Advent International has added Thomas Ryan, the former chairman and chief executive of CVS Caremark Corp., as a member of the firm’s operating partner program. Ryan will help Advent identify investment opportunities and work with the firm’s retail and healthcare companies.
3 min read · 13 October 2011
Tokio Marine Capital, a Japanese private equity firm, has launched a sale of drugmaker Showa Yakuhin Kako, Reuters reported Thursday. The company could be valued as high as 70 billion yen ($905 million), Reuters wrote. Tokyo-based Showa Yakuhin Kako is 50% owned by Tokio Marine Capital. Polaris Capital Group, another Japanese buyout firm, owns 23%, and a private equity arm of Pine Bridge Investments has another 23%.
1 min read · 13 October 2011
Standard Chartered Private Equity has put $61 million into South Korean motorcycle and auto parts maker Daelim Motor Co., Reuters reported. Formed in 1978, Daelim Motor makes Citi and Tact motorcycles, and supplies die-cast aluminium parts for engines and transmissions. It is part of chemical- and construction-focused Daelim Group.
1 min read · 13 October 2011
1 min read · 13 October 2011
TPG Capital is preparing this month to launch a new $4-5 billion fund to invest in Asia, Reuters reported Thursday. TPG, a U.S.-based firm founded in 1992, currently invests into Asia from a $19.8 billion global fund raised in 2008, and its $4 billion regional fund TPG Capital Partners V, raised in the same year, Reuters wrote.
1 min read · 13 October 2011
Xunlei Ltd., a Chinese Internet company partly owned by Google is pulling its planned initial public offering due to market conditions, Reuters reported. The company filed in June to offer up to $200 million shares. Xunlei makes software to increase download speeds.
1 min read · 13 October 2011
2 min read · 12 October 2011
Boston-based buyout shop Candescent Partners has acquired SoftBase Systems Inc., a provider of coding, testing and deployment tools for application development. Candescent led the transaction with co-investors Harbert Mezzanine Capital, Bush O'Donnell Capital Partners and Brooke Private Equity Associates. Terms of the deal were not released.
3 min read · 12 October 2011
Eric Grosse, Hotwire co-founder and the former president of Expedia, has joined TaskRabbit as chief executive. Based in San Francisco, TaskRabbit is a service networking platform that operates like an online temp agency, putting service providers in touch with consumers who need help. The company is backed by investors including Baseline Ventures, First Round Capital, FLOODGATE Fund, Collaborative Fund and Shasta Ventures.
3 min read · 12 October 2011
Denis Fabre has joined Blackstone as head of its advisory business for European healthcare clients, Reuters reported. He last worked for Swiss investment bank UBS.
1 min read · 12 October 2011
