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Horizon Capital Sells Fidem Life to Aegon (CEE and CIS)
Ukraine-based private equity fund manager Horizon Capital has agreed to sell its 100 percent stake in local life insurance company Fidem Life to Netherlands-based insurance, pensions and asset management company Aegon. Horizon first invested in the insurer in 2010 through its Emerging Europe Growth Fund II. Financial details of the transaction were not disclosed. Read More
Actis Concludes Partial Exit from XP Investimentos (Latin America)
Emerging markets private equity investor Actis has partially exited its holding in Brazilian independent brokerage XP Investimentos by selling approximately half of its stake to global private equity firm General Atlantic. Actis had originally invested US$58 million in XP Investimentos in November 2010. Financial details of the transaction were not disclosed, but the amount paid by General Atlantic was reported… Read More
Darby Backs Logistics and Cargo Operator (Latin America)
Darby Overseas Investments, the private equity arm of global investment manager Franklin Templeton, has invested in Ecuadorian logistics company Tabacarcen S.A. Tababela Cargo Center. Tabacarcen is the logistics and cargo operator at Mariscal Sucre airport in the Ecuadorian capital of Quito. Darby made the investment through its Darby Latin American Mezzanine Fund II. Financial details of the transaction were not… Read More
Helion, Footprint Ventures Invest US$6 Million in Mast Kalandar (Asia)
Indian venture capital firms Helion Venture Partners and Footprint Ventures have reportedly invested US$6 million in vegetarian food chain Mast Kalandar, owned by Indian restaurant operator Spring Leaf Retail. Mast Kalandar currently operates 40 outlets and will use the funding to expand to 100 outlets across eight Indian cities. Footprint had participated in two previous financing rounds, while Helion participated… Read More
Sequoia, Fidelity Lead Reocar’s Series B Financing (Asia)
Venture capital firm Sequoia Capital China and Fidelity Growth Partners Asia, the Asia-focused private equity arm of Fidelity Investments, have invested alongside an undisclosed private investor in the Series B financing round of Chinese rental car company Reocar. Financial details of the transaction were not disclosed, but the invested capital was reported to be in excess of RMB100 million (approximately… Read More
Transaction Solutions International Secures AUD22 Million Commitment for Indian ATM Business (Asia)
CX Partners, an Indian private equity firm, has signed a binding letter of intent to invest INR1.2 billion (approximately US$22.9 million) in Transaction Solutions International (TSN), an operator of ATMs that is listed on the Australian Stock Exchange. Under the terms of the transaction, CX Partners will acquire a 75 percent stake in TSN’s wholly-owned Indian subsidiary, TSI India, in… Read More
Saratoga, Provident Sell Tower Bersama Shares (Asia)
Indonesia-focused private equity firm Saratoga Capital and investment firm Provident Capital have sold a combined 4.4 percent stake in Indonesian telecommunications tower operator Tower Bersama Infrastructure on the Indonesian Stock Exchange. Saratoga and Provident collectively sold 210 million shares at IDR5,750 per share (approximately US$0.60) for IDR1.2 trillion (approximately US$125 million). Saratoga and Provident reportedly retain 16.76 percent and 23.85… Read More
Lombard Sells 10 Percent Stake in Thai Department Store Chain (Asia)
Southeast Asia-focused private equity investment manager Lombard Investments has sold its 10 percent stake in Thai retail chain Robinson Department Store for approximately US$219 million. Lombard’s affiliate, Asia Investment International, sold 111.3 million shares on the Stock Exchange of Thailand at THB60.5 (approximately US$1.95) per share. Robinson operates 27 department stores across Thailand. Read More
CNEI Invests US$23 Million in a Chinese Salt Chemicals Producer (Asia)
China New Enterprise Investment (CNEI), a China-focused growth capital fund manager, led a US$23 million investment in Chinese salt chemicals manufacturer China Dadi Chemical (Dadi). Korea Development Bank, the state-owned policy bank of South Korea, co-invested alongside CNEI. The investment is expected to help Dadi strengthen its industry position through capacity expansion and downstream product development. Read More
XSML Invests in Robusta Roasting Facility (Sub-Saharan Africa)
SME-focused private equity fund manager XSML has invested in Café Gbako, a coffee producer and retailer in the Central African Republic. XSML invested from its Central African SME Fund, which is targeting US$25 million in capital commitments. Café Gbako produces and exports Robusta coffee, and plans to use the investment to set up a new coffee roasting facility, which would… Read More
MBK, Morgan Stanley Tick the Right Boxes Amid Difficult Fundraising (Asia)
North Asia-focused private equity firm MBK Partners has reached a first close on its third fund, MBK Partners III, at US$1.25 billion in capital commitments. The fund, which is targeting US$2.25 billion, will invest in controlling stakes in companies based in South Korea, Japan and Greater China. Morgan Stanley Private Equity Asia is reportedly raising its fourth Asia-focused private equity… Read More
Shelf Drilling Completes Acquisition of 38 Rigs from Transocean (MENA)
Shelf Drilling, a shallow water drilling services provider headquartered in the United Arab Emirates, has completed the acquisition of 37 drilling rigs, one swamp barge and associated operations from global offshore drilling company Transocean for US$1.05 billion. Shelf Drilling was created with financing from global private equity firms Castle Harlan, CHAMP Private Equity and Lime Rock Partners, and operates oil… Read More