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Aavishkaar Announces Exit from Net Systems (Asia)
Aavishkaar, an India-focused early-stage investor, has exited its investment in India-based Net Systems to the company’s promoters, generating a reported cash-on-cash return multiple of approximately 3x. Net Systems, which operates under the BarrierBreak brand, specializes in accessibility testing and conversion and assistive technology products for people with disabilities. Aavishkaar first invested in Net Systems in 2005 through its Aavishkaar India… Read More
Goldman Sachs Leads US$36 Million Round for Food-ordering Platform Woowa Brothers (Asia)
A group of investors led by global banking, securities and investment management group Goldman Sachs has invested KRW40 billion (approximately US$36 million) in a Series D funding round for South Korea-based Woowa Brothers, which owns and operates the digital food-ordering platform Baedal Minjok. The company will use the new funds to upgrade its technology, improve customer experience and expand overseas.… Read More
DPI, AfricInvest, DEG, FMO and Proparco to Exit Their Investment in Mansard (Sub-Saharan Africa)
Funds managed by pan-African private equity firms Development Partners International (DPI) and AfricInvest Group, as well as European development finance institutions DEG, FMO and Proparco, have agreed to sell 100 percent of Assur Africa Holding (AAH) to global financial services company AXA Group for EUR198 million (approximately US$247 million). AAH holds a 77 percent interest in Mansard Insurance, a Nigeria-based… Read More
CITIC Capital Partners Completes Acquisition of Study & Share Education Company (Asia)
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings, has acquired a controlling stake in China-based Study & Share Education Company, a provider of test preparation and vocational training for obtaining professional certificates in the construction industry. Study & Share operates more than 40 learning and student recruitment centers across China. Financial details of the transaction, which was… Read More
ThomasLloyd to Build Three New Solar Power Stations in the Philippines (Asia)
Global investment banking and investment management group ThomasLloyd has contracted three new solar power stations in the Philippines. The transaction was structured through ThomasLloyd’s Cleantech Infrastructure Fund. The plants, due to reach completion in June 2015, will have a generating capacity of 41MW. Financial details of the transaction were not disclosed. Read More
The Carlyle Group and Old Mutual Private Equity to Acquire 100 Percent of Tiger Automotive (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group and South-Africa focused private equity fund manager Old Mutual Private Equity have agreed to acquire 100 percent of South Africa-based tire retailer and wholesaler Tiger Automotive from Ethos Private Equity and the company’s founders for a reported ZAR2 billion (approximately US$182 million). Funding for the investment will come from the Carlyle Sub-Saharan Africa… Read More
The Carlyle Group Invests US$147 Million in Diamond Bank (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has invested US$147 million in Nigeria-listed commercial bank Diamond Bank. The transaction, which came as part of Diamond Bank’s recently completed US$305 million rights issue, was structured through Carlyle’s Sub-Saharan Africa Fund. Proceeds will be used for the development of the bank’s IT infrastructure, for working capital support and for the expansion and… Read More
SAIF Partners Invests in Qikwell and PropTiger, Partially Exits Just Dial (Asia)
Asia-focused multi-stage investment firm SAIF Partners has invested US$3 million in India-based online doctor appointment platform Qikwell Technologies’ Series A funding round, and participated in a US$37 million round for Elara Technologies, operator of India-focused real estate marketing platform PropTiger.com. Global media group News Corp invested US$30 million in Elara, with SAIF Partners and venture capital firms Accel Partners and… Read More
Darby Private Equity Invests in Storent Holding (CEE and CIS)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, has acquired a majority interest in Latvia-based construction and industrial equipment rental company Storent Holding. Darby’s investment will be used by Storent, which currently operates 23 rental depots across Latvia, Lithuania and Estonia, to develop its equipment fleet and increase market share in its core Baltic markets. Financial details… Read More
Gulf Capital Completes Management Buy-Out of Destinations of the World (MENA)
Middle East-focused alternative asset manager Gulf Capital has completed the acquisition of 100 percent of United Arab Emirates-based hospitality distributor Destinations of the World (DOTW) in partnership with the company’s senior management. DOTW secures hotel room inventory and sells bookings to its distribution network of travel agents, airlines and tour operators. Post-transaction, Gulf Capital will retain a 57.5 percent stake… Read More
Fanisi Capital Receives Regulatory Approval to Invest in Ngare Narok Meat Industries (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has received regulatory approval from the Competition Authority of Kenya to acquire a 40.2 percent stake in Kenya-based Ngare Narok Meat Industries. Ngare Narok Meat operates a modern abattoir, meat processing plant and rendering plant. Fanisi Capital reported in August that it intended to invest KES221 million (approximately US$2.4 million) in… Read More
Everstone Capital and Solmark to Acquire a Majority Stake in Servion Global Solutions for INR4 billion (Asia)
India-focused private equity firm Everstone Capital and United States-based equity fund Solmark have signed an agreement with India-based customer management service provider Servion Global Solutions to acquire a controlling stake in Servion for INR4 billion (approximately US$65 million). The transaction will be structured through Evertech, Everstone Group’s technology investment platform, and will provide an exit to most of the existing… Read More