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Carlyle Buys 10 Percent of Infotech Enterprises for US$38 Million (Asia)

The Carlyle Group has acquired 10 percent of Indian engineering and IT services firm Infotech Enterprises for INR2.1 billion (approximately US$38 million) through its South Asia-focused affiliate, First Carlyle Ventures Mauritius. Carlyle paid INR190 (approximately US$3.40) per share in the PIPE deal, the firm’s second of the year in India following a May investment in Kerala-based South Indian Bank. Carlyle… Read More

Crescent Capital Closes First Investment in Bulgarian Power Plant (CEE and CIS)

Turkish private equity firm Crescent Capital has completed its first investment, a 60.4-megawatt photovoltaic power plant in Bulgaria. Crescent made the investment through its Clean Energy Transition Fund, a Turkey and Southeast Europe-focused energy infrastructure fund. Saudi infrastructure developer and operator ACWA Power and U.S. energy infrastructure investor First Reserve also took part in the deal. Financial terms of the… Read More

Adlevo Capital and Intel Capital Make Growth Capital Investment in Rancard (Sub-Saharan Africa)

Adlevo Capital Managers, a private equity fund manager focused on technology investments in Sub-Saharan Africa, and Intel Capital, Intel’s global investment and M&A arm, have invested in Rancard Solutions, a Ghana-based provider of cloud-based mobile software and services. Rancard’s services map connections among mobile users, allowing operators to deliver personalized recommendations and targeted content to their subscribers. The investment marks… Read More

Verusa Private Equity Acquires 40 Percent of Alden Steel (CEE and CIS)

Turkish fund manager Verusa Private Equity has acquired a 40 percent stake in Alden Steel, an Istanbul-based manufacturer of steel structures, platform grating and industrial equipment. Alden is Verusa’s second industrial investment. Financial terms of the transaction were not disclosed. Read More

Waco International Sold to Ethos-led Consortium (Sub-Saharan Africa)

Waco International, a South Africa-based provider of forming, shoring and scaffolding services, as well as mobile modular buildings and sanitation services, has been sold to a consortium led by Ethos Private Equity. Also participating in the transaction were South African private equity firm RMB Ventures, African bank Standard Bank and Waco’s management. Waco, which also has operations in Chile, Australia… Read More

Standard Chartered Private Equity Invests in Smoothies Korea (Asia)

Standard Chartered Private Equity (SCPE) has partnered with South Korea’s national pension fund National Pension Services (NPS) to invest US$45.5 million for a 48 percent stake in Smoothies Korea, the Korean franchise of U.S.-based beverage chain Smoothie King. Standard Chartered will invest US$26.4 million for a 28 percent stake in the company, with NPS investing US$19.1 million for a 20… Read More

China Auto Rental Secures US$200 Million Investment by Warburg Pincus (Asia)

Global private equity firm Warburg Pincus will invest US$200 million in Beijing-based China Auto Rental, a car rental service with 600 locations covering 66 cities and 52 airports across China. Warburg Pincus will partner with Legend Capital, which invested RMB1 billion (US$157 million) in China Auto Rental in August 2010, to provide branding, funding and corporate governance support to company… Read More

IvyCap Ventures’ Debut Fund Makes First Close at US$19 Million (Asia)

India-based venture capital fund management company IvyCap Ventures Advisors has completed a first close of INR1.05 billion (approximately US$19 million) for its debut SME fund, IvyCap Ventures Trust Fund I. The fund, which aims to raise a total of INR2 billion (approximately US$36 million), will target the healthcare, energy, agriculture and technology sectors. Read More

RVCF Invests INR200 Million in International Oncology (Asia)

India-based Rajasthan Venture Capital Fund (RVCF) has invested INR200 million (US$3.6 million) in International Oncology Services, a specialty cancer care provider with treatment centers in Noida and Mumbai. The investment was made through RVCF’s SME Tech Fund, which invests in IT, education, healthcare, agriculture and automobile companies across India. International Oncology plans to expand its operations to Rajasthan, Punjab and… Read More

The Carlyle Group Invests in Mandarin Hotel Holdings Limited (Asia)

The Carlyle Group has acquired a 49 percent controlling stake in Mandarin Hotel Holdings Limited through its Asian buyout fund, Carlyle Asia Partners III. China-based Mandarin operates 25 designer hotels in six Chinese cities under the Crystal Orange Hotel and Orange Hotel brands. Financial terms of the transaction were not disclosed. Read More

Actis Invests in Nairobi’s Largest Shopping Destination (Sub-Saharan Africa)

Global emerging markets private equity firm Actis has made a real estate investment in Kenya. Garden City, a 32-acre mixed-use development in Nairobi, will include a retail mall, commercial facilities, 500 new homes and a 4-acre central park with an outdoor events arena. Financial details of the transaction are undisclosed, but local reports estimate Actis’s investment to be around US$150… Read More

Standard Chartered Private Equity Acquires 13.5 Percent Stake in Trikomsel (Asia)

Hong Kong-based alternative asset manager Standard Chartered Private Equity Limited (SCPEL) has acquired a 13.5 percent stake in Indonesian mobile phone retailer Trikomsel Oke. SCPEL purchased 600.75 million shares from the firm’s existing institutional shareholders at a price of IDR830 per share, for a total transaction value of IDR499 billion (approximately US$53 million). Trikomsel, which operates over 800 outlets in… Read More