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Warburg Invests US$600 Million in African Oil and Gas (Sub-Saharan Africa)
Global private equity firm Warburg Pincus has agreed to lead an investment of up to US$600 million in Delonex Energy, an energy exploration and production company focused on Central and East Africa. Warburg Pincus, which recently closed its eleventh fund on US$11.2 billion, will become the largest shareholder in the company. Delonex Energy intends to access opportunities in the East… Read More
Capital International Backs Eaton with US$195 Million (Sub-Saharan Africa)
Emerging markets investment manager Capital International has invested US$195 million in Africa-focused telecommunications services company Eaton Towers. The transaction was structured through Capital International Private Equity Fund (CIPEF), and represents Eaton’s third round of funding. Capital International, which holds a majority stake in Eaton, previously invested US$150 million in the company in 2011. The new capital will be used in… Read More
Capital International Backs Eaton with US$195 Million (Sub-Saharan Africa)
Emerging markets investment manager Capital International has invested US$195 million in Africa-focused telecommunications services company Eaton Towers. The transaction was structured through Capital International Private Equity Fund (CIPEF), and represents Eaton’s third round of funding. Capital International, which holds a majority stake in Eaton, previously invested US$150 million in the company in 2011. The new capital will be used in… Read More
IDG Invests US$4 Million in China WeiPass Series A Round (Asia)
China-focused investment firm IDG Capital Partners has invested US$4 million in the Series A financing round of Chinese mobile app developer China WeiPass. WeiPass developed a smartphone app for payment verification that allows businesses and customers to earn and redeem coupons and confirm payments. IDG Capital Partners is a joint venture between media company International Data Group (IDG) and global… Read More
Eredene Capital Sells 6.8 Percent Stake in Ocean Sparkle (Asia)
Eredene Capital, an independent investment firm that specializes in Indian infrastructure, sold its 6.8 percent stake in Ocean Sparkle, an Indian port operations and marine services company, to Mauritius-based Infrastructure India Holdings Fund for GBP8.2 million (approximately US$12.8 million). The stake was held by Eredene subsidiary West Coast Port. Eredene originally invested GBP7.3 million (approximately US$10.9 million) in Ocean Sparkle… Read More
BanyanTree Growth Capital II Invests US$8.6 Million in Renewable Power Firm Atria (Asia)
BanyanTree Finance, a private equity firm that focuses on middle market companies in India, has invested INR500 million (approximately US$8.6 million) in Atria Brindavan Power, an India-based renewable power generation company. The investment was structured through BanyanTree Growth Capital II, which announced its first close in July 2012 with nearly US$100 million in commitments. Atria Brindavan Power has an operating… Read More
Tar Heel Backs Rockfin in First Investment from Fund II (CEE and CIS)
Polish private equity firm Tar Heel Capital has acquired a 60 percent stake in Polish hydraulic oil systems manufacturer Rockfin. The investment, which marks the first from the EUR50 million Tar Heel Capital II fund, is intended to finance the development of Rockfin’s production plant as well as potential acquisitions. Financial details of the transaction were not disclosed. Read More
PAG Agrees to US$150 Million Investment in Chinese Property Developer (Asia)
Asia-focused investment firm PAG has agreed to invest up to US$150 million in Chinese shopping mall operator Zall Development Group. PAG Alliance Asia Opportunity Fund will purchase US$100 million in convertible bonds issued by Zall, with the option to purchase up to US$50 million in additional convertible bonds. If both bond issues are purchased and converted, PAG will own a… Read More
LVMH-backed L Capital Asia Raises US$1 Billion Fund (Asia)
L Capital Asia, the private equity fund sponsored by global luxury goods distributor LVMH Group, Groupe Arnault and YTL, has raised US$1 billion for its second Asia-dedicated fund. The regional fund will focus particularly on China, to which it plans to devote 45 to 50 percent of its corpus. Target sectors for the fund will include fashion, leather goods, beauty… Read More
Lamoda Gets US$130 Million from Investment Consortium (CEE and CIS)
Global private equity firm Summit Partners, American industrial group Access Industries and German conglomerate Tengelmann Group have collectively invested US$130 million in Russian online shopping service Lamoda. The investment is intended to increase Lamoda’s brand portfolio as well as expand its Russia-focused home delivery service, Lamoda Express. Lamoda was launched in 2011 with support from German venture incubator Rocket Internet. Read More
China E-Commerce Firm Lists on NYSE (Asia)
Chinese e-commerce company LightInTheBox has held an initial public offering on the New York Stock Exchange, reportedly raising US$79 million. The listing marks the first initial public offering of a Chinese company on a U.S. stock exchange in 2013 to date. The company is backed by China-focused private equity and venture capital firms TrustBridge Partners, Ceyuan Ventures and GSR Ventures,… Read More
ACON Investments Exits Investment in InverCap (Latin America)
ACON Investments, a private equity firm focused on the United States and Latin America, has exited its investment in Mexico’s InverCap Holdings, which manages independent Mexican pension fund manager Afore InverCap, in a company buyback. ACON originally invested in InverCap via a mix of debt and warrants in October 2010 through its ACON Latin America Opportunities Fund (ALAOF). ACON previously… Read More