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Qatar’s Mannai, Egyptian Bank EFG Hermes Reach US$445 Million Deal to Buy Mideast Jeweler Damas (MENA)

Qatari conglomerate Mannai Corporation and Egyptian investment bank EFG Hermes have agreed to purchase Damas International, a Middle Eastern jewelry and watch retailer, with a bid of 45 cents per share. Under the terms of the transaction, Mannai will hold a controlling stake of 66 percent in Damas for approximately US$293 million, while EFG Hermes will hold a 19 percent… Read More

Brilla Reaches First Close for Colombian Hotel and Resorts Fund (Latin America)

Brilla Group, a U.S.-based private equity firm focused on luxury beachfront hotel and resort assets in South Florida, the Caribbean, Mexico, Central America and Colombia, has achieved a first closing on its Colombian Beachfront Hospitality Private Equity Fund. The fund has raised US$30 million in commitments to date from Colombian institutions including Bancoldex and local pension funds. The fund is… Read More

PVG Venture Capital Buys 3 Percent of CMGE (Asia)

PVG Venture Capital Partners, an affiliate of Taiwanese venture capital management firm Pacific Venture Group, has acquired a 3.3 percent stake in China Mobile Games and Entertainment (CMGE), a mobile games developer and subsidiary of Hong Kong-listed internet video broadcasting company VODone Limited. Financial terms of the transaction were not disclosed. Read More

New York Life Cuts Stake in CEBBCO (Asia)

New York Life Investment Management India Fund, advised by Jacob Ballas Capital India Private Limited, has sold an approximate 2.77 percent stake of its holding in Commercial Engineers & Body Builders Co. (CEBBCO), an Indian producer of vehicle and locomotive bodies, for an estimated US$1.8 million. Jacob Ballas Capital has been steadily reducing its stake in CEBBCO since the company’s… Read More

Russia’s Frontier Ventures Sets Sights on Internet Businesses (CEE/CIS)

Russian entrepreneur Dmitry Alimov has founded a US$50 million venture fund focused on the consumer sector in Russia. In particular, the fund, Frontier Ventures, will target early-stage internet-oriented consumer companies. Alimov previously ran ru-Net, a Russia-based internet and technology-focused investment company. Read More

Aceco TI Receives Investment from Global Growth Investor General Atlantic (Latin America)

Global growth equity firm General Atlantic has acquired a minority stake in Aceco TI, a company focused on the design and maintenance of data centers in Brazil and Latin America. The partnership will provide capital and strategic advice for the company as it continues to grow in the region. Financial terms of the transaction were not disclosed. Read More

Saudi-funded Eastgate Capital Invests in Fabeks Diş Ticaret Stake (CEE/CIS)

Eastgate Capital Group, the private equity fund management arm of Saudi Arabia’s NCB Capital, has invested in Fabeks Diş Ticaret A.Ş. (Silk & Cashmere), a Turkey-based retail apparel company, through its MENA Direct Equity Fund for a 49.8 percent equity stake. The capital will be used to facilitate the company’s expansion in Turkey and select international markets. The transaction, the… Read More

NetJets Inc. Unveils Joint Venture for China (Asia)

NetJets Inc., a private aviation company owned by Berkshire Hathaway, has announced plans for a new joint venture to bring their services to China. NetJets China Business Aviation Limited will be a joint venture between NetJets Inc. and a consortium of Chinese investors led by Hong Capital subsidiary Hony Jinsi Investment Management (Beijing) Ltd. and Fung Investments. The deal is… Read More

ChrysCapital Raises US$500 Million for New Fund (Asia)

India-focused private equity firm ChrysCapital has reportedly raised US$500 million for a new fund. This is the first fund since the firm announced that Co-Founder and Senior Managing Director Ashish Dhawan will leave the firm later this year. ChrysCapital is purported to have raised capital from a variety of foreign investors, including endowments, pension funds and sovereign wealth funds. Read More

Riyada Enetrprise Development to Acquire 50 Percent Stake in The Entertainer (MENA)

Riyada Enterprise Development (RED) has announced its intent to acquire a 50 percent stake in The Entertainer, a consumer services company that offers two-for-one discount vouchers for merchants in the UAE, Bahrain, Oman, Qatar, Saudi Arabia, Kuwait and Cyprus. RED is a targeted US$650 million high growth small- and mid-cap investment platform formed by Abraaj Capital, a private equity manager… Read More

Allyes Group Receives Strategic Investment from Vision Knight Capital (Asia)

China-based private equity fund Vision Knight Capital has invested in Allyes Group, a provider of integrated digital marketing solutions in China that is majority-owned by global technology-focused investor Silver Lake Partners. David Wei, Vision Knight Capital’s Chairman and Founding Partner, joined Allyes’ Board of Directors in December 2011. Financial terms of the transaction were not disclosed. Read More