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Carlyle Pares Stake in Kaisa as Chinese Developers Rally (Asia)
The Carlyle Group has reduced its stake in Chinese property company Kaisa Group Holdings by selling 216 million shares in the company on the Hong Kong Stock Exchange. The shares reportedly comprised half of Carlyle’s stake in Kaisa and were acquired during its 2007 investment in the company. Financial details of the transaction were not disclosed, but a term sheet… Read More
Consortium Invests in Russia’s Karo Film Group (CEE and CIS)
A consortium of investors, including Russian private equity firm Baring Vostok Capital Partners, Russian asset manager UFG Asset Management, the government-owned Russian Direct Investment Fund and media entrepreneur Paul Heth, has acquired a controlling stake in Russia’s Karo Film Group. Karo owns and operates 31 movie theaters with 197 total screens across Russia, and the investor consortium will support a… Read More
Actis Exits Xiabu Xiabu (Asia)
Emerging markets private equity investor Actis has sold its stake in Chinese restaurant chain Xiabu Xiabu to global private equity firm General Atlantic. Actis first invested in Xiabu Xiabu, which specializes in Chinese hot-pot dishes, in November 2008. During Actis’s investment period, Xiabu Xiabu expanded from 60 restaurants in Beijing and Tianjin to over 300 throughout China. Financial details of… Read More
PE Investors Sit on 40 Percent Gain in CARE IPO (Asia)
Indian credit ratings agency Credit Analysis & Research (CARE) has raised INR5.4 billion (approximately US$99.3 million) in an initial public offering on India’s National Stock Exchange and Bombay Stock Exchange. The company, backed by Indian private equity firms Milestone Capital Advisors and Aditya Birla Private Equity (ABPE), sold 7.2 million shares representing a 25.22 percent stake. Milestone reportedly sold shares… Read More
Flocations.com Secures SGD700,000 Pre-Series Funding Led by TNF Ventures (Asia)
Flocations, the Singapore-based operator of Southeast Asia-focused travel website Flocations.com, has received SGD700,000 (approximately US$573,000) in an early stage investment round led by Singaporean venture capital firm TNF Ventures. SingTel Innov8, the corporate venture arm of Singaporean mobile service provider SingTel, and angel investor Ben T. Ball also participated in the round. The funding will allow Flocations to offer new… Read More
The African Agriculture Fund Invests in Feronia (Sub-Saharan Africa)
The African Agriculture Fund (AAF), a private equity fund managed by Sub-Saharan Africa-focused firm Phatisa, has agreed to invest up to US$10.5 million in Feronia, a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo, through one of the fund’s subsidiaries. The subsidiary will invest in two tranches and AAF will indirectly hold 19.9 percent of… Read More
CNEI Leads US$20 Million Investment in Juxin Internal Leasing (Asia)
China New Enterprise Investment (CNEI), a China-focused growth capital fund manager, has invested US$20 million in Chinese specialty leasing company Juxin Internal Leasing’s Series B investment round, acquiring a 12.1 percent stake. Juxin provides financial leasing services to customers in the public higher education sector, including financing for IT systems, engineering systems, laboratory and vocational training equipment. Read More
Northstar Invests in Indonesian Brokerage Trimegah (Asia)
Indonesian private equity firm Northstar Pacific Partners has acquired a 49 percent stake in Indonesian Stock Exchange-listed brokerage Trimegah Securities for IDR200 billion (approximately US$20.8 million). The firm purchased 1.7 billion shares in Trimegah, including shares owned by hedge fund Spinnaker Capital. Northstar made the investment through Northstar Equity Partners III, a US$820 million Indonesia-focused private equity fund that closed… Read More
GoIntegro Secures Growth Equity Funding from Riverwood Capital and Kaszek Ventures Initiatives (Latin America)
Argentina-based GoIntegro, a human resources social engagement platform focused on Latin America, has received funding from global private equity investor Riverwood Capital and Latin America-focused venture capital firm Kaszek Ventures. GoIntegro’s platform provides corporations with a platform combining a corporate social network with human resources-specific applications and the current round of funding will help the company expand into Brazil. Financial… Read More
FIP Terra Viva Concludes BRL260 Million Investment Round in Ethanol Assets (Latin America)
FIP Terra Viva, a private equity fund managed by Brazilian firm DGF Investimentos, has reportedly fully invested its BRL260 million (approximately US$123 million) corpus after investing BRL70 million (approximately US$33.1 million) in the ethanol assets of Usina Alvorada, a Brazilian sugarcane processing mill. Terra Viva was raised in 2008 to invest in Brazil’s sugarcane-based bioethanol sector and manages four sugarcane… Read More
P2 Brasil Creates a Company to Build and Rent Cellphone Towers (Latin America)
P2 Brasil, an infrastructure fund managed by Brazilian private equity firm Pátria Investimentos and engineering company Promon Engenharia, has invested BRL300 million (approximately US$142 million) to create Highline, a company that will manage wireless telecommunications towers in Brazil. Highline will build the towers under orders from carriers, renting the towers through long-term contracts. Following the creation of Highline, P2 Brasil… Read More
Fonds Cauris Croissance II Invests in Azalaï Hotels’ Regional Expansion (Sub-Saharan Africa)
Fonds Cauris Croissance II, a private equity fund managed by West African fund manager Cauris Management, has agreed to invest XAF4 billion (approximately US$8 million) in Azalaï Hotels, a West African hotel chain. Headquartered in Mali, Azalaï operates six hotels in Benin, Burkina Faso, Guinea Bissau and Mali, and the investment will fund the chain’s expansion into Côte d’Ivoire, Senegal… Read More