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Navis Capital Agrees to Sell Trio Engineered Products to Weir Group for US$220 Million (Asia)
Southeast Asia-focused private equity firm Navis Capital Partners has agreed to sell China-based Trio Engineered Products to London Stock Exchange-listed engineering company Weir Group for an enterprise value of US$220 million. Trio is a global provider of crushing, screening, washing and conveying equipment to the mining, recycling and mineral industries. The transaction is subject to certain closing conditions and is… Read More
CDH to Realize US$1.6 Billion from WH Group Through a Share Pledge (Asia)
China-focused private equity and venture capital firm CDH Investments will return capital to its limited partners by pledging shares in China-based pork producer WH Group worth an estimated HKD12.6 billion (approximately US$1.6 billion). CDH, which is still bound by a 12-month lock-up dating from WH Group's Hong Kong IPO in August, has agreed to mortgage 2.1 billion shares of China-based… Read More
AfricInvest Group Holds a First Close for AfricInvest Fund III (Sub-Saharan Africa)
AfricInvest Group, a private equity firm focused on North and Sub-Saharan Africa, has held a first close for AfricInvest Fund III (AF III) with more than EUR154 million (approximately US$195 million) in capital commitments. Investors in the fund include development finance institutions Netherlands Development Finance Company (FMO), CDC Group, International Finance Corporation, DEG, Finnfund, PROPARCO, Swedfund and SIFEM, as well… Read More
Abris Capital Partners to Acquire a Majority Stake in AAA Auto Group for EUR220 Million (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to acquire a 95 percent stake in Czech Republic-based used car dealer AAA Auto Group for EUR220 million (approximately US$279 million). The transaction, which has been cleared by the Czech Antimonopoly Office, is subject to the approval of anti-monopoly authorities in Slovakia, Russia and Ukraine. AAA Auto… Read More
Baring Private Equity Asia Reaches a US$3.2 Billion First Close for Fund VI (Asia)
Asia-focused private equity firm Baring Private Equity Asia has reached a US$3.2 billion first close for its latest pan-Asia fund, Baring Private Equity Asia Fund VI. Investors in the fund, which reportedly has a hard cap of US$3.85 billion, include Pennsylvania Public School Employees' Retirement System, San Francisco City & County Employees' Retirement System and Arizona Public Safety Personnel Retirement… Read More
IDFC Alternatives’ Second India Infrastructure Fund Reaches a Final Close at US$900 Million (Asia)
IDFC Alternatives, the alternative asset management arm of India-focused infrastructure financing company IDFC, has reached the final close for India Infrastructure Fund II (IIF II) at its hard cap of INR55 billion (approximately US$900 million). The fund received commitments of US$90 million from IDFC and US$810 million from third-party limited partners, including global institutional investors from North America, Europe and… Read More
CDH Investments to Acquire Nanfu Battery from Procter & Gamble (Asia)
China-focused private equity and venture capital firm CDH Investments has agreed to acquire a 79 percent stake in China-based alkaline battery manufacturer Fujian Nanping Nanfu Battery from global consumer goods company Procter & Gamble in a transaction reportedly worth US$1 billion. Nanfu Battery sells its products under the Excell, Nanfu and Ecoenergy brands. The transaction is expected to be completed… Read More
LeapFrog Investments Sells Its Stake in Kenya-based Insurance Group Apollo to Swiss Re (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments has sold its minority stake in Kenya-based insurance group Apollo Investments to Swiss Re, a global wholesale provider of reinsurance. Apollo, through its wholly-owned insurance subsidiary APA, provides a broad array of insurance solutions across Kenya, Uganda and Tanzania. Financial details of the transaction were not disclosed. Read More
The Abraaj Group Invests in South Africa-based Food and Personal Care Manufacturer Liberty Star Consumer Holdings (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has acquired a majority stake in South Africa-based food and personal care manufacturer Liberty Star Consumer Holdings (Libstar) from existing shareholders including Metier, Old Mutual Private Equity, Development Partners International and Lereko. Libstar manufactures a broad range of products for the South African food, fast-casual dining, household and personal care markets. Financial details… Read More
Dragon Capital Partially Exits Vinamilk (Asia)
Vietnam-focused investment manager Dragon Capital has partially exited a 1.1 percent stake in Vietnam-listed dairy company Vinamilk for US$66 million. Dragon Capital originally invested in the company through two of its funds, Vietnam Enterprise Investments (VEIL) and Vietnam Growth Fund (VGF). The recent exit resulted in a reported IRR of 49 percent over ten years. The firm had previously exited… Read More
Vantage Capital II Provides ZAR80 Million for the Buyout of South Africa-based Dynamic Bedding (Sub-Saharan Africa)
Mezzanine-focused private investment fund manager Vantage Capital has provided approximately ZAR80 million (approximately US$7 million) in funding to facilitate a management buyout of South Africa-based bedding supplier Dynamic Bedding. The transaction was structured through Vantage Capital II. The company manufactures, distributes and markets bed bases and mattresses that are sold throughout its network of 120 retail stores. Read More
Emerging Capital Partners and Helios Investment Partners Participate in a US$130 Million Financing Round for Wananchi Group (Sub-Saharan Africa)
Wananchi Group, a Kenya-based provider of broadband and Pay TV services in Eastern Africa, has completed a US$130 million financing round co-led by existing and new shareholders including international telecommunications companies Altice, Liberty Global and ATMT and Africa-focused private equity firms Emerging Capital Partners and Helios Investment Partners. The investment will be used to support Wananchi’s expansion in East and… Read More