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OrbiMed Asia Partners II Reaches a US$325 Million Final Close (Asia)
Healthcare-focused investment firm OrbiMed Advisors has closed OrbiMed Asia Parters II with US$325 million in capital commitments, surpassing its original US$300 million target. The fund intends to invest in drug developers, diagnostics firms and medical device manufacturers in Asia. Read More
Clearwater Exits Dolphin Offshore Enterprises (Asia)
Clearwater Capital Partners, an investment firm focused on credit and special situations in Asia, has exited India-based marine operation and construction company Dolphin Offshore Enterprises India by selling its entire 6.54 percent stake through open market transactions on the Bombay Stock Exchange and the National Stock Exchange of India. The sale amount was estimated to be between INR130 million (approximately… Read More
IHS Fund II Reaches a First Close (Sub-Saharan Africa)
International Housing Solutions (IHS), an investment firm focused on residential housing, has reached a first close on its second affordable housing fund, IHS Fund II, with ZAR1.5 billion (approximately US$138 million) in capital commitments. Investors included Overseas Private Investment Corporation, National Housing Finance Corporation, International Finance Corporation, Global Environmental Facility, WDB Investment Holdings and Eskom Pension and Provident Fund. IHS… Read More
LeapFrog Investments Closes Its Second Fund with US$400 Million in Commitments (Asia, Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments has closed its second fund with US$400 million in capital commitments. Investors in the final close, which was oversubscribed, included AIG, Alliance Trust, AXA, HESTA, RGA Reinsurance and Zurich Insurance Group. The new fund will make equity investments of US$10 million to US$50 million in Ghana, Kenya, Nigeria, South Africa, India, Indonesia, the… Read More
Tata Capital to Buy a 17 Percent Stake in Standard Greases & Specialties (Asia)
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has received approval from the Competition Commission of India to acquire a 17 percent stake in India-based lubricating grease manufacturer Standard Greases & Specialties. The transaction will be structured through Tata Capital Growth I and Alpha TC Holdings, a fund backed by Japan-based investment bank Mizuho Securities and… Read More
Alta Growth Capital Closes Mexico Fund II with US$142 Million in Commitments (Latin America)
Mexico-focused private equity firm Alta Growth Capital has completed a final close on Alta Growth Capital, Mexico Fund II with US$142 million in capital commitments. Investors in the fund included Mexican and international limited partners. Alta Growth Capital’s debut fund closed in 2009. Read More
The Carlyle Group Closes Carlyle Asia Partners IV at US$3.9 Billion (Asia)
Global alternative asset manager The Carlyle Group has reached a final close on Carlyle Asia Partners IV (CAP IV) with US$3.9 billion in capital commitments, exceeding its target of US$3.5 billion. CAP IV intends to make control and significant minority investments in companies across the Asia ex-Japan region. CAP IV completed its first investment in May in ADT Korea, a… Read More
Catalyst Principal Partners Invests in Mimosa Pharmacy (Sub-Saharan Africa)
East Africa-focused private equity firm Catalyst Principal Partners has invested in retail pharmacy chain Mimosa Pharmacy alongside Chris Getonga, the founder of Mimosa, and Africa Chemist and Beauty Care, an investor planning to build an East African pharmacy chain. Mimosa Pharmacy intends to use the funds to expand across commercial centers in Kenya and East Africa. Financial details of the… Read More
Multiples Alternate Asset Management Leads a US$35 Million Series C Round for Delhivery (Asia)
India-focused private equity firm Multiples Alternate Asset Management has led a US$35 million Series C financing round for Delhivery, an e-commerce logistics company based in India. Existing investors Nexus Venture Partners and Times Internet, the internet subsidiary of The Times of India Group, also participated. Delhivery intends to use the financing to invest in its portfolio of e-commerce technologies and… Read More
CDH Venture Closes Its Third Fund (Asia)
CDH Venture, a venture capital team under the umbrella of China-focused alternative asset fund manager CDH Investments, has closed its third venture capital fund with more than US$100 million in capital commitments. The fund intends to target businesses that are moving from the offline to online space, as well as healthcare start-ups, and has already invested in nine companies since… Read More
Amwal AlKhaleej Acquires a Majority Stake in Sports Retailer Umark (MENA)
Amwal AlKhaleej, a private equity firm focused on the Middle East and North Africa, has acquired a majority stake in Umark, a Saudi Arabia-based sports retailer and distributor of personal care and home appliance products. The transaction, which took the form of a capital increase, is intended to finance the company's expansion in the sports retail, personal care and home… Read More
Swicorp Acquires a 30 Percent Stake in BRC Industrial (MENA)
Swicorp, a MENA-focused investment banking and asset management firm, has acquired a 30 percent stake in Saudi Arabia-based steel products manufacturing and processing company BRC Industrial. The transaction was structured through Sadeed Investment, a Swicorp-owned investment vehicle. BRC Industrial intends to strengthen its position in the domestic reinforcement steel and fencing markets. Financial details of the transaction were not disclosed. Read More