Global private investment firm TPG has acquired China-based HCP Holdings for approximately US$600 million after securing a US$300 million five-year loan from a consortium of lenders, including Citigroup, DBS, Chinatrust Commercial Bank, Fubon Bank and Cathay Bank. HCP Holdings produces specialty packaging for the cosmetics, toiletries, skincare and fragrance… Read More
Bain Capital has announced the final close of its second Asia fund at US$2.3 billion, exceeding its hard cap of US$2 billion and more than doubling the US$1 billion Bain raised for its first Asia-focused fund in February 2007. Bain Capital Asia Fund II reportedly received commitments of US$100… Read More
The Carlyle Group has acquired 10 percent of Indian engineering and IT services firm Infotech Enterprises for INR2.1 billion (approximately US$38 million) through its South Asia-focused affiliate, First Carlyle Ventures Mauritius. Carlyle paid INR190 (approximately US$3.40) per share in the PIPE deal, the firm’s second of the… Read More
Turkish private equity firm Crescent Capital has completed its first investment, a 60.4-megawatt photovoltaic power plant in Bulgaria. Crescent made the investment through its Clean Energy Transition Fund, a Turkey and Southeast Europe-focused energy infrastructure fund. Saudi infrastructure developer and operator ACWA Power and U.S. energy infrastructure investor First… Read More
Adlevo Capital Managers, a private equity fund manager focused on technology investments in Sub-Saharan Africa, and Intel Capital, Intel’s global investment and M&A arm, have invested in Rancard Solutions, a Ghana-based provider of cloud-based mobile software and services. Rancard’s services map connections among mobile users, allowing operators to deliver… Read More
Turkish fund manager Verusa Private Equity has acquired a 40 percent stake in Alden Steel, an Istanbul-based manufacturer of steel structures, platform grating and industrial equipment. Alden is Verusa’s second industrial investment. Financial terms of the transaction were not disclosed. Read More
Waco International, a South Africa-based provider of forming, shoring and scaffolding services, as well as mobile modular buildings and sanitation services, has been sold to a consortium led by Ethos Private Equity. Also participating in the transaction were South African private equity firm RMB Ventures, African bank Standard Bank… Read More
Standard Chartered Private Equity (SCPE) has partnered with South Korea’s national pension fund National Pension Services (NPS) to invest US$45.5 million for a 48 percent stake in Smoothies Korea, the Korean franchise of U.S.-based beverage chain Smoothie King. Standard Chartered will invest US$26.4 million for a 28 percent stake… Read More
Global private equity firm Warburg Pincus will invest US$200 million in Beijing-based China Auto Rental, a car rental service with 600 locations covering 66 cities and 52 airports across China. Warburg Pincus will partner with Legend Capital, which invested RMB1 billion (US$157 million) in China Auto Rental in August… Read More
India-based venture capital fund management company IvyCap Ventures Advisors has completed a first close of INR1.05 billion (approximately US$19 million) for its debut SME fund, IvyCap Ventures Trust Fund I. The fund, which aims to raise a total of INR2 billion (approximately US$36 million), will target the healthcare, energy,… Read More
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