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Denham Capital to Sell Interests in GNPower Mariveles Power Plant (Asia)
Global energy-focused private equity firm Denham Capital has agreed to sell its holdings in Filipino coal-fueled power plant GNPower Mariveles to Philippines-based conglomerate Ayala Corporation for US$155 million. Denham first invested in the 600 megawatt plant in June 2007 alongside power project developer Power Partners. The project has previously received financing from Chinese and Filipino banks. Read More
KKR Raises US$6 Billion Asia Fund (Asia)
Global investment firm KKR has raised US$6 billion for its second Asia-focused private equity fund. The fund will invest in growth and buyout transactions across Asia, including China, India and Southeast Asia. The latest fund follows KKR’s first pan-Asia private equity fund, which closed with US$4 billion in capital commitments in 2007. Read More
XSML Invests in Central African Republic Transport Company (Sub-Saharan Africa)
SME-focused private equity fund manager XSML has invested in Bamara Transports DJ, a road transport company in the Central African Republic, through its Central Africa SME Fund (CASF). The investment will enable Bamara to purchase two new trucks, two trailers and construct an 800 liter diesel fuel tank. Financial details of the transaction were not disclosed. Read More
Bharti Infratel Prices IPO, Raising About US$764 Million (Asia)
Indian telecommunications infrastructure company Bharti Infratel has priced an initial public offering, raising approximately US$764 million from institutional and retail investors. Bharti Infratel issued new shares, to be listed on India’s National Stock Exchange and the Bombay Stock Exchange, that reportedly amount to over three-quarters of the 188.9 million shares sold. The remainder of the shares comes from four existing… Read More
Hony Invests in China International Marine Containers (Asia)
Chinese private equity firm Hony Capital has acquired a 5.16 percent stake in China International Marine Containers (CIMC), a state-owned manufacturer of shipping containers that is in the process of transferring its listing from the Shenzhen Stock Exchange to the Hong Kong Stock Exchange. Broad Ride, a subsidiary of Hony Capital Fund V, was selected to provide cash options to… Read More
Sequoia, IDG Ventures Invest US$9.2 Million in iCreate (Asia)
Global venture capital firms IDG Ventures and Sequoia Capital are investing INR500 million (approximately US$9.2 million) in iCreate Software, an Indian data analytics software developer. iCreate focuses on the banking sector and plans to use the funds to expand its product portfolio and move into overseas markets. IDG Ventures had previously invested INR150 million (approximately US$2.8 million) in iCreate in… Read More
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