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Platinum Equity Acquires Ying Shing Enterprises (Asia)
Global investment firm Platinum Equity has acquired a majority stake in Ying Shing Enterprises from the company’s founder, who will remain a minority shareholder. Ying Shing is a China-based manufacturing solutions provider for customized precision-engineered plastic injection molded and metal stamping components. Platinum Equity intends to expand the business through both organic growth and strategic acquisitions. Financial details of the… Read More
New Silk Route Growth Capital Partially Exits VRL Logistics via IPO (Asia)
India-based goods and passenger transport services provider VRL Logistics has completed an IPO on the Bombay Stock Exchange and National Stock Exchange, which included a fresh issue of shares as well as exits for promoters of the company and New Silk Route Growth Capital (NSR), an Asia-focused growth capital firm. NSR sold 14.6 million shares for the issue price of… Read More
TPG Growth Fund III Closes with More Than US$3 Billion in Capital Commitments (Global)
TPG Growth, the middle market and growth equity investment platform of global private investment firm TPG, has reached a final close for TPG Growth Fund III with more than US$3 billion in capital commitments. The fund, which surpassed its initial target of US$2.75 billion, has an investor base including public and private pension funds, foundations and endowments, insurance companies and… Read More
The Carlyle Group to Invest BRL1.75 Billion in Hospital Operator Rede D’Or São Luiz (Latin America)
Global alternative asset manager The Carlyle Group has agreed to invest a reported BRL1.75 billion (approximately US$592 million) for an 8.3 percent stake in Brazil-based hospital operator Rede D’Or São Luiz. The investment will be structured through Carlyle Partners VI and Carlyle’s South American buyout funds, including Fundo Brasil de Internacionalizacão de Empresas FIP II, a local fund advised by… Read More
Investec Bank Leads an US$84 Million Round for Lending Platform Jimubox (Asia)
Specialist bank and asset manager Investec Bank has led an US$84 million Series C funding round for China-based peer-to-peer online lending platform Jimubox, with participation from Haitong Kaiyuan, the private equity arm of Haitong Securities. Mandra Capital and Zhong Capital Fund, along with existing investors Matrix China Partners, Xiaomi, Shunwei Capital Partners, Ventech China and Magic Stone Alternative, also took… Read More
Advent International to Lead the Acquisition of a 34 Percent Stake (Asia)
Global private equity firm Advent International, in partnership with Singaporean sovereign wealth fund Temasek Holdings, has agreed to acquire a 34 percent stake in the consumer products business of India-based conglomerate Crompton Greaves for a reported INR20 billion (approximately US$316 million). Crompton Greaves Consumer Electricals (CGCEL) manufactures and markets fans, light fixtures, residential water pumps and other household appliances. The… Read More
Aqua Capital to Acquire Fertilizer Producer Dimicron (Latin America)
Aqua Capital, a South America-focused private equity fund manager specializing in agribusiness, has agreed to acquire a controlling interest in Brazil-based fertilizer producer Dimicron. The company will be merged with Aqua Capital’s existing portfolio company Aminoagro, a micronutrient fertilizer manufacturer which it acquired in 2013, and both the Aminoagro and Dimicron brands will be maintained. Financial details of the transaction… Read More
Hony Capital Fully Exits Chinasoft International in an US$170 Million Share Sale (Asia)
China-focused private equity fund manager Hony Capital has fully exited its investment in Chinasoft International, a China-based software and information services provider listed on the main board of the Hong Kong Stock Exchange. Hony sold 335 million shares at HKD3.93 (approximately US$0.51) apiece to a group of buyers including insurance funds, mutual funds and global asset management groups, for total… Read More
AFIG Funds’ Atlantic Coast Regional Fund Invests in Primrose Properties Ghana (Sub-Saharan Africa)
Advanced Finance & Investment Group (AFIG Funds), a Sub-Saharan Africa-focused investment fund management company, has completed an investment in real estate development company Primrose Properties Ghana. Primrose will use the investment to fund a pipeline of commercial, residential and mixed-use property development projects. Financial details of the transaction, which was structured through AFIG Funds’ Atlantic Coast Regional Fund, were not… Read More
PAG to Acquire Toy Robot Maker Young Toys from Headland Capital Partners (Asia)
PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has agreed to wholly acquire South Korea-based toy robot manufacturer Young Toys for KRW220 billion (approximately US$203 million). PAG will acquire a 96.5 percent stake held by Asia-focused private equity fund manager Headland Capital Partners, which first invested in Young Toys in 2012, and a 3.5… Read More
Verod Capital Acquires Union Trustees via Management Buyout (Sub-Saharan Africa)
Nigeria-focused private equity firm Verod Capital has acquired trust and asset management services company Union Trustees, a fully-owned subsidiary of Union Bank of Nigeria, in partnership with company management. Financial details of the transaction, which was structured through Verod Capital’s Fund II, were not disclosed. Read More
The Carlyle Group Exits Claris Lifesciences (Asia)
Global alternative asset management firm The Carlyle Group has exited its investment in India-based pharmaceuticals company Claris Lifesciences via an open market sale on the Bombay Stock Exchange. Carlyle sold approximately 6.2 million shares, representing an 11.3 percent stake in Claris, for INR1.7 billion (approximately US$27 million). Carlyle invested US$20 million in Claris in 2006 through Carlyle Asia Growth Partners III. Read More