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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
Matrix Partners India Invests in LimeTray (Asia)
Venture capital firm Matrix Partners India has invested in the first institutional round of funding for India-based Alchemy Web, a company that provides restaurants with a platform to run day-to-day operations under the brand LimeTray. Services include ordering, online presence management and customer relationship management. Financial details of the transaction were not disclosed. Read More
Phatisa’s African Agriculture Fund Backs Fertilizer Manufacturer Meridian Group (Sub-Saharan Africa)
Private equity fund manager Phatisa has invested in Meridian Group, a manufacturer and distributor of specialized fertilizer blends with operations in Mozambique, Malawi, Zimbabwe, Zambia and Mauritius. The transaction was structured through Phatisa’s African Agriculture Fund. Meridian Group intends to use the funding to support its expansion plans. Financial details of the transaction were not disclosed. Read More
Samena Capital Acquires a Stake in Flemingo International (MENA)
Samena Capital, an investment group focused on the Indian subcontinent, Asia and the Middle East and North Africa, has acquired a stake in United Arab Emirates-based duty free and travel retail operator Flemingo International. The company intends to use the capital to fund its expansion plan, which includes acquisitions and organic growth. Financial details of the transaction were not disclosed. Read More
Affinity Equity Partners Backs Poultry Producer Leong Hup International (Asia)
Asia-focused private equity firm Affinity Equity Partners has agreed to buy a minority stake in Malaysia-based poultry producer Leong Hup International in a deal that values the company at around US$600 million, excluding debt. Its operations span from producing feed and rearing day-old chicks to contract farming, slaughtering and processing meat. The investment will support the company’s expansion within Southeast Asia,… Read More
Montagu Private Equity Agrees to Sell Its Stake in Euromedic (CEE and CIS)
Europe-focused private equity firm Montagu Private Equity has agreed to sell its entire holding in Hungary-based provider of diagnostics imaging and cancer care services Euromedic International to majority shareholder Ares Life Sciences. Ares Life Sciences is an investment partnership controlled by Waypoint Capital, a wealth manager associated with Swiss businessman Ernesto Bertarelli. The deal reportedly values the company at between… Read More
Ironwood Capital Partners Holds a US$25 Million First Close on Its Debut Sri Lanka-dedicated Fund (Asia)
Private equity firm Ironwood Capital Partners has held a first close on its debut Sri Lanka-dedicated vehicle with US$25 million in capital commitments. Ironwood is targeting US$30 million for a final close. Investors in the first close included primarily Asian high net-worth individuals. The fund will focus on investments of between US$3 million and US$7 million in small- and medium-sized… Read More
Gramercy Funds Management Invests US$34 Million in Grupo Credivalores (Latin America)
Emerging markets-focused investment manager Gramercy Funds Management has invested US$34 million in Colombia-based consumer finance company Credivalores-Crediservicios, its affiliates and its subsidiaries (together known as Grupo Credivalores). Grupo Credivalores offers credit to low- and middle-income populations in Colombia. The company intends to use the capital to fund an upgrade of its technology platform, as well as strengthen its management team… Read More