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ShawKwei & Partners to Sell YongLe Tape to Avery Dennison for US$190 Million (Asia)
United States-listed packaging materials company Avery Dennison has agreed to acquire China-based YongLe Tape Company, a manufacturer of specialty tapes and related products, from Asia-focused private equity fund manager ShawKwei & Partners and the company’s management for US$190 million. The purchase price is subject to customary adjustments, including additional earn-outs of up to US$55 million, contingent on performance targets over… Read More
Stellaris Venture Partners Holds US$50 Million First Close for Maiden Fund (Asia)
India-focused venture capital firm Stellaris Venture Partners has held a first close for its maiden fund with US$50 million in capital commitments. Investors in the fund include software services company Infosys, as well as financial institutions, corporate investors, entrepreneurs and family offices in the United States, Europe and Asia. The fund, which is targeting US$100 million in total commitments, will… Read More
AIIM Acquires 60 Percent Stake in DSM Corridor Group (Sub-Saharan Africa)
African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments, has acquired a 60 percent effective interest in Tanzania-based dry bulk terminal operator DSM Corridor Group Tanzania (DCG). AIIM invested through strategic holding company African Ports and Corridors Holdings, which will facilitate the acquisition of further terminals and other corridor expansions in the region. Financial details of the… Read More
The Carlyle Group Acquires Minority Interest in FS (Latin America)
Global alternative asset manager The Carlyle Group has acquired a minority stake in Brazil-based FS, a technology solutions provider active in digital security, cloud services, insurance, specialized technical support, mobile learning and interactive services. Carlyle invested through Carlyle South America Buyout Fund and Carlyle Peru Fund. Financial terms of the transaction, which was completed in December 2016, were not disclosed. Read More
CDH Investments Reduces Stake in WH Group via Distribution in Kind to Investors (Asia)
China-focused private equity firm CDH Investments has partially exited its stake in China-based pork producer WH Group via a distribution in kind to applicable investors of 537.2 million shares representing a 3.7 percent stake in the company. The shares are worth approximately HKD3.36 billion (approximately US$433 million). CDH continues to hold a 9.3 percent stake in WH Group. Read More
Hyundai Commercial & Affinity Equity Partners-led Consortium to Acquire Hyundai Card Company (Asia)
Hyundai Commercial, an affiliate of South Korea-based Hyundai Motor Group, and a private equity consortium led by Asia-focused fund manager Affinity Equity Partners have agreed to acquire a combined 43 percent stake in South Korea-based Hyundai Card Company from General Electric. Hyundai Commercial and the Affinity-led consortium, which includes Singaporean sovereign wealth fund GIC and global fund of funds manager… Read More
Jacob Ballas and New York Life Investment Management to Invest US$50 Million in CentrumDirect (Asia)
Private equity advisory firm Jacob Ballas Capital India and New York Life Investment Management (NYLIM) have agreed to acquire a minority stake in CentrumDirect, the foreign exchange business unit of Bombay Stock Exchange-listed financial services company Centrum Capital. The firms will reportedly invest US$50 million for a 30 percent stake in the company, with NYLIM committing US$20 million to the… Read More
EXEO Capital Holds First Close for Agri-Vie Fund II (Sub-Saharan Africa)
Pan-African private equity investment firm EXEO Capital has reached a first close for Agri-Vie Fund II with more than US$100 million in capital commitments. The fund, which is targeting US$150 million to US$200 million in total commitments, will focus on the food and agribusiness sector in Sub-Saharan Africa. Read More
ARX Equity Partners to Acquire Nutricia Deva (CEE and CIS)
ARX Equity Partners, a private equity fund manager focused on mid-sized companies in Central Europe, has agreed to acquire Czech Republic-based baby fruit desserts and fruit drinks producer Nutricia Deva from France-based food company Danone Group. ARX will invest through its fourth private equity fund alongside food industry entrepreneur Keith Dilworth. As part of the transaction, Deva will continue to manufacture… Read More
3i Group, Neuberger Berman and Siguler Guff to Exit Óticas Carol for US$118 Million (Latin America)
Private equity investors 3i Group, Neuberger Berman and Siguler Guff & Company have agreed to sell their interests in Brazil-based eyewear retailer Óticas Carol as part of an EUR100 million (approximately US$118 million) acquisition of 100% of the company by Italy-based eyewear group Luxottica. 3i, Neuberger Berman and Siguler Guff originally invested in Óticas Carol in 2013. The transaction, which… Read More
Inspired Evolution Exits Four Renewable Energy Investments (Sub-Saharan Africa)
Inspired Evolution Investment Management, an Africa-focused investment advisory firm specializing in clean energy infrastructure and resource efficiency, has sold its stakes in South Africa-based renewable energy projects Slimsun Swartland Solar Park, Kouga Wind Farm and Solar Capital De Aar to South Africa-based TriAlpha Investment Management. The firm’s interest in Solar Capital De Aar was held through Fifth Season, a black… Read More
AfricInvest Invests US$18 Million in Azalaï Hotels (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has invested EUR17.3 million (approximately US$18 million) in Mali-based hospitality group Azalaï Hotels. AfricInvest invested through AfricInvest III. Azalaï will use the new funds to expand across West Africa, increase capacity and upgrade service. Read More