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IDFC Exits Essar Power for US$87.1 Million (Asia)
IDFC Alternatives, the alternative asset management arm of India-focused infrastructure financing company IDFC, has fully exited India-based power plant operator Essar Power to undisclosed private investors for INR5.8 billion (approximately US$87.1 million). IDFC, which originally invested INR3.5 billion (approximately US$67 million) in 2009 through India Infrastructure Fund I for a 1.5 percent stake in the company, reportedly generated a return… Read More
VinaCapital Exits Sofitel Legend Metropole Hanoi to Joint Venture with Warburg Pincus (Asia)
Asset management firm VinaCapital’s Vietnam Opportunity Fund (VOF) has reportedly exited its 50 percent stake in Vietnam-based hotel Sofitel Legend Metropole Hanoi to the hospitality joint venture owned by the firm and global private equity fund manager Warburg Pincus for US$100 million. The transaction follows the November 2016 partnership agreement between Warburg Pincus and VinaCapital to create an integrated hospitality… Read More
Carlyle to Exit Crystal Orange Hotel to China Lodging for US$530 Million (Asia)
Global alternative asset management firm The Carlyle Group has agreed to exit China-based boutique hotel operator Crystal Orange Hotel Holdings as part of Nasdaq-listed hotel chain China Lodging Group’s acquisition of the company for CNY3.65 billion (approximately US$530 million), subject to customary post-closing adjustments. Carlyle acquired a 49 percent stake in Crystal Orange’s parent company Mandarin Hotel Holdings in June… Read More
Medu Capital Invests in HeroTel (Sub-Saharan Africa)
South Africa-focused private equity firm Medu Capital has acquired a 15 percent stake in South Africa-based wireless broadband internet service provider Hero Telecomms (HeroTel) for ZAR74.25 million (approximately US$5.75 million). With Medu’s support, HeroTel plans to fund its ongoing acquisition plans. Read More
KKR Invests in Gambol Pet Group (Asia)
Global investment firm KKR has invested in China-based pet food company Gambol Pet Group through its China Growth Fund. With KKR’s support, Gambol plans to expand its production capacity in China, Thailand, Europe and the United States. Financial details of the transaction were not disclosed. Read More
Abraaj Acquires Middlesex University’s Dubai Campus (MENA)
Global growth markets investor The Abraaj Group has acquired Middlesex University’s overseas campus in Dubai. Abraaj reportedly paid 11x earnings before interest, tax, depreciation and amortization. Financial details of the transaction, which closed at the end of January, were not disclosed. Read More
Jacob Ballas Increases Stake in Adlabs Entertainment (Asia)
Private equity advisory firm Jacob Ballas Capital India has acquired an additional 1.7 percent stake in India-listed theme parks operator Adlabs Entertainment for INR110 million (approximately US$1.6 million), bringing its total stake in the company to six percent. Jacob Ballas, which had previously acquired shares in the company in 2014 and 2016, invested through NYLIM Jacob Ballas India Holdings IV.… Read More
L Catterton Invests in Rapsodia (Latin America)
Global consumer-focused private equity firm L Catterton has invested in Argentina-based women’s apparel company Rapsodia through L Catterton Latin America II. The company operates 90 stores across Argentina, Mexico, Chile, Uruguay, Colombia and Paraguay. With the support of L Catterton and existing shareholder Grupo de Narváez, Rapsodia plans to expand its brand across Latin America and globally. Financial details of… Read More
Participate in Wall Street Journal’s Financial Inclusion Challenge 2017
The Wall Street Journal invites nonprofit and for-profit enterprises to enter The Financial Inclusion Challenge competition and to showcase their solutions to the problems of financial access for the poor in the Asia-Pacific region. The competition is part of an editorial initiative aimed at providing insight into the challenges and triumphs faced in creating financial access for some of the more than two… Read More
Just Released! EMPEA Year-End Industry Statistics
2016 Emerging Markets Private Capital Activity Dips Year-Over-Year Despite Upswings in Select Markets, Strategies and Sectors Highlights Include Turkey, Mexico, Nigeria, Private Credit, Venture Capital and Oil & Gas EMPEA’s just-released Year-End 2016 Industry Statistics reveal that emerging markets (“EM”) private capital fundraising and investment—inclusive of private equity, private infrastructure and real assets and private credit—declined 9.4% and 12% year-over-year,… Read More
Kejora Star Capital II Reaches US$21 Million First Close (Asia)
Southeast Asia-focused venture capital firm Kejora Ventures has reached a first close for Kejora Star Capital II with US$21 million in capital commitments. Investors in the fund include Indonesia-based diversified industrials group Barito Pacific, Thailand-based conglomerate Charoen Pokphand Group and Germany-based Hubert Burda Media. The fund, which is targeting US$50 million to US$80 million in total commitments, will focus on… Read More
Qiyi.com Raises US$1.5 billion from Hillhouse Capital, IDG Capital, Sequoia Capital and Others(Asia)
China-based Qiyi.com (also known as iQiyi), a video-streaming platform majority-owned by search engine operator Baidu, has raised US$1.53 billion through the issuance of convertible notes to private equity and venture capital firms Hillhouse Capital, IDG Capital, Boyu Capital, Run Liang Tai Fund, Sequoia Capital China and Everbright-IDG Industrial Fund, an investment fund jointly launched by private equity firms China Everbright… Read More