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EBRD Backs New Russian Private Equity Fund (CEE and CIS)
The European Bank for Reconstruction and Development (EBRD) has announced an agreement to act as a cornerstone investor in Elbrus Capital Fund II, a private equity fund managed by Russia-based Elbrus Capital. The EBRD has agreed to invest up to US$50 million in the fund, with the caveat that its investment will not exceed 25 percent of the fund’s total… Read More
Standard Chartered PE Arm Invests in Craftsman Automation (Asia)
Standard Chartered Private Equity Limited (SCPE), the investment arm of Standard Chartered Bank, has invested INR850 million (approximately US$15.4 million) in Craftsman Automation, an Indian manufacturer of precision engineered industrial components, for a minority stake. The company plans to use the capital to finance the expansion of its various manufacturing facilities. International Finance Corporation is an existing investor in Craftsman… Read More
Clove Capital Marks Its First Exit (Asia)
Southeast Asia-focused private equity firm Clove Capital Partners has finalized the divestment of its first investment. Clove Capital’s 40 percent stake in Philippine oil company VenturOil Philippines, held through a subsidiary, Energy Best Limited, was acquired by Peak Oil and Gas (Singapore), a wholly-owned subsidiary of Australia-based energy and metals company Raisama Energy Limited. Clove Capital reported generating a cash-on-cash… Read More
Armstrong South East Asia Clean Energy Fund Readies for First Investments (Asia)
Singapore-based private equity firm Armstrong Asset Management has announced the first close of the Armstrong South East Asia Clean Energy Fund with US$65 million in commitments. Investors in the fund include European development finance institutions GEEREF and DEG. The fund, which is targeting total commitments of US$150 million, plans to invest in the solar and mini-hydro sectors of Southeast Asian… Read More
Affinity, Baring, GIC Claim US$1 Billion Kyobo Life Stake (Asia)
A private equity consortium consisting of Baring Private Equity Asia, Affinity Equity Partners, IMM Private Equity and the Government of Singapore Investment Corporation, Singapore’s sovereign wealth fund, has purchased a 24 percent stake in South Korea’s Kyobo Life Insurance from Daewoo International Corporation. The transaction is valued at KRW1.2 trillion (approximately US$1.06 billion). The consortium of investors will become the… Read More
Asia Alternatives Announces Fund Closings of Over US$1.5 Billion (Asia)
Asian private equity fund-of-funds Asia Alternatives has announced the final close of over US$1.5 billion in commitments across several funds. The largest fund to close was Asia Alternatives Capital Partners III (AACP III), which closed at US$908 million, above its US$800 million target. The other fund vehicles closed with approximately US$600 million in total commitments. Asia Alternatives focuses on local… Read More
IFC, Africa Capitalization Fund Investment Supports Growth and Access to Finance in Nigeria (Sub-Saharan Africa)
International Finance Corporation (IFC) has announced that it will provide a US$70 million convertible loan to Nigerian commercial bank, Diamond Bank, in partnership with the Africa Capitalization Fund, a private equity fund managed by IFC Asset Management Company. Diamond Bank will use the loan to expand its lending program and provide financial services to underserved market segments. Read More
Indonesia’s Capsquare Achieves First Close on Debut Fund (Asia)
Indonesia-focused private equity firm Capsquare Asia Partners has achieved a first close on its debut fund. The fund, targeting US$75 million in total commitments, has reportedly raised three-quarters of that amount. Capsquare is focusing on consumer-driven sectors such as consumer goods, retail, education and healthcare. The firm plans to make investments between US$10 million and US$15 million, mostly for controlling… Read More
SAIF Partners Investing US$7.2 Million in Bangalore QSR Chain Ammi’s Biryani (Asia)
Asia-focused private equity firm SAIF Partners has invested INR400 million (approximately US$7.2 million) into TMA Hospitality Services, which manages fast food restaurant chain Ammi’s Biryani. SAIF Partners recently established a separate INR1 billion (approximately US$18 million) investment vehicle, Zooropa Foods, to finance and manage a chain of quick service and casual dining restaurants. Read More
BTG Pactual Leads Investment of US$2.7 Billion in Sete Brasil Participações (Latin America)
Brazilian bank BTG Pactual’s private equity funds have invested US$1 billion as part of a BRL5.4 billion (approximately US$2.7 billion) investment in Sete Brasil Participações, a Brazilian offshore oil rig operator. Also participating in the deal was U.S.-based investment firm EIG Global Energy Partners. Following the transaction, BTG Pactual reportedly owns over 30 percent of Sete Brasil. Existing investors in… Read More
L Capital Asia Invests in Indian Theatrical Chain (Asia)
L Capital Asia, through its Indian subsidiary L Capital Eco, will invest a total of INR1.08 billion (approximately US$19 million) in Indian cinema operator PVR. L Capital will invest INR577 million for a direct 10 percent stake in PVR, as well as INR501 million to establish a joint venture with PVR to invest in in-mall entertainment and leisure concepts. L… Read More
BaltCap Completes Wind Farm Investment in Estonia (CEE and CIS)
BaltCap, a private equity and venture capital firm focused on the Baltic States, has invested in the 18-megawatt Mäli & Tamba wind energy project in Estonia. The Mäli & Tamba wind farm, which will utilize 3-megawatt Enercon turbines and be operational as of September 2013, is BaltCap’s second energy-related transaction following its May 2008 investment in Energate, a natural gas… Read More