Private equity

ICG and Kirkbi A/S acquired Minimax in 2014 with ICG and co-investors acquiring Kirkbi’s stake in 2018.

The firm has appointed Michael Hu, a former managing director at Ardian, to lead its regional investment and business development activities from its new office in Singapore.

Riccardo Villa will advise firms accessing capital at both the portfolio and corporate level.

Cathay Life and some of its fellow Taiwanese insurers have been pulling back from private markets due to current and impending regulatory capital requirements.

Continuation vehicles across different geography, size and industry of underlying assets have generated similar return multiples.

Permira is moving five assets into a continuation fund including US customer experience solutions provider Genesys, which was previously part of a continuation fund transaction in 2020.

Rothschild advised on €2bn of GP-led deal volume last year, including infrastructure continuation fund deals for Ancala Partners and DWS.

The region played host to some sizeable and complex GP-led deals, including a continuation fund for Oakley Capital’s IU Group.

While demand among GPs for liquidity options to pay back LPs in older funds is strong, the limiting factor is the relatively small pool of capital available for such deals.

The firm is gearing up to launch its next fund and could target $1bn, Secondaries Investor understands.