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ACON and CIPEF Acquire Vetra (Latin America)
Global emerging markets investor Capital International Private Equity Funds (CIPEF), via Capital International Private Equity Fund VI, and U.S. and Latin America-focused private equity investment firm ACON Investments, via ACON Latin America Opportunities Fund, have jointly acquired Vetra Energia, a Colombia-based, privately-held oil producer. Vetra controls exploration and production concessions in Colombia’s Putumayo, Llanos and Middle Magdalena Basins. Financial details… Read More
XSML Invests in Supermarket and Bakery Rehoboth (Sub-Saharan Africa)
Frontier markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based Rehoboth, a supermarket and bakery. Rehoboth intends to use the capital injection to purchase a larger building and new industrial bakery equipment. Financial details of the transaction, which was structured through XSML’s Central Africa SME Fund, were not disclosed. Read More
China’s SAIF Invests in COFCO-run Food Retail Site (Asia)
Asia-focused private equity firm SAIF Partners has invested in Womai.com, a China-based food and grocery e-commerce platform owned by Chinese food conglomerate COFCO. The investment was reported to be greater than US$10 million. Womai.com, which sells packaged food products such as snacks, infant foods and beverages, intends to use the new capital for marketing and network expansion across China. Read More
Ashmore Group Invests in Colombian Healthcare Company (Latin America)
Emerging markets investment manager Ashmore Group has invested in Diagnosticos Cardiologicos Especializados (Diacorsas), a private healthcare company in Colombia focused on the construction and operation of hospitals and specialty medical centers. Ashmore Group reportedly provided an initial loan for US$11.6 million, but did not indicate how much it would ultimately invest. The transaction, which was structured through Ashmore I –… Read More
Affinity Buys Majority Stake in Korean Music Platform for US$239 Million (Asia)
Asia-focused buyout fund manager Affinity Equity Partners has acquired a 52.6 percent stake in South Korea-based Leon Entertainment, a record label and digital music platform, for KRW265.9 billion (approximately US$237.7 million). Affinity bought the stake from SK Planet, a subsidiary of mobile service provider SK Telecom. As a result, SK Planet’s stake in Leon Entertainment has decreased to 15 percent.… Read More
AAF SME Fund Invests in Madagascar Organic Fertilizer Company (Sub-Saharan Africa)
Pan-Africa focused private equity group Databank Agrifund Manager Limited’s AAF SME Fund, a sub-fund of the Africa Agriculture Fund, which in turn is managed by private equity fund manager Phatisa, has invested in Madagascar-based Guanomad, a producer of guano-based organic fertilizer. The financing is intended to increase the reach of Guanomad’s fertilizer products. Financial details of the transaction, which included… Read More
Everstone Invests INR2 Billion in Hinduja Leyland Finance (Asia)
India-focused investment manager Everstone Capital has agreed to acquire a 15 percent stake in Hinduja Leyland Finance (HLF), a commercial vehicle financing arm of the India-based business conglomerate Hinduja Group, for INR2 billion (approximately US$33.6 million). HLF, a non-banking financial company jointly owned by commercial vehicle manufacturer Ashok Leyland and Hinduja Group, intends to use the new capital for company… Read More
Sequoia Leads Investment in Rongo360’s Series B Financing (Asia)
Venture capital firm Sequoia Capital China has led a US$30 million Series B investment round in Rong360.com, a Chinese online search engine that allows users to compare private lending products. Three venture capital funds from Rong360’s 2012 Series A round—Lightspeed China Partners, KPCB China and Zero2IPO Venture—also participated in the transaction. Rong360 plans to charge financial product providers for advertising… Read More
Providence to Invest in Hathaway Cable & Datacom (Asia)
Private equity firm Providence Equity Partners will increase its stake in India-based cable broadband service provider Hathaway Cable & Datacom by jointly acquiring a 3.55 percent stake for INR1.5 billion (approximately US$25.2 million) with the Raheja Group, Hathaway Cable & Datacom’s promoter group. Providence will contribute INR1.1 billion (approximately US$18.5 million), with the balance invested by the Raheja Group. Other… Read More
Multiples Alternate Asset Management Acquires Controlling Stake in Vikram Hospital (Asia)
Multiples Alternate Asset Management, a private equity firm specializing in mid- to late-stage equity investments, has acquired a controlling stake in India-based hospital chain Vikram Hospital for INR1.8 billion (approximately US$30.2 million) to INR1.9 billion (approximately US$31.9 million). As part of the transaction, Multiples bought ICICI Venture Funds Management’s 64 percent stake for a reported INR900 million (approximately US$15.1 million).… Read More
Baring India Invests in Manappuram Finance (Asia)
India-focused investment manager Baring Private Equity Partners India (Baring PE India) has acquired an additional one percent stake in Manappuram Finance, a non-banking financial company involved in gold finance that is listed on both the National Stock Exchange of India and the Bombay Stock Exchange, via open market transactions. Baring PE India started buying into the company in 2011, and… Read More
XSML Finances Expansion of Car Rental Services in Congo (Sub-Saharan Africa)
Emerging markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based Dalio, a car rental service provider that operates under the AVIS brand. Dalio intends to use the new financing for expansion plans in Kinshasa and Lubumbashi. Financial details of the transaction, which was structured through XSML’s Central Africa SME Fund (CASF), were not disclosed. Read More