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AIIM Partners with Hydroneo Afrique to Develop Hydro Power Plants (Sub-Saharan Africa)
Africa-focused private equity infrastructure fund manager African Infrastructure Investment Managers (AIIM) has partnered with Hydroneo Afrique, a subsidiary of global hydro power plant equipment manufacturer MECAMIDI, to develop a pipeline of hydro power projects in Sub-Saharan Africa. AIIM and Hydroneo Afrique will establish a 50/50 joint venture to develop, finance, build, own and operate a number of small and medium… Read More
Actis Acquires a Minority Stake in South Africa-based Coricraft Group (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based home furnishings retailer Coricraft Group. Other investors in the round included Westbrooke, a South Africa-based investment group, and Coricraft Group’s management. Coricraft intends to use the new capital to expand nationally and in Sub-Saharan Africa. Financial details of the transaction, which is subject to regulatory approval,… Read More
Adenia Partners Exits Packaging Company Newpack (Sub-Saharan Africa)
Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, has exited its investment in Newpack, a Madagascar-based corrugated cardboard packaging company active in the Indian Ocean region. Adenia Partners originally invested in Newpack in June 2008, in a transaction structured through Adenia Capital (II). The exit translates into a reported return multiple… Read More
Cauris Management Exits Benin-based Eau Technologie Environnement (Sub-Saharan Africa)
West Africa-focused private equity fund manager Cauris Management has sold its stake in Benin-based mineral water bottler and distributor Eau Technologie Environnement (ETE) to Les Eaux Minérales d’Oulmès, a Morocco-based bottling and distribution company. The transaction was structured through Cauris Croissance, a fund managed by Cauris Management. The firm originally invested in ETE in 2007, and the exit reportedly generated… Read More
Convergence Partners Acquires a Minority Stake in Venture Garden Nigeria (Sub-Saharan Africa)
Africa-focused investment management firm Convergence Partners has acquired a minority stake in Nigeria-based financial technology-focused holding company Venture Garden Nigeria (VGN) for US$20 million. The transaction was structured through Convergence Partners Communications Infrastructure Fund. VGN will use the new capital to accelerate its growth plans domestically in Nigeria and across West Africa. Read More
Apis Partners’ Debut Fund Reaches a First Close with Capital Commitments (Pan-Emerging Markets)
Apis Partners, a private equity asset manager focused on financial services in Africa and South Asia, has reached a first close for Apis Growth Fund I with capital commitments of more than US$157 million. Investors in the first close included development finance institutions CDC Group, FMO and Swedfund; European Union lender European Investment Bank; and financial institutions Intesa Sanpaolo and… Read More
The Abraaj Group Invests in Turkey-based Yu-Ce Medical (CEE and CIS)
Global growth markets investor The Abraaj Group has acquired a stake in Turkey-based Yü-Ce Tıbbi Gereçler İthalat İhracat Mümessillik Sanayi ve Ticaret (Yu-Ce Medical), a medical supplies manufacturer. The transaction was structured through Abraaj’s Anatolia Growth Capital Fund. The company plans to use the funds to increase its production capacity, expand its existing sales and distribution network and enhance its… Read More
The Carlyle Group and Huo’s Group to Buy a 75 Percent Stake in Tongyi Lubricants from Shell (Asia)
Global alternative asset manager The Carlyle Group and China-based conglomerate Huo’s Group have agreed to acquire a 75 percent stake in China-based Tongyi Lubricants, a lubricant supplier founded as a joint venture of Huo’s Group and global energy company Shell, from Shell. Carlyle’s investment will be structured through Carlyle Asia Partners IV. The transaction is subject to regulatory approvals and… Read More
Macquarie Infrastructure & Real Assets Invests INR7.8 Billion in Ind-Barath Power Infra (Asia)
Global infrastructure asset manager Macquarie Infrastructure & Real Assets has invested INR7.8 billion (approximately US$122 million) in India-based power producer Ind-Barath Power Infra (IBPIL). The investment provided an exit for global private equity firm 3i Group, which originally invested in IBPIL in 2011. IBPIL will use the fresh capital to develop a thermal power project in the Indian state of… Read More
EQT Sells Singapore-based Classic Fine Foods Group to Germany-based Metro Group (Asia)
Private equity group EQT has sold Singapore-based food service distributor Classic Fine Foods Group (CFF) to Germany-based retailing company Metro Group. The transaction values CFF at an initial enterprise value of US$290 million, with an additional earn-out of up to US$38 million based on the company’s performance in 2015 to 2017. The transaction was structured through EQT Greater China II… Read More
Genesis Capital Reaches a First Close for GPEF III with EUR45 Million in Commitments (CEE and CIS)
Czech Republic- and Slovakia-focused private equity firm Genesis Capital has reached a first close for Genesis Private Equity Fund III (GPEF III) with EUR45 million (approximately US$49 million) in capital commitments. Investors in the first close included: development finance institution European Investment Fund, Czech Republic-based bank Česká spořitelna, Czech Republic-based asset manager Investment Company of Komercni banka (IKS KB), Finland-based… Read More
Livonia Partners Reaches a First Close for Its Maiden Fund with EUR70 Million (CEE and CIS)
Livonia Partners, a private equity firm focused on the Baltics, has reached a first close for its maiden fund Livonia Partners Fund I with EUR70 million (approximately US$77 million) in capital commitments. Investors in the first close included European Union lender European Investment Bank, development finance institution European Bank for Reconstruction and Development and asset manager Swedbank Investment Management. The… Read More