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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
LeapFrog Investments and Prudential Financial Launch an Investment Vehicle (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments and global insurance company Prudential Financial have launched a US$350 million investment vehicle targeting life insurance companies in Africa. The vehicle, which will be managed by LeapFrog, will invest in markets including Ghana, Kenya and Nigeria over a three- to five-year period. Read More
LitCapital Exits Its 33.3 Percent Stake in Plastic Bottle Manufacturer Putokšnis (CEE and CIS)
Lithuania-focused growth capital firm LitCapital has sold its 33.3 percent stake in Lithuania-based plastic bottle manufacturer Putokšnis to 3 Rill, a holding company owned by Putokšnis’s chairman and majority shareholder Alvydas Stulpinas. LitCapital originally invested in the company in June 2011 through its fund LitCapital I. Financial details of the transaction were not disclosed. Read More
Apis Partners Invests in India-based Electronic Payment and Services (Asia)
Apis Partners, a private equity asset manager focused on financial services in Africa and Asia, has acquired a minority stake in Electronic Payment and Services (EPS), an India-based ATM outsourcing and payments company. Apis has reportedly agreed to invest US$35 million in the company, of which US$25 million was paid in an initial tranche. The transaction was structured through Apis… Read More
Omidyar Network Invests US$5 Million in Mobile Software Developer Indus OS (Asia)
Philanthropic investment firm Omidyar Network has led a US$5 million Series A financing round for India-based mobile software developer Indus OS. The company, which produces software to make smartphones compatible with several local languages and more user-friendly for India’s rural population, will use the new capital to build out its software, grow its team and expand internationally. Read More
Affinity to Sell Its Majority Stake in Digital Music Company Loen Entertainment to Kakao (Asia)
Asia-focused private equity firm Affinity Equity Partners has agreed to sell its 61.4 percent stake in South Korea-listed digital music company Loen Entertainment to South Korea-listed media company Kakao, as part of Kakao’s acquisition of a 76.4 percent stake in the company for US$1.6 billion. As part of the deal, Affinity will reportedly receive US$748 million in cash as well… Read More
Bridgepoint Acquires Poland-based Smyk (CEE and CIS)
International private equity group Bridgepoint has acquired Poland-based children’s apparel and toy retailer Smyk in a transaction totaling EUR247 million (approximately US$269 million), including debt, from Poland-listed retail company Empik Media & Fashion. Cornerstone Partners, a Poland-based private equity firm, also participated in the deal and acquired a minority stake in Smyk. Bridgepoint’s portion of the transaction was structured through… Read More
Azura-Edo Independent Power Project Reaches a US$876 Million Financial Close (Sub-Saharan Africa)
West Africa-focused principal investment firm Amaya Capital and Nigeria-based power development company Azura Power have reached a US$876 million financial close for the Azura-Edo Independent Power Project (IPP), a 450MW gas-fired open cycle power plant in Nigeria. The financing for the Azura-Edo IPP involved US$190 million in equity and US$686 million in debt from a consortium of local and international… Read More