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Total and Beltone Private Equity Partner Up (MENA)

Beltone Private Equity (BPE), an affiliate of Egypt-based Beltone Financial Holding, recently acquired a stake in Total Egypt, the Egyptian subsidiary of French oil company Total. Total and BPE-managed funds Beltone Capital and BPE Energy will jointly acquire global energy provider Chevron’s Egypt-based retail and aviation businesses, including 66 service stations, two oil depots and aviation fuel operations. The transaction,… Read More

TPG to Invest US$108.6 Million in Xinyuan Real Estate (Asia)

Global private investment firm TPG has agreed to invest US$108.6 million in China-based residential real estate developer Xinyuan Real Estate for about a 20 percent stake. Through the transaction, TPG will purchase convertible notes worth US$75.8 million and common shares worth US$32.9 million. Xinyuan intends to use the capital injection for land acquisition and to support company development. Read More

TPG Takes Stake in Shriram City Union (Asia)

Global private investment firm TPG has acquired a 22.7 percent stake in India-based non-banking financial services company (NBFC) Shriram City Union Finance. The transaction, which was structured through TPG India Investment I, involved the merger of Shriram Enterprise Holdings with Shriram Retail Holdings, and the subsequent merger of the consolidated company with Shriram City Union. Through the deal, Shriram Group… Read More

ING to Sell ING Life Korea to MBK Partners (Asia)

Global financial institution ING has reached an agreement to sell ING Life Korea, its wholly owned life insurance business in South Korea, to North Asia-focused private equity firm MBK Partners for a total purchase price of about KRW1.8 trillion (approximately US$1.6 billion). Of the total purchase price, MBK will reportedly fund KRW800 billion (approximately US$712.2 million), with the rest borrowed… Read More

EBRD, RDIF and CapMan Russia Invest in Russian IT Outsourcing Provider MAYKOR (CEE and CIS)

Development finance institution European Bank for Reconstruction and Development (EBRD), Russian sovereign wealth fund the Russian Direct Investment Fund (RDIF) and private equity fund manager CapMan Russia will invest US$100 million in Russia-based IT outsourcing provider MAYKOR. RDIF will invest US$50 million, with EBRD and CapMan Russia, structured through CapMan Russia Fund II, contributing the remainder. MAYKOR intends to use… Read More

KV Asia Capital Announces Closing of KV Asia Capital Fund I at US$263 Million (Asia)

Singapore-based private equity firm KV Asia Capital has announced the final close of its first fund, KV Asia Capital Fund I, at US$263 million, exceeding its US$250 million target. The fund, which held its first close at US$100 million in October 2012, will focus on investment opportunities in Southeast Asia, primarily in Indonesia, Malaysia and Singapore. Investors in the fund… Read More

Baring Private Equity Asia to Acquire a 41.8 Percent Stake in Hexaware (Asia)

Asia-focused private equity firm Baring Private Equity Asia (BPEA) has signed definitive agreements with Hexaware Technologies, a global provider of IT and business process outsourcing services, to purchase a 41.8 percent stake in Hexaware for INR15.8 billion to INR16.9 billion (approximately US$242 million to US$260 million). BPEA will buy approximately 125 million Hexaware shares for INR126 or INR136 (approximately US$1.93… Read More

Nexus Group Acquires Peru-Based San Miguel Industries (Latin America)

Peru-focused private equity firm Nexus Group has acquired a 99.9 percent stake in Peru-based San Miguel Industrias PET, a manufacturer and distributor of polyethylene terephthalate (PET) containers in Peru with operations in El Salvador, Panama, Ecuador and Colombia. PET is a material commonly used in plastic bottles. Financial details of the transaction were not disclosed. Read More

PhillipCapital Takes Stake in Indonesian Equipment Finance Business (Asia)

Asian financial house PhillipCapital has acquired a 9.7 percent stake in Indonesia-based heavy equipment financer Intan Baruprana Finance (IBF), the financing arm of equipment distributor Intraco Penta, through a rights issue. Intraco Penta will continue to hold a majority stake of 79.7 percent, with Intra Trading, another affiliate of the Intraco Penta, taking a 10.6 percent stake. Financial details of… Read More

Taggo Raises Series A Funding Round (Asia)

Singapore, India and Southeast Asia-focused venture capital firm Jungle Ventures and SPRING SEEDS Capital, the start-up-focused investment arm of SPRING Singapore, have led a Series A investment in Taggo, a Singapore-based marketing platform that helps companies turn their Facebook pages into loyalty program “fan clubs.” This financing round, which was reportedly close to US$1 million, follows an earlier seed round… Read More

Aavishkaar Backs Indian ATM Outsourcing Company EPS (Asia)

Aavishkaar Venture Management, a venture capital firm focused on India’s rural areas, has invested US$6 million in a second round of funding for India-based payments system Electronic Payment and Services (EPS). The transaction was structured through Aavishkaar Goodwell II and Aavishkaar II. EPS intends to use the capital injection, along with the Aaviskhaar’s original US$4 million investment made in 2012,… Read More

IDG Capital Leads Investment in Chinese 3D Online Game Developer (Asia)

China-focused investment firm IDG Capital Partners has led a Series A round of financing in China-based online game developer Ejoy for a reported RMB100 million (approximately US$16.2 million). The company intends to use the new financing to develop 3D online games. Read More