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AVTEC Announces Exit by Actis and Private Equity Investment by Warburg Pincus (Asia)
Global private equity firm Warburg Pincus has acquired a minority stake in AVTEC, an Indian manufacturer of engineering products and automotive components. As part of the investment, Warburg purchased the stake previously held by emerging markets investment firm Actis, which invested US$17.8 million in AVTEC in 2005. Financial details of the transaction were not disclosed. Read More
Cordiant Capital Holds First Close at US$250 Million (Pan-Emerging Markets)
Emerging markets-focused debt and equity fund manager Cordiant Capital has held a first close on its fourth debt fund, Cordiant Emerging Loan Fund IV, with US$250 million in commitments. The fund, which has raised capital from insurance companies, pension funds and sovereign wealth funds, will focus on issuing senior secured loans to borrowers across all emerging markets. The fund is… Read More
Goldman and GIC Jointly Invest US$100 Million in iKang (Asia)
The private equity arm of investment bank Goldman Sachs and Government of Singapore Investment Corporation (GIC) have invested US$100 million in iKang Guobin, a Chinese healthcare company. iKang, which operates healthcare treatment centers in China, plans to use the capital to accelerate the company’s expansion into third- and fourth-tier Chinese cities. Read More
CDIB Backs Online Furniture Retailer Meilele Through US$19 Million Bond Issue (Asia)
CDIB Capital, the overseas private investment arm of Taiwan’s China Development Financial merchant bank, has invested US$19 million in Chinese furniture retailer Meilele by subscribing to a convertible bond issue. Meilele operates a consumer-to-consumer online retail service as well as 50 stores within China. Separately, CDIB Capital has invested an undisclosed amount in United Arab Emirates-based hotel operator Flemingo International. Read More
Hony Capital Acquires 10 Percent Stake in Chinese Property Developer (Asia)
Chinese private equity firm Hony Capital has purchased a 10 percent stake in Chinese property developer Chengtou Holding. Hony purchased 299 million shares in Chengtou, which is listed on the Shanghai Stock Exchange, for RMB1.8 billion (approximately US$290 million). In addition to property development, Chengtou also has an environmental protection business that converts municipal waste to energy. Read More
KKR to Acquire Alliance Tire Group from Warburg Pincus (Asia)
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has agreed to acquire a controlling stake in Indian tire manufacturer Alliance Tire Group (ATG) from global private equity firm Warburg Pincus. ATG specializes in the manufacture and development of off-road tires for the construction, forestry and agricultural industries, with manufacturing facilities in India and Israel. Financial details of the transaction… Read More
Enterprise Investors Makes 9x on Kruk (CEE and CIS)
Poland-based private equity and venture capital firm Enterprise Investors (EI) has exited its investment in Kruk, a Polish debt collection agency. EI sold shares equivalent to a 24.8 percent stake in the company on the Warsaw Stock Exchange, reportedly achieving a 9x cash-on-cash return multiple. EI originally invested in Kruk in May 2003. Financial details of the transaction were not… Read More
EMX Capital Raises US$192.3 Million for Buyouts and Growth Capital in Mexico (Latin America)
Mexican private equity firm EMX Capital has announced the final close of EMX Capital Partners I with US$192.3 million in committed capital. The fund was raised through two parallel vehicles—a MXN1.5 billion (approximately US$124.1 million) vehicle for pension fund investors from Mexico and a US$68.2 million vehicle for local and international investors. The fund will target mid-size Mexican companies and… Read More
Baring Private Equity Partners India Invests Additional US$18 Million in Dabur (Asia)
India-focused private equity firm Baring Private Equity Partners India (BPEP India) has invested US$18 million in Indian consumer products manufacturer Dabur India, its second investment in the company. In late 2012, BPEP India invested around US$45 million in the company, which is listed on both the Bombay Stock Exchange and National Stock Exchange, for a 1 percent equity stake. Following… Read More
TMG Capital Acquires NeuroTech (Latin America)
Brazilian private equity firm TMG Capital has invested in NeuroTech, a Brazilian software company. NeuroTech provides software services to clients to help them gather information from company databases. Financial details of the transaction were not disclosed. Read More
Ratnakar Bank Raises US$60 Million (Asia)
Ratnakar Bank, an Indian commercial banking institution, has raised INR3.24 billion (approximately US$60 million) from a consortium of investors. International Finance Corporation, the private sector development arm of the World Bank Group, and investment firms Aditya Birla Private Equity, Faering Capital, ICICI Investment Management, IDFC Alternatives and Ascent Capital all participated in the current round. Ratnakar had previously raised capital… Read More
Moroccan Infrastructure Fund Exits Osead Maroc Mining (MENA)
Moroccan Infrastructure Fund (MIF), a fund co-managed by Africa-focused private equity firm Emerging Capital Partners (ECP) and Moroccan private equity firm Attijari Invest, has exited its investment in Moroccan mining company Osead Maroc Mining (OMM). OMM is the controlling shareholder of Compagnie Minière de Touissit (CMT), a Moroccan lead producer and exporter, which MIF acquired in November 2007. While financial… Read More