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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
Amwal AlKhaleej Announces SAR8.3 Billion IPO of Saudi-based Al Tayyar Travel Group (MENA)
Amwal AlKhaleej, a Saudi Arabia-based alternative investment and private equity firm, has announced the listing of travel services provider Al Tayyar Travel Group on the Saudi Stock Exchange. The offering raised over SAR8.3 billion (US$2.2 billion). Amwal AlKhaleej, which invested US$7.9 million in Al Tayyar in January 2005 through its first fund, has reportedly achieved a return multiple estimated at… Read More
Baring Private Equity Asia Acquires 5 Percent of Magic Holdings for HKD146 Million in PIPE Deal (Asia)
Hong Kong-based private equity firm Baring Private Equity Asia has acquired 50.4 million shares, representing a 5 percent stake, of Magic Holdings for HKD146.3 million (US$18.8 million). Magic Holdings, based in Guangzhou, is a manufacturer of skincare products sold under the MG brand. Baring acquired 15 percent of Magic for HKD451 million (US$58 million) in January 2012. Read More
Egeli & Co. Agriculture Investment Trust Buys 90.05 Percent of Doğa Tarım (CEE and CIS)
Egeli & Co. Asset Management, an independent Turkish asset management company, has announced that it purchased a 90.05 percent stake in the Turkish dairy farm Doğa Tarım Hayvancılık. The investment was made out of the Egeli & Co. Agriculture Investment Trust, a closed-end fund focused on investments in the agricultural sector. Egeli & Co. will acquire 1,801 shares for TRY3.2… Read More
AIF Capital Invests US$40 Million in Pacific Plas (Asia)
Hong Kong-based private equity firm AIF Capital has invested US$40 million in Pacific Plas, a Singapore-based resin distribution and consumer packaging company with operations in Indonesia, China, Malaysia, Singapore and Australia. AIF Capital made the investment through an issue of redeemable convertible preference shares. AIF Capital plans to support Pacific Plas’ acquisition efforts and enhance corporate governance and risk management… Read More
Paga Secures New Investments to Scale Money Transfer Services Nationwide (Sub-Saharan Africa)
Nigerian money transfer service Paga has secured new investments from a consortium of investors including Adlevo Capital, Omidyar Network, Acumen Fund, Capricorn Investment Group and current investor Goodwell West Africa Microfinance Development Company. Paga enables any person with a mobile phone or internet access to send cash to anyone in Nigeria, buy or send airtime credit, pay bills and make… Read More
The Africa Health Fund Managed by Aureos Invests in Togolese Private Hospital (Sub-Saharan Africa)
Global growth markets private equity fund manager Aureos has invested US$1.7 million in Clinique Biasa, a private hospital and clinic based in Togo. Aureos made the investment through the Africa Health Fund, a US$105 million fund which includes the Bill & Melinda Gates Foundation, IFC, the African Development Bank and DEG among its investors. The fund has made six investments… Read More
Brookfield Acquires 45 Percent of Chilean Highway Operator from Hochtief for EUR230 Million (Latin America)
German construction firm Hochtief AG has sold a 45 percent stake in Chilean toll highway operator Vespucio Norte Express (VNE) to a consortium led by Brookfield Infrastructure Partners for EUR230 million (US$290 million). VNE, in operation since January 2006, was developed by Hochtief under a BOT (build, operate, transfer) contract approved by the Chilean Ministry of Public Works in 2001.… Read More