Japanese beverage company Asahi Group Holdings will acquire New Zealand’s Independent Liquor, Reuters reported, citing the Nikkei business daily. Independent Liquor is currently owned by private equity firms Unitas and Pacific Equity Partners. The deal is valued at roughly 100 billion yen ($1.3 billion). Unitas and Pacific Equity Partners acquired Independent Liquor in 2006 for more than $1 billion, Reuters wrote.
Private Advisors has raised $211.5 million for its fourth fund that will target small cap buyout and growth equity funds, a source says. The final close for Private Advisors Small Company Buyout Fund IV occurred on July 29. The pool had a $200 million target, the person says. It's not clear if Private Advisors used a placement agent. Fund IV has already committed $117.5 million to 11 PE funds, the source says. Of the pool's 38 LPs, twelve are re-ups, the source says. Richmond, Va.-based Private Advisors, a funds-of-funds that invests in hedge and private equity funds, has more than $3.5 billion in assets under management.
When peHUB ran its slideshow of spun-out private equity funds, we failed to include Incline Partners, the LBO shop that formerly came under the jurisdiction of PNC, the Pittsburgh-based bank. Thanks to Dodd-Frank requirements, Incline was in fact spun out this April with little fanfare. Soon, they’ll be making some news, however. Incline Partners, which is keeping its roots in Yinzer Nation post-PNC, is raising a fund with a $300 million target and will soon....
Today is Finance Friday and post #2 has been drafted by the Finance Friday team from University of Chicago Booth and is waiting for my edits. I’m procrastinating so I thought I’d write one of my periodic public service announcement for entrepreneurs. This one is more specific than “ignore the macro economy” – instead, it’s […]
The debt ceiling deal is unlikely to make much difference in the private equity and venture capital markets, and it may make things worse, peHUB readers believe. Responding to our question of the week yesterday and this morning, more than half of you, 52.1%, said the vote this week to avert a potential default on the […]
The Mandolin Fund, a Singapore-based investment fund, has increased its stake in Chinese forestry company Sino-Forest and now owns 18% of the company, Reuters wrote. The embattled Sino-Forest has been accused of fraud by short-seller Carson Block and his firm Muddy Waters, Reuters wrote. Shares of Sino-Forest are down more than 70% this year.
Clearview Capital in July acquired Pyramid Healthcare, an Altoona, Penn.-based provider of drug/alcohol and mental health treatment centers, the firm said. Terms of the deal were not released. Pyramid Healthcare operates 21 treatment facilities throughout Pennsylvania. Clearview Capital is a Connecticut-based private equity firm.
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Taiwan smartphone maker HTC Corp. is paying $18.5 million to buy Seattle-based Dashwire Inc., a mobile-web application company. The deal is aimed at bolstering HTC’s cloud computing services. Dashwire had raised venture funding from investors including Best Buy Capital and Trilogy Partnership.
London-based Colony Capital has acquired a portfolio of institutional real estate collateralized non-performing loans from four German banks: Eurohypo, Landesbank Hessen-Thüringen, Berlin Hyp and Archon Capital Bank. The portfolio has a face value of 370 million euro ($523.8 million).