Apple's recent shift away from liquid-crystal displays (LCDs) has triggered a funding crunch for Japan Display.
Led by David Shirt, Astris Advisory Japan was formed a year ago.
The firm is said to target $300 million for a USD-denominated portion of the fund.
Based on its earnings, Velocity could be valued at around A$2 billion ($1.4 billion).
This is CVC Funds’ first major investment in the Gulf.
The deal is expected to draw interest from global private equity firms.
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The three banks include National Australia Bank Ltd., Westpac Banking and ANZ Banking Group Ltd.
The two investors have also agreed to buy an additional 14 hectares of land for the estate.
Retail Food Group is Australia's largest multi-brand retail food franchise owner.
The new fund will use $158.6 million from NZ Super Fund and $39.6 million from NZVIF.
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