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Lereko Metier Capital Growth Fund Acquires the South Africa-Based Institute of Marketing Management Group (Sub-Saharan Africa)
South Africa-based Lereko Metier Capital Growth Fund (LMCGF), which focuses on mid-cap buyout and growth opportunities in Southern Africa, has acquired South Africa-based Institute of Marketing Management (IMM) Group. In partnership with Dutch development bank FMO and South African investment manager Ke Nako Capital, LMCGF has agreed to commit ZAR200 million (approximately US$22 million) to the company as part of… Read More
7 Days Group Announces Completion of Merger (Asia)
Chinese economy hotel chain 7 Days Group Holdings is set to be privatized after shareholders voted in favor of a private equity-backed management buyout that values the company at around US$688 million. The buyer consortium, including global alternative asset manager The Carlyle Group, private equity and venture capital firm Sequoia Capital, pan-emerging markets private equity firm Actis and the company’s… Read More
Nexxus Capital Announces Commitments of US$430 Million for Sixth Fund (Latin America)
Mexico-based private equity firm Nexxus Capital has raised its sixth fund, Nexxus Capital VI, with commitments of approximately US$430 million. The fund is split into two vehicles to separately accommodate commitments from international investors and domestic pension funds. Nexxus Capital intends to invest in middle market growth companies in Mexico. Read More
Bancroft Invests in Tatilsepeti.com (CEE and CIS)
Central and Eastern Europe-focused private equity capital fund management firm Bancroft Private Equity has invested in Tatilsepeti.com, an online Turkish tourism company. The transaction was structured through Bancroft 3. Tatilsepeti.com claims over 18 million annual visitors, and hopes to rank among the major international tourism portals. Financial details of the transaction were not disclosed. Read More
USAID Launches Pakistan Private Investment Initiative with The Abraaj Group and JS Private Equity (MENA)
The U.S. Agency for International Development (USAID), global growth market investor The Abraaj Group and Pakistan-based asset manager JS Private Equity Management have announced the Pakistan Private Investment Initiative, which will launch two new private equity funds focused solely on investing in Pakistan’s small- and medium-sized enterprises. USAID will provide a seed investment of US$24 million in each of the… Read More
Terranum Capital Closes First Latin America Real Estate Fund with US$235 Million in Commitments (Latin America)
Latin American real estate investment firm Terranum Capital has completed its inaugural fundraising effort, reaching a final close of US$235 million in committed capital on its Latin America Real Estate Fund. Investors in the fund include pension funds in Colombia and Peru, Latin American family offices and institutional investors in the United States and Europe. Terranum Capital intends to invest… Read More
ChrysCapital Exits Ahmednagar Forgings (Asia)
India-focused investment firm ChrysCapital Partners has exited Ahmednagar Forgings (AFL), an India-based manufacturer of automotive components, for INR363 million (approximately US$6.06 million) through a series of bulk share sales on the open market. ChrysCapital originally invested INR295 million (approximately US$7.5 million) in AFL in 2008. Read More
IL&FS and IDFC Exit Central UP Gas in Strategic Sale to Indraprastha Gas (Asia)
Alternative asset manager IDFC Private Equity, India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) and development finance institution Asian Development Bank (ADB) have sold a 50 percent stake in Central UP Gas (CUGL) to Indraprastha Gas, which supplies fuel in Delhi and surrounding neighborhoods, for about INR700 million (approximately US$11.7 million). CUGL operates a gas distribution network in… Read More
Envision Capital Closes Second RMB Fund (Asia)
China-based growth private equity firm Envision Capital has held a final close on its second RMB-denominated fund. The fund raised RMB412 million (approximately US$66.5 million) in total capital commitments. Envision’s previous fund, the Envision High Growth Fund 2009, closed in October 2009 with RMB500 million (approximately US$73 million) in commitments. Read More
Clearwater Partners with PHL Finance in INR3 Billion Land Deal (Asia)
Clearwater Capital, an investment firm focused on credit and special situations in Asia, and the Piramal Group’s non-banking financial company PHL Finance have jointly invested INR3 billion (approximately US$50 million) in VGN Developers, an India-based real estate developer. VGN used the financing, which was reportedly structured through non-convertible debentures, to acquire a land parcel in Chennai’s Guindy area. Read More
Actis Invests US$102 Million in Egyptian Snack Food Business (MENA)
Pan-emerging markets private equity firm Actis has invested US$102 million in Edita Food Industries, an independent snack food business based in Egypt. Edita sells around 2.5 billion pieces of croissants, cakes and wafers annually to consumers in Egypt and other markets in North Africa. The transaction was reportedly structured through Actis Emerging Markets 3 and Actis Global 4. Read More
Unicorn Capital Partners Invests in Constanta Group (CEE and CIS)
Unicorn Capital Partners, a Russia-based infrastructure sector buyout fund, has acquired a controlling interest in Constanta Group, a designer and manufacturer of glass façade systems in Russia. Constanta was formed in 2011 through a merger of three Russian manufacturers. Financial details of the transaction were not disclosed. Read More