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Cathay Capital Private Equity and Fortune Venture Capital Lead a Series D Round for Aihuishou (Asia)
Cross-border private equity firm Cathay Capital Private Equity and China-focused venture capital firm Fortune Venture Capital have led a CNY400 million (approximately US$58 million) Series D round for China-based smartphone and consumer electronics recycling company Aihuishou. Early-stage venture capital firm Morningside Ventures and other existing investors also participated in the round. Aihuishou plans to use the new capital to expand… Read More
Value4Capital Exits MedLife for US$43 Million via IPO on Bucharest Stock Exchange (CEE and CIS)
Central Europe-focused private equity firm Value4Capital (V4C) has exited its entire 36 percent stake in Romania-based private health care services company MedLife for RON189 million (approximately US$43 million) via an initial public offering on the Bucharest Stock Exchange. V4C, which originally invested in MedLife in 2009, reportedly generated a 2x gross return multiple on its investment. Read More
Brookfield to Acquire Reliance Communications’ Tower Assets for US$1.6 Billion (Asia)
Brookfield Asset Management has agreed to acquire a 100 percent interest in the tower assets of India-based telecommunications provider Reliance Communications for INR110 billion (approximately US$1.6 billion). Brookfield will invest through NYSE- and TSX-listed Brookfield Infrastructure Partners. The transaction is subject to regulatory and shareholder approval. Read More
Tridevi Capital Partners to Invest US$20 Million in Prabha Energy (Asia)
Private equity investment advisory firm Tridevi Capital has agreed to invest US$20 million in Prabha Energy (PEPL), a subsidiary of Bombay Stock Exchange- and National Stock Exchange-listed oil and gas exploration company Deep Industries. Tridevi made the investment through a subscription of compulsorily convertible debentures, which will represent a 40 percent equity stake in PEPL upon conversion. PEPL will use… Read More
EuroMena Completes Final Close for Third Fund with US$150 Million in Commitments (MENA)
Middle East and North Africa-focused private equity fund manager EuroMena has reached a final close for EuroMena III with US$150 million in capital commitments. Investors include development finance institutions European Investment Bank, CDC, DEG, Proparco and International Finance Corporation. CDC committed US$20 million. The fund will extend EuroMena's geographic focus to Sub-Saharan Africa, while continuing the firm's existing investment strategy… Read More
Kedaara Capital to Invest US$63 Million in Vijaya Diagnostic Centre (Asia)
India-focused private equity firm Kedaara Capital has agreed to invest INR4.3 billion (approximately US$63 million) for a minority stake in India-based medical diagnostic chain Vijaya Diagnostic Centre. Vijaya provides diagnostic services spanning radiology, imaging, nuclear medicine, conventional and specialty laboratory services and diagnostic cardiology. The company operates 30 locations in Hyderabad, as well as centers in Kolkata, Bangalore, Gurgaon, Visakhapatnam,… Read More
DEG, OeEB, BSTDB and Cordiant Invest US$69 Million in Hayat Kimya Sanaki (CEE and CIS)
German development finance institution DEG has arranged EUR66 million (approximately US$69 million) in debt financing for Turkey-based household goods and hygienic products manufacturer Hayat Kimya Sanaki. Co-financers include emerging markets-focused private credit fund manager Cordiant Capital, the Development Bank of Austria (OeEB) and the Black Sea Trade and Development Bank (BSTDB). DEG provided a long-term loan of EUR25 million (approximately… Read More
Primavera Capital Fund II Reaches Final Close with US$1.9 Billion in Commitments (Asia)
China-focused private investment firm Primavera Capital Group has reached a final close for its second U.S. dollar-denominated China-focused fund with US$1.9 billion in commitments, surpassing its US$1.5 billion target. Investors in the fund include Pennsylvania State Employee’s Retirement System, Taiwan Semiconductor Manufacturing, the Second Swedish National Pension Fund, China-based Taikang Insurance Group and Finland-based Varma Mutual Pension Insurance. Primavera focuses… Read More
Gulf Credit Opportunities Fund II Reaches Final Close with More Than US$250M in Commitments (MENA)
Middle East-focused alternative asset manager Gulf Capital has reached a final close for its second private debt and mezzanine fund, Gulf Credit Opportunities Fund II, over its target of US$250 million in capital commitments. Investors in the fund include sovereign wealth funds, international institutional investors, regional insurance companies, foundations and family offices. Development finance institution International Finance Corporation committed US$25… Read More
Careem Raises US$350 Million from Rakuten, Saudi Telecom, Abraaj, Wamda Capital, and Others (MENA)
United Arab Emirates-based ride-hailing company Careem has raised US$350 million in a round led by Japan-based e-commerce and internet company Rakuten and telecom operator Saudi Telecom Company. Global growth markets investor The Abraaj Group; venture capital firms Wamda Capital, Beco Capital, Endure Capital and Lumia Capital; asset manager SQM Frontier Management and a series of corporate investors also participated in… Read More
CNEI Exits IAT Automobile Technology for US$28 Million (Asia)
China-focused growth capital fund manager China New Enterprise Investment (CNEI) has exited its 13 percent stake in China-based automotive and engine design service provider IAT Automobile Technology through block trades on China’s National Equities Exchange & Quotations for US$28 million. CNEI, which originally invested in IAT Automobile in 2009, reportedly generated a 2.8x gross return multiple of invested capital. Read More
Mediterra Capital, EBRD and Hermes GPE Acquire 70 Percent Stake in Arkel (CEE and CIS)
Turkey-focused private equity firm Mediterra Capital, global private equity specialist Hermes GPE and development finance institution European Bank for Reconstruction and Development have acquired a 70 percent stake in Turkey-based elevator technology company Arkel. Mediterra Capital invested through Mediterra Capital Partners II. Arkel manufactures electrical components for elevators and exports its products to countries across Europe and India. Financial details… Read More