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☆ Bain Capital raises $7.1 bln in largest pan-Asia PE fund this year
▼ + stars: | 2023-11-21 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. Bain Capital said the firm itself committed $750 million to Bain Capital Asia Fund V, alongside existing and new investors. At $7.1 billion, the fund is Bain Capital's biggest to date for Asia and also the region's largest private equity fund raised this year, according to Preqin data. Bain Capital, which started fundraising in the second half of 2022, had an initial target of $5 billion. Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $180 billion in total assets globally.

Persons: Kim Kyung, you've, David Gross, Gross, Toshiba Corp's, Bain, Kane Wu, Jacqueline Wong Organizations: Bain Capital, REUTERS, Bain Capital Asia Fund V, Bain Capital's, Bain, ., Toshiba, Chindata, Estia, Intelligence, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, U.S, Bain Capital's Asia, . Asia, China, India

☆ Bain Capital to buy consulting firm Guidehouse in $5.3 bln deal
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon/FIle photo Acquire Licensing RightsNov 6 (Reuters) - Private equity firm Bain Capital will acquire government and business consulting firm Guidehouse in a deal valued at $5.3 billion, the companies said on Monday. Bain Capital declined to comment on specific terms of the Guidehouse deal, when contacted by Reuters. Guidehouse has been owned by Veritas Capital since 2018, when the PE firm acquired Big Four firm PwC's U.S. public sector business and rebranded it as Guidehouse. It also agreed to acquire 90% of India's Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company.

Persons: Kim Kyung, Guidehouse, Grant, Pritam Biswas, Devika Nair, Savio D'Souza, Shailesh Organizations: Bain Capital, REUTERS, U.S . Department of Defense, Homeland Security, Reuters, Veritas Capital, Big, Macquarie, Dovel Technologies, Chindata, Adani, Thomson Locations: Tokyo, Japan, United States, Bengaluru

☆ TPG dangles messy end for EY’s loveless marriage
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

On Monday, the Financial Times reported that private equity firm TPG (TPG.O) had approached EY about buying a stake in its consulting arm. Back in May of last year when EY’s split was leaked to the press, valuations were much more attractive. If TPG pushes for a full breakup, EY would still have to work out how to divvy up its tax advice business between audit and consulting. Given the challenges, EY may well decide it’s better to soldier on with an awkward marriage than risk a messy divorce. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: EY’s, EY, Aimee Donnellan, Exor’s Philips, Bain, Neil Unmack, Oliver Taslic Organizations: Reuters, Financial Times, TPG, Big, Partners, Twitter, Thomson

☆ Sea sails recklessly into choppy e-commerce waters
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Singapore-based Sea Limited Chairman and CEO Forrest Li, speaks during an interview with CNBC following his company's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 20, 2017. REUTERS/Brendan McDermid Acquire Licensing RightsHONG KONG, Aug 16 (Reuters Breakingviews) - Sea's (SE.N) boss Forrest Li has picked a turbulent time to rock the boat. But Li's declaration on Tuesday that it's time to "ramp up" investments again risks wiping out the hard-earned investor goodwill. Despite Li's assurances that Sea will keep emphasising self-sufficiency and cost efficiencies, investors promptly erased some $10 billion, or 29%, in market value. In July, the latter injected $845 million into its Southeast Asian arm, signalling a price war may be on the horizon.

Persons: Forrest Li, Brendan McDermid, HONG KONG, Li, China's Alibaba, Robyn Mak, Exor’s Philips, Bain, BoE, Antony Currie, Thomas Shum Organizations: CNBC, New York Stock Exchange, REUTERS, Reuters, HK, Twitter, FC Barcelona’s, Messi, Thomson Locations: Singapore, New York, U.S, HONG, York

☆ High services costs make UK rate-cutting laggard
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Alastair Grant/Pool via REUTERS Acquire Licensing RightsLONDON, Aug 16 (Reuters Breakingviews) - UK inflation is slowing, according to many metrics. Unfortunately, those are not the ones the Bank of England values the most. Prices in that category grew 7.4% in July, faster than June’s 7.2%, due to more expensive restaurants, hotels and airfares. Policymakers keep a close eye on services’ prices and wage growth, which hit a record in the three months to June.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, Bailey, Francesco Guerrera, Exor’s Philips, Bain, Neil Unmack, Streisand Neto Organizations: Bank of England, Monetary, REUTERS Acquire, Reuters, Bank of, Office, National Statistics . Services, European Central Bank, U.S . Federal Reserve, Twitter, FC Barcelona’s, Messi, Thomson Locations: London, Britain, Bank of England, June’s

☆ Salesforce cage-rattlers leave in profitable peace
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Acquire Licensing RightsNEW YORK, Aug 15 (Reuters Breakingviews) - For activist investors in Salesforce (CRM.N), the low-hanging fruit should suffice. Fast growth and big-ticket acquisitions that Salesforce boss Marc Benioff had pursued turned anathema last year. The stock price roughly halved, falling faster than the Nasdaq-100 Technology Sector Index (.NDXT). Benioff eventually acquiesced, slashing 10% of the workforce, disbanding the deals committee and unveiling a $20 billion stock buyback plan. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Porte, Jeff Smith’s, Dan Loeb’s, Marc Benioff, ValueAct, Benioff, Jonathan Guilford, Exor’s Philips, Bain, BoE, Jeffrey Goldfarb, Sharon Lam Organizations: Viva Technology, Porte de, Reuters, Big Tech, Nasdaq, Profit, Elliott Investment Management, Twitter, FC Barcelona’s, Messi, Thomson Locations: Paris, France, Salesforce, Salesforce’s

☆ Bain puts Chindata minority owners out of misery
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Aug 14 (Reuters Breakingviews) - Bain Capital has just taught a refresher course in the perils of being a minority investor. On Friday the buyout firm agreed to take Chindata private in a deal that values the Chinese data centre operator it already controls at $3.2 billion. But those who bought in when the U.S. private equity firm took Chindata public in 2020 or were hoping for a bidding war – or both – have good reason to be disappointed. Second, a unit of state-owned conglomerate China Merchants Group countered Bain with a $3.4 billion deal, which Chindata took a month to acknowledge. And it has let investors holding another fifth or so of Chindata stock into the buyout group.

Persons: Bain’s, Bain, Chindata, Antony Currie, BoE, Robyn Mak, Katrina Hamlin Organizations: MELBOURNE, Reuters, Bain Capital, China Merchants Group, China Merchants, Twitter, FC Barcelona’s, Messi, Siemens, Thomson Locations: New York

☆ Exor’s Philips bet looks well-timed
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

The Agnelli family’s investment company on Monday said it bought a 15% stake in the toothbrushes-to-defibrillators group for 2.6 billion euros ($2.8 billion). Philips’ shares are down some 62% since the peak in April 2021, and it now looks much cheaper than the sum of its parts. Based on peer multiples, its diagnostics business could be worth 14 times 2024 EBITDA, while its connected care unit, which helps hospitals manage patient data, might be valued at 18.5 times EBITDA. Lastly, throw in the consumer division, which makes toasters and TVs, and could fetch 12 times EBITDA. Using Refinitiv forecasts, that would imply a total enterprise value of 33 billion euros, and equity of some 24 billion euros, after taking off debt and 2.4 billion euros for legal costs estimated by Bernstein analysts.

Persons: John Elkann, Agnelli, Philips ’, EBITDA, Bernstein, Roy Jakobs, Philips, Karen Kwok, Bain, BoE, Neil Unmack, Streisand Neto Organizations: Reuters, Koninklijke Philips, U.S . Department of Justice, Philips, Twitter, FC Barcelona’s, Messi, Siemens, Thomson

☆ Chinese data center operator Chindata to go private in $3.16 bln deal
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Aug 11 (Reuters) - Chindata Group said on Friday it would go private in a sweetened $3.16 billion deal with investor Bain Capital, ending months of uncertainty over the future of the Chinese data center operator that also received interest from China Merchants Group. It also marks a premium of about 43% to the closing price of Chindata shares before the initial approach was made public. U.S.-listed shares of Chindata, which operates data centers in China, India and Southeast Asia, rose 3% after the bell. Data centers operators have enjoyed a surge in demand in recent years as more businesses take to the web. The go-private deal announced on Friday will be funded through a combination of cash and debt financing provided by Shanghai Pudong Development Bank, Chindata said.

Persons: Chindata, Manya Saini, Shinjini Organizations: Chindata, Bain Capital, China Merchants Group, Nasdaq, China Merchants Capital, Shanghai Pudong Development Bank, Thomson Locations: U.S, Chindata, China, India, Southeast Asia, Bengaluru

☆ Bain’s Chindata buyout saga verges on absurd
▼ + stars: | 2023-07-13 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

On first blush, that appears to be what Bain Capital (BCSF.N) is trying to do with Chinese data centre operator Chindata . But it’s a saga that’s starting to verge on the absurd. Bain took Chindata public on the Nasdaq in September 2020. Less than three years later, the U.S. leveraged buyout veteran offered $8 per American Depositary receipt, valuing the company at $2.9 billion. The company has yet to acknowledge the offer from China Merchants Capital.

Persons: Bain, Chindata, there’s, Bain’s, Robyn Mak, Thomas Shum Organizations: MELBOURNE, Reuters, Bain Capital, Nasdaq, U.S, Bloomberg, China Merchants Group, Chindata, Citi, Bain, China Merchants Capital, Thomson Locations: People’s Republic

☆ Bain Capital explains its bid to take Chindata private
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBain Capital explains its bid to take Chindata privateJonathan Zhu of Bain Capital discusses the company's offer to take the Chinese data center operator private in a deal valuing it at nearly $3 billion.

Persons: Jonathan Zhu Organizations: Capital, Bain Capital

☆ Bain Capital values Chindata at nearly $3 bln in take-private offer
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

Bain Capital's proposal values each American depositary share of Chindata at $8, representing a premium of more than 27% to its last closing price. The private equity firm already owns a 42.2% stake in Chindata, according to Bain Capital. Data centers and cloud services have seen increased demand due to the widespread adoption of AI technologies. However, analysts expect enterprise customers to optimize their expenditure on cloud services. Chindata's services include designing and operating data centers in China, India and Southeast Asia.

Persons: Bain, Akash Sriram, Shounak Dasgupta Organizations: Chindata, Bain Capital, Bain Capital ., Thomson Locations: Chindata, China, India, Southeast Asia, Bengaluru

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