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Horizon Capital Invests in Ukraine-based Rozetka (CEE and CIS)
Horizon Capital, a private equity fund manager that focuses on investments in mid-cap companies in the CEE and CIS region, has invested in Ukraine-based e-commerce company Rozetka. The company will use the fresh funds to accelerate its growth by improving its products and services. Financial details of the transaction, which was structured through Emerging Europe Growth Fund II, were not… Read More
Investcorp Acquires a Majority Stake in NDT Corrosion Control Services (MENA)
Investcorp, a global alternative investment manager, has acquired a majority stake in Saudi Arabia-based NDT Corrosion Control Services (NDT CCS), a testing services company for the industrials sector. The firm acquired NDT CCS from Saudi Arabia-based industrials conglomerate Al Shuwayer Group, which founded the company and retains a minority stake. Financial details of the transaction were not disclosed. Read More
Shunwei Capital Raises US$1 Billion for Shunwei China Internet Fund III (Asia)
China-focused venture capital firm Shunwei Capital Partners has closed its third USD-denominated venture capital fund, Shunwei China Internet Fund III, with US$1 billion in capital commitments. The fund originally had a target of US$500 million and was oversubscribed. The vehicle will invest in start-ups focusing on mobile internet, intelligent hardware and rural internet. Shunwei closed its first RMB-denominated fund in… Read More
Expara Ventures’ Regional Early Stage Fund Reaches a SGD5 Million First Close (Asia)
Expara Ventures—a venture capital firm focused on interactive and digital media start-ups in Singapore, Malaysia and Thailand—has reached a first close for its second vehicle, Regional Early Stage Fund, with SGD5 million (approximately US$3.7 million) in capital commitments. The fund, which has a target of SGD30 million (approximately US$22 million), will invest up to SGD500,000 (approximately US$370,000) per transaction in… Read More
Advent International to Acquire a 30 Percent Stake in LifeMiles (Latin America)
Global private equity firm Advent International has agreed to acquire a 30 percent stake in LifeMiles, a Latin America-focused operator of an airline loyalty program, for US$343.7 million. Advent will purchase the stake from Avianca Holdings, a company that integrates several Latin American airlines under the Avianca brand. Post-transaction, Avianca Holdings will hold a 70 percent stake in LifeMiles. Read More
Shoreline Capital Closes Its Overflow Fund with US$195 Million in Capital Commitments (Asia)
Shoreline Capital Management, a fund manager focused on distressed debt and special situation investments in China, has reached a US$195 million final close for an overflow fund associated with Shoreline China Value III. While Shoreline China Value III—which held a US$500 million final close in June 2015—focuses on non-performing loans and lending to healthier companies and distressed real estate developers,… Read More
IK Investment Partners Agrees to Sell Its Remaining Stake in Agros Nova (CEE and CIS)
Pan-European private equity firm IK Investment Partners has agreed to sell the non-carbonated beverages division of Poland-based food products business Agros Nova to Polmlek Group, a Poland-based dairy company. The sale follows IK Investment’s announced divestment of Agros Nova's fruit and vegetable preserves and ready-made food operations to Poland-based juice producer Maspex Wadowice Group in December 2014. Once completed, the latest… Read More
Shoreline and Oaktree Buy US$168 Million in Non-performing Loans (Asia)
Credit-focused private equity firms Shoreline Capital Management and Oaktree Capital Group have reportedly teamed up to purchase a portfolio of non-performing loans in China for a total of US$168 million. Shoreline contributed 51 percent of the deal value, with Oaktree contributing the remaining 49 percent. The portfolio consists of loans issued to Chinese companies and typically secured by the companies' hard assets.… Read More
Value4Capital to Exit Home.pl for EUR135 Million (CEE and CIS)
Central Europe-focused private equity firm Value4Capital (V4C) has agreed to sell its stake in Poland-based Home.pl to United Internet’s subsidiary 1 & 1 Internet for a reported EUR135 million (approximately US$149 million). This translates into a reported 3.4x cash return and an IRR of over 40 percent for V4C on its investment. Home.pl is a provider of cloud-based services in… Read More
AfricInvest Fund III Reaches a Second Close (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has reached a second close for AfricInvest Fund III with commitments from private investors and development finance institutions, including a EUR20 million (approximately US$22 million) commitment from the African Development Bank. The fund, which held a first close with EUR154 million (approximately US$199 million) in capital commitments in September 2014, is targeting EUR200 million (approximately… Read More
Private Equity-backed Manpasand Beverages Completes an IPO (Asia)
India-based fruit drinks manufacturer Manpasand Beverages has listed on the Bombay Stock Exchange and the National Stock Exchange. The company floated its initial public offering (IPO) at a price range of INR290-INR320 per share (approximately US$4.56-US$5.00), raising a total of INR4 billion (approximately US$63 million). The IPO was oversubscribed by 40 percent. Manpasand Beverages is backed by venture capital firm… Read More
Fanisi Capital Invests US$6 Million in Kijenge Animal Products (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has invested US$6 million for about a 40 percent stake in Tanzania-based agro-processing company Kijenge Animal Products. The company, which is involved in maize flour milling, animal feed milling and poultry production, intends to use the capital to diversify its product offering. Read More