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Clearwater Exits Gujarat-based Sayaji Hotels (Asia)
Asia-focused special situations investor Clearwater Capital Partners has sold its entire 27.16 percent stake in Indian hotel management chain Sayaji Hotels to the Dhanani family, the chain’s promoters. Clearwater disposed of its 4.75 million equity shares at INR130 per share (approximately US$2.44), valuing the transaction at approximately US$11.6 million. Clearwater originally invested in Sayaji in 2006. Read More
Baring Private Equity Asia Exits Taiwan-listed Airtac (Asia)
Baring Private Equity Asia (BPEA), an Asia-focused private equity fund manager, has fully divested its holdings in Airtac International Group, a China-based manufacturer of pneumatic components. BPEA, which first invested in Airtac in 2006 through its fourth private equity fund, sold its entire shareholding on the Taiwan Stock Exchange for TWD1.89 billion (approximately US$63.8 million). Read More
Warburg Pincus Starts Exiting Havells (Asia)
Global private equity firm Warburg Pincus has begun exiting its holding in Indian electrical equipment company Havells India. Warburg, which held a 14 percent equity stake in Havells, sold 7 million shares (5.6 percent of Havells’s total equity) on the Bombay Stock Exchange for INR4.55 billion (approximately US$85.5 million). The sale was executed through Warburg’s subsidiary Seacrest Investments. Read More
TVM Capital MENA Announces New Investment in Home Care Service (MENA)
Healthcare and pharmaceutical sector-focused private equity investor TVM Capital MENA has acquired a majority stake in United Arab Emirates-based home care services company Manzil Health Care Services. Manzil provides individualized nursing care, medical care and rehabilitation care services, and the company plans to enhance and expand its offerings throughout the region. Financial details of the transaction were not disclosed. Read More
Delta Partners Capital Announces the US$100 Million First Closing of its Second Fund (Pan-Emerging Markets)
Delta Partners Capital, an advisory and investment firm headquartered in the United Arab Emirates, has announced the first closing of its Emerging Markets TMT Growth Fund II with US$100 million in commitments. The fund, which is targeting US$300 million in total commitments with a US$500 million hard cap, will invest in telecommunications, media and related technology companies in Africa, Central… Read More
Blackstone Announces Acquisition of a Majority Stake in Maldivian Air Taxi and Trans Maldivian Airwa
Global investment and advisory firm The Blackstone Group has announced the acquisition of a majority stake in two seaplane operators in the Maldives, Maldivian Air Taxi and Trans Maldivian Airways, through one of its private equity funds. The two airlines operate a combined total of 44 seaplanes catering to the Maldivian tourism industry. Financial details of the transaction were not… Read More
RRJ Capital Buys Hong Kong-based Children’s Wear Retailer Kingkow (Asia)
Asia-focused private equity firm RRJ Capital has purchased a 75 percent stake in Hong Kong’s SKC Group, the owner of children’s wear retailer Kingkow. Kingkow operates stores in Hong Kong, mainland China, Macau, Taiwan, Singapore and Thailand. Financial details of the transaction were not disclosed. RRJ has reportedly raised US$3.5 billion for its second Asia-focused buyout fund, RRJ Capital Master… Read More
Credence Fund II Achieves Final Close at SGD200 Million (Asia)
Singapore-based private equity firm Credence Partners has held a final close on its second Southeast Asia-focused private equity fund, Credence Fund II, with SGD200 million (approximately US$161.6 million) in commitments. The fund will invest in growth stage companies in the manufacturing, information communication technologies, services, logistics and consumer sectors. Since its first close in July 2012, the fund has invested… Read More
Abraaj Backs Ugandan Pharmacy Chain (Sub-Saharan Africa)
Emerging markets private equity firm The Abraaj Group has invested in Ugandan pharmacy retail chain Vine Pharmaceuticals through its US$105.4 million Africa Health Fund. Vine currently operates 21 stores, and Abraaj’s investment is intended to help Vine gain a larger share of the Ugandan market. Financial details of the transaction were not disclosed. Read More
Amethis Finance Holds First Close for Africa Fund (Africa)
Africa-focused private investment fund Amethis Finance has held a first close with US$140 million in equity commitments. Shareholders in the fund include the Edmond de Rothschild group, other banks and financial institutions, corporates and family offices from the United States, Europe and the Mediterranean. Additionally, the Overseas Private Investment Corporation (OPIC), the development finance institution of the U.S. government, has… Read More
WAMEX Announces Investment in Productos Medix (Latin America)
WAMEX Private Equity, a Mexican private equity firm, has invested US$32 million in Productos Medix, a Mexican pharmaceuticals manufacturer. Productos Medix has a portfolio of over 50 pharmaceutical products, prescribed throughout Mexico, Colombia and Argentina, for patients with obesity-related problems. The investment was made via WAMEX’s Multinational Industrial Fund II (MIF II), a US$160 million Mexico-focused private equity fund. Read More
ePlanet Capital Sells Sree Ramicides to SDS Biotech (Asia)
Global venture and growth capital investor ePlanet Capital has sold its stake in Indian chemical manufacturer Sree Ramicides Chemicals to Japanese agrochemical company SDS Biotech for INR1 billion (approximately US$18.5 million). ePlanet acquired its stake in 2008 for US$4.5 million, earning a cash-on-cash return of over 4x from the exit. Read More