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Ares Makes Second Close on US$500 Million Asia Fund (Asia)

U.S.-based alternative asset manager Ares Management has held a second close on the Ares Corporate Opportunities Fund Asia with US$90 million in commitments. The fund is targeting US$500 million in total commitments. The private equity fund will be Ares’s first focused on Asia, where the firm has offices in Hong Kong and Shanghai. Read More

Cinven Invests in Pronet (CEE and CIS)

European private equity firm Cinven has announced that it has reached an agreement to acquire a majority stake in Pronet Güvenlik, a provider of security electronic alarm systems in Turkey. Cinven is purchasing its stake from Turkish private equity firm Turkven and the Dutch development bank FMO. The transaction, the financial details of which were not disclosed, is subject to… Read More

Milestone Backs China Restaurant Chain IPO (Asia)

Milestone Capital, a China-based growth capital fund manager, has agreed to become a cornerstone investor in Chinese restaurant chain Xiao Nan Guo’s Hong Kong IPO. Xiao Nan Guo, which has 57 branches across the country, specializes in Shanghai cuisine. The company is looking to sell 341.25 million shares at HKD1.50 (US$0.13) per share to raise HK$511.5 million (approximately US$65.9 million).… Read More

XSML Supports the Education Sector in Congo

Netherlands-based private equity fund manager XSML has invested in Le Palmier, an education institution operating three schools in the Democratic Republic of the Congo (DRC). XSML made the investment through its Central Africa SME Fund, which provides capital and managerial support to entrepreneurs in DRC and the Central African Republic. XSML’s investment will support the construction of a fourth school… Read More

OPIC Board Approves over US$600 Million in New Commitments to Private Equity (Pan-Emerging Markets)

The Board of Directors of U.S. development finance institution Overseas Private Investment Corporation (OPIC) has approved over US$600 million in financing for private equity funds investing in Latin America, Africa, Eastern Europe and Southeast Asia. OPIC’s recently announced commitments include: US$185 million for the Tacna and Panamerica solar power projects in Peru, to be developed by Conduit Capital Partners, an… Read More

ChinaEquity, Co-win Venture Participate in Wine9’s 2nd Round (Asia)

ChinaEquity Group and Shenzhen Co-win Venture Capital Investments have jointly made an investment in Wine9.com, an online wine retail company formerly known as Pinwine.cn. Wine9 will use the proceeds to establish warehouses across the countries to facilitate deliveries, and will enhance its IT system. Financial details of the transaction were not disclosed. Read More

Online Rentals Site TravelRent Secures US$2 Million from Investment Fund Frontier Ventures (CEE and CIS)

TravelRent, a Russian online service for short-term apartment rentals, has raised US$2 million from Frontier Ventures, a Moscow-based venture capital fund focused on the Russian-speaking consumer internet industry. TravelRent plans to use the investment to strengthen its team and to develop new marketing programs to build brand awareness and increase online listings. Read More

KKR Hits First Close on Asia Fund II (Asia)

Kohlberg Kravis Roberts & Co. (KKR) has reportedly reached a first close of US$3 billion for its second pan-Asian private equity fund. The fund, which is targeting total commitments of US$6 billion, will focus on consumer goods, manufacturing, healthcare and infrastructure projects and includes a US$1 billion target allocation to Southeast Asia. Separately, Indian aviation services provider Air Works announced… Read More

Silk Invest Closes Private Equity Investment in Ethiopia (Sub-Saharan Africa)

Silk Invest, a U.K.-based specialist asset manager focused on Africa, the Middle East and Asia, has acquired a significant minority stake in NAS Foods, a biscuit producer based in Ethiopia. Silk Invest made its investment through the Silk African Food Fund. NAS Foods will use the investment to upgrade production facilities and develop new product lines. Financial terms of the… Read More

CapMan Invests in Vital Development Corporation (CEE and CIS)

CapMan Russia, the Russia-focused private equity fund of Finnish asset manager CapMan, has acquired a 25 percent stake in Vital Development Corporation (Vital), a Russian producer of laboratory equipment and biochemical reagents. Vital plans to further expand its product line with two new business lines related to immunological analysis and water purification systems. Financial terms of the transaction were not… Read More

YFind Technologies Raises US$1.5 Million to Create Location-Intelligent Cities (Asia)

YFind Technologies, a Singapore-based wireless communications company, has raised SGD1.5 million (US$1.2 million) in a Series A funding round led by U.S.-based global venture capital firm Walden International and Singapore-based Innosight Ventures. YFind has developed a new WiFi-based technology platform that enables mobile devices to determine their precise location within buildings and densely-built urban areas. The company will use the… Read More

Hopu Asset Management Sells 6 Percent Stake in Chinese Dairy Firm Mengniu (Asia)

Chinese private equity firm Hopu Investment Management has sold its 6 percent stake in China Mengniu Dairy to Danish dairy company Arla Foods for DKK1.7 billion (US$289 million). Hopu held its stake in Mengniu through a 30 percent stake in COFCO Dairy (which in turn held a 20 percent stake in Mengniu). COFCO Dairy was formed in 2009 when Hopu… Read More