Pimfha Chan

Asia–Pacific (APAC)

Private Equity Reporter at DealStreetAsia

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Articles

Private equity merger signals watershed moment in Southeast Asia

2 weeks ago | dealstreetasia.com | Pimfha Chan

Southeast Asia’s oldest private equity firms may be edging towards consolidation, as pressure from a tough fundraising environment pushes local GPs to consider mergers with global investment platforms—potentially shrinking the pool of standalone fund managers in the region. Start your deal-making journey now!Subscribe now to enjoy unlimited access at just $59. Premium coverage on private equity, venture capital, and startups in Asia. Exclusive scoops from our reporters in nine key markets.
Montana Capital buys private equity secondaries from Prudential Financial

2 weeks ago | dealstreetasia.com | Pimfha Chan

Montana Capital Partners, a Swiss private equity secondaries firm under PGIM Private Alternatives, has acquired a significant private equity portfolio from Prudential Financial Inc (PFI). The portfolio comprises mid-market buyout assets across various funds and co-investments and was acquired by Montana’s latest secondaries programme and select co-investors, according to a company announcement on Monday.
Australia's ROC Partners raising $300m for latest Asia fund

Nov 24, 2023 | asia.nikkei.com | Pimfha Chan |Dealstreet Asia

BANGKOK -- Sydney-based alternative investment manager ROC Partners is in the market to raise its sixth Asia Pacific-focused fund, which has a target of $300 million, according to the company's recent filing with the U.S. Securities and Exchange Commission (SEC). The vehicle, ROC Asia Pacific Private Equity Fund VI, has so far raised at least $66 million from three investors since its launch in late October, according to the filing.
TPG set to close $6bn Asia buyout fund in first half of 2024

Nov 8, 2023 | asia.nikkei.com | Pimfha Chan |Dealstreet Asia

BANGKOK -- U.S. private equity behemoth TPG is expecting the final close of its $6 billion eighth flagship Asia buyout fund in the first half of next year after launching it in January 2022, the company said during its earnings call. TPG Asia VIII had already gathered almost $4.3 billion as of the third quarter of 2023, after announcing the first close at $3.4 billion in November last year. The firm has so far raised $900 million for the fund in the past 12 months, recent filings show.
Ares Management closes sixth Asia flagship fund at $2.4bn

Nov 1, 2023 | asia.nikkei.com | Pimfha Chan |Dealstreet Asia

BANGKOK -- U.S. private credit giant Ares Management has secured the final close of its sixth flagship Asia special situations fund at $2.4 billion, including a sidecar vehicle, after around 22 months of fundraising. Ares SSG Capital Partners VI mostly recently secured $200 million in equity commitments, according to its earnings report for the third quarter of 2023.
Singapore's Orion Capital Asia raises $205m for latest fund

Oct 11, 2023 | asia.nikkei.com | Pimfha Chan |Dealstreet Asia

BANGKOK -- Orion Capital Asia, a Singapore-based private credit investor, has raised $205 million for the first close of its latest fund, which is dedicated to direct lending opportunities in the Asia-Pacific region. The company provides medium-term secured loans to midmarket businesses that have been underserved by traditional banking channels, including both private equity sponsors and local entrepreneurs, according to a statement on Monday.
Hong Kong-listed real estate manager ESR raises $2b

Aug 24, 2023 | asia.nikkei.com | Pimfha Chan |Dealstreet Asia

BANGKOK -- Hong Kong-listed real estate group ESR has raised $2 billion through 15 new or enlarged funds and mandates -- 80% of which are dedicated to the new economy sector -- in the first six months of this year despite a global fundraising drought. The warehouse giant on Wednesday announced the second close of its data center fund, also known as ESR Data Centre Fund I, which was expanded to $1.3 billion with a commitment from an unnamed global investor.
French investor Ardian in talks to pursue Asia fund strategy

Aug 2, 2023 | asia.nikkei.com | Pimfha Chan |Kristie Neo |Dealstreet Asia

BANGKOK/SINGAPORE -- French private equity major Ardian is exploring an Asia-focused fund strategy to capture rising opportunities in the region's secondary market, according to its Singapore-based managing director Won Ha.This marks a slight strategy shift for the Paris-based secondary investor, which has historically deployed out of a single global flagship vehicle for opportunities across the U.S., Europe and Asia Pacific.
Thailand crypto exchange Bitkub's parent cuts 5.5% of staff

Jul 12, 2023 | asia.nikkei.com | Pimfha Chan |Dealstreet Asia

BANGKOK -- Bitkub Capital Group, the parent company of Thailand's largest digital asset exchange Bitkub Online, has fired about 5.5% of its personnel and curbed employee benefits to put a lid on costs amid economic headwinds, it said in a statement on Wednesday. There was also a retrenchment at Bitkub Online, where around 2% of staff were let go, the statement added.
Hong Kong's Gaw Capital hits $3bn at close of real estate fund

Jul 2, 2023 | asia.nikkei.com | Pimfha Chan |Dealstreet Asia

BANGKOK -- Gaw Capital Partners, a real estate private equity company run by one of Hong Kong's richest families, has achieved $3 billion in the final close of its latest flagship real estate fund for the Asia-Pacific region, according to a statement. The news comes after Gateway Real Estate Fund VII, the seventh installment of its opportunistic real estate fund, announced the first close at $1.2 billion in November 2021.