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Vangoo Capital Leads Series C Financing for Chinese Luxury Goods Seller (Asia)
Japan-based private equity firm Vangoo Capital Partners led a Series C round investment for more than US$30 million in Secoo.com, a China-based luxury goods retailer. Existing shareholders IDG Capital Partners, a China-focused investment firm, and Ventech Capital, a venture investor, also participated in the round. Secoo.com, which sells secondhand branded-items online and at outlets in Beijing, Shanghai and Chengdu, intends… Read More
IFC, IFC Asset Management Company to Invest US$150 Million to Strengthen Colombia’s Infrastructure (Latin America)
International Finance Corporation (IFC) and two funds managed by IFC Asset Management Company (IFC AMC) have signed an agreement to invest US$150 million in Colombia-based oil and gas investor Pacific Infrastructure Ventures. IFC AMC’s investment will be structured through IFC Africa, Latin American and Caribbean Fund and IFC Global Infrastructure Fund. The capital injection is intended to help Pacific Infrastructure… Read More
Tiantu Capital Closes Sixth Fund at RMB1 Billion (Asia)
China-focused private equity and venture capital firm Tiantu Capital has reached a final close on its sixth RMB-denominated fund at RMB1 billion (approximately US$160 million). The new fund will target investments in the consumer sector. Read More
Motilal Oswal Private Equity Reaches Fourth Close for Second Fund (Asia)
Motilal Oswal Private Equity, a subsidiary of Indian financial services company Motilal Oswal Financial Services, has held a fourth close on its India Business Excellence Fund-II (IBEF-II) with INR6.3 billion (approximately US$103 million) in capital commitments. The fund recently received a commitment of US$25 million from International Finance Corporation, the private sector arm of the World Bank. IBEF-II, which is… Read More
Lighthouse Reaches US$60 Million First Close (Asia)
India-focused private equity fund manager Lighthouse Funds has held a first close on its second fund, India 2020 Fund II, with approximately US$60 million in commitments. Lighthouse reportedly received re-ups from all major institutional investors in its first fund, which raised US$100 million in 2008. Fund II has a final target size of US$125 million, and intends to invest US$5… Read More
H.I.G. Capital Acquires a Significant Stake in LG Sistemas (Latin America)
Global private investment firm H.I.G. Capital’s Brazilian affiliate has completed a strategic investment in LG Sistemas, a Brazil-based human resources software provider. LG Sistemas plans to use the investment to strengthen its R&D capabilities and broaden its portfolio of software solutions and services. Financial details of the transaction were not disclosed. Read More
BaltCap Exits Quattromed Laboratories Through Sale to Synlab (CEE and CIS)
BaltCap, a private equity firm focused on the Baltic States, has exited its investment in Medicap Holding, an Estonia-based medical laboratory services provider with operations in Estonia, Lithuania and Finland. Synlab, a Germany-based provider of laboratory services for human and veterinary medicine, acquired 100 percent of Medicap from Baltcap and individual shareholders. Financial details of the transaction were not disclosed. Read More
Capitalworks Raises ZAR2.7 Billion for South African Investments (Sub-Saharan Africa)
South African alternative asset management firm Capitalworks has raised ZAR2.7 billion (approximately US$275 million) for Capitalworks Private Equity Fund II. The fund, which was oversubscribed, attracted commitments from global institutional investors, high net-worth families and charities. Capitalworks plans to invest in mid-market South African companies operating in sectors such as healthcare, education, financial services and fast-moving consumer goods. Read More
China CYTS Tours Buys Back Wuzhen Stake from IDG (Asia)
China-focused investment firm IDG Capital Partners has sold its stake in Tongxiang Wuzhen Tourism Development, a travel agency based in Zhejiang province, to the investee’s parent company China CYTS Tours Holding for US$67.5 million. Following the transaction, CYTS Tours, which acquired stakes controlled by IDG vehicles Hao Tian Capital I and Hao Tian Capital II, increased its holding in Tongxiang… Read More
The Abraaj Group Exits Turkish Health Insurance Company Acıbadem Sağlık ve Hayat Sigorta (CEE and CIS)
Global growth markets investor The Abraaj Group has entered into an agreement to sell its 50 percent stake in Turkey-based health insurance provider Acıbadem Sağlık ve Hayat Sigorta (Acıbadem Sigorta) to Khazanah Nasional Berhad, the Government of Malaysia's strategic investment fund. Khazanah will acquire a combined 90 percent stake from both The Abraaj Group and Turkey’s Aydınlar family for a… Read More
Affinity Reaches US$2.5 Billion Second Close on Fund IV (Asia)
Asia-focused buyout fund manager Affinity Equity Partners has reached a second close on Affinity Asia Pacific Fund IV with US$2.5 billion in commitments. Investors in the fund, which reportedly has a hard cap of US$3.5 billion, include Washington State Investment Board, Montana State Investment Board, Maine Public Employees’ Retirement System and New Mexico State Investment Council. The fund recently completed… Read More
CLSA Capital Partners’ ARIA IV Funds Invest INR550 Million in Luminous Water Technologies (Asia)
CLSA Capital Partners, the alternative asset management arm of Hong Kong-based brokerage CLSA, has invested INR550 million (approximately US$9.2 million) in India-based Luminous Water Technologies (LWT). LWT designs, manufactures, distributes and services water purifier and water filter systems for residential and commercial use. CLSA Capital Partners structured the transaction through ARIA Investment Partners IV and ARIA Investment Partners IV (Non-US),… Read More