GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
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
Capital North Africa Venture Fund II Holds Its First Close (MENA)
Moroccan private equity firm Capital Invest’s Capital North Africa Venture Fund II, a fund focused on providing equity and quasi-equity financing to local small- and medium-sized enterprises, has held a first close with over EUR75 million (approximately US$99 million) in capital commitments. The fund has a final target size of EUR100 million. The European Investment Bank (EIB) and the European… Read More
Oaktree Capital Buys Majority Stake in Cogent Glass (Asia)
Oaktree Capital Management, a global alternative investment management firm, has invested approximately INR1.2 billion (approximately US$21 million) in India-based Cogent Glass, a pharmaceutical packaging company, acquiring a 60 percent stake in the company. Under the terms of the transaction, Oaktree’s portfolio company SGD, a French glass manufacturer for the cosmetic and pharmaceutical industries, has agreed to extend technology and marketing… Read More
Housing.co.in Secures US$2.5 Million from Nexus Venture Partners (Asia)
Indian venture capital firm Nexus Venture Partners has invested US$2.5 million in Indian online real estate search platform Housing.co.in as part of a pre-Series A round of financing. In addition to developing new technologies, Housing.co.in intends to use the funding to set up a data science lab to leverage the real estate data gathered by the platform and provide research… Read More
Actis Invests US$290 Million in Chilean Wind and Solar Energy Project (Latin America)
Africa, Asia and Latin America-focused private equity firm Actis has invested US$290 million for a 60 percent stake in Aela Energía, a Chilean wind and solar energy provider. Mainstream Renewable Power, a global wind and solar energy developer, invested alongside Actis and will own the remaining 40 percent stake in the company. Aela Energía intends to expand Chile’s renewable energy… Read More
Goldman Sachs Invests US$135 Million in ReNew Power (Asia)
The private equity arm of Goldman Sachs has invested US$135 million in ReNew Power, an Indian wind energy firm. This transaction follows two prior investments made by Goldman Sachs in ReNew in 2011, collectively totaling US$250 million and giving the firm a majority stake. ReNew intends to use this financing to scale up its energy production capacity to 1,000 MW… Read More
Saratoga Founders’ New Investment Fund Targets Indonesian Growth (Asia)
Indonesian private equity firm Saratoga Capital has listed an investment vehicle, Saratoga Investama Sedaya (SIS), on the Indonesia Stock Exchange, raising around US$151 million. The vehicle contains stakes in several of Saratoga Capital’s key holdings, including Adaro Energy and Tower Bersama Infrastructure. SIS sold 271 million new shares, representing approximately 10 percent of its post-issue share capital, at IDR5,500 per… Read More
BaltCap Invests in PostService Group (CEE and CIS)
BaltCap, a private equity and venture capital firm focused on the Baltic countries, has invested EUR1.5 million (approximately US$2 million) in PostService Group, a privately owned postal operator in Latvia. PostService Group operates forty parcel delivery and shipment terminals under the Mana Pasta Stacija brand name. BaltCap structured the investment through the BaltCap Latvia Venture Capital Fund. Read More
CITIC Private Equity Completes US$370 Million 3SBio Take-Private (Asia)
Chinese biotechnology company 3SBio has agreed to delist from the NASDAQ stock exchange after shareholders voted in favor of a take-private deal proposed by Chinese private equity firm CITIC Private Equity and the company’s CEO. The two parties, who own a combined 18 percent of 3SBio’s outstanding share capital, have agreed to buy the remaining shares at US$16.70 per share,… Read More
Foursan Group Exits Al-Isra Education & Investment (MENA)
Foursan Group, a private equity firm primarily focused on the Middle East region, announced its exit from Al-Isra Education & Investment, the Amman Stock Exchange-listed holding company that operates Jordan’s Al-Isra Private University. Al-Isra provides undergraduate and graduate degrees to nearly 6,500 students. Foursan Group originally invested in the company in 2005. Financial details of the transaction were not disclosed. Read More
Mitsubishi to Control Grain Company Los Grobo Ceagro do Brasil (Latin America)
Brazilian private equity firm Vinci Partners and Argentine agribusiness group Los Grobo have sold their 60 percent stake in Brazilian grain company Los Grobo Ceagro do Brasil to Japanese conglomerate Mitsubishi. Mitsubishi previously acquired a 20 percent stake in Ceagro in January 2012, resulting in a total ownership stake of 80 percent. The remaining 20 percent stake is owned by… Read More