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BTG Pactual Buys Minority Stake in Brazil’s Leader (Latin America)
Brazilian investment bank BTG Pactual’s private equity fund, BTG Pactual Principal Investments FIP, and BTG Pactual subsidiary holding company, BTG Investments LP, have reached an agreement to acquire 42.3 percent of Leader Participações for BRL665 million (approximately US$333 million), through a combined purchase of existing equity and new shares. Leader is an apparel and household goods retailer based in Brazil.… Read More
GP Investments to Sell Fogo de Chão (Latin America)
GP Investments, an alternative asset investment firm in Latin America, has reached an agreement to sell 100 percent of FC Holdings, the holding company for Brazilian steakhouse Fogo de Chão Churrascaria, to U.S.-based private equity firm Thomas H. Lee Partners for an enterprise value of US$400 million. In partnership with co-investors, GP Investments acquired a 35 percent stake in Fogo… Read More
DEG Co-finances Ethiopian Brewery (Sub-Saharan Africa)
DEG (Deutsche Investitions- und Entwicklungsgesellschaft), the development finance arm of Germany’s KfW Bankengruppe, has partnered with London-based Duet Group and U.S.-based Vasari Group to invest US$90 million in Dashen Brewery of Ethiopia. DEG will provide US$12.5 million of its own capital as part of the deal. Dashen, which produces local brands “Dashen” and “Royal,” will use the funds to expand… Read More
Rio Bravo Completes Final Close of FIP Rio Bravo Energy I at BRL463 Million (Latin America)
Rio Bravo Investments, a Brazil-based asset manager, has completed the final close of its renewable energy fund, FIP Rio Bravo Energy I, at BRL463 million (approximately US$275 million). Rio Bravo has already committed the fund’s capital to hydro and wind energy projects currently being developed through partnerships with mining firm Orteng, Servitec of São Paulo, and Electrosul, a member of… Read More
Navis Capital Partners Buys Kuckreja’s Stake in Nirula’s (Asia)
South and Southeast Asia-focused private equity investor Navis Capital Partners is now the sole owner of India-based fast food chain Nirula’s following the acquisition of co-owner Samir Kuckreja’s remaining stake in the company, which was estimated to be around 10 percent. Navis paid INR900 million (roughly US$19.7 million) for a majority stake in Nirula’s in 2006 and made a follow-on… Read More
TaxiForSure Raises Venture Capital from Accel, Helion (Asia)
Serendipity Infolabs, the India-based operator of online taxi reservation service TaxiForSure.com, has raised venture capital funding from global venture capital investor Accel Partners and India-based firms Helion Venture Partners and Blume Ventures. TaxiForSure, which caters to business travelers, is currently available in Bangalore and plans to soon expand to Delhi and Mumbai. Financial terms of the transaction were not disclosed. Read More
Nexxus Capital Announces an Investment in Price Travel (Latin America)
Nexxus Capital, a Mexico-based fund manager, has acquired a 31 percent stake in Price Travel, a travel services provider focused on the Mexican market. Price Travel’s current operations include an online platform and 98 Price Travel Shops offering hotel reservations, airline tickets, ground transport, tours and vacation packages. This is the third investment Nexxus Capital has made through Nexxus IV… Read More
Actis Exits Accra Mall (Sub-Saharan Africa)
Actis has announced the sale of its 85 percent stake in Accra Mall, a shopping and leisure center in Ghana, to Atterbury, a South Africa-based property developer, and Sanlam, a financial services group also based in South Africa. Actis led the development of Accra Mall in partnership with the Owusu-Akyaw family of Ghana. The mall, which opened in 2008, attracts… Read More
TVM Capital MENA Announces Recent Final Closing of TVM Healthcare MENA I Fund (MENA)
TVM Capital MENA, a Dubai-based private equity and growth capital investor focused on the healthcare markets of the Middle East, North Africa and India, has held a final close of US$50 million for TVM Healthcare MENA I. With the final close, Crescent Enterprises, a diversified holding company based in the United Arab Emirates, and a group of entrepreneurs managed by… Read More
Quikr Attracts US$32 Million Private Equity Investment (Asia)
Quikr, an Indian internet and mobile classifieds platform, has raised US$32 million in a financing round led by Warburg Pincus, a global private equity investor specializing in growth investments. Existing investors Matrix Partners India, Norwest Venture Partners and eBay also participated. Quikr will use the new capital to diversify its online and mobile offerings and strengthen its product development and… Read More
AfDB Sponsors Fund of Funds for Agribusiness in Africa (Sub-Saharan Africa)
The Board of Directors of the African Development Bank Group (AfDB) has approved a US$100 million anchor investment in Agvance Africa, an agribusiness-focused fund of funds to be managed by Credit Suisse Customized Fund Investment Group (CFIG). Agvance Africa is focused on promoting private investment in African agriculture and agribusiness. The fund is targeting total commitments of US$500 million and… Read More