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Southern Cross Buys a 70 Percent Stake in Equipment Leasing Firm Solaris (Latin America)

Latin America-focused private equity firm Southern Cross has acquired a 70 percent stake in Brazil-based construction and industrial equipment leasing firm Solaris for a reported BRL220 million (approximately US$92.3 million). Solaris, which is controlled by the Argentinian group Sullair, intends to use the new capital to double its size in the next three years. Read More

Development Partners International Holds US$250 Million First Close (Sub-Saharan Africa)

Africa-focused private equity firm Development Partners International (DPI) has held a first close on its second buyout fund at US$250 million, with a final target of US$500 million. Investors in the fund include the United States’ Overseas Private Investment Corporation, which will commit up to US$150 million. African Development Partners I, DPI’s previous fund that held a final close in… Read More

Anthem Asia Invests US$1 Million in Myanmar-Based Hintha Business Centres (Asia)

Myanmar-focused investment and advisory group Anthem Asia has invested US$1 million in Myanmar-based office services provider Hintha Business Centres (HBC). HBC runs serviced offices in Yangon, with 13 private offices available to rent on a weekly or monthly basis. It intends to use the new funding to develop its 6,000-square-foot flagship facility. Anthem Asia’s maiden fund has reached an undisclosed… Read More

Quadria Capital Completes US$107 Million First Closing of Its Healthcare Fund (Asia)

Quadria Capital, an Asian healthcare sector-focused private equity group, has announced the first close of its second fund, Quadria Capital Fund, with total capital commitments of US$107 million. The fund is focused on growth equity investments in mid-sized healthcare companies in South and Southeast Asia. Investors included development finance institutions, investment institutions, corporate investors and family offices. Read More

Actis Buys General Lighting Business of Halonix for US$24 Million (Asia)

Pan-emerging markets private equity firm Actis has bought the general lighting business of India-based automotive and general lamp manufacturer Halonix for INR1.6 billion (approximately US$23.9 million). As part of the deal, Halonix transferred its general lighting business, which manufactures and sells compact fluorescent lamps, luminaires and LED technology-based lighting products, to its subsidiary Halonix Technologies, and sold it to Actis.… Read More

The Carlyle Group, Ping An Insurance and Cathay Pacific Private Equity Invest RMB300 Million in Health 100 (Asia)

Global alternative asset manager The Carlyle Group has teamed up with insurance and financial services holding company Ping An Insurance Company of China and Franco-Chinese management company Cathay Capital Private Equity to participate in a RMB300  million (approximately US$48.6 million) Series B investment round in Health 100, a China-based health examination service provider. The transaction was structured through The Carlyle… Read More

Vantage’s Fund II Provides ZAR90 Million in Mezzanine Debt Funding for the Acquisition of Reatile Timrite (Sub-Saharan Africa)

Vantage Risk Capital, a subsidiary of private equity fund manager Vantage Capital Group, has provided ZAR90 million (approximately US$8.7 million) in mezzanine debt funding for the 100 percent acquisition of Reatile Timrite (Timrite), a South Africa-based supplier of mining support products, by African investment management firm Thebe Investment Corporation and the Timrite management team. Funding for the acquisition also included… Read More

Armstrong Fund Raises US$130 Million at Third Closing (Asia)

Southeast Asia-focused clean energy investor Armstrong Asset Management has reached a US$130 million third close on its Armstrong South East Asia Clean Energy Fund. Investors in the third close include International Finance Corporation (IFC), IFC Asset Management Company’s IFC Catalyst Fund, the Netherlands Development Finance Company (FMO) and the Swiss Investment Fund for Emerging Markets (SIFEM). The fund held its… Read More

The Carlyle Group and The Townsend Group Invest US$200 Million in Partnership with Shanghai Yupei Group (Asia)

Global alternative asset manager The Carlyle Group and investment management services provider The Townsend Group have announced a partnership with China-based warehouse developer Shanghai Yupei Group to invest in 17 warehouses in China. The Carlyle Group, structured through Carlyle Asia Real Estate, and The Townsend Group will commit approximately US$200 million to acquire equity interests in five warehouses owned by… Read More

Creador’s Fund II Reaches a US$105 Million First Close (Asia)

Creador, a private equity firm focused on growth investments in Indonesia, Malaysia, Singapore and India, held a US$105 million first close on its second fund with capital commitments coming largely from existing LPs. Expecting to close in early 2014, Creador’s Fund II is targeting US$250 million and will focus on investments in Malaysia and Indonesia. The firm’s first fund, a… Read More

L Capital Asia Closes Second Fund at US$950 Million Hard Cap (Asia)

L Capital Asia, the Asian private equity business sponsored by global luxury goods distributor LVMH Group, LVMH’s chairman and chief executive officer Bernard Arnault’s holding company Groupe Arnault and Malaysian conglomerate YTL, has made a first and final close on its second fund at US$950 million, reaching the fund’s hard cap. L Capital Asia II, which was originally targeting US$800… Read More

Russia’s Eruditor Group Raises US$12 Million from Intel Capital, Frontier Ventures and Runa Capital (CEE and CIS)

Venture capital firms Runa Capital and Frontier Ventures and Intel Capital, the venture capital and private equity arm of Intel Corporation, have invested US$12 million in Russia-based Eruditor Group, provider of an online platform that connects customers with private professionals such as doctors, tutors or beauticians. This is the company’s third round of funding, after having previously received USD$600,000 from… Read More