India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) has exited its 19.3 percent stake in Bharat Fritz Werner (BFW), a tool manufacturing company with facilities in India and Germany, for INR711.9 million (approximately US$11.8 million). IIML has reportedly generated an internal rate of return of 15 percent… Read More
Southeast Asia-focused oil and gas company KrisEnergy, which is backed by global private equity and infrastructure investment firm First Reserve, closed its first day of trading on the Singapore Exchange (SGX-ST) at SGD1.155 (approximately US$0.91) per share, a five percent increase from its offering price of SGD1.10 (approximately US$0.87). Read More
China-focused private equity firm Hony Capital has divested its entire holding in Jiangsu Phoenix Publishing & Media (Phoenix). Hony acquired 150 million shares in Phoenix for RMB481 million (approximately US$77.8 million) in May 2008, and in May 2013, began the divestment process, selling 25 million shares of Phoenix for… Read More
Southeast Asia-focused private equity buyout firm Southern Capital Group (SCG) has reportedly closed its third fund with US$408 million in commitments, surpassing its target of US$350 million. SCG targets middle market businesses with enterprise values of between US$20 million and US$200 million. SCG’s prior funds include Mulberry Asia Fund… Read More
China New Enterprise Investment (CNEI), a China-focused growth capital fund manager, has invested US$9.7 million in Zhanjiang Newpro Foods (Newpro), a China-based company involved in the breeding, culturing, farming and processing of prawns. Along with the investment, CNEI has introduced international experts to Newpro for future breeding of pathogen-free… Read More
India-focused online retailer Flipkart has raised US$200 million in its fifth round of funding from existing investors, including Accel Partners, Tiger Global and global multi-family office ICONIQ Capital. South Africa-based multinational media company Naspers also participated in the round. In 2012, Flipkart raised a reported US$150 million in a… Read More
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has invested in India-based file sharing, sync and mobility vendor Vaultize. The new capital will be used to help the company scale up its go-to-market strategy, including expansion in the United States and Europe. Financial details of… Read More
Hong Kong-based LJ International, a leading colored gemstone and diamond jeweler with retail and wholesale businesses, has announced its shareholders’ approval of a proposed management buyout by China-focused private equity firm FountainVest. Upon completion of the transaction, LJ International will be delisted from the NASDAQ Stock Market and owned… Read More
International middle-market private equity firm Citi Venture Capital International (CVCI Private Equity) has invested INR3.4 billion (approximately US$55.8 million) in India-based engineering company Sansera Engineering. The company, which operates seven manufacturing and machining plants across four Indian states, intends to use the funds for further business expansion. Read More
Asia-focused private equity firm Baring Private Equity Asia (BPEA) has agreed to buy South Korean courier services provider Logen Logistics from Mirae Asset Private Equity, an international asset management firm, for roughly KRW160 billion (approximately US$139 million). The transaction will be structured through BPEA Fund V. Mirae Asset Private… Read More
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