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Global Environment Fund Buys Stake in Tecverde Engenharia for BRL20 Million (Latin America)
Global alternative asset manager Global Environment Fund has invested BRL20 million (approximately US$5 million) in Brazil-based engineering company Tecverde Engenharia for a 35 percent to 40 percent stake. Tecverde produces building materials used in home construction. Read More
Gulf Capital Reaches a First Close for Gulf Credit Opportunities Fund II (MENA, Sub-Saharan Africa)
Middle East-focused alternative asset manager Gulf Capital has reached a first close for its second credit and mezzanine fund, Gulf Credit Opportunities Fund II, with US$175 million in capital commitments. The fund, which has a target of US$250 million and hard cap of US$300 million, will provide financing to mid-market companies operating in the Middle East, North Africa, Turkey and… Read More
Olympus Capital Asia Invests US$30 Million in CreditAccess Asia (Asia)
Asia-focused middle market private equity firm Olympus Capital Asia has agreed to invest at least US$30 million in CreditAccess Asia, an Asia-focused microfinance operator active India and Southeast Asia. CreditAccess Asia plans to use the new capital to expand its retail lending operations across Asia. Read More
Highlander Partners Acquires a Majority Stake in QFG and Exits MEDI-system (CEE and CIS)
North America- and Central Europe-focused private equity firm Highlander Partners has acquired a 60 percent stake in QFG, a Poland-based producer of meat products for convenience food retailers. The company plans to use the new funds to increase its production capacity. Separately, Highlander Partners has sold a 50 percent stake in Poland-based long-term dependency care provider MEDI-system to ORPEA, a… Read More
PAG Asia Capital Reaches a US$3.6 Billion Final Close for PAG Asia II (Asia)
PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has reached a final close for its second Asia-focused buyout fund, PAG Asia II, with US$3.6 billion in capital commitments. The fund, which was oversubscribed, will target major markets in Asia with a focus on buyout opportunities. Read More
Black River Asset Management Acquires Brazil-based Sugarcane Mills (Latin America)
Global asset management company Black River Asset Management has completed the purchase of two Brazil-based sugarcane mills from Brazil-based sugar and ethanol company Ruette Group. The deal totaled BRL830 million (approximately US$209 million), including BRL530 million (approximately US$134 million) in debt financing. The transaction was structured through Black River Agriculture Fund 2. Read More
Sequoia Capital Leads an INR400 Million Series A Financing Round for B9 Beverages (Asia)
Venture capital firm Sequoia Capital has led an INR400 million (approximately US$6 million) Series A financing round for India-based craft brewery B9 Beverages, which markets the brand Bira 91. A number of angel investors also participated in the round. The company intends to use the new capital for marketing and for establishing a new plant in the Indian state of… Read More
Actis Agrees to Exit Its Stake in Guatemala-based Energuate to I.C. Power (Latin America)
Pan-emerging markets private equity firm Actis has agreed to sell Guatemala-based private electricity distribution company Energuate to I.C. Power, a developer and operator of power generation facilities in Latin America, for US$229.5 million. I.C. Power will acquire the company from Deorsa-Deocsa Holdings, an investment company of Actis. The acquisition is subject to customary closing conditions and is expected to close… Read More
Mid Europa Partners Agrees to Sell Bité Group to Providence Equity Partners (CEE and CIS)
Mid Europa Partners, a private equity firm focused on Central and Eastern Europe and Turkey, has agreed to sell Bité Finance International (Bité Group), a mobile operator focused on the Baltic countries, to global private equity firm Providence Equity Partners. Bité Group provides a range of mobile services, internet access and data services for business and residential customers, primarily in… Read More
KKR Agrees to Create a Global Oil and Gas Services Platform (Global)
Global investment firm KKR has agreed to pursue acquisitions and investment opportunities by establishing a platform to provide asset management services to the oil and gas industry globally. KKR’s investment in the platform will be made primarily by the KKR Asian Fund II. The platform aims to become an integrated services provider for engineering, maintenance, repair and overhaul services for… Read More
IDFC Alternatives Buys a 37 Percent Stake in Dewas Bhopal Corridor (Asia)
India-focused private equity firm IDFC Alternatives has agreed to purchase a 37 percent stake in India-based highway operator Dewas Bhopal Corridor from India-based infrastructure company Welspun Enterprises at an enterprise value of INR6.6 billion (approximately US$100 million). The transaction, which was structured through India Infrastructure Fund II, includes a contingent deferred consideration of INR340 million (approximately US$5.1 million) and a… Read More
Zephyr Peacock India, Omidyar Network, Aavishkaar and I3N Invest in Swarna Pragati Housing (Asia)
India-based housing microfinance lender Swarna Pragati Housing has raised a Series B financing round from India-focused private equity firm Zephyr Peacock India, philanthropic investment firm Omidyar Network, impact fund advisory firm Aavishkaar and angel network Intellecap Impact Investment Network (I3N). The round was worth a reported INR1 billion (approximately US$15 million), and together the investors acquired about a 15 percent… Read More