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PAG Raises US$6 Billion for Third Asia Buyout Fund (Asia)
Asia-focused alternative investment manager PAG has reached a final close for its third pan-Asia buyout fund with US$6 billion in capital commitments. Investors in the fund, which reportedly launched in June 2018 with a target of US$4.5 billion, include U.S.-based pension funds and Kuwaiti and Singaporean sovereign wealth funds. Read More
IFC Invests US$10 Million in Twiga Foods with TLcom Capital, Partially Exits Hamkorbank to responsAbility Investments (Africa, CEE and CIS)
International Finance Corporation (IFC) and venture capital firm TLcom Capital have led an investment of US$10 million in Twiga Foods, a Kenya-based agribusiness technology company. Other participants in the funding round include existing investors Wamda Capital, DOB Equity, 1776 and AHL Venture Partners. The company, which connects smallholder farmers to urban vendors through mobile phone technology, will use the new… Read More
Emerging Capital Partners Raises US$640 Million for Fourth Pan-Africa Fund (Africa)
Africa-focused private equity fund manager Emerging Capital Partners (ECP) has reached a final close for ECP Africa Fund IV (AFIV), garnering more than US$640 million in commitments to the fund and related co-investments. The fund’s investors—over half of which are Africa-based, with the remainder based in Europe and North America—include Old Mutual Africa Private Equity Fund of Funds, a 57… Read More
Elevar Equity Leads Investment of US$5 Million in Bankingly (Latin America)
Emerging markets-focused venture capital firm Elevar Equity has led an investment of US$5 million in Bankingly, a Uruguay-based digital financial services company. The Rise Fund, TPG’s global impact investing fund, and philanthropic investor Endeavor Catalyst also participated in the funding round. Bankingly—which provides software-as-a-service products to financial institutions that serve low-income and underserved customers—will use the funds to expand its… Read More
Jet Investment Raises US$176 Million for Second Fund (CEE and CIS)
Central and Eastern Europe-focused private equity firm Jet Investment has raised CZK4 billion (approximately US$176 million) for Jet 2 from more than 160 private investors, family investment companies and financial institutions including banks, insurance companies and international asset managers. The fund will focus on acquiring majority stakes in small and medium-sized enterprises in the engineering, automotive, alternative energy, specialty chemicals… Read More
Capria Reaches First Close for Second Fund (Multi-region)
Global impact investing firm Capria has reached a first close for Capria Fund, a “network fund” that will make commitments to Capria-affiliated fund managers investing in early-growth businesses in Africa, Asia and Latin America. Vulcan Capital, the investment arm of late Microsoft co-founder Paul Allen, committed US$20 million to the fund. Other new investors in the fund include Omidyar Network,… Read More
Warburg Pincus Invests US$181 Million in Weave Co-Living (Asia)
Global private equity fund manager Warburg Pincus has invested US$181 million in China-based rental accommodation provider Weave Co-Living with the option to increase its commitment to US$413.5 million. Weave, which targets millennials and young professionals, plans to use the new capital to grow its portfolio in gateway cities across the Asia-Pacific region. Over time, Weave aims to launch new rental… Read More
Sarmayacar Reaches US$30 Million First Close for Debut Fund (Asia)
Pakistan-focused venture capital firm Sarmayacar has reached a first close for its debut seed- and early-stage fund with US$30 million in capital commitments. The fund will invest between US$100,000 and US$2 million in technology companies, as well as those employing technology-enabled business models. Read More
Darby Private Equity Provides US$30 Million in Financing to Abengoa Peru (Latin America)
Darby Private Equity, the private equity and mezzanine arm of Franklin Templeton Investments, has provided up to US$30 million in long-term debt financing to the Peru-based subsidiary of Abengoa, a Spain-listed infrastructure developer. Darby invested through Darby Latin American Private Debt Fund III. Abengoa Peru plans to use the funding to pay outstanding debts and develop new energy projects domestically. Read More
Jaguar Invests in Bresco (Latin America)
Real estate-focused emerging markets investment firm Jaguar Growth Partners has acquired a minority stake in Brazil-based industrial real estate company Bresco through Jaguar Real Estate Partners II. Bresco seeks to grow its property portfolio and invest more than US$500 million over the next few years. Jaguar plans to support Bresco’s expansion plans by attracting additional growth capital through co-investment. Financial… Read More
TRG to Exit BHC Group (Asia)
Emerging markets-focused alternative asset manager The Rohatyn Group (TRG) has agreed to sell South Korean fried chicken restaurant franchisor BHC Group back to its founder in a transaction that reportedly values the company at KRW600 billion (approximately US$536 million). NH Investment & Securities is providing debt financing to facilitate the sale while North Asia-focused private equity fund manager MBK Partners’… Read More
Motilal Oswal Raises US$320 Million for Third Fund (Asia)
India-focused alternative investment fund manager Motilal Oswal Private Equity has reached a final close for India Business Excellence Fund III with more than INR23 billion (approximately US$320 million) in capital commitments, 75 percent of which came from domestic investors. Investors in the fund include domestic and global institutions, family offices, high-net worth individuals, Motilal Oswal Financial Services and the investment… Read More