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Private equity and venture capital news from Australasia

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• CHAMP puts Healthcare Australia up for sale 21 Jul 2010. Source: AltAssets. Private equity firm CHAMP is seeking a buyer for Healthcare Australia, the country’s largest nursing and aged care staffing business, according to Reuters.

• Ninety per cent of LPs want exposure to "green" investments 20 Jul 2010. Source: AltAssets. “Green” private equity is on top of the agenda, with more than 90 per cent of institutional investors claiming they want exposure to the sector, according to new research.

• Carlyle-TPG partnership wins Healthscope auction 19 Jul 2010. Source: AltAssets. After weeks of speculation, Healthscope has finally agreed on a buy-out by US private equity giants The Carlyle Group and TPG Capital, in a deal that values the Australian private healthcare provider at AUS$2.7bn ($2.35bn).

• China Merchants beat out CHAMP, Pacific Equity for pallet-maker 05 Jul 2010. Source: AltAssets. Australian private equity firms CHAMP and Pacific Equity have been beaten to the punch for Loscam, a pallet-maker owned by Affinity Equity Partners, by Chinese state conglomerate China Merchants Group, with a deal value estimated at up to AUS$700m ($587m).

• CHAMP exits Study Group for $570m, picks up ATF Services 01 Jul 2010. Source: AltAssets. Australian private equity firm CHAMP has sold university programme provider Study Group to US media and communications specialist Providence Equity Partners.

• Providence takes the lead in Study Group auction 23 Jun 2010. Source: AltAssets. Media and communications-focused private equity firm Providence has taken the lead in the bidding for Study Group, according to reports.

• Riverside continues to deploy Asia fund with Japan and Australia investments 04 Jun 2010. Source: AltAssets. US lower mid-market firm Riverside Company has signalled its deepening interest in Asia with new investments in Japan and Australia.

• CVC to join KKR as PE bidding for Healthscope intensifies 01 Jun 2010. Source: AltAssets. The race for Australian healthcare company Healthscope has intensified, with CVC in talks with KKR to join the New York firm’s $1.5bn bid, according to reports.

• Blackstone to expand into Australia 19 May 2010. Source: AltAssets. US private equity firm Blackstone is to expand into Australia to capitalise on opportunities in the region, according to Reuters.

• Healthscope receives $1.6bn offer from PE consortium 14 May 2010. Source: AltAssets. Australian hospital operator Healthscope has announced that an unnamed private equity consortium has made a $1.6bn buy-out offer for the company, which Reuters reports as comprising Carlyle and TPG.

• Riverside squeezes into Australian market with juice bar deal 04 May 2010. Source: AltAssets. The Riverside Company, a US mid-market buy-and-build specialist, has moved into the Australian market with its first play in the country - Boost Investment Group, owners of Boost Juice Bars and Salsa’s Fresh Mex Grill.

• Australia Future Fund posts 2.8 per cent quarterly return 30 Apr 2010. Source: AltAssets. Australian sovereign wealth vehicle the Australia Future Fund has reported a 2.8 per cent return for the quarter to 31 March. This brings the level of returns for the fund’s latest investment programme to 3.1 per cent since it launched in July 2007.

• Pacific Equity, CHAMP bid for Affinity Equity-owned pallet maker 23 Apr 2010. Source: AltAssets. Australian private equity firms Pacific Equity Partners and CHAMP have advanced to the second round of bidding for pallet maker Loscam, owned by Affinity Equity Partners, according to Reuters.

• Riverside sets up shop in Australia 20 Apr 2010. Source: AltAssets. US lower mid-market private equity firm The Riverside Company has expanded its activities with the opening of a new office in Melbourne, Australia, as it looks to deploy its Riverside Asia Fund.

• Anchorage Capital Partners caps fund at AUS$200m 15 Apr 2010. Source: AltAssets. Sydney-based private equity firm Anchorage Capital Partners has closed its maiden fund on AUS$200m ($186.7m), having capped the vehicle after receiving strong Australian and US investor interest.

• Denham Capital takes stake in New Zealand iron ore miner TTR 12 Apr 2010. Source: AltAssets. Energy sector-focused private equity firm Denham Capital Management has purchased a stake in New Zealand steel and iron exploration and mining company Trans-Tasman Resources.

• Babson dedicates PE and mezzanine team to Asia-Pacific 23 Mar 2010. Source: AltAssets. US investment management firm Babson Capital Management has expanded its private equity and mezzanine debt operations by establishing a dedicated eight-man team for the Asia-Pacific region.

• New Zealand angel investment hits NZ$50m in 2009 05 Mar 2010. Source: AltAssets. New Zealand start-up companies received a boost from angel investors in 2009, as the amount of capital from high net worth individuals grew to NZ$50m ($34.5m). The figure represents a 72 per cent increase on the previous 12 month record of NZ$23m ($15.8m) invested in 2008, based on data collected by New Zealand analysts Young Company Finance.

• NZ PE firm Direct Capital beats target for latest fundraising 17 Feb 2010. Source: AltAssets. Direct Capital, a New Zealand-based private equity firm, has wrapped up fundraising for its Direct Capital IV fund on NZ$325m ($229.4m), beating its target of NZ$250m ($176.5m).

• AVCAL says new tax laws could reduce foreign PE investment in Australia 01 Feb 2010. Source: AltAssets. An Australian private equity association has criticised draft tax proposals on private equity deals in the country, saying they show a “lack of understanding” of how the industry functions. The Australian Private Equity and Venture Capital Association (AVCAL) says that the proposed private equity tax legislation could pose a threat to future foreign investment in the country.

• Australia pursues TPG for $628m in Myers sale taxes and penalties 25 Nov 2009. Source: AltAssets. US private equity firm TPG has been hit with a $628m bill from Australian authorities over alleged unpaid taxes from the $2.2bn sale of department store chain Myers, in a case that could affect future Australian private equity activity. According to reports, the charges include AUS$452m ($421.7m) in capital gains tax, and half again in penalty fines.

• TPG in $632.5m tax dispute over Myers exit 16 Nov 2009. Source: AltAssets. TPG has become embroiled in a dispute with an Australian regulatory body over alleged non-payment of taxes from the $2.2bn sale of department store chain Myers last month.

• TPG and Blum Capital exit Myer department store in $2.2bn IPO 30 Oct 2009. Source: AltAssets. TPG and Blum Capital Partners, the US private equity owners of Australian department store group Myer, have exited their majority stake in the chain in a Sydney flotation that valued the business at AUS$2.4bn ($2.2bn), according to reports. The IPO is Australia’s largest for two years.