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OPIC Board Approves over US$600 Million in New Commitments to Private Equity (Pan-Emerging Markets)
The Board of Directors of U.S. development finance institution Overseas Private Investment Corporation (OPIC) has approved over US$600 million in financing for private equity funds investing in Latin America, Africa, Eastern Europe and Southeast Asia. OPIC’s recently announced commitments include: US$185 million for the Tacna and Panamerica solar power projects in Peru, to be developed by Conduit Capital Partners, an… Read More
ChinaEquity, Co-win Venture Participate in Wine9’s 2nd Round (Asia)
ChinaEquity Group and Shenzhen Co-win Venture Capital Investments have jointly made an investment in Wine9.com, an online wine retail company formerly known as Pinwine.cn. Wine9 will use the proceeds to establish warehouses across the countries to facilitate deliveries, and will enhance its IT system. Financial details of the transaction were not disclosed. Read More
Online Rentals Site TravelRent Secures US$2 Million from Investment Fund Frontier Ventures (CEE and CIS)
TravelRent, a Russian online service for short-term apartment rentals, has raised US$2 million from Frontier Ventures, a Moscow-based venture capital fund focused on the Russian-speaking consumer internet industry. TravelRent plans to use the investment to strengthen its team and to develop new marketing programs to build brand awareness and increase online listings. Read More
KKR Hits First Close on Asia Fund II (Asia)
Kohlberg Kravis Roberts & Co. (KKR) has reportedly reached a first close of US$3 billion for its second pan-Asian private equity fund. The fund, which is targeting total commitments of US$6 billion, will focus on consumer goods, manufacturing, healthcare and infrastructure projects and includes a US$1 billion target allocation to Southeast Asia. Separately, Indian aviation services provider Air Works announced… Read More
Silk Invest Closes Private Equity Investment in Ethiopia (Sub-Saharan Africa)
Silk Invest, a U.K.-based specialist asset manager focused on Africa, the Middle East and Asia, has acquired a significant minority stake in NAS Foods, a biscuit producer based in Ethiopia. Silk Invest made its investment through the Silk African Food Fund. NAS Foods will use the investment to upgrade production facilities and develop new product lines. Financial terms of the… Read More
CapMan Invests in Vital Development Corporation (CEE and CIS)
CapMan Russia, the Russia-focused private equity fund of Finnish asset manager CapMan, has acquired a 25 percent stake in Vital Development Corporation (Vital), a Russian producer of laboratory equipment and biochemical reagents. Vital plans to further expand its product line with two new business lines related to immunological analysis and water purification systems. Financial terms of the transaction were not… Read More
YFind Technologies Raises US$1.5 Million to Create Location-Intelligent Cities (Asia)
YFind Technologies, a Singapore-based wireless communications company, has raised SGD1.5 million (US$1.2 million) in a Series A funding round led by U.S.-based global venture capital firm Walden International and Singapore-based Innosight Ventures. YFind has developed a new WiFi-based technology platform that enables mobile devices to determine their precise location within buildings and densely-built urban areas. The company will use the… Read More
Hopu Asset Management Sells 6 Percent Stake in Chinese Dairy Firm Mengniu (Asia)
Chinese private equity firm Hopu Investment Management has sold its 6 percent stake in China Mengniu Dairy to Danish dairy company Arla Foods for DKK1.7 billion (US$289 million). Hopu held its stake in Mengniu through a 30 percent stake in COFCO Dairy (which in turn held a 20 percent stake in Mengniu). COFCO Dairy was formed in 2009 when Hopu… Read More
Carlyle Nets US$300 Million from Selling Sinorgchem to Sinochem International (Asia)
The Carlyle Group has sold HK Carlyle Sinorgchem Industry Company, an investment holding company controlling a 40 percent stake in Jiangsu Sinorgchem, a China-based producer of rubber chemical additives, for an estimated RMB1.85 billion (US$290 million) to Chinese industrial conglomerate Sinochem International. The sale was part of Sinochem International’s acquisition of a 61 percent stake in Jiangsu Sinorgchem for RMB2.82… Read More
CVC Capital Partners Invests in Chinese Shoe Company C.banner (Asia)
London-based asset management firm CVC Capital Partners has acquired RMB139 million (US$22 million) in convertible bonds and HKD295 million (US$38 million) in exchangeable bonds issued by Hong Kong-listed Chinese shoe manufacturer and retailer C.banner International Holdings. CVC also invested an unknown amount through secondary shares in a PIPE transaction. China Consumer Capital Partners and Mousse Dragon—China- and U.S.-based investment firms,… Read More
Alusa and Nexus Close Acquisition of Empaques Flexa (Latin America)
Nexus Capital Partners III, a Latin America-focused investment fund managed by Nexus Group of Peru, and Chilean packaging company Alusa have concluded the acquisition of Colombian flexible packaging company Empaques Flexa. According to Alusa’s original announcement of the deal, the Santiago-based company and Nexus, an investor in Alusa subsidiary Peruplast, will together invest US$35 million. The investment will add Empaques… Read More
OPIC Board Approves US$65 Million for Investment Fund for South African Small Businesses (Sub-Saharan Africa)
The Board of Directors of U.S. development finance institution Overseas Private Investment Corporation (OPIC) has approved US$65 million in financing for Medu Capital Fund III, a fund managed by South Africa-based private equity firm Medu Capital. The fund, which has a target capitalization of US$300 million, will invest in small and middle-market companies primarily in South Africa, but may consider… Read More