[Satellite TODAY 11-16-10] Permira Funds, through Ace Investments 1 Ltd., completed the acquisition of Asia Broadcast Satellite (ABS), Permira Funds announced Nov. 14.
    The acquisition of Kingsbridge Ltd., the holding company for ABS, represents a full exit for Citigroup Venture Capital International Proprietary Investment Partnership L.P. and Citigroup Venture Capital International Co-Investment, L.P. which have been the majority shareholders of ABS since 2006.
    “As our company enters the next stage of growth and development, we are very fortunate to have an investor like the Permira funds who have a deep understanding and a sound perspective of the satellite industry landscape,” Thomas Choi, founder and chief executive of ABS, said in a statement. “The Permira team has expressed tremendous confidence in the ABS management team and is committed to supporting the future growth of the company.”