🇮🇩 Indonesia's chemicals giant now sells Singapore's Mercedes: Chandra Asri takes JC&C's car business for $207M — TNGlobal · Permalink
PT Chandra Asri Pacific pays S$265 million plus up to S$30 million in earn-outs for ten Singapore subsidiaries, the Malaysian holdings and the Cycle & Carriage trademarks — Mercedes-Benz, Kia, Mitsubishi, Peugeot and Leapmotor across nearly 20 sites.
Positive-sum angle: The dealerships that fed 86% of JC&C's regional profit contribution now anchor an Indonesian group's push beyond petrochemicals, and Leapmotor gains a distributor with balance-sheet depth in two markets.
🇸🇬 Most of Temasek-backed Azalea's new $1B buys other people's positions, not new companies — DealStreetAsia · Permalink
Azalea Investment Management gathered over $1 billion across three vehicles: Altrium Private Equity Fund III at $526 million, Altrium Co-Invest Fund II at $210 million, and Azalea All Access, its first evergreen fund, at $350 million.
Positive-sum angle: The evergreen structure takes monthly subscriptions and quarterly redemptions, which puts private-equity secondaries within reach of Asian family offices that were never going to lock capital away for ten years.
🇻🇳 Vietnam's co-living operator found a Japanese bank before a growth fund: M Village raises $26M — DealStreetAsia · Permalink
Mizuho Asia Partners backed the Vietnamese co-living and hospitality operator's $26 million round. Trip.com had already taken a minority stake in the company.
💰 Seven years of debt gets repaid in full: Bain buys Gong Cha's 2,000 stores for $635M — DealStreetAsia · Permalink
Bain Capital is acquiring the bubble-tea chain from TA Associates and other shareholders for more than $635 million, closing by year-end. Partners Group's $200 million-plus 2019 unitranche loan is repaid in full.
Positive-sum angle: A private-credit position that funded a 2019 buyout exited through a 2026 buyout, which is the route Asia's stalled listing market has quietly been running its liquidity on.
💰 A stablecoin bank licensed in Jakarta and Kuala Lumpur just hit $1B: Fasset raises $68M — TNGlobal · Permalink
Japan's SBI Group led the Series C three months after a $51 million Series B. Fasset holds regulatory approvals in the UAE, Indonesia, Malaysia, the EU, Turkey and Pakistan, and runs over $40 billion in annualised transaction volume.
