private equity

PE firm Affinity Equity Partners has sold its 78% stake in the Penang-based private hospital, as medical tourism booms in Malaysia.

The deal for the Apac data centre firm, if completed, would be Blackstone’s largest investment in the region; Macquarie Asset Management and PSP Investments are among the sellers.

The acquisition of the Mumbai-headquartered pharmaceutical business was led by Platinum Equity's Asia investment team in Singapore.

EQT invests in Australian tech education firm Compass; HKEX's H1 2024 results; iron ore slowdown sees BHP diversify; Canada to slap tariffs on Chinese EVs, steel and aluminium; HKIC invests in Thailand.

The deal is expected to close by the end of Q1 2025 with its shares to stop trading on the NYSE; majority shareholders TPG and KKR have approved the deal. EQT has also bought a Korean plastic recycler and is looking to raise $12.5bn for a fund.

The $1.6bn fundraise more than doubled the fund’s target size of $750m. The mid-market strategy will focus on the technology, services and healthcare sectors, prioritising India, SE Asia, Japan and Australia.

The global private equity firm's fifth Japanese buyout fund is targeting sectors including technology, media, telecoms, retail and healthcare, and is 70% larger than its previous fund.

The PE firm says the fund, which has already invested in telecommunications' towers in the Philippines and roads in India, is the largest ever Apac pan-regional infrastructure fundraise.

Aravind Krishnan, a managing director at Blackstone Private Equity, will relocate from Mumbai to lead the expanding Southeast Asia team.