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IL&FS Exits Machine Tool Manufacturer for 2.91x Return (Asia)
India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) has exited its 19.3 percent stake in Bharat Fritz Werner (BFW), a tool manufacturing company with facilities in India and Germany, for INR711.9 million (approximately US$11.8 million). IIML has reportedly generated an internal rate of return of 15 percent and a multiple of 2.91x on its 2005 INR245 million (approximately… Read More
The Abraaj Group Backs Tunisian Plastic Injection Company PEC (MENA)
Global growth markets investor The Abraaj Group has backed Tunisia-based Plastic Electromechanic Company (PEC), a plastic injection company that serves clients in the automotive, electrical and healthcare industries. The investment will allow PEC to expand further into Europe and the Middle East, launch new products and make acquisitions. Financial details of the transaction were not disclosed. Read More
First Reserve-Backed KrisEnergy Debuts on SGX-ST (Asia)
Southeast Asia-focused oil and gas company KrisEnergy, which is backed by global private equity and infrastructure investment firm First Reserve, closed its first day of trading on the Singapore Exchange (SGX-ST) at SGD1.155 (approximately US$0.91) per share, a five percent increase from its offering price of SGD1.10 (approximately US$0.87). The company sold 151.99 million shares publicly and an additional 94.16… Read More
Gulf Capital Makes a US$15 Million Loan Investment in TurkNet (CEE and CIS)
Gulf Capital, a United Arab Emirates-based alternative investment firm, has completed a US$15 million investment in Turkey-based telecommunications service provider TurkNet İletişim Hizmetleri (TurkNet). The transaction was structured through Gulf Credit Partners, Gulf Capital’s credit and mezzanine fund. TurkNet provides broadband internet, long distance telephone and hosting services in Turkey. Read More
Brazil’s Oi Selling Underwater Fiber Optic Unit to BTG Pactual (Latin America)
Brazil-based telecommunication services provider Oi has agreed to sell its underwater fiber optic cable unit Brasil Telecom Cabos Submarinos and its subsidiaries (jointly known as GlobeNet) to Brazilian investment bank BTG Pactual for BRL1.7 billion (approximately US$768 million). GlobeNet operates assets located in Venezuela, Colombia, Bermuda and the United States. The transaction will be structured through BTG Pactual Infraestrutura II… Read More
Hony Capital Completes Divestment of Jiangsu Phoenix Publishing (Asia)
China-focused private equity firm Hony Capital has divested its entire holding in Jiangsu Phoenix Publishing & Media (Phoenix). Hony acquired 150 million shares in Phoenix for RMB481 million (approximately US$77.8 million) in May 2008, and in May 2013, began the divestment process, selling 25 million shares of Phoenix for a total transaction value of roughly US$32.3 million to US$35.9 million.… Read More
MCI Invests in Answear.com (CEE and CIS)
Central and Eastern Europe-focused private equity group MCI Management has acquired a minority stake in Wearco, the company that operates online clothing store Answear.com. Answear.com intends to use the capital injection to grow its market share in Poland and neighboring countries. Financial details of the transaction, which was structured through the MCI.TechVentures Fund, were not disclosed. Read More
Southern Capital Closes Fund III (Asia)
Southeast Asia-focused private equity buyout firm Southern Capital Group (SCG) has reportedly closed its third fund with US$408 million in commitments, surpassing its target of US$350 million. SCG targets middle market businesses with enterprise values of between US$20 million and US$200 million. SCG’s prior funds include Mulberry Asia Fund II, which closed in 2009 on US$300 million. Read More
Aberdare Ventures Invests in Brazilian Pharmacy Benefits Firm (Latin America)
Healthcare-focused venture capital firm Aberdare Ventures and U.S.-based hedge fund Valiant Capital Management have jointly acquired a 45 percent equity stake in Brazilian pharmacy benefits company ePharma for an estimated BRL169 million (approximately US$74.6 million). Founded in 1999, ePharma serves as an intermediary between health insurance companies, employers and pharmaceutical companies. Read More
CNEI Invests US$9.7 Million in Chinese Prawn Company (Asia)
China New Enterprise Investment (CNEI), a China-focused growth capital fund manager, has invested US$9.7 million in Zhanjiang Newpro Foods (Newpro), a China-based company involved in the breeding, culturing, farming and processing of prawns. Along with the investment, CNEI has introduced international experts to Newpro for future breeding of pathogen-free shrimp. Read More
Flipkart Raises US$200 Million in Funding from Existing Investors (Asia)
India-focused online retailer Flipkart has raised US$200 million in its fifth round of funding from existing investors, including Accel Partners, Tiger Global and global multi-family office ICONIQ Capital. South Africa-based multinational media company Naspers also participated in the round. In 2012, Flipkart raised a reported US$150 million in a Series D round led by Naspers. Flipkart intends to use the… Read More
Vaultize Raises Venture Capital Funding from Tata Capital Innovations Fund (Asia)
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has invested in India-based file sharing, sync and mobility vendor Vaultize. The new capital will be used to help the company scale up its go-to-market strategy, including expansion in the United States and Europe. Financial details of the transaction, which was structured through Tata Capital Innovations Fund, were… Read More