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CGN Capital Partners Infrastructure Fund III Reaches Second Close (Asia)
CGN Private Equity Fund Management Company has reached a second close for CGN Capital Partners Infrastructure Fund III with CNY3.2 billion (approximately US$478 million) in commitments. Investors in the fund include Industrial and Commercial Bank of China, Agricultural Bank of China, Postal Savings Bank of China and People’s Insurance Company of China. The fund is sponsored by China-based nuclear power… Read More
India Value Fund Advisors Acquires Majority Stake in SeedWorks International for US$40 Million(Asia)
Private equity firm India Value Fund Advisors (IVFA) has acquired a majority stake in India-based seed manufacturer SeedWorks International for US$40 million. The transaction was completed via a secondary share purchase from an undisclosed seller. IVFA plans to work with SeedWorks to improve its sales and marketing efforts. Read More
The Abraaj Group Sells Stake in Koba to Capital Group Private Markets (Latin America)
Global growth markets investor The Abraaj Group has sold its stake in Colombia-based supermarket operator Koba International Group to emerging markets private equity group Capital Group Private Markets. Abraaj originally invested in the company in 2010 through its fund ALAF I; Capital Group invested through CIPEF VI. Koba operates a network of nearly 500 stores under the D1 brand. Financial… Read More
Sinovation Ventures Raises $674 Million in Commitments Across Two Funds (Asia)
China-focused venture capital firm Sinovation Ventures has closed two funds with total capital commitments of approximately US$674 million. The two funds include one U.S. dollar-denominated fund, which raised US$300 million, and an RMB-denominated fund which raised the equivalent of approximately US$374 million. The U.S. dollar fund was anchored by Taiwan-based Foxconn Technology Group. Sinovation plans to invest the funds in… Read More
Actis Agrees to Exit South Africa-based Shoe Retailer Tekkie Town (Sub-Saharan Africa)
Growth markets investor Actis has reportedly agreed to exit its 42.5 percent stake in South Africa-based shoe retailer Tekkie Town in a sale to South Africa-based holding company Steinhoff International. Actis originally acquired the stake in November 2014 for US$65 million. The investment is subject to approval by South Africa’s Competition Commission and is expected to close by the end… Read More
Health Care Services App HaloDoc Raises US$13 Million from Clermont, NSI Ventures and Others (Asia)
Indonesia-based health care services mobile application HaloDoc has closed a US$13 million Series A funding round led by Singapore-based private investment firm Clermont Group, with participation from venture capital firm NSI Ventures, ride-hailing platform Go-Jek and e-commerce company Blibli. The company offers mobile consultation with doctors and a service that connects users to pharmacies for personal delivery of medications. Read More
Darby Private Equity Invests in Turkey-based Quartz Surfaces Producer BELENCO (CEE and CIS)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, has acquired a minority stake in Turkey-based quartz surfaces producer Peker Yüzey Tasarımları (BELENCO). Darby plans to work with BELENCO to support its growth in the domestic and global quartz surfaces markets. Financial details of the transaction were not disclosed. Read More
LAP Closes Central American Mezzanine Infrastructure Fund II (Latin America)
Private equity and mezzanine fund manager Latin American Partners (LAP) has reached a final close for its Central American Mezzanine Infrastructure Fund II with US$188.2 million in capital commitments. Investors in the fund include development finance institutions Inter-American Development Bank, acting through the Inter-American Investment Corporation, International Finance Corporation, Finnish Fund for Industrial Cooperation, FMO, Austrian development bank OeEB, the… Read More
Best Logistics Completes US$760 Million Round Led by CITIC Private Equity and Everbright (Asia)
China-based logistics and supply chain management company Best Logistics Technologies has completed a US$760 million funding round led by China-focused private equity firm CITIC Private Equity and Everbright Financial Holding Asset Management. Other new investors in the round included: Cainiao Network Technology, China Development Bank International, Bank of China International-controlled CITP Advisors, Fosun International, SBCVC, Huarong International Financial and Liyue… Read More
IFC, IFC AMC and EMA Power Invest US$175.5m in Summit Group’s Power Projects in Bangladesh (Asia)
Development finance institution International Finance Corporation (IFC), IFC Asset Management Company (IFC AMC) and EMA Power, a joint venture between Daelim Energy and Islamic Development Bank Infrastructure Fund II, have invested US$175.5 million to finance Bangladesh-based power producer Summit Group’s future power projects in the country. IFC AMC will invest through its IFC Emerging Asia Fund. Summit Group plans to… Read More
Genesis Capital to Sell AZ KLIMA to ČEZ ESCO (CEE and CIS)
Czech Republic- and Slovakia-focused private equity firm Genesis Capital has agreed to sell its majority stake in Czech Republic-based technical facility management and air conditioning company AZ KLIMA to Czech Republic-based energy services company ČEZ ESCO. Genesis originally acquired a 68.5 percent stake in the company through GPEF II in 2011. The transaction is subject to the signing of contractual… Read More
Equator Capital Partners Exits Satin Creditcare (Asia)
Impact fund manager Equator Capital Partners has fully exited its stake in India-based, Bombay Stock Exchange-listed microlender Satin Creditcare, returning INR2.09 billion (approximately US$31 million) through a series of open-market transactions. Equator originally invested in the company in 2010 and 2013 through ShoreCap II. The exit reportedly generated a 6x cash multiple and an internal rate of return of 45… Read More