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KKR, LeapFrog and Indium to Invest in Magma Fincorp (Asia)
Global investment firm KKR, emerging markets financial services investor LeapFrog Investments and Indium V, an investment vehicle advised by India Value Fund Advisors, have received board approval from Magma Fincorp, an India-based non-banking finance company, to invest INR5 billion (approximately US$80 million) in the company. KKR, Indium V and LeapFrog will invest INR800 million (approximately US$13 million), INR2.2 billion (approximately… Read More
CDH Investments Participates in a Funding Round for Lufax (Asia)
Shanghai Lujiazui International Financial Asset Exchange (Lufax), a China-based peer-to-peer lending platform, has raised RMB3 billion (approximately US$489 million) in a funding round led by BlackPine Private Equity Partners, a China-focused special situations and growth capital fund manager. China-focused private equity and venture capital firm CDH Investments and the private equity arm of China International Capital Corporation (CICC) also participated… Read More
BlackRock and First Reserve to Acquire Stake in Pemex Gas Pipeline Projects (Latin America)
Global asset manager BlackRock and energy-focused private equity firm First Reserve have agreed to acquire a 45 percent stake in two gas pipelines in Mexico—Los Ramones Phase II North and Los Ramones Phase II South—from Mexican state-owned energy company Petróleos Mexicanos (Pemex) for approximately US$900 million. Both projects will benefit from a 25-year Transport Services Agreement with Pemex Gas y… Read More
Actis Exits Aluminum Components Manufacturer Teknicast (Asia)
Pan-emerging markets private equity firm Actis has fully exited its stake in Teknicast, a Malaysia-based manufacturer of aluminum die-cast components. The stake was sold to an undisclosed Asia-focused investment management firm. Financial details of the transaction were not disclosed. Read More
IL&FS Exits Maharashtra Natural Gas via a Strategic Sale to Indraprastha Gas (Asia)
India-focused private equity fund manager IL&FS Investment Managers has fully exited its stake in Maharashtra Natural Gas (MNGL), an India-based natural gas distributor, via a strategic sale to Indraprastha Gas, an India-based compressed gas distributor. The sale generated a reported cash multiple of 4.1x, including dividends received by the fund, and an INR-denominated gross IRR of 27 percent. IL&FS initially… Read More
The Carlyle Group to Acquire Sterling Resources’ Subsidiary Midia Resources (CEE and CIS)
Global alternative asset manager The Carlyle Group has agreed to acquire the entire Romanian business of international energy company Sterling Resources in a transaction worth a reported US$43 million and structured as a corporate acquisition of Sterling’s wholly-owned subsidiary Midia Resources. The acquisition will include four license blocks in the Black Sea and will form the basis for a regional… Read More
Accion Venture Lab and Artha Initiative Complete a Series A Investment in Artoo (Asia)
Accion Venture Lab, a seed stage investment firm for financial inclusion, and Artha Initiative, an India-focused impact investment platform supported by investment advisory firm Rianta Capital Zurich, have invested US$500,000 in a Series A round for India-based customer relationship management solutions provider Artoo. The company relies on mobile, cloud and alternative data to offer banking and financial services through a… Read More
Amethis Finance to Acquire a Minority Stake in NSIA Participations (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and National Bank of Canada, a commercial bank, have agreed to acquire a 26 percent stake in NSIA Participations, a Cote d’Ivoire-based financial group, from pan-African private equity firm Emerging Capital Partners (ECP). ECP will sell the stake from its ECP Africa Fund III. The… Read More
Foursan Group Acquires a 30 Percent Stake in Zalatimo Sweets & Restaurants (MENA)
Foursan Group, a private equity firm primarily focused on the Middle East, has acquired a 30 percent stake in Zalatimo Sweets & Restaurants, a Jordan-based confectionary company. The transaction was structured through Foursan Capital Partners I. Zalatimo currently operates six retail outlets around Amman; has franchised outlets in Bahrain, Kuwait and Qatar; is involved in wholesale distribution and subcontracting for… Read More
Accel Partners Launches Its Fourth India-focused Fund (Asia)
Global venture capital firm Accel Partners has launched Accel India IV, a US$305 million fund that will focus on early stage companies in India. The fund will selectively pursue growth equity opportunities, and it will invest in companies in the consumer, enterprise software, mobile and healthcare sectors. Read More
IFC and Riverwood Capital Invest in Netshoes (Latin America)
International Finance Corporation (IFC), a development finance institution, and Riverwood Capital, a technology-focused private equity firm, have invested US$45 million in Netshoes, a Brazil-based sporting goods e-commerce company. The investment will support Netshoes’ expansion in Latin America, as well as the development of its business vertical Zattini, an e-commerce fashion retailer. Read More
Jadwa Investment and APICORP Acquire a Majority Stake in Saudi Mechanical Industries (MENA)
Jadwa Investment, a Saudi Arabia-focused private equity firm and investment bank, has led the acquisition of a majority stake in Saudi Arabia-based engineering company Saudi Mechanical Industries. Arab Petroleum Investments Corporation (APICORP), a multilateral development bank focusing on the oil and gas sector in the Arab world, also participated in the round. Jadwa’s investment was structured through its Jadwa Mechanical… Read More