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21 Concordia Reaches a Final Close for Its Debut Fund in Capital Commitments (CEE and CIS)
21 Concordia, the Poland-focused arm of private equity firm 21 Partners, has held a second and final close for its debut fund with EUR100 million (approximately US$113 million) in capital commitments. The fund focuses on investments in small and medium-sized companies with annual revenues between EUR10 million to EUR50 million (approximately US$11 million to US$56 million). The fund began investing… Read More
TPG/Satya to Invest MAD250 Million in Morocco-based Ecoles Yassamine (MENA)
TPG/Satya–the Africa-focused partnership between TPG’s middle market and growth equity platform TPG Growth and Africa-focused, independent investment firm Satya Capital –has agreed to invest a reported MAD250 million (approximately US$26 million) for a minority stake in Morocco-based private school network Ecoles Yassamine. The company intends to use the new capital to grow its network of schools and expand its educational… Read More
Warburg Pincus, Legend Capital and CAR to Invest US$550 Million in UCAR Group (Asia)
Global private equity firm Warburg Pincus, Legend Holdings' independent venture capital unit Legend Capital and China-based auto car rental company CAR are participating in a US$550 million Series B funding round for UCAR Group, a China-based mobile taxi booking service provider. Warburg Pincus, Legend Capital and CAR are existing shareholders of the company. CAR will invest US$50 million, while Warburg… Read More
Advent International to Acquire Stake in Diagnostic Services Provider Fleury (Latin America)
Global private equity investor Advent International has agreed to acquire a 13 percent stake in Fleury, a Brazil-based diagnostic services provider, from a group of physicians. The transaction is subject to closing conditions and is expected to be completed in the fourth quarter of 2015. Financial details of the transaction were not disclosed. Read More
Blackstone to Acquire a Majority Stake in Serco’s India-based BPO Unit for GBP250 Million (Asia)
Global investment firm Blackstone has agreed to acquire a majority stake in the India-based business process outsourcing (BPO) unit of global public services provider Serco for GBP250 million (approximately US$385 million). Post-acquisition, the unit will be rebranded as “Intelenet Global Services.” The sale is expected to be completed in the coming months, subject to customary closing conditions and approvals. Read More
Everstone Capital Partners III Reaches a Final Close with US$730 Million in Commitments (Asia)
India- and Southeast Asia-focused private equity and real estate investment firm The Everstone Group has closed its third India-focused private equity fund, Everstone Capital Partners III, with US$730 million in capital commitments. Limited partners in the fund, which included public pensions, insurance companies, endowments and asset managers, committed US$700 million to the fund, while Everstone and its affiliates committed the… Read More
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