Impact Case Study: KZ Noir Ltd.

In early 2011, Kaizen Venture Partners consolidated three distressed coffee processing companies under one holding company. Company Headquarters: Rwanda Business focus: Coffee processing Revenue: US$4.1 million (2012) Impact Highlights KVP consolidated three distressed coffee processing companies, restructured their debt (enabling them to avoid bankruptcy) and provided working capital financing through… Read More

Legal & Regulatory Bulletin – Issue No. 7, Autumn 2012

letter from the chairman This issue of the Legal and Regulatory Bulletin follows on a full week of very well attended and highly engaging EMPEA summits in London in late October. The topic of risk figured prominently during many of the sessions, with commentary ranging from tactical suggestions for identifying… Read More

Impact Case Study: United Envirotech Limited (UEL)

In October 2011, KKR invested US$113.8 million in convertible bonds, representing 38% of share capital if fully converted. Company Headquarters: China Business focus: Construction and operation of water and wastewater treatment facilities Revenue: SGD85.3 million; EBITDA of SGD21.2 million (FY 2012) Impact Highlights By providing growth capital and operational improvements,… Read More

Marketing Private Funds in the Middle East

In the past, managers promoting private funds in most countries in the Middle East—with the notable exception of Saudi Arabia—have not found much difficulty navigating local rules. Foreign fund managers would typically fly in, meet with clients, sign subscription agreements, and fly out a few days later without worrying… Read More

Africa: Maximizing Investment Opportunities While Minimizing Risk

African markets, boasting 10 of the top 20 fastest growing economies in the world and five of the world’s top 10 reformers in 2012 according to the World Bank’s Doing Business rankings, hold exceptional promise for private equity investors. However, the lack of transparency and underdeveloped legal systems and… Read More

Managing Political Risk in Emerging Markets

This article seeks to build a deeper understanding of political risks likely to be encountered by private equity investors in emerging markets by examining a number of key risks, suggesting appropriate mitigants for such risks and looking at some of the practical implications of using these solutions. Read More

Impact Case Study: Liberty Star Consumer Holdings (Libstar)

Metier co-founded Libstar in 2005 and has since acquired controlling stakes in more than 20 South African business in the fast-moving consumer goods (FMCG) manufacturing and distribution sector. Company Headquarters: South Africa Business focus: Fast-moving consumer goods Revenue: ZAR3.5 billion Impact Highlights Since 2006, Libstar has provided more than 20 manufacturing… Read More

Impact Case Study: TenGer Financial

Ronoc became a shareholder in TenGer Financial in 2008, and as of 2011, Ronoc holds 9.5% of share capital in the company. Company Headquarters: Mongolia Business focus: Financial services holding company IMPACT HIGHLIGHTS Ronoc’s team drew on their experience managing financial institutions in Eastern Europe and Russia to develop TenGer’s strategic vision, risk… Read More

Legal & Regulatory Bulletin – Issue No. 6, Summer 2012

We were delighted with the warm reception the EMPEA Legal and Regulatory Guidelines received on their recent release. The EMPEA Guidelines are a pioneering reference for policymakers and regulators wishing to understand the elements of legal and tax regimes most critical to the development of private equity in developed and… Read More

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