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Primus Capital Management Invests HUF400 Million in Pharmaceutical Company HYD (CEE and CIS)

Hungarian venture capital firm Primus Capital Management has invested HUF400 million (approximately US$1.8 million) in Hungarian biotechnology company HYD. HYD specializes in developing products for the prevention and treatment of tumors. The investment was made through the Primus Capital III fund. Read More

Otkritie Financial Corporation Announces Details of the Acquisition of a Minority Interest in NOMOS Bank (CEE and CIS)

Netherlands-based investment and finance group PPF Group has sold its stake in Russia’s NOMOS Bank to Russian banking group Otkritie Financial Group in a share swap deal. In exchange, PPF Group received shares in Russian fertilizer company Uralkali, plus an additional equity investment. The total value of the transaction value was RUB14.1 billion (approximately US$442 million). Read More

INR3 Billion Investment by Goldman Sachs and NEA (Asia)

An Indian operator of surgical care and fertility clinics, Nova Medical Centers, has announced the investment of INR3 billion (approximately US$54 million) by global investment bank and securities firm Goldman Sachs and U.S.-based venture capital investor New Enterprise Associates (NEA). Under the terms of the transaction, Goldman Sachs will invest INR2.2 billion (approximately US$40 million) and NEA will invest INR800… Read More

City Corporation Raises US$21.8 Million from IL&FS PE for Its Future Towers Project (Asia)

India-based private equity fund manager IL&FS Investment Managers Limited (IIML) has invested INR1.2 billion (approximately US$21.8 million) in City Corporation, an Indian real estate developer. The capital will be used to finance the construction of a residential project, Futura Towers. The project is reportedly valued at INR2.5 billion, suggesting a 48 percent ownership stake for IIML. Read More

Warburg Pincus Invests in Bone Medical (Asia)

Global private equity firm Warburg Pincus has reportedly invested in Chinese medical materials manufacturer Bone Medical Devices. Bone Medical Devices specializes in the research, development, production and sale of orthopedic implants. Financial details of the transaction were not disclosed. Read More

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