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Actis Exits Globeleq Africa to CDC Group and Norfund (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has sold its stake in Globeleq Africa, a manager of electricity-generating assets across Cameroon, Tanzania, Côte d’Ivoire, Kenya and South Africa, to a company owned by development finance institutions CDC Group and Norfund. Through the transaction, Norfund acquired a 30 percent stake in Globeleq Africa for US$227 million, while CDC—already a majority indirect shareholder… Read More
ThomasLloyd Group Sells Philippines-based Negros Island Solar Power to Macquarie-managed PINAI(Asia)
ThomasLloyd Group, a global investment and advisory firm focused on the renewable energy sector in Asia, has sold Philippines-based solar power generation company Negros Island Solar Power to Philippine Investment Alliance for Infrastructure (PINAI), a fund managed by Macquarie Infrastructure Management (Asia), a member of Macquarie Infrastructure and Real Assets. The transaction was structured through ThomasLloyd SICAVSIF-Cleantech Infrastructure Fund. Financial… Read More
Wamda Capital, Dubai Silicon Oasis Authority and STC Ventures Participate in a Round (MENA)
STC Ventures, a Saudi Arabia-focused venture capital fund anchored by the Saudi Telecom Company, has led a US$3 million Series A financing round for United Arab Emirates-based Compareit4me, a price comparison site for financial products. Additional investors in the round included MENA-focused venture capital firm Wamda Capital and Government of Dubai free zone and technology park operator Dubai Silicon Oasis… Read More
Creador III Reaches a First Close with US$250 Million in Capital Commitments (Asia)
Creador, a private equity firm focused on Indonesia, Malaysia, Singapore and India, has reached a first close for Creador III, the firm’s third fund, with US$250 million in capital commitments. About 80 percent of the capital committed in the first close came from Creador’s existing LPs. The fund, which has a target of US$450 million, will have a similar geographic… Read More
J.C. Flowers Agrees to Acquire a 25 Percent Stake in Banca Comercială Carpatica (CEE and CIS)
Global private equity firm J.C. Flowers has agreed to acquire a 25 percent stake in Romania-based lender Banca Comercială Carpatica from existing shareholders. The transaction will be structured through J.C. Flowers III. J.C. Flowers additionally expressed interest in subscribing to a private placement in the company to further increase its shareholding. Financial details of the transaction, which is subject to… Read More
Jungle Ventures Holds a First Close on its Second Fund (Asia)
Southeast Asia- and India-focused venture capital firm Jungle Ventures has reached a first close on its second fund, Jungle Ventures II. The fund, which has a target of US$100 million, will focus on Series A financing rounds and later stage investments, with ticket sizes ranging from US$3 million to US$5 million. The amount of capital committed in the first close… Read More
InvAscent’s India Life Sciences Fund II Invests INR1 Billion in Sunshine Hospitals (Asia)
India-focused private equity firm InvAscent has invested INR1 billion (approximately US$15 million) in India-based Sarvejana Healthcare, operator of hospital chain Sunshine Hospitals. The transaction was structured through India Life Sciences Fund II, a fund managed by InvAscent. As part of the company’s expansion plans in India, Sunshine Hospitals will use the new capital to seek long-term real estate leases and… Read More
The Carlyle Group Buys a 37 Percent Stake in India-based Metropolis Healthcare (Asia)
Global alternative asset manager The Carlyle Group has bought a 37 percent stake in Metropolis Healthcare, an India-based pathology laboratory service provider, from company shareholder Dr. GSK Velu and his affiliates. Financial details of the transaction, which was structured through Carlyle Asia Partners IV, were not disclosed. Read More
AfricInvest Exits Kenya-based Brookhouse Schools (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has sold its stake in Kenya-based private school company Brookhouse Schools to United Kingdom-based education-focused investment firm Educas. The transaction was structured through AfricInvest Fund II, which initially invested in the company in 2010. Financial details of the transaction were not disclosed. Read More
MBK Partners, CPPIB, PSPIB and Temasek Holdings to Acquire Homeplus for US$6.1 Billion (Asia)
A consortium of investors led by North Asia-focused private equity firm MBK Partners has agreed to acquire Homeplus, the South Korea-based subsidiary of United Kingdom-based retailer Tesco, for GBP4 billion (approximately US$6.1 billion) in cash. The consortium also includes Canadian pension funds Canada Pension Plan Investment Board (CPPIB) and Public Sector Pension Investment Board (PSPIB), as well as Singaporean sovereign… Read More
STIC Investments and Korea’s NPS to Support CJ Korea Express’s Acquisition of Rokin Logistics (Asia)
Pan-Asia private equity firm STIC Investments and Korea’s National Pension Service (NPS) have agreed to support Korea-based logistics company CJ Korea Express’s acquisition of a majority stake in China-based logistics company Rokin Logistics. The total transaction amount will be KRW455 billion (approximately US$378 million). STIC and NPS will structure their investment through STIC CJ Global Investment Partnership, a fund sponsored… Read More
Baring Vostok Capital Partners and Capital Group Private Markets Exit Europlan (CEE and CIS)
Russia and CIS-focused private equity firm Baring Vostok Capital Partners and global private equity firm Capital Group Private Markets have fully exited their stakes in Russia-based auto leasing company Europlan as part of Russia-based lender B&N Bank’s 100 percent acquisition of the company. Capital Group’s exit was structured through Capital International Private Equity Fund IV. Financial details of the transaction… Read More