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KKR Sells Its Remaining Stake in Masan Consumer to Parent Company Masan Group (Asia)
Global investment firm KKR has sold its remaining stake in Vietnam-based food and beverage company Masan Consumer to parent entity Masan Group. Masan Group’s agreement with Thailand-based beer producer Singha Asia to create a combined food and beverage platform facilitated KKR’s exit. KKR reportedly generated a return of more than 2x on its investments, which included a US$159 million investment… Read More
The Tigris Water Fund Reaches a First Close with US$110 Million in Capital Commitments (Asia)
The Tigris Water Fund, an Asia-focused growth capital fund co-managed by global infrastructure firms Odyssey Capital and Macquarie Capital, has reached a first close with US$110 million in capital commitments. Investors included development finance institution FMO, Japanese-based engineering consulting company Nippon Koei and Eastspring Investments, the Asian asset management business of Prudential. The Tigris Water Fund, which has a target… Read More
Convergence Launched as a Deal Sourcing Platform for Blended Finance Investments
Convergence, a deal sourcing platform for blended finance investments, was launched in January 2016. The platform, which has funding from the Government of Canada and Citi Foundation, intends to connect private, public and philanthropic investors with one another for co-investment opportunities in blended finance deals in emerging and frontier markets. Convergence will also provide grants to finance the design of… Read More
SI Ventures, Digital Media Partners and 500 Startups Participate in a Series A Round (Asia
LeapFrog Investments Acquires a Majority Stake in UT Life Insurance Company (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments has acquired a majority stake in Ghana-based life insurance provider UT Life Insurance Company (UT Life). UT Life operates nine branches across Ghana. Financial details of the transaction were not disclosed. Read More
Proterra Investment Partners Agrees to Invest US$45 Million in Future Consumer Enterprise (Asia)
Global asset management company Proterra Investment Partners, formerly known as Black River Asset Management, has agreed to invest US$45 million for a combination of compulsorily convertible debentures and equity shares in India-listed Future Consumer Enterprise, the food and consumer goods arm of Future Group. The transaction was structured through Black River Food Fund 2. Future Consumer plans to use the… Read More
Schulze Global Investments Acquires Stake in Ethiopia-based Dairy Producer MB (Sub-Saharan Africa)
Frontier markets-focused private equity firm Schulze Global Investments has acquired a 45 percent stake in Ethiopia-based dairy producer MB, which operates the brand Family Milk. With Schulze Global Investment’s support, MB intends to expand its Family Milk brand. Financial details of the transaction were not disclosed. Read More
Ethos Private Equity Acquires a Majority Stake in The Eazi Group (Sub-Saharan Africa)
South Africa-focused private equity fund manager Ethos Private Equity has acquired a 65 percent stake in South Africa-based industrial equipment and services company The Eazi Group in a deal valued at ZAR1.6 billion (approximately US$97 million). The transaction was structured through Ethos Fund VI. Separately, Ethos has sold its entire stake in CQS Investment Holdings, a South Africa-based distributor of… Read More
Investcorp Acquires a Minority Stake in Supermarket Operator Bindawood Holding (MENA)
Investcorp, a global alternative investment manager, has acquired a minority stake in Saudi Arabia-based supermarket and hypermarket company Bindawood Holding. Bindawood intends to expand its business in Saudi Arabia, with plans to open more than 30 hypermarkets and supermarkets in coming years. Financial details of the transaction were not disclosed. Read More
CITIC Capital Leads a CNY230 Million Funding Round for Baofeng Mojing (Asia)
CITIC Capital Partners, the private equity arm of CITIC Capital, has led a CNY230 million (approximately US$35 million) financing round for China-based virtual reality headset manufacturer Baofeng Mojing. China-based gaming company Tianshen Hudong and an investment fund launched by Baofeng Mojing’s parent company Baofeng Technology also participated in the round, along with the following existing investors: film production company Huayi… Read More
Hony Capital Fund VIII Reaches a US$1 Billion First Close (Asia)
China-focused private equity fund manager Hony Capital has reached a first close for Hony Capital Fund VIII with US$1 billion in capital commitments. The vehicle, which has a total target of US$2 billion, comprises pools of capital for both US dollar and Chinese renminbi and aims to raise US$1 billion for each pool. The two pools will then invest in… Read More
BaltCap Sells Wind Farms in Lithuania and Estonia to Lietuvos Energija (CEE and CIS)
BaltCap, a private equity and venture capital firm focused on the Baltic countries, has exited the 18MW Tuuleenergia wind farm in Estonia and the 24MW Eurakras wind farm in Lithuania. The wind farms were acquired by Lithuanian state-owned energy group Lietuvos Energija. The total transaction amount, which included the buyout of BaltCap’s co-investors, was EUR28 million (approximately US$31 million) for a… Read More