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CDH Investments Exits Hong Kong-listed Beijing Digital Telecom (Asia)
China-focused private equity and venture capital firm CDH Investments has sold a 21.66 percent stake in Hong Kong-listed Beijing Digital Telecom, operator of a chain of mobile phone retailers in China, for HKD367 million (approximately US$47 million) on the Hong Kong Stock Exchange. CDH originally invested in the company in 2007 in a transaction structured through CDH China Growth Capital… Read More
Hony Capital, CITIC Private Equity and Sequoia Capital Agree to Exit Happigo Home Shopping (Asia)
Private equity firms Hony Capital and CITIC Private Equity, along with venture capital firm Sequoia Capital, have agreed to exit China-listed online and TV shopping company Happigo Home Shopping via share sales on the Shenzhen Stock Exchange. Hony, CITIC and Sequoia will sell stakes of approximately 19 percent, nine percent and five percent, respectively. The investors will gradually exit their… Read More
Aqua Capital Acquires a Controlling Stake in Animal Feed Supplement Manufacturer Yes (Latin America)
Aqua Capital, a private equity firm focused on growth investments in mid-market companies in Latin America, has acquired a controlling stake in Yes, a Brazil-based manufacturer of supplements for animal feed, for a reported BRL40 million (approximately US$11 million). Yes plans to use the new capital to open two plants in São Paulo state and to expand its product line… Read More
Gaja Capital Reaches a Final Close on Gaja II with US$240 Million in Capital Commitments (Asia)
India-focused private equity firm Gaja Capital has reached a final close for its latest fund, Gaja II, with US$240 million in capital commitments. Investors in the fund included development finance institution International Finance Corporation. Gaja plans to make eight to ten investments of US$5 million to US$40 million apiece from the fund, targeting businesses established by first-generation entrepreneurs. Read More
Standard Chartered Private Equity and Goldman Sachs Invest in Vietnam-based MoMo (Asia)
Standard Chartered Bank’s private equity arm Standard Chartered Private Equity (SCPE) and investment bank Goldman Sachs have invested US$28 million in M_Service, a Vietnam-based company that operates mobile e-wallet app MoMo. SCPE contributed US$25 million to the round, while Goldman Sachs—an existing shareholder in the company—contributed US$3 million. MoMo provides e-wallet and over-the-counter remittance and payment services to a reported… Read More
Glenwood Private Equity and Baring Private Equity Asia Agree to Acquire Lafarge Halla Cement (Asia)
Private equity firms Glenwood Private Equity and Baring Private Equity Asia have agreed to acquire South Korea-based cement company Lafarge Halla Cement for an enterprise value of KRW560 billion (approximately US$469 million). Global cement company LafargeHolcim is selling the company as part of a broader global divestment program. The transaction is expected to close in the second quarter of 2016… Read More
Bain Capital Acquires a Majority Stake in Asia Pacific Medical Group for US$150 Million (Asia)
Global private equity firm Bain Capital has acquired more than a 90 percent stake in China-based hospital operator Asia Pacific Medical Group (APMG) for US$150 million. The transaction, which was structured through Bain Capital Asia Fund II and Bain Capital Asia Fund III, facilitated an exit for two existing investors: China-focused private equity firm Cathaya Capital and development finance institution… Read More
InvAscent’s India Life Sciences Fund II Invests in Biorad Medisys (Asia)
India-focused private equity firm InvAscent has invested INR500 million (approximately US$7.4 million) in India-based medical device manufacturer Biorad Medisys. The transaction was structured through India Life Sciences Fund II. Biorad Medisys, which makes orthopedic implants for knee and hip replacements and disposable surgical devices used in radiology procedures, will use the new capital for expansion and acquisitions. Read More
Flint Capital Invests EUR1 Million in Consumer Finance Company Creamfinance (CEE and CIS)
Venture capital firm Flint Capital has invested EUR1 million (approximately US$1.1 million) for a minority stake in Poland-based consumer finance services provider Creamfinance. Flint Capital is an existing investor in the company, having originally backed the company in 2014. The firm plans to support Creamfinance’s expansion into Scandinavian markets. Creamfinance uses algorithms and machine learning to offer customizable personal loans… Read More
The Abraaj Group Acquires Themis Energy to Form an Energy Development Arm (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has acquired Turkey-based Themis Energy, an Africa-focused energy project development company. Themis will form The Abraaj Group’s dedicated project development arm, supporting energy infrastructure projects from concept to operation across target markets. Financial details of the transaction were not disclosed. Read More
NewQuest Asia Fund III Reaches a First Close with More than US$500 Million in Commitments (Asia)
Direct secondaries fund manager NewQuest Capital Partners has reached a first close for its third fund, NewQuest Asia Fund III, with more than US$500 million in capital commitments. The fund, which has a hard cap of US$520 million, has already exceeded its initial target. NewQuest Asia Fund III will focus on direct secondary deals in the Asia-Pacific region. Read More
Equator Capital Partners Acquires a Minority Stake in Fortis Microfinance Bank (Sub-Saharan Africa)
Impact fund manager Equator Capital Partners has acquired a minority stake in Nigeria-based commercial lender Fortis Microfinance Bank. The transaction was structured through Equator Capital Partners’ fund ShoreCap II. Financial details of the transaction were not disclosed. Read More