GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Legend, SIG Asia, VMS, Sequoia and Lightspeed Participate in a Series C Funding Round (Asia)
Legend Capital, the venture capital arm of China-based investment group Legend Holdings, and SIG Asia Investments, the venture capital and private equity arm of the Susquehanna International Group, have led a Series C investment round in Ppdai.com, a China-based peer-to-peer lending company. Venture capital firms Sequoia Capital and Lightspeed China Partners and private equity firm VMS Investment Group also participated… Read More
Advent International Exits Partner in Pet Food to Pamplona Capital Management (CEE and CIS)
Global private equity firm Advent International has sold Partner in Pet Food (PPF), a Hungary-based pet food company, to global private equity firm Pamplona Capital Management for EUR315 million (approximately US$339 million). Pamplona’s investment was structured through its Pamplona Capital Partners IV fund. Advent initially acquired PPF through a carve-out from Provimi Group, a global animal nutrition company, in 2011,… Read More
Hahn & Company Partially Exits Korea-based Cowell in a Hong Kong IPO (Asia)
South Korea-focused private equity firm Hahn & Company has partially exited its investment in Cowell e Holdings, a South Korea-based mobile phone camera module manufacturer, in an initial public offering (IPO) on the Hong Kong Stock Exchange. The sale returned US$68.4 million to Hahn, giving Cowell a market capitalization of HKD3.5 billion (approximately US$451 million) based on its offer price… Read More
IVFA Indium V Fund Reaches a First Close with US$500 Million (Asia)
India Value Fund Advisors (IVFA), a firm focused on investing in mid-sized businesses, has reached a first close for its Indium V fund with US$500 million in capital commitments. The fund, which is sector-agnostic and has a hard cap of US$700 million, also recently announced its first investment, an INR2.2 billion (approximately US$35 million) commitment to India-based non-bank financing company… Read More
IDFC Alternatives Acquires a Stake in ONGC Tripura Power Company (Asia)
IDFC Alternatives, the alternative asset management arm of infrastructure financing company IDFC, has purchased a 23.5 percent stake in ONGC Tripura Power Company (OTPC), an India-based operator of a gas power plant, for INR4.3 billion (approximately US$68 million). The investment was structured through IDFC’s India Infrastructure Fund II. Existing shareholders in OTPC include ONGC, an India-based state owned oil and… Read More
DPI Raises US$725 Million for Its Second Fund (Sub-Saharan Africa)
Private equity firm Development Partners International (DPI) has closed its second pan-Africa-focused fund, ADP II, with approximately US$725 million in capital commitments. Investors in the fund include corporate and public pension funds, endowments and foundations, funds of funds, family offices and development finance institutions from the United States, Europe, the Middle East and Africa. The fund seeks to invest in… Read More
CVC Capital Partners to Buy Convertible Bonds from MAP Aktif Adiperkasa (Asia)
CVC Capital Partners has agreed to invest IDR1.5 trillion (approximately US$114 million) in convertible, unsecured, zero-coupon bonds issued by MAP Aktif Adiperkasa (MAA), a sports and lifestyle retail and manufacturing subsidiary of Mitra Adiperkasa, an Indonesia-based apparel retailer. The agreement provides CVC with the option to convert its investment into a 30 percent equity stake in MAA in the case… Read More
Carlyle Exits Its Stake in Jiangsu Rainbow Heavy Industries (Asia)
Global alternative asset manager The Carlyle Group has sold its 9.6 percent stake in Jiangsu Rainbow Heavy Industries (RHI), a China-based port and marine-related machinery manufacturer. The investment was held by China Crane Investment Holdings, an investment vehicle jointly owned by The Carlyle Group and Finland-based cargo-handling machinery company Cargotech. Carlyle’s investment in RHI was structured through Carlyle Asia Growth… Read More
Aspada Investment Company Invests in InI Farms (Asia)
Aspada Investment Advisors, an investment firm focused on small- and medium-sized enterprises in India, has invested INR200 million (approximately US$3.2 million) in InI Farms, an India-based pomegranate and banana processing and export company. The investment was structured through Aspada Investment Company, a holding company managed by Aspada Investment Advisors. InI Farms will use the fresh funds to build scale in… Read More
Darby Private Equity and Pera Capital Partners Acquire Specialty Foods Distributor (CEE and CIS)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, and Turkey-focused private equity firm Pera Capital Partners have agreed to acquire Koza Gida, a Turkey-based specialty foods distributor. Darby’s share of the investment was structured through Darby Converging Europe Fund III. Koza Gida will use the new investment to expand into new product categories, enlarge and update its… Read More
The Abraaj Group Raises US$990 Million for a Sub-Saharan Africa Fund (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has reached a final close for its Sub-Saharan Africa-focused Abraaj Africa Fund III with US$990 million in capital commitments, surpassing its original target of US$800 million. The fund intends to invest in mid-sized companies, diversified by sector, country and deal type. Investors in the fund include International Finance Corporation (IFC), which made a… Read More
CMS Opus Private Equity Acquires a 30 Percent Stake in Damini (Asia)
CMS Opus Private Equity (COPE), a Malaysia-focused asset management firm, has acquired a 30 percent stake in Malaysia-based water treatment and management equipment company Damini. The company plans to use the fresh funding to acquire new businesses and strengthen its operations in the oil and gas sector. The transaction was structured through Cope Opportunities 2. Financial details of the transaction… Read More