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KKR Invests US$59 Million in TVS Logistics’ Promoters (Asia)
Global investment firm KKR has invested INR4 billion (approximately US$59 million) in the promoter family of India-based TVS Logistics via a long-term structured credit partnership. The promoters of TVS plan to use the funds to buy the company’s shares from private equity funds. KKR originally invested in TVS Logistics in 2012 and agreed to exit its 21.4 percent equity stake… Read More
Resource Partners Holds First Close for Second Fund, Acquires Cosmetics Company Torf (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Resource Partners has reached a first close for Resource Eastern European Equity Partners II (REEEP II) with EUR100 million (approximately US$106 million) in capital commitments. The close took place in December 2016. Investors in the fund include development finance institutions the European Bank for Reconstruction and Development (EBRD) and the European Investment… Read More
CITIC Capital Partners Leads US$14.6 Million Series B Round for Samoyed Financial (Asia)
CITIC Capital Partners, the private equity arm of CITIC Capital, has led a Series B round of CNY100 million (approximately US$14.6 million) for China-based fintech company Samoyed Financial. Yonghua Capital, an investment firm of China-based financial services group Yonjiin Group, also participated in the round. Founded in 2015, Samoyed provides balance transfer and credit card services. Read More
The Abraaj Group Acquires Majority Stake in Casaideas (Latin America)
Global growth markets investor The Abraaj Group has acquired a majority stake in Chile-based home design and decorations company Casaideas. The company currently operates over 50 stores in Chile, Peru and Bolivia, and it will focus on expanding product availability through the launch of an e-commerce platform. Financial details of the transaction were not disclosed. Read More
Warburg Pincus Acquires Stake in Cinema Operator PVR From Multiples Alternate Asset Management(Asia)
Global private equity firm Warburg Pincus has acquired a 14 percent stake in National Stock Exchange- and Bombay Stock Exchange-listed cinema multiplex operator PVR for approximately INR8.2 billion (approximately US$120 million). Warburg Pincus acquired the stake from affiliates of India-focused private equity firm Multiples Alternate Asset Management (Multiples PE) and the company’s promoters. Multiples PE will retain a 14 percent… Read More
Nexus Venture Partners Leads US$5 Million Series A Round for Zolo (Asia)
India-focused venture capital firm Nexus Venture Partners has led a Series A round of US$5 million for India-based managed accommodations platform Zolo. The funding round also included venture debt from Asia-focused venture lending firm InnoVen Capital. Zolo plans to use the funds to increase its number of beds under management and expand its geographic presence in India to Chennai and… Read More
The Carlyle Group Agrees to Acquire 49.9 Percent Stake in Global Credit Ratings (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has agreed to acquire a 49.9 percent stake in South Africa-based emerging markets-focused credit rating agency Global Credit Ratings. The company serves customers across 20 countries, focusing on insurance, financial institutions, corporate and public sector entities and structured finance. Carlyle will invest through Carlyle Sub-Saharan Africa Fund. Financial details of the transaction, which… Read More
TPG, Jeneration Capital and China Vision Capital Lead US$500 Million Investment in Uxin (Asia)
Global private investment firm TPG and China-focused investment firms Jeneration Capital and China Vision Capital have led an investment of US$500 million in China-based used-car trading platform Uxin. Other investors in the round include Warburg Pincus, KKR, Tiger Global Management, Hillhouse Capital, Huasheng Capital and an investment fund managed by China-based advertising company Focus Media. Uxin will use the funds… Read More
CDG Capital Private Equity Exits Intelcia in Sale to Altice Group (MENA)
North Africa-focused private equity firm CDG Capital Private Equity has exited Morocco-based regional outsourcing company Intelcia via sale to Netherlands-based telecommunications company Altice Group for a reported 4.6x return multiple. CDG capital originally invested in Intelcia in 2010. Financial details of the transaction were not disclosed. Read More
AfricInvest and Bpifrance Launch French African Fund (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest and France-based investment bank Bpifrance have launched the French African Fund with EUR77 million (approximately US$82 million) in capital commitments. The fund will invest in small and medium-sized enterprises in both Africa and France, assisting African companies with their expansion into France and the European continent and helping French companies with strategic development in Africa.… Read More
Investec Equity Partners Acquires iDwala from Ethos Private Equity and Others (Sub-Saharan Africa)
Investec Equity Partners, the principal investments division of Investec Asset Management, has acquired South Africa-based industrial lime producer iDwala Industrial Holdings from South Africa-based investors Ethos Private Equity, Kagiso Tiso Holdings and Old Mutual Private Equity. Investec reportedly completed the acquisition in December 2016. Financial details of the transaction were not disclosed. Read More
Finansa Fund Management Agrees to Invest US$6.6 Million in NEO Corporate (Asia)
Finansa Fund Management (FFM), a wholly-owned subsidiary of Thailand-based financial services and investment firm Finansa, has agreed to invest THB237 million (approximately US$6.6 million) in Thailand-based household and personal care products manufacturer NEO Corporate. FFM will invest via a loan with a five-year term that is exchangeable into shares of NEO Corporate. NEO plans to use the funds to construct… Read More