gaja Capital has invested US$25 million for a significant minority stake in Educational Initiatives, an India-based developer of interactive education and student assessment tools. The company, which has worked with more than 3,000 schools and maintains a presence in five countries, plans to use… Read More

CITIC Capital, FountainVest and Carlyle Exit Focus Media to Alibaba Group (Asia)

China-focused private equity fund managers CITIC Capital Partners and FountainVest Partners and global alternative asset manager The Carlyle Group have reportedly exited China-based digital media network operator Focus Media. The consortium, which took the company private in 2013 and re-listed it on the Shenzhen Stock Exchange via a reverse merger… Read More

Enterprise Investors to Acquire Minority Stake in Anwim (CEE and CIS)

Central and Eastern Europe-focused private equity fund manager Enterprise Investors has agreed to acquire a significant minority stake in Poland-based fuel station operator Anwim. The company, which operates under the MOYA brand, plans to partner with Enterprise to expand domestically. Enterprise will invest through Polish Enterprise Fund VIII. Financial details… Read More

Private Capital-backed Pinduoduo Raises US$1.63 Billion in IPO (Asia)

China-based discount e-commerce startup Pinduoduo has raised US$1.63 billion via its initial public offering (IPO) on Nasdaq. The company sold 85.6 million American Depository Shares for US$19.00 per share, valuing the company at US$33 billion. Pinduoduo is backed by China-based technology conglomerate Tencent Holdings and venture capital fund managers Sequoia… Read More

WeWork China Raises US$500 Million in Series B Round (Asia)

WeWork China, a subsidiary of U.S.-based office rental and co-working company WeWork, has raised US$500 million in a Series B funding round. Investors in the round included China-focused private equity fund managers Trustbridge Partners and Hony Capital, Singaporean sovereign wealth fund Temasek Holdings, global technology conglomerate SoftBank and the SoftBank… Read More

Warburg Pincus- and Primavera-backed Cango Raises US$44 Million in IPO (Asia)

China-based online automotive services platform Cango has raised US$44 million in its initial public offering (IPO) on the New York Stock Exchange. Cango, which is backed by private equity fund managers Warburg Pincus and Primavera Capital Group, technology conglomerate Tencent Holdings and ride-hailing company Didi Chuxing, sold 4 million American… Read More

PAPE Reaches US$35 Million First Close for Fund 3 (Sub-Saharan Africa)

South Africa-focused private equity firm PAPE Fund Managers has reached a first close for PAPE Fund 3 with ZAR471 million (approximately US$35 million) in capital commitments. Investors in the fund include the Public Investment Corporation (PIC) of South Africa, Eskom Pension and Provident Fund, FMO and family offices represented by… Read More



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