The growing size of criminal penalties imposed on U.S. companies, including under the U.S. Foreign Corrupt Practices Act, which rohibits bribery of foreign (non-U.S.) government officials and can also reach private commercial bribery, is attracting increasing attention. But could an FCPA enforcement action actually wipe out the value of your investment? That is what happened to… Read More
Private equity firm Sarona Asset Management has held a final close for Sarona Frontier Markets Fund 2 with US$150 million in capital commitments. Investors included institutional investors, family offices and high-net-worth individuals. Sarona Frontier Markets Fund 2 targets locally-based private equity funds across Africa, Asia and Latin America and has… Read More
What is Emerging Markets Mezzanine Financing? Access to finance is one of the most prevalent challenges facing countless entrepreneurs and business owners across the emerging markets. Local banks have traditionally focused their lending on only a handful of large companies—in part, because they view smaller firms as having insufficient assets… Read More
Key findings from the 2014 Global Limited Partners Survey include: 41% of LPs* plan to increase the percentage of their total PE allocation targeted at emerging markets over the next two years, higher than the 32% reporting similar intentions in the 2013 survey. 54% of LPs* expect to increase the dollar value… Read More
Bima, a provider of mobile-delivered insurance in emerging markets, has raised US$22 million from existing shareholders Swedish investment firm Kinnevik, emerging markets financial services investor LeapFrog Investments and international telecommunications and media company Millicom. The follow-on funding will be used to support the company’s expansion into new markets in… Read More
Multi-strategy private equity investment firm Siguler Guff & Company has closed its most recent commingled fund, the Siguler Guff BRIC Opportunities Fund III (BRIC III), with US$650 million in capital commitments. The firm also closed three emerging markets-focused separate accounts during its latest fundraising cycle. BRIC III will target… Read More
Templeton Asset Management, a financial services subsidiary of Franklin Templeton Investments, has reached a final close on its latest emerging markets fund, Templeton Strategic Emerging Markets Fund IV, with more than US$220 million in capital commitments. The vehicle, which launched in March 2012 with a target of US$300 million,… Read More
In keeping with our monitoring of issues in both emerging markets and the developed markets that so often shape reforms elsewhere, this tenth issue of the EMPEA Legal and Regulatory Bulletin looks at developments impacting investors in South Asia, the Middle East, China and Europe. Orrick, Herrington & Sutcliffe’s John… Read More
The Global Firms’ Views Koenraad Foulin, Co-Founder and Senior Managing Partner, Capital International Private Equity Funds For Capital Group, 2013 was a year to invest beyond the BRICs. Our 2011 fund, CIPEF VI, completed four new investments—three of which were in emerging markets outside the BRIC countries. We made our… Read More
Pan-emerging markets private equity firm Actis has closed its third energy fund, Actis Energy 3, with US$1.15 billion in capital commitments. The fund was oversubscribed, exceeding its original target of US$750 million. Investors in the fund include public pension funds, sovereign wealth funds and families from the United States,… Read More
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