A consortium led by global alternative asset manager KKR has completed the acquisition of Taiwan-based petrochemical product manufacturer LCY Chemical, valuing the company at TWD48 billion (approximately US$1.55 billion). The consortium acquired all of the issued and outstanding shares of LCY for TWD56 (US$1.82) per share in cash, adjusted to… Read More
Sub-Saharan Africa-focused impact investing group Investisseurs & Partenaires (I&P) has completed exits from two portfolio companies from its 2012-vintage I&P Afrique Entrepreneurs I fund. Agricultural companies Kulker and Bernegal acquired I&P’s stake in Senegal-based irrigation equipment manufacturer Delta Irrigation. A portion of I&P’s shares were also sold to the director… Read More
Africa- and India-focused recruiting and human resources solutions provider Shortlist has raised US$2 million in a Series A funding round led by family office Blue Haven Initiative. Compass Venture Capital and existing investor Zephyr Acorn also participated in the round. Shortlist provides digital job application and human resources management services… Read More
African agribusiness-focused private equity fund manager Zebu Investment Partners has reached a first close for the Africa Food Security Fund with US$84 million in capital commitments. Investors in the fund include South Africa-based Public Investment Corporation, investment manager Kuramo Capital Management and development finance institutions AfDB, CDC, DGGF, IFU and… Read More
Global alternative asset manager the Carlyle Group has agreed to acquire a 23 percent stake in Madero, a Brazil-based restaurant chain operator with 140 locations, for BRL700 million (approximately US$186 million). The transaction reportedly comprises BRL100 million (US$27 million) to acquire existing shares in the company and BRL600 million (US$159… Read More
U.S.-based investment firm Berkshire Partners has agreed to acquire a majority stake in Teraco Data Environments, a South Africa-based provider of colocation and data infrastructure services. U.K-based private equity investor Permira, an existing shareholder, will remain an investor in Teraco. The company operates five data centers in South Africa serving… Read More
India-based value apparel retailer Citykart Retail has raised INR1 billion (approximately US$14 million) from India-focused alternative investment firms IDFC Alternatives and India SME Investments, which have acquired a significant minority stake in the company. Citykart plans to use the funds to open new stores in northern and eastern India and… Read More
Africa-focused software engineering services provider Andela has raised US$100 million in a Series D funding round led by global sustainability-focused investor Generation Investment Management. Existing investors Chan Zuckerberg Initiative, GV, Spark Capital and CRE Venture Capital also participated in the round. Andela recruits and trains software developers at coding campuses… Read More
Middle East-focused alternative asset manager Gulf Capital has invested US$22 million in Tunisia-based olive oil producer and exporter CHO Company. The company produces more than 10 million gallons of olive oil per year and plans to use the funds for working capital and to support its expansion and integration plans. Read More
Frontier market investment firm CrossBoundary has reached a first close for CrossBoundary Energy Access, an Africa-focused project financing facility for power mini-grids, with US$16 million in capital commitments. Investors in the first close include the Rockefeller Foundation and family office Ceniarth. The facility has a blended finance structure and will… Read More
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