Africa-focused private equity fund manager Phatisa and Kanthu Nkhama Capital have agreed to acquire a 55 percent stake in South Africa-based construction equipment supplier Kanu Equipment from Johannesburg Stock Exchange-listed industrial group Torre Industries for a total consideration of US$27 million. Phatisa will invest through African Agriculture Fund and increase… Read More
Global alternative asset manager The Carlyle Group has agreed to acquire a majority stake in South Africa-based telecommunications carrier CMC Networks from Africa-focused principal investments firm Investec Equity Partners. Carlyle will invest from the Carlyle Sub-Saharan Africa Fund, while CMC’s founder and management team will reinvest alongside Carlyle. Financial details… Read More
Singapore-based intellectual property intelligence platform PatSnap has closed a Series C funding round led by Sequoia Capital, with participation from venture capital firms Shunwei Capital Partners and Qualgro Ventures. The company will use the investment to develop new products and expand its team globally. Financial details of the transaction were… Read More
South Africa-focused private equity fund manager Ethos Private Equity has reached a first close for Ethos Mid Market Fund I with an undisclosed amount of committed capital. Investors in the fund include investment management firm Ethos Capital, which committed ZAR550 million (approximately US$38 million). The fund will seek to deploy… Read More
Emerging markets-focused investment manager Gramercy Funds Management has reached a final close for Gramercy Distressed Opportunity Fund III with nearly US$1 billion in capital commitments. The fund will invest opportunistically in dislocated and defaulted sovereign, quasi-sovereign and corporate credits, as well as actively short bonds and hedge long positions. To… Read More
South America-focused private equity fund manager Victoria Capital Partners (VCP) has led a US$100 million capital increase for Argentina-based agribusiness and investment company Grupo Los Grobo. University of Texas Investment Management Company and development finance institutions International Finance Corporation and FMO also participated in the capital increase. Simultaneously, VCP has… Read More
Global growth equity firm General Atlantic has subscribed to IDR1.08 trillion (approximately US$80 million) in zero-coupon bonds issued by Indonesia-based lifestyle retailer Mitra Adiperkasa (MAP), which are convertible into shares in MAP’s food and beverage subsidiary, MAP Boga Adiperkasa (MBA). MBA operates over 300 stores across 24 cities in Indonesia… Read More
Russia-based e-commerce cashback rewards platform Kopikot.ru has received an investment from venture capital firms Vision Plus and Buran Venture Capital. The investment is part of a larger deal in which Buran and Vision Plus invested EUR3.7 million (approximately US$4 million) in Bonusway, the Finland-based parent company of Kopikot.ru. Financial services… Read More
China-focused private equity firm CDH Investments and investments services provider CCB International have sold their stakes in Hong Kong Stock Exchange-listed hospital operator Harmonicare Medical Holdings to China-based life insurance company Taikang Insurance Group. CDH sold a 10.37 percent stake in the company for HKD514 million (approximately US$66 million) and… Read More
Growth markets investor Actis has sold its remaining 14.3 percent stake in Uganda Securities Exchange- and Nairobi Securities Exchange-listed power distribution company Umeme. Actis sold its shares via private placement to institutional investors, including Uganda-based private pension fund National Social Security Fund, which acquired a 7.5 percent stake and increased… Read More
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