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Ascent Capital Africa Raises KES8 Billion for Ascent Rift Valley Fund (Sub-Saharan Africa)
East Africa-focused private equity firm Ascent Capital Africa has reached a final close for Ascent Rift Valley Fund with more than KES8 billion (approximately US$76 million) in capital commitments, exceeding the initial target of KES6 billion (approximately US$57 million). The fund invests in Kenya, Uganda and Ethiopia. Local pension funds Kenya Power Pension Fund and Nation Media Group Pension Fund… Read More
Amethis Finance, DEG, Swedfund and FMO Provide a Loan to Ecobank Nigeria (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and development finance institutions DEG, Swedfund and FMO have provided a US$75 million syndicated subordinated term loan to commercial bank Ecobank Nigeria. Amethis invested US$15 million, while DEG and Swedfund invested US$20 million and US$10 million, respectively. FMO, which arranged the loan, invested US$30 million.… Read More
SSG Capital Management Reaches a US$325 Million Final Close for Its Fourth Fund (Asia)
Asia-focused asset management firm SSG Capital Management has reached a final close for its fourth fund, SSG Capital Partners IV, with US$325 million in commitments. The fund focuses on higher grade secured private lending to corporations in Asia, rather than the distressed debt strategy of SSG’s previous funds. Read More
The Abraaj Group Raises MXN3.2 Billion with Aditya Birla Group (Asia, Latin America)
Global growth markets investor The Abraaj Group has closed on the issuance of MXN3.2 billion (approximately US$191 million) of Mexican publically traded certificates, or CKD (Certificado de Capital de Desarrollo). The Mexico-focused CKD will invest in mid-sized businesses in the retail, consumer goods, healthcare, education, logistics and financial services sectors. Separately, Abraaj has partnered with Aditya Birla Group, an India-based… Read More
Anchor Equity Partners Reaches a Final Close for Its Second Fund (Asia)
South Korea-focused Anchor Equity Partners has reached a final close for its second fund with US$850 million in capital commitments. The fund, which focuses on buyout, growth capital and industry consolidation opportunities, surpassed its target of US$750 million. Read More
Gaja Capital Invests INR650 Million in SportzVillage (Asia)
India-focused private equity firm Gaja Capital has invested INR650 million (approximately US$9.9 million) in India-based Junior Sports and Services, operator of sports and fitness education company SportzVillage. The transaction was structured through Gaja Capital III. The company plans to use the new capital to expand its operations within India. Read More
RRJ Capital Master Fund III Reaches a Final Close with US$4.5 Billion in Capital Commitments (Asia)
Asia-focused private equity firm RRJ Capital has reached a final close for its third fund, RRJ Capital Master Fund III, with US$4.5 billion in capital commitments. The fund invests globally, with an emphasis on China and Southeast Asia. A series of pension funds committed to the fund, including: US$150 million each from New Jersey Division of Investment and Oregon Public… Read More
Helios Investment Partners Provides a Debt Facility (Sub-Saharan Africa)
Africa-focused private investment firm Helios Investment Partners has provided a debt facility to Nigeria-based marine logistics company Starzs Investments Company. Starzs has made an initial drawdown of the debt facility to acquire MV Varada Queen, a terminal tugboat that Starzs has been operating on a lease-purchase agreement since 2013. Financial details of the transaction were not disclosed. Read More
Capitalworks Acquires a Majority Stake in Robertson and Caine for US$25 Million (Sub-Saharan Africa)
Sub-Saharan Africa-focused alternative asset management firm Capitalworks has acquired a majority stake in South Africa-based boat manufacturer Robertson and Caine for US$25 million. The investment was made alongside Robertson and Caine co-founder John Robertson. The transaction was structured through Capitalworks Private Equity Fund II. Read More
Ecus Private Equity Exits Chile-based Albia to Elis (Latin America)
Chile-focused fund manager Ecus Private Equity has sold its stake in Chile-based laundry company Albia to Elis, a multi-services group based in Europe and Brazil that specializes in the rental and maintenance of professional clothing and textile articles. Albia operates eight laundry facilities in Chile and has commercial clients in the healthcare, hospitality and mining industries. Financial details of the… Read More
Parag Milk Foods Raises INR600 Million in Pre-IPO Funding from IDFC Alternatives (Asia)
India-based dairy company Parag Milk Foods has raised INR600 million (approximately US$9 million) in a pre-initial public offering (IPO) financing round from existing investor IDFC Alternatives, an India-focused private equity firm. IDFC subscribed to 60 million convertible debentures at INR10 (approximately US$0.14) apiece. The transaction, which was structured through IDFC’s S.P.I.C.E. Fund, is subject to a one year lock-up period. Read More
The Abraaj Group Invests US$100 Million in Egypt-based Tiba Group (MENA)
Global growth markets investor The Abraaj Group has invested a reported US$100 million in Egypt-based education service provider Tiba Group. The transaction was structured through Abraaj North Africa Fund II. The company will use the funds to enhance its curricula, upgrade its facilities, increase enrollment and expand its partnerships. Read More