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China Mengniu Dairy Increases Holding in China Modern Dairy (Asia)
Investment firms Kohlberg Kravis Roberts & Co. (KKR) and CDH Investments have sold their stakes in Chinese dairy products company China Modern Dairy to China Mengniu Dairy for a total transaction value of US$410 million. KKR’s stake was sold through its Advanced Dairy Company holding company for approximately US$310 million, while CDH sold its stake through its holding company, Crystal… Read More
Darby Private Equity Exits Sirma (CEE and CIS)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, has exited its investment in Turkish bottled water and beverage manufacturer Sirma, selling the company to French food and beverage manufacturer Danone. Darby originally structured a mezzanine investment in Sirma through its Converging Europe Mezzanine Fund in 2010, followed by a combined equity and mezzanine investment from the same… Read More
Leopard Cambodia Fund Exits Investment in Kulara Water (Asia)
Frontier markets investment firm Leopard Capital has exited its stake in Kulara Water, a Cambodian bottled water producer, to the company’s founding shareholder. Leopard Capital originally invested US$4.1 million in Kulara from its US$34 million Leopard Cambodia Fund. Financial details of the exit, which is Leopard’s fourth in Cambodia, were not disclosed. Read More
Gávea Investimentos Closes New Investment Round in Colombo (Latin America)
Brazilian private equity firm Gávea Investimentos has invested in Camisaria Colombo, a Brazilian menswear retailer. As part of the transaction, Gávea converted debentures acquired in 2011 into equity. While financial details of the transaction were not disclosed, Gávea reportedly invested BRL150 million (approximately US$75 million) in the company. Read More
Nexus Group Closes Fund II (Latin America)
Peru-based private equity firm Nexus Group has announced the closing of its second private equity fund, NG Capital Partners II, with US$600 million in committed capital. The fund will primarily invest in Peru, but may also invest in other Andean countries. The firm raised capital from international pension plans, sovereign wealth funds, corporations, funds of funds and family offices, with… Read More
Tata Capital Closes Tata Opportunities Fund at US$600 Million (Asia)
Tata Capital, the private equity arm of India’s Tata Group, has closed its India-focused Tata Opportunities Fund with US$600 million in capital commitments. The fund, which is sector-agnostic, will pursue growth and buyout deals in India. Tata Capital received commitments from institutional investors in North America, Asia and the Middle East, and is offering these limited partners the option to… Read More
TPG Increases Stake in Indian Bulk Container Manufacturer (Asia)
China-based alternative asset fund manager CDH Investments has invested RMB30 million (approximately US$4.8 million) in Dapu.com, a Chinese online retailer of home textiles. Dapu, launched in August 2012, sells bed sheets, towels and other textile products. The investment marks Dapu’s first institutional round of funding. Read More
Motilal Oswal Reaches Third Close of Second PE Fund at US$103.5 Million (Asia)
Motilal Oswal Private Equity, a subsidiary of Indian financial services company Motilal Oswal Financial Services, has held a third close on its India Business Excellence Fund-II (IBEF-II) with INR5.6 billion (approximately US$103.5 million) in capital commitments. The private equity fund plans to pursue investments in high growth companies and small- and medium-sized enterprises in India’s Tier II and III cities,… Read More
CITIC, CDH Generate 4x Return Through China Auto Parts Exit (Asia)
Chinese alternative investment firms CITIC Capital Partners and CDH Investments have sold their stakes in Nanjing Aotecar, a Chinese automotive components manufacturer, to private investment firm Tianyou Investment. CITIC and CDH originally invested in Aotecar, a former state-owned enterprise, in 2007. While financial details of the transaction were not disclosed, CITIC reportedly generated a return of 4x on its investment… Read More
Focus Media Shareholders Approve Take-Private Transaction (Asia)
Shareholders of Chinese digital media company Focus Media Holding have voted in favor of the company’s plan to delist from the NASDAQ stock exchange. Several private investment firms are involved in the transaction, including The Carlyle Group, FountainVest Partners, CITIC Capital Partners, China Everbright and Fosun International. The deal, which is expected to close in May 2013, is valued at… Read More
Standard Chartered Private Equity Exits US$75 Million Mezzanine Investment in Bahrain’s Hassan Mohammed Jawad & Sons (MENA)
Standard Chartered Private Equity Limited (SCPEL), the private equity arm of Standard Chartered Bank, has exited its holdings in Bahrain-based retailer Hassan Mohammed Jawad & Sons. SCPEL originally invested US$75 million in mezzanine financing in the company, which operates approximately 550 stores in the Middle East and India, in September 2008. Financial details of the transaction were not disclosed. Read More
Open English Raises US$65 Million (Latin America)
Panama-headquartered English-language learning service Open English has raised US$65 million in its Series D venture capital financing round led by technology-focused private equity and venture capital firm Technology Crossover Ventures. Redpoint Ventures and Insight Venture Partners also participated in the transaction. The funding is intended to finance Open English’s expansion into new geographies within Latin America in 2013. Open English… Read More