KKBOX snags $104 mln from GIC

Asia-based music streaming service provider KKBOX has received $104 million from Singapore-based sovereign wealth fund GIC. According to the firm, the capital infusion will be used for overseas expansions as well as to fine-tune its technology and service.

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Venari Resources raises additional $1.3 bln from private equity group

Deepwater oil exploration company Venari Resources has raised an additional $1.3 billion from a group of investors. Venari’s management and existing investors Warburg Pincus, Kelso & Company, Temasek and The Jordan Company were joined by new investors GIC and BlackRock Private Equity Partners. To date, Venari has raised $2.4 billion, including $1.1 billion when the company was formed in May 2012.

Laxfield Capital provides debt for Urbanest

Laxfield Capital, a specialist UK commercial mortgage investment manager, has completed a loan facility for student accommodation provider Urbanest. The Laxfield Lending Programme is backed by GIC, Singapore’s sovereign wealth fund.

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Insight Venture Partners to acquire iParadigms

iParadigms is to be acquired for $752 million by Insight Venture Partners and GIC, Singapore’s sovereign wealth fund. iParadigms is a provider of cloud-based educational technologies to prevent plagiarism, verify content, and evaluate student learning.

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EQT Mid Market acquires I-MED Radiology Network

EQT Mid Market is to acquire Australia-based I-MED Radiology Network, a diagnostic imaging network. Caisse de dépôt et placement du Québec of Canada and Singapore-headquartered GIC will be investing alongside EQT Mid Market.

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GIC invests in Intelligent Energy

Intelligent Energy Holdings and GIC, Singapore’s sovereign wealth fund have invested approximately $63 million in the company.The investment takes the form of a new issue of 15,129,468 Ordinary Shares to GIC, representing 10 per cent of the company’s enlarged issued ordinary share capital immediately following the placing of shares to GIC.

Singapore’s Ascendas, GIC to invest in India property – Reuters

Singapore warehouse and industrial park developer Ascendas has set up a programme with a target asset size of S$600 million ($481.60 million) to invest in Indian real estate, focusing on business space, writes Reuters. Singapore sovereign wealth fund GIC is a principal investor in the programme.

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peHUB First Read

Tuesday morning brings news of Littlejohn’s latest fundraising, the biotech class of 2013, BDCs tapping venture lending for growth and Capita’s chief exec returning to private equity.

Reuters – Springer Science Set to Attract Five Bids from PE

Five private equity groups are set to bid for Springer Science+Business Media, owned by private equity firm EQT and sovereign wealth fund GIC, writes Reuters. While EQT and GIC are hoping to reap as much as 4 billion euros ($5.2 billion) for the German speciality publisher of scientific journals, the prospective buyers are unlikely to offer much more than a price tag of slightly over 3 billion euros, writes Reuters.

Reuters – EQT Shelves Springer Science Sale

EQT has pulled the sale of German academic publisher Springer Science+Business Media because it believes it can achieve a better price later in the year, the Financial Times reported, writes Reuters. Sweden’s EQT, which teamed up with GIC, the investment vehicle of the government of Singapore, to buy Springer in 2009 was aiming to get up to 4 billion euros ($5.3 billion) for the publisher.

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