KKR to buy Mitsubishi-UBS Realty; Pine Brook, Camcor mull selling Serafina

TOP NEWS IN PRIVATE EQUITY

* KKR & Co. Inc. subsidiary 76KK is buying real estate asset manager Mitsubishi Corp.-UBS Realty Inc. from Mitsubishi Corp. and UBS Asset Management Inc. for ¥230 billion in cash. The subsidiary is also buying the units in Japan Metropolitan Fund Investment Corp. and Industrial & Infrastructure Fund Investment Corp. held by Mitsubishi at market price.

* Pine Brook Road Partners LLC and Camcor Capital Inc. are looking at selling Serafina Energy Ltd., which could be worth over C$1 billion in a sale based on current commodity prices, Reuters reported March 16, citing sources familiar with the matter. The private equity firms have tapped possible bidders to gauge interest, the sources told the news outlet.

➤ Competition, stringent rules to constrain SPAC listings in Hong Kong, Singapore

Special purpose acquisition companies in the region may struggle to find targets after listing as they run against specific time frame requirements, analysts said.

READ MORE about the market reaction and industry impact of the evolving situation in Russia and Ukraine in our new Issue in Focus.

DEALS

* LDC (Managers) Ltd. acquired a significant minority stake in IT managed service and cybersecurity provider Aspire Technology Solutions Ltd. The deal valued the company at £85 million.

* Periscope Equity LLC sold its investment in digital performance marketing services company Power Digital Marketing Inc. The sale was conducted in connection with the strategic capital investment made by Court Square Capital Partners in Power Digital.

* Capital D Management LLP acquired a 64% majority stake in software-as-a-service company Phrasee Ltd. for an undisclosed amount. Investment funds managed by Morgan Stanley Expansion Capital, together with a group formed by Keyhaven Capital Partners Ltd. and family offices, co-invested alongside Capital D.

* KPS Capital Partners LP agreed to buy the porcelain enamel, glass coatings, forehearth colorants and frit-based metallurgical products businesses of Prince International Corp. The businesses will operate as a stand-alone company called Pemco International upon completion of the transaction.

* AEA Investors LP sold engineered plastic component supplier Pexco LLC from an Odyssey Investment Partners LLC fund. Financial terms of the transaction were not disclosed.

FUNDRAISING

* Cloud parking software company FlashParking Inc. raised more than $250 million in strategic investment from Vista Equity Partners Management LLC, L Catterton Partners, other prior investors and the company's management.

VENTURE CAPITAL

* Clinical-stage biotechnology company Precirix NV raised €80 million in a series B funding round. New investors Inkef Netherlands Manager BV, Jeito Capital SA and Forbion Capital Partners BV led the latest round.

* Media technology company Amagi Media Labs Private Ltd. raised $95 million in a funding round led by Accel Partners. Existing investors Avataar Venture Partners and NVP Associates LLC also participated.

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