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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
The Abraaj Group Exits Investment in Data Center Builder in Thailand (Asia)
Pan-emerging markets investment firm The Abraaj Group has sold its stake in Unitrio Technology Limited (UTL), a Thai designer and builder of data center facilities, to Japanese engineering firm NTT Facilities, a member of the Japanese Nippon Telegraph and Telephone Corporation. Abraaj originally invested in UTL through its South East Asia Fund in 2010. Financial details of the transaction were… Read More
China New Enterprise Investment (CNEI) Exits Liyuan Aluminum (Asia)
China-focused growth capital investor China New Enterprise Investment (CNEI) has sold its stake in Jilin Liyuan Aluminum , a Chinese manufacturer of aluminum extrusion products, for a total value US$77.2 million on the Shenzhen SME Board. CNEI originally invested US$7.5 million in Liyuan for a 16 percent stake in July 2008, and the company held an initial public offering on… Read More
General Atlantic Invests in SMILES’S IPO (Latin America)
Global private equity firm General Atlantic has invested BRL400 million (approximately US$199 million) in SMILES, a subsidiary of Brazilian airline GOL Linhas Aéreas Inteligentes. The transaction took place as part of SMILES’ initial public offering on the BM&FBOVESPA exchange, which raised BRL953.6 million (approximately US$474 million) after commissions and expenses. The investment is intended to fund the advance purchase of… Read More
IDFC, Capital International Exit India’s Manipal Group Via Share Buyback (Asia)
IDFC Alternatives, the alternative asset management unit of India’s IDFC, and emerging markets private equity firm Capital International have exited their holdings in Manipal Education and Medical Group International (MEMG), an Indian operator of educational institutions and hospitals. MEMG raised US$260 million in debt financing to buy back the shares held by the two firms. Capital International originally invested US$40… Read More
Central Africa SME Fund Reaches Final Close at US$19 Million (Sub-Saharan Africa)
Central Africa-focused private equity fund manager XSML has announced the closing of its Central Africa SME Fund with US$19 million in committed capital. The fund plans to pursue investments in small- and medium-sized enterprises in the Democratic Republic of the Congo and the Central African Republic. To date, the fund, which is sector-agnostic, has made 12 investments—9 in the Democratic… Read More
CDH Investments Backs Online Home Textile Products Seller Dapu (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
SMC Capital China Invests US$5 Million in Dalian Senyint (Asia)
SMC Capital China, the China-focused growth capital platform of the Simon Murray Group, has invested RMB30 million (approximately US$5 million) in Dalian Senyint International Digital Medical System, a Chinese IT solutions provider for hospitals. The Series A investment is intended to further develop the company’s hospital IT solutions products. SMC Capital China manages both U.S. dollar and local currency funds… Read More