African Infrastructure Investment Managers (AIIM), a subsidiary of Africa-focused asset manager Old Mutual Alternative Investments, and Nedbank Energy Finance have agreed to invest ZAR400 million (approximately USD26 million) in SOLA Group, a South-Africa based renewable energy provider. The company, which develops and operates solar photovoltaic (PV) projects, will use the… Read More
Kotak Investment Advisors, the alternative investment arm of Kotak Mahindra Bank, has reached a final close for Kotak Special Situations Fund with USD1 billion in capital commitments. Abu Dhabi Investment Authority anchored the fund with a USD500 million commitment. Kotak Special Situations Fund will focus on structured credit solutions and… Read More
Egypt-based electronic payments platform Fawry has raised EGP1.6 billion (approximately USD96 million) in its initial public offering (IPO) on The Egyptian Exchange. As part of the IPO, Africa-focused private investment firm Helios Investment Partners and impact investment fund manager responsAbility Investments, which respectively invested in Fawry in 2015 and 2017,… Read More
South Africa-focused private equity fund manager Ethos and global private equity investment group Apex Partners have acquired two separate parts of Torre Industries, a South Africa-based industrial equipment producer. Following the company’s delisting from the Johannesburg Stock Exchange in April, the company was separated into Torre Analytical Service, which Ethos… Read More
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings, has reached a final close for CITIC Capital China Partners IV with USD2.8 billion in commitments. Investors in the fund include pension funds, sovereign wealth funds, insurance companies, financial institutions, family offices, and funds of funds. The fund will… Read More
Global investment manager KKR has agreed to acquire a 70 percent stake in NVC China, the China business of Hong Kong-listed multinational lighting products manufacturer NVC Lighting, for USD794 million. The transaction, which is subject to shareholder and regulatory approval and closing conditions, will be completed through KKR’s Asian Fund… Read More
West Africa-focused private equity firm Verod Capital Management has reached an interim close for Verod Fund III with USD150 million in commitments. Investors in the fund include the European Investment Bank and African Development Bank, as well as other development finance institutions, international funds of funds, asset managers, foundations, sovereign… Read More
Brazilian technology-focused fund manager Confrapar and global alternative asset manager GEF Capital Partners have agreed to acquire a 49 percent stake in Unicoba Baterias, a Brazil-based electronic components manufacturer, for BRL100 million (approximately USD25 million) from J.P. Morgan subsidiary One Equity Partners and Unicoba’s controlling family. The company produces rechargeable… Read More
Pakistan-based ride-sharing service Airlift has secured USD2.2 million in seed funding from Fatima Gobi Ventures—a joint venture between Pakistan-based conglomerate Fatima Group and Asia-focused venture investor Gobi Partners—and Pakistan-focused venture capital fund manager Indus Valley Capital, along with multiple high-net-worth individuals. The company allows users to reserve seats on buses… Read More
Canadian pension fund Ontario Teachers’ Pension Plan and global alternative asset manager TPG Capital have agreed to acquire a 35 percent stake in Dream Cruises, a Hong Kong-based cruise operator, from holding company Genting Hong Kong (GHK) for USD489 million. The company will use the funds and partnership to upgrade… Read More
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