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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
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