Private equity exit processes and Indonesia’s troubled aquatech startup eFishery-linked developments were among the most-read stories last month.
US private equity firm KKR’s plans to exit its nearly eight-year-old investment in Indonesia-listed PT Nippon Indosari Corpindo Tbk, which is known for its Sari Roti brand, were among the top stories of August. Incidentally, the company announced the exit a month later, confirming DealStreetAsia’s report.
In our continued coverage of the eFishery saga, we brought you several stories including an eFishery-dedicated clause in the Northstar-Ares deal terms; the proposed payout plan for the firm’s preference shareholders; and the detaining of former top executives.
From SE Asia, our stories on Dymon Asia’s exit from Texas Chicken’s Singapore operator, the Link Net sale process, and the new market playbook of Indonesian coffee chains were among the most-loved stories.
From Greater China, we brought you a two-part series on how the new capital rules in Taiwan will reshape the deployment strategies of life insurers, who are among LPs in private equity heavyweight firms worldwide.
From India, we examined two hot-button sectors: Healthcare and F&B, which are attracting sustained investor interest.
Southeast Asia
KKR said to finalise exit from Indonesian bread maker
The transaction, which values KKR’s nearly 22.2% stake at $140-150 million, may involve a debt component.
Northstar provides safeguard to Ares on eFishery exposure
An eFishery-dedicated sub-clause became part of the deal terms between Northstar and Ares earlier this year following the unraveling of eFishery’s financial misconduct.
eFishery proposes liquidation plan that favours preference shareholders
The proposed liquidation plan, therefore, sidelines premiums paid in later secondary trades and leaves ordinary shareholders with nothing unless funds remain.
eFishery founder, ex-top executives detained by Indonesian police
The arrests, carried out by the West Java Regional Police early August, mark the sharpest escalation yet in the legal fallout engulfing one of Southeast Asia’s most celebrated agritech startups.
Dymon Asia sells Texas Chicken’s SG operator stake back to promoter
The fund manager has fully exited Select after about nine years of being its shareholder and returned capital to the limited partners of its fund.
Indonesia’s coffee chains reset amid market shift and new entrants
Investors, who once rewarded top-line growth, have changed tack, and the new, tougher funding climate has forced coffee chains to abandon their high-burn models.
CVC drops plan to invest in ICG’s PSB Academy
ICG bought a 100% stake in PSB from Baring Private Equity Asia (now EQT Private Capital Asia) in 2018 — its second investment in the private education sector in the Asia Pacific region.
Danantara’s initial bets raise transparency, interference concerns
Despite Danantara’s headline-grabbing deals, experts warn that the fund must focus exclusively on profitable projects that adhere to clear, publicly disclosed criteria.
Two frontrunners emerge as Axiata said to be nearing sale of Link Net
The deal is expected to fetch over $1 billion, potentially making it one of Southeast Asia’s largest digital infrastructure transactions this year..
Asia’s growing LP-led secondaries market hits a buy-side bottleneck
Many buyers remain cautious, citing perceived risks, limited familiarity with Asia, and the relatively small role the region plays in their broader secondary strategies.
Indonesian F&B startup Hangry to finalise new $8m internal round
Hangry closed its Series A round at $35 million after it raised a second tranche of $22 million in a mix of debt and equity in 2022.
Greater China
Taiwan life insurers gear up for PE fund portfolio shift ahead of new capital rules
Taiwan’s life insurers, who are among the major LPs behind private equity heavyweights, are preparing to reshape their PE fund portfolios ahead of a new capital regime.
Taiwan opens door to local PE, but will insurers finally invest at home?
Things are about to change thanks to a series of government initiatives to channel more insurance capital into public construction projects.
India
Global PE giants take over top Indian hospitals — who will pay the price?
The worry is that the incessant, often insensitive, drive for profits that PE firms are notorious for could price out nearly a third of the country’s burgeoning middle class from accessing quality healthcare.
Why investors are hungry for a piece of India’s F&B pie
This surge, coming at a time when other sectors are grappling with a funding slowdown, underscores growing investor confidence in India’s branded, scalable F&B ventures.
