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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
The Carlyle Group Receives Approval to Buy Destimoney’s Indian Arm (Asia)
The Competition Commission of India has approved Mauritius-based financial services company Destimoney Enterprises’ proposed sale of its Indian arm to Quality Investment Holdings, an entity controlled by alternative asset manager The Carlyle Group, for a reported US$200 million. Carlyle will acquire a 100 percent stake in Destimoney Enterprises’ Indian arm. The deal will also result in an indirect purchase of… Read More
InvAscent’s India Life Sciences Fund II Invests Across Two Medical Device Companies (Asia)
India-focused private equity firm InvAscent has invested INR920 million (approximately US$15 million) across two India-based medical device companies: Comprehensive Prosthetics and Orthotics (CPO), a manufacturer of artificial limbs, and Relisys, a manufacturer of medical devices that treat life-threatening diseases. The transactions were structured through India Life Sciences Fund II. InvAscent invested INR600 million (approximately US$10 million) in CPO, which intends… Read More
AIF Capital Exits Famy Care Through a Strategic Sale to Mylan (Asia)
Global pharmaceutical company Mylan has signed a definitive agreement to acquire certain female health care businesses from India-based oral contraceptive pill manufacturer Famy Care for US$750 million, plus additional contingent payments of up to US$50 million, facilitating an exit for Asia-focused private equity firm AIF Capital. AIF Capital originally invested INR1.8 billion (approximately US$40 million) in Famy Care for a… Read More
Southern Cross Group Agrees to Acquire a 70 Percent Stake in Storage Company Tópico (Latin America)
Latin America-focused private equity firm Southern Cross has agreed to acquire a 70 percent stake in Brazil-based temporary storage solutions provider Tópico. The company intends to use the funds to bolster its operations in Brazil by opening new branches and to expand to other Latin American countries, including Mexico, Colombia and Chile. Financial details of the transaction were not disclosed. Read More
Hahn & Company Closes Fund II with US$1.2 Billion in Capital Commitments (Asia)
South Korea-focused private equity firm Hahn & Company has held a final close on its second South Korea buyout fund with US$1.2 billion in capital commitments, reaching the fund’s hard cap. The final close came in the first week of December. Hahn & Company also raised a separate US$700 million co-investment pool to support the US$3.6 billion acquisition of South… Read More
CITIC Private Equity and Beijing Enterprises Water Group to Invest in Jin Cai Holdings (Asia)
China-focused private equity firm CITIC Private Equity and water treatment company Beijing Enterprises Water Group have agreed to acquire a majority stake in Hong Kong-listed cigarette package maker Jin Cai Holdings for approximately HKD3.75 billion (approximately US$484 million). The transaction will be structured through CITIC Private Equity Funds II and CPE China Fund II. Jin Cai Holdings plans to issue… Read More
The Abraaj Group Invests in BRN Sleep Products with EBRD (CEE and CIS, MENA)
Global growth markets investor The Abraaj Group has acquired a stake in BRN Yatak Baza Ev Tekstili İnşaat Sanayi Ticaret (BRN Sleep Products), a Turkey-based mattress and sleep products manufacturer, in partnership with development finance institution EBRD. Financial details of the transaction, which was structured through Abraaj’s Anatolia Growth Capital Fund, were not disclosed. BRN Sleep Products is planning to… Read More