Buyout shop Kohlberg Kravis Roberts & Co. has named former Clinton administration staffer Steven Okun as its director of public affairs for Asia Pacific, Reuters reported. Okun is currently chairman of the American Chamber of Commerce in Singapore. In his new role he will oversee KKR’s public affairs, corporate citizenship and external communications in the region, Reuters said.
1 min read · 09 February 2011
Malaysia’s Multi-Purpose Holdings has offered to buy Magnum Corp. from the Hong Kong arm of private equity firm CVC Capital Partners, Reuters reported. CVC owns a 47% stake in Magnum. CIMB and Newfields are joint advisers for the deal, Reuters said.
1 min read · 09 February 2011
Chinese company Bright Food presented the highest bid for a 50% stake in Yogurt maker Yoplait, which is currently owned by private equity firm PAI Partners, Reuters reported, citing a report in the French newspaper Le Figaro. Bright Food valued the French yogurt company at roughly $2.3 billion. Yoplait is half-owned by PAI Partners and French farming cooperative Sodiaal. PAI hired banks in September to help it exit the investment, Reuters said.
2 min read · 09 February 2011
Dallas-based firm Pepperwood Partners will invest up to $40 million in debt or equity financing in Cinsay Inc., an Austin-based developer of video, advertising, and e-commerce enterprise platforms. Terms of the financing were not disclosed. The funding will help Cinsay bolster its marketing and sales capabilities, the firm said. The funding is expected to close within two months.
2 min read · 09 February 2011
Affinity Equity Partners is in advanced discussions with buyers for its stake in Singapore-based shipping company Jaya Holdings, Reuters reported. A consortium led by Jaya CEO Chan Mun Lye was among suitors for Affinity's 54.7% stake in the company, which has a market capitalization of $412 million, Reuters wrote. Affinity bought its stake in Jaya Holdings in 2006.
2 min read · 09 February 2011
Czech security software maker AVG Technologies, which is backed by buyout shop Enterprise Investors, has shelved plans for an IPO, Reuters reported. The company, which makes free anti-virus software, will instead attempt to raise as much as $300 million in a bond issue, Reuters reported.
1 min read · 09 February 2011
European buyout firms AXA Private Equity and Permira will pay 500 million euros ($682.4 million) to buy travel website Opodo from Spainish company Amadeus, Reuters reported, citing an article in the French daily Les Echos. Paris-based AXA Private Equity manages and advises on roughly $25 billion in assets.
1 min read · 09 February 2011
Menlo Park, Calif.-based Lightspeed Venture Partners has promoted John Vrionis to managing director. Vrionis joined Lightspeed in 2006 as a senior associate and was later promoted to principal. He has led the firm’s investments in DataStax, Embrane, Fast IP, and IO Turbine. Lightspeed has more than $2 billion under management.
2 min read · 09 February 2011
Castle Creek has closed its fourth fund, Castle Creek Capital Partners IV, L.P., with $331 million. The fund will focus on recapitalization, growth equity, and buyout investments in U.S.-based community banks. So far, the fund has invested in seven banks. Formed in 1992, Castle Creek is based in Rancho Santa Fe, Calif.
3 min read · 09 February 2011
Buyout shop KSL Capital Partners has added Craig Henrich as a principal. Previously, Henrich worked as a senior managing director of CW Capital Investments, where he led its single asset group specializing in the acquisition and management of debt investments, including high-yield and mortgage-backed securities. KSL is based in Denver.
2 min read · 09 February 2011
