GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
KKR Agrees to Sell Shares in China Greenland Rundong Auto (Asia)
Global investment firm KKR has agreed to sell 168 million convertible preference shares in China-based car dealership China Greenland Rundong Auto to the company’s founder for approximately US$76 million. Upon completion of the transaction, KKR’s holding in the company will fall from 27 percent to seven percent. KKR originally invested US$100 million in the company over four funding rounds between 2010… Read More
Tribeca Asset Management to Sell Its Stake in Petrolatina Energy (Latin America)
Colombian private equity fund manager Tribeca Asset Management has agreed to sell its 50.2 percent stake in Colombia-based oil and gas exploration, development and production company Petrolatina Energy (PELE) to Canada-based exploration and production company Gran Tierra Energy for US$264 million. Tribeca originally invested in PELE in 2008 in a transaction structured through Tribeca Fund I. The exit, which is… Read More
Small Enterprise Assistance Funds Backs India-based Synergy Kitchens & Hospitality (Asia)
SME-focused investment firm Small Enterprise Assistance Funds (SEAF) has invested in India-based Synergy Kitchens & Hospitality, a catering company and provider of on-site kitchens in hospitals, marketed under the brand name Rozzana. Financial details of the transaction, which was structured through SEAF India Agribusiness International Fund, were not disclosed. Read More
Warburg Pincus, Kedaara Capital, ChrysCapital, Motilal Oswal Private Equity & IFC Sell Stakes (Asia)
Private equity firms Warburg Pincus, Kedaara Capital and ChrysCapital and development finance institution International Finance Corporation (IFC) have partially exited their stakes in India-based lender Au Financiers alongside private equity firm Motilal Oswal Private Equity, which fully exited its stake. The deal was worth INR7.51 billion (approximately US$110 million). The transaction will help Au Financiers reduce foreign shareholding from 65… Read More
The Carlyle Group Invests in Peru-based Tourist Train Operator Inca Rail (Latin America)
Global alternative asset manager The Carlyle Group has invested in Inca Rail, a train operator in Peru that transports tourists to Machu Picchu. The investment was structured through Carlyle Peru Fund and Carlyle South America Buyout Fund. Carlyle will partner with Inca Rail’s current shareholders and management to improve the company’s customer service. Financial details of the transaction were not… Read More
Helios Investment Partners Completes an Investment in OVH Energy (Sub-Saharan Africa)
Africa-focused private investment firm Helios Investment Partners and Netherlands-based energy trader The Vitol Group have acquired a 49 percent stake in OVH Energy, the downstream business of Nigeria-based oil and gas company Oando. The transaction was structured as a US$210 million recapitalization through HV Investments II, a joint venture owned by Helios and Vitol. OVH’s assets comprise more than 350… Read More
Navis Capital Partners Invests in Tawada Healthcare and Hanoi French Hospital (Asia)
Asia-focused private equity firm Navis Capital Partners has agreed to invest in Indonesia-based medical device distributor Tawada Healthcare. Navis intends to help Tawada attract top talent, upgrade its systems and processes, and explore mergers and acquisitions. Separately, Navis has invested in Vietnam-based primary healthcare operator Hanoi French Hospital. Navis’s support will help the company move forward with plans to renovate… Read More
Omidyar Network Leads a Series B Round in Scripbox (Asia)
Philanthropic investment firm Omidyar Network has led a Series B funding round for India-based investment services provider Scripbox. Existing investors in the company, including venture capital firm Accel Partners and angel investors, also participated in the round. Scripbox will use the new capital to expand its user base. Financial details of the transaction were not disclosed. Read More
Aqua Capital Acquires a Controlling Stake in Rural Brasil (Latin America)
Aqua Capital, a private equity firm focused on growth investments in mid-market companies in Latin America, has acquired a controlling stake in Brazil-based agricultural inputs distribution company Rural Brasil for a reported BRL86 million (approximately US$26 million). Aqua Capital now holds a 60 percent stake in the company. Rural Brasil plans to use the new capital to expand its products… Read More
IFC and Armstrong Asset Management Agree to Invest in Gia Lai Electricity (Asia)
Development finance institution International Finance Corporation (IFC) and clean energy-focused private equity firm Armstrong Asset Management have acquired 16 and 20 percent stakes, respectively, in Vietnam-based renewable energy company Gia Lai Electricity (GEC). Armstrong structured its commitment through Armstrong South East Asia Clean Energy Fund. With IFC and Armstrong’s support, GEC will expand its hydropower portfolio and invest in other… Read More
Lightspeed China Partners Reaches a Final Close and an Interim Close (Asia)
China-focused venture capital firm Lightspeed China Partners (LCP) has reached a final close for Lightspeed China Partners III with US$260 million in capital commitments. Separately, the firm has reached an interim close of an undisclosed amount for its RMB fund. With USD and RMB dual-currency venture funds, LCP plans to continue investing in China-based early-stage companies in internet, mobile and… Read More
The EuroMena Funds Invests in Lebanon-based Lender Credit Libanais (MENA)
Middle East- and Africa-focused fund manager The EuroMena Funds has invested US$20 million in Lebanon-based bank Credit Libanais. The transaction was structured through EuroMena III. EuroMena acquired the shares as part of the sale of 9.41 million shares in Credit Libanais by investment bank EFG-Hermes. Credit Libanais provides a range of banking products and services in Lebanon and West Africa. Read More