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Hillhouse Capital Reaches Final Close of US$10.6 Billion for Fund IV (Asia)
China-focused private equity fund manager Hillhouse Capital has reached a final close for Hillhouse Fund IV with US$10.6 billion in capital commitments. Investors in the fund include San Francisco Employees Retirement Fund, which committed US$100 million, Texas County and District Retirement System, which committed US$85 million, and other pension funds, sovereign wealth funds and financial institutions. Fund IV will seek… Read More
Warburg Pincus Invests US$400 Million in NewEase China (Asia)
Global private equity fund manager Warburg Pincus and warehousing and logistics company NewEase China have each invested US$400 million to establish a logistics platform, which will also operate under the NewEase China name. The new enterprise will primarily serve e-commerce companies operating through domestic airports and urban hubs. Warburg will hold a 50 percent stake in the platform. Read More
Motilal Oswal Reaches US$80 Million First Close for Fourth Real Estate Fund (Asia)
India-focused alternative investment fund manager Motilal Oswal Private Equity has reached a first close for India Realty Excellence Fund IV (IREF IV) with INR5.75 billion (approximately US$80 million) in capital commitments. Investors in the fund include high-net worth individuals and family offices, including several existing investors in the firm’s previous funds. IREF IV will target early-stage equity and debt investments… Read More
Indies Capital Partners Reaches US$145 Million Final Close for Second Private Credit Fund (Asia)
Indonesia-focused alternative asset manager Indies Capital Partners has reached a final close for its second private credit fund with US$145 million in capital commitments. Investors in the fund include financial institutions, corporations and family offices. The fund will target private credit and special situations transactions in Southeast Asia, with a focus on Indonesia-based companies. Read More
GSR Ventures Reaches Final Close of US$400 Million for Sixth Venture Capital Fund (Asia)
China-focused technology investor GSR Ventures has reached a final close for its sixth venture capital fund with US$400 million in capital commitments. The fund, which launched in October 2017 with an initial target of US$325 million, will pursue seed and Series A, as well as select Series B, investments in China-based technology startups. Read More
Helios Acquires 76 Percent Stake in TPAY Mobile from A15 (MENA)
Africa-focused private investment firm Helios Investment Partners has acquired a 76 percent stake in U.A.E.-based payments company TPAY Mobile from A15, a MENA- and Europe-focused technology investment firm. TPAY provides mobile phone-enabled direct carrier billing services to customers in 16 countries in the Middle East and North Africa. Financial details of the transaction were not disclosed. Read More
Alta Growth Capital and The Abraaj Group Invest US$100 Million in Docuformas (Latin America)
Private equity fund managers Alta Growth Capital (AGC) and The Abraaj Group have invested US$100 million for a majority stake in Docuformas, a Mexico-based company that distributes and finances office equipment. Funds managed by AGC and Abraaj purchased a 51.31 percent stake from Docuformas chairman Adam Peter Jan Wiaktor Rynkiewicz, the Abraaj-managed Aureos Latin America Fund I and Fiduciaria Colombiana… Read More
KKR to Exit MMI Holdings for US$645 Million, Invest US$294 Million in Max Healthcare Institute (Asia)
Global alternative investment manager KKR has agreed to sell MMI Holdings, a Singapore-based hard-drive component producer, to a China-based consortium for US$645 million including debt. The acquiring consortium is led by an affiliate of Beijing HBH Innovation Industry Fund and includes China-focused private equity fund manager Cybernaut Investment. KKR acquired a 73 percent stake in MMI for US$700 million, including… Read More
Golden Gate Ventures Reaches US$100 Million Final Close for Third Fund (Asia)
Southeast Asia-focused venture capital fund manager Golden Gate Ventures has reached a final close for its third fund with US$100 million in capital commitments. Investors in the fund include Singaporean sovereign wealth fund Temasek Holdings, corporate investors Hanwha, Naver and Mitui Fudosan and investment firms CTBC Group, EE Capital, Ion Pacific, Mistletoe and Korea Venture Investment Corporation. The fund plans… Read More
Walmart Acquires Venture Capital-backed Cornershop for US$225 Million (Latin America)
U.S.-based discount retailer Walmart has agreed to acquire Cornershop, a U.S.-based grocery delivery company serving customers in Mexico and Chile, for US$225 million. Cornerhsop is backed by philanthropic investor Endeavor Catalyst, the Grupo Bimbo family office and venture capital firms ALLVP, Accel Partners, Creandum and Jackson Square Ventures. The transaction is subject to regulatory approval and expected to close by… Read More
BlackRock Raises US$500 Million for Third Mexican Infrastructure Fund in CerPi Listing (Latin America)
Global asset manager BlackRock has raised US$500 million for BlackRock México Infraestructura III via the listing of a Certificado de Proyectos de Inversión (CerPi) on the Mexican Stock Exchange. The fund, which was listed under the ticker symbol BLKCPI 18, will invest in energy, transportation, water and social infrastructure projects in Mexico, Chile, Colombia, Peru and other Latin American countries. Read More
Blackstone-led Consortium to Acquire Majority Stake in Luminor for US$1.2 Billion (CEE and CIS)
A consortium led by global alternative asset manager The Blackstone Group has agreed to acquire a 60 percent stake in Baltics-focused Luminor Bank for EUR1 billion (approximately US$1.2 billion) in cash. The consortium will acquire the stake from financial services groups Nordea and DNB, which are based in Sweden and Norway, respectively. The two Scandinavia-based banks established Luminor in 2017… Read More