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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
NDE Capital Holds a US$107 Million First Close for NDE Capital II (Asia)
ASEAN-focused private equity firm NDE Capital has held a first close on its second fund, NDE Capital II, with US$107 million in capital commitments. The fund, which has a US$350 million hard cap, will allocate 60 percent of its capital to investments in China and 40 percent to investments in Indonesia. Investors in the first close included funds of funds… Read More
Capital Group and Ping An Ventures Participate in a US$2 Billion Round for Didi Kuaidi (Asia)
China-based Didi Kuaidi, a taxi-hailing app operator, has raised a US$2 billion financing round from a group of investors that included global private equity firm Capital Group Private Markets and the venture capital arm of China-based Ping An Insurance, Ping An Ventures. Capital Group invested around US$350 million in the round. The latest funding round values the company at a… Read More
Xiaozhu.com Raises US$60 Million from Joy Capital, Morningside, CITIC Capital and Magic Stone (Asia)
China-based Xiaozhu.com, a short-term home-rental platform, has raised a US$60 million Series C financing round led by Joy Capital, a venture capital spinout from Legend Capital. Private investment group Morningside Technologies, China-focused private equity firm CITIC Capital and China-focused fund of funds and secondary investor Magic Stone Alternative Investments also participated in the round. Xiaozhu.com was launched in 2012 and… Read More
Metier Exits South Africa-based Property Redeveloper and Manager South Point (Sub-Saharan Africa)
Metier, a private equity and alternative asset management firm, has sold its stake in South Point, a South Africa-based company that redevelops distressed urban properties to provide accommodation to students and unemployed graduates. The Unemployment Insurance Fund, managed by South Africa’s Public Investment Corporation, acquired the company in June. Metier had originally invested in the company through the Lereko Metier… Read More
Tata Capital Growth Fund Leads a Series B Financing Round for Nearex (Asia)
Tata Capital Private Equity, the private equity arm of Indian conglomerate Tata Group, has led a Series B financing round for Singapore-based mobile payments start-up Nearex. The transaction was structured through Tata Capital Growth Fund. Nearex specializes in mobile payments and mobile points of sale systems for emerging markets, and has been pilot testing in Tanzania and Zimbabwe. Financial details… Read More
The Abraaj Group Acquires a Majority Stake in Mouka from Actis (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has acquired a majority stake in Nigeria-based mattress manufacturer Mouka from pan-emerging markets private equity firm Actis and the company’s founding Moukarim family, which will retain a minority stake. Actis originally invested in the company in 2007. Abraaj and the Moukarim family will focus on expanding Mouka’s product line into adjacent categories within… Read More
CITIC Capital, Tencent and Wanda Join an RMB6 Billion Financing Round for Tongcheng (Asia)
A consortium that includes China-focused private equity firm CITIC Capital, Chinese investment holding company Tencent’s Tencent Collaboration Fund and China-based Dalian Group’s media and arts subsidiary Wanda Culture Industry Group has participated in an RMB6 billion (approximately US$967 million) financing round for China-based Tongcheng Network Technology. Tongcheng, also known as LY.com, is an online travel service provider in China. The financing round reportedly… Read More