India-based private equity fund manager IL&FS Investment Managers Limited (IIML) has invested INR1.2 billion (approximately US$21.8 million) in City Corporation, an Indian real estate developer. The capital will be used to finance the construction of a residential project, Futura Towers. The project is reportedly valued at INR2.5… Read More
Global private equity firm Warburg Pincus has reportedly invested in Chinese medical materials manufacturer Bone Medical Devices. Bone Medical Devices specializes in the research, development, production and sale of orthopedic implants. Financial details of the transaction were not disclosed. Read More
The European Bank for Reconstruction and Development (EBRD) has announced an agreement to act as a cornerstone investor in Elbrus Capital Fund II, a private equity fund managed by Russia-based Elbrus Capital. The EBRD has agreed to invest up to US$50 million in the fund, with the caveat that… Read More
Standard Chartered Private Equity Limited (SCPE), the investment arm of Standard Chartered Bank, has invested INR850 million (approximately US$15.4 million) in Craftsman Automation, an Indian manufacturer of precision engineered industrial components, for a minority stake. The company plans to use the capital to finance the expansion of its various… Read More
Southeast Asia-focused private equity firm Clove Capital Partners has finalized the divestment of its first investment. Clove Capital’s 40 percent stake in Philippine oil company VenturOil Philippines, held through a subsidiary, Energy Best Limited, was acquired by Peak Oil and Gas (Singapore), a wholly-owned subsidiary of Australia-based energy and… Read More
Singapore-based private equity firm Armstrong Asset Management has announced the first close of the Armstrong South East Asia Clean Energy Fund with US$65 million in commitments. Investors in the fund include European development finance institutions GEEREF and DEG. The fund, which is targeting total commitments of US$150 million, plans… Read More
A private equity consortium consisting of Baring Private Equity Asia, Affinity Equity Partners, IMM Private Equity and the Government of Singapore Investment Corporation, Singapore’s sovereign wealth fund, has purchased a 24 percent stake in South Korea’s Kyobo Life Insurance from Daewoo International Corporation. The transaction is valued… Read More
Asian private equity fund-of-funds Asia Alternatives has announced the final close of over US$1.5 billion in commitments across several funds. The largest fund to close was Asia Alternatives Capital Partners III (AACP III), which closed at US$908 million, above its US$800 million target. The other fund vehicles closed with… Read More
International Finance Corporation (IFC) has announced that it will provide a US$70 million convertible loan to Nigerian commercial bank, Diamond Bank, in partnership with the Africa Capitalization Fund, a private equity fund managed by IFC Asset Management Company. Diamond Bank will use the loan to expand its lending program… Read More
Indonesia-focused private equity firm Capsquare Asia Partners has achieved a first close on its debut fund. The fund, targeting US$75 million in total commitments, has reportedly raised three-quarters of that amount. Capsquare is focusing on consumer-driven sectors such as consumer goods, retail, education and healthcare. The firm plans to… Read More
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