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Gulf Capital to Provide Debt Financing to Carbon Holdings (MENA)
Middle East-focused alternative asset manager Gulf Capital has signed a debt financing agreement to support Egypt-based petrochemicals holding company Carbon Holdings. Gulf Capital will provide an AED92 million (approximately US$25 million) convertible, five-year loan facility to finance the development and expansion of three of Carbon Holdings’ petrochemical projects: a mining grade ammonium nitrate plant, a polypropylene production plant and a… Read More
Lone Star Increases Its Stake in Globe Trade Centre (CEE and CIS)
Global private equity firm Lone Star has increased its stake in Poland-based real estate developer Globe Trade Centre (GTC) from 32.5 to 55.2 percent via a tender offer, with the intention of eventually raising its holding to 66 percent. Lone Star, which offered PLN6.1 (approximately US$1.63) per GTC share until 22 May, reduced its offer price to PLN5.5 (approximately US$1.47)—below… Read More
GP Investments and GTIS Partners Conclude US$400 Million Brazil Hospitality Group (Latin America)
GTIS Partners, a real estate private equity firm, and GP Investments, an alternative investments firm in Latin America, have concluded a US$400 million take-private of Brazil-listed hotel operator Brazil Hospitality Group (BHG). The deal gave GTIS Partners an approximately 70 percent stake in the newly-private company, with the remainder of the shares owned by GP Investments. BHG owns and operates… Read More
Warburg Pincus Completes a Follow-on Investment in Mofang Gongyu (Asia)
Global private equity firm Warburg Pincus has completed a follow-on investment in China-based apartment developer Mofang Gongyu, committing nearly US$200 million across two rounds of funding. Warburg Pincus originally invested US$60 million in Mofang in a Series B financing round in 2013. Mofang intends to open 100 buildings through a franchising model this year, providing community facilities and services for young… Read More
Vinci Partners Fully Exits Equatorial Energia for BRL700 Million (Latin America)
Brazil-focused alternative investment and asset management firm Vinci Partners has sold its remaining 10.5 percent stake in Brazil-listed energy holding company Equatorial Energia for BRL700 million (approximately US$231 million). Vinci had previously exited a ten percent stake in the company in February 2015. Read More
Piton Capital and Vostok Nafta Investment Lead a US$6.5 Million Round for Naseeb Networks (MENA)
International investment companies Piton Capital and Vostok Nafta Investment have led a US$6.5 million Series C round for Naseeb Networks, a Pakistan-based operator of online employment marketplaces with a focus on emerging markets. The company will use the new funding to accelerate its growth in target markets. Read More
NYLIM Jacob Ballas India Partially Exits PNC Infratech via IPO (Asia)
NYLIM Jacob Ballas India, a vehicle co-owned by New York Life Insurance Company and private equity advisory firm Jacob Ballas Capital India, has partially exited its stake in India-based infrastructure construction company PNC Infratech via an initial public offering (IPO) on the Bombay Stock Exchange and National Stock Exchange. Jacob Ballas sold 1.4 million shares at an issue price of… Read More
Standard Chartered Private Equity Invests US$42 Million in Omni Centre (Asia)
Standard Chartered Private Equity (SCPE), the private equity arm of Standard Chartered Bank, has invested US$42 million to acquire a 45 percent stake in Indonesia-based Omni Centre, a newly formed retail electronics joint venture with investment manager TT International. SCPE’s capital injection will help finance the joint venture’s consumer electronic retail stores and online expansion across Southeast Asia. Read More
Pembani Remgro Infrastructure Fund Reaches a US$245 Million First Close (Sub-Saharan Africa)
Pembani Remgro Infrastructure Fund—a joint initiative established by investment holding company Remgro and Pembani Group chairman Phuthuma Nhleko—has reached a first close with US$245 million in capital commitments. In addition, the fund has received a further commitment equal to 20 percent of the fund size, capped at US$100 million, from the Overseas Private Investment Corporation, a development finance institution. The… Read More
IFC and AMC Support the Expansion of China Tian Lun Gas with a US$150 Million Investment (Asia)
International Finance Corporation (IFC), a member of the World Bank Group, and IFC Asset Management Company (AMC), a wholly-owned subsidiary of IFC, have each invested US$75 million in Hong Kong-listed gas supplier China Tian Lun Gas Holdings, for a total investment of US$150 million. AMC’s transaction was structured through its IFC Global Infrastructure Fund. Tian Lun Gas intends to use… Read More
KKR Completes US$400 Million Investment in Fujian Sunner Development (Asia)
Global investment firm KKR has completed a US$400 million investment in China-listed chicken meat producer Fujian Sunner Development, acquiring an 18 percent stake in the company. Since the investment was first announced in August 2014, Sunner reports that it has been selected as one of the five local‐market direct suppliers—and the only Chinese supplier—of chicken meat to McDonald’s. Through the… Read More
Tribeca Fully Exits Termocandelaria Power (Latin America)
Colombia-focused private equity fund manager Tribeca has fully exited its stake in Termocandelaria Power (TPL), a Colombia-based thermal energy generation company. Tribeca initially invested in TPL in 2009 and 2010, and held a 60.8 percent stake in the company. The firm’s exit resulted in a reported cash multiple of 2.2x and an annual IRR of 17%. Financial details of the… Read More