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CapMan Backs Test Preparation Services Provider Maximum Education (CEE and CIS)
Russia-focused private equity firm CapMan Russia, a subsidiary of Finland-based fund manager CapMan, has acquired a stake in Russia-based Maximum Education, a provider of test preparation services. The transaction was structured through CapMan Russia II. The company provides online and offline test preparation services and operates two learning centers in Moscow and St. Petersburg. The aim of the transaction is… Read More
Arlon Group Invests in Grano Alimentos (Latin America)
Americas-focused food and agriculture investment firm Arlon Group has acquired a stake in Brazil-based Grano Alimentos. Grano is a manufacturer of packaged frozen vegetable products, selling to food service, retail, private label and industrial clients throughout Brazil. Financial details of the transaction were not disclosed. Read More
Investcorp Acquires a Majority Stake in Arvento Mobile Systems (CEE and CIS)
Investcorp, a provider and manager of alternative investment products, has agreed to acquire a majority stake in Turkey-based telematics company Arvento Mobile Systems. The company designs, develops and sells its own range of hardware products and software applications. Investcorp intends to diversify the company’s offerings and support its expansion into new markets. Financial details of the transaction, which is subject… Read More
SAIF Partners, Sequoia Capital and Aspada Investment Advisors Invest in Capital Float (Asia)
India-based online lending platform Capital Float has raised US$13 million in Series A financing co-led by venture capital firms SAIF Partners and Sequoia Capital. Existing investor Aspada Investment Advisors, an investment firm focused on Indian small- and medium-sized enterprises, also participated in this round. The company intends to use the capital to launch new products, hire 30 to 50 additional… Read More
Warburg Pincus Fully Exits Tulip Media via Strategic Sale to Shanghai New Culture Media Group (Asia)
Global private equity firm Warburg Pincus has sold its 19 percent stake in China-based outdoor advertising firm Tulip Media to Shenzhen-listed Shanghai New Culture Media Group for RMB230 million (approximately US$37 million) in cash. This was part of a larger transaction in which New Culture Media Group acquired 100 percent of Tulip for an aggregate value of RMB1.2 billion (approximately… Read More
ChrysCapital Acquires an Additional Stake in Ipca Laboratories for Around US$20 Million (Asia)
ChrysCapital, an investment firm that focuses on growth sectors in India, has raised its stake in India-listed pharmaceutical manufacturer Ipca Laboratories by buying an additional 1.3 percent stake for around US$20 million. The purchase took place through open market transactions over the last few months. ChrysCapital had previously acquired a 2.6 percent stake in Ipca Laboratories for approximately US$29 million… Read More
QIC Holds a US$528 Million First Close on QIC Global Infrastructure Fund (Global)
QIC, a global diversified alternative investment firm, has announced that its QIC Global Infrastructure Fund has secured initial capital commitments totaling US$528 million from four institutional investors. The investors included an Asian sovereign wealth fund and an Australian pension scheme. The fund will seek infrastructure investment opportunities in markets around the world. Read More
IDFC Alternatives to Partially Exit Green Infra for INR10.6 Billion (Asia)
Singapore-based energy, water and marine group Sembcorp Industries has signed agreements to acquire a 60 percent stake in India-based renewable energy company Green Infra from India-focused private equity firm IDFC Alternatives for INR10.6 billion (approximately US$170 million). The transaction will be structured through IDFC Private Equity Fund II and IDFC Private Equity Fund III. Post-transaction, IDFC Private Equity Fund III… Read More
Actis Launches Renewable Energy Platforms for India and Africa (Asia, Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has committed US$230 million to create Ostro Energy, a renewable energy platform focused on India. Ostro Energy’s first project is Tejuva, a 50MW wind project already under construction in Rajasthan. Separately, Actis has launched Lekela Power, a US$1.9 billion pan-African renewable energy platform. Actis is investing through Actis Fund 3 alongside global wind and… Read More
Ascent Capital Invests US$2.5 million in Medpharm Holdings Africa (Sub-Saharan Africa)
Private equity firm Ascent Capital has invested US$2.5 million in Ethiopia-based pharmaceutical company Medpharm Holdings Africa. The transaction was structured through Ascent Rift Valley Fund. Medpharm will use the investment to develop a pathology department, as well as to expand its presence throughout East Africa. Read More
Equis Funds Group Raises US$1.3 Billion for Equis Asia Fund II & Equis Direct Investment Fund (Asia)
Energy and infrastructure private equity fund manager Equis Funds Group has raised US$1.3 billion for two funds, reaching a close on Equis Asia Fund II with US$1 billion in capital commitments and a close on Equis Direct Investment Fund—a follow-on vehicle to Fund I—with US$300 million in commitments. Investors also committed an additional US$400 million to two existing Equis portfolio… Read More
Cheyipai Raises US$110 Million in a Series D Financing Round (Asia)
China-based social networking platform Renren has led a US$110 million Series D financing round for China-based second-hand car trading platform Cheyipai. Venture capital firms Sequoia Capital, Matrix Partners and Morningside Technologies and CITIC Capital, the private equity arm of CITIC Capital Holdings, also participated in the round. The company intends to use the fresh capital for offline business development and… Read More