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Korea’s IMM, Mirae Invest KRW250 Billion in POSCO Specialty Steel (Asia)
Korea-focused private equity firm IMM Private Equity and emerging markets investment manager Mirae Asset Private Equity have together agreed to acquire a 24 percent stake in Korea-based integrated steelworks company POSCO Specialty Steel for KRW250 billion (approximately US$223.2 million). According to a regulatory filing, the investors will subscribe to 8.6 million convertible preference shares with a conversion price of KRW29,000… Read More
Horizon Capital to Invest US$2.7 Million in Bostavan Wineries Group (CEE and CIS)
Horizon Capital, a private equity fund manager that focuses on investments in mid-cap companies in the CEE and CIS region, has invested US$2.7 million in Moldova-based winemaker Bostavan Wineries Group. The company, which produces one million bottles of wine a year, intends to use the capital injection to purchase modern grape-processing and wine-storage equipment. Horizon Capital previously made a US$15… Read More
The Abraaj Group to Invest in Turkish Student Accommodation Sector (CEE and CIS)
Global growth markets investor The Abraaj Group will acquire a significant stake in Republika Academic Apartments, consisting of two Turkey-based student accommodation assets with a total of 1,274 beds. The Abraaj Group invested alongside Republika’s developer BLG Capital, a Turkey-focused real estate private equity firm. Financial details of the transaction were not disclosed. Read More
Advent International Sells Deutek to Axxess Capital (CEE and CIS)
Global private equity firm Advent International has sold Romania-based paint manufacturer Deutek to CEE-focused investment manager Axxess Capital. The transaction was structured through Axxess Capital’s Emerging Europe Accession Fund. Advent International originally acquired the company in 2005. With Axxess Capital, Deutek intends to pursue new opportunities in the Romanian market. Financial details of the transaction were not disclosed. Read More
Tiantu Capital Makes the First Investment Through Its Sixth RMB Fund (Asia)
China-focused private equity and venture capital firm Tiantu Capital has invested RMB80 million (approximately US$13 million) in Ganqishi, a Chinese cuisine food chain. This was the first transaction structured through Tiantu Capital’s sixth RMB-denominated fund. Ganqishi, which operates 150 outlets in Hangzhou and offers mainly Chinese dumplings, intends to use the capital injection for business expansion. Read More
CDC and The Abraaj Group Invest in Rainbow Hospitals (Asia)
The United Kingdom’s development finance institution CDC and global growth markets investor The Abraaj Group will invest US$17.5 million in Rainbow Hospitals, an India-based 450-bed pediatric and maternity healthcare company. Rainbow Hospitals intends to use the new financing to expand beyond the state of Andhra Pradesh to cities such as Bangalore, Chennai and Pune. Read More
China Venture Capital Invests in Soil Remediation Firm (Asia)
China-focused venture capital firm China Venture Capital has agreed to invest RMB15m (approximately US$2.4 million) in China-based Jiangsu Suntime Environmental Remediation, a company specializing in contaminated soil remediation. The company has worked on soil remediation projects in Jiangsu, Gaohyou, Yangzhou and Changzhou. Read More
Cordiant Inks First Deal with Fourth Fund (Asia)
Cordiant Capital, a fund manager specializing in emerging markets credit and private equity investments, has provided a US$55 million loan to Sri Lanka-based microfinance institution Lanka Orix Micro Credit (LOMC). The transaction, which was made in partnership with the Dutch development bank FMO, was structured through Cordiant Emerging Loan Fund IV and was the first deal from this fund. LOMC… Read More
Northstar Moves into Real Estate Through Debut Deal (Asia)
Southeast Asia-focused private equity firm The Northstar Group has partnered with Singapore-based brokerage firm ERA Real Estate to lead a management buyout of ERA Real Estate from Hersing Corporation, a Singapore-based brand manager and service provider. Local media reports valued the deal at SGD$130 million (approximately US$102.5 million), which is understood to include some leverage. Northstar has created Realty Partners… Read More
Orchid Asia, GGV Capital Jointly Invest in Beauty Plus (Asia)
Venture capital firm GGV Capital and Asia-focused investment group Orchid Asia participated in a Series A investment in Beauty Plus, a China-based cosmetics retailer. Beauty Plus intends to use the capital injection for brand building and business development, with the goal to work towards an IPO. Financial details of the transaction were not disclosed. Read More
Private Equity Funds to Buy Stake in Janalakshmi Financial Services for INR3.5 Billion (Asia)
A consortium of private equity firms including Tata Capital, the private equity arm of the Indian conglomerate Tata Group, and Morgan Stanley Global Private Equity will acquire a significant minority stake in India-based microlender Janalakshmi Financial Services for INR3.5 billion (approximately US$56.8 million). Janalakshmi, a non-banking financial company focused on India’s urban poor, offers financial services to five million customers… Read More
Organica Water Closes Series B Financing (CEE and CIS)
Hungary-based wastewater treatment and recycling provider Organica Water has closed a Series B round of financing led by International Finance Corporation. Other participants in the round included Invesco WLR Private Equity Investment Management Company (Huaneng Invesco), a joint venture between Huaneng Capital, Invesco and Invesco affiliate WL Ross & Co., and existing investors environmental markets-focused private equity firm RNK Capital… Read More