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KKR Agrees to Create a Global Oil and Gas Services Platform (Global)
Global investment firm KKR has agreed to pursue acquisitions and investment opportunities by establishing a platform to provide asset management services to the oil and gas industry globally. KKR’s investment in the platform will be made primarily by the KKR Asian Fund II. The platform aims to become an integrated services provider for engineering, maintenance, repair and overhaul services for… Read More
IDFC Alternatives Buys a 37 Percent Stake in Dewas Bhopal Corridor (Asia)
India-focused private equity firm IDFC Alternatives has agreed to purchase a 37 percent stake in India-based highway operator Dewas Bhopal Corridor from India-based infrastructure company Welspun Enterprises at an enterprise value of INR6.6 billion (approximately US$100 million). The transaction, which was structured through India Infrastructure Fund II, includes a contingent deferred consideration of INR340 million (approximately US$5.1 million) and a… Read More
Zephyr Peacock India, Omidyar Network, Aavishkaar and I3N Invest in Swarna Pragati Housing (Asia)
India-based housing microfinance lender Swarna Pragati Housing has raised a Series B financing round from India-focused private equity firm Zephyr Peacock India, philanthropic investment firm Omidyar Network, impact fund advisory firm Aavishkaar and angel network Intellecap Impact Investment Network (I3N). The round was worth a reported INR1 billion (approximately US$15 million), and together the investors acquired about a 15 percent… Read More
General Atlantic to Invest BRL600 Million in Brazil-based Pague Menos Pharmacies (Latin America)
Global growth equity firm General Atlantic has committed to invest BRL600 million (approximately US$150 million) in Brazil-based drugstore retail chain Empreendimentos Pague Menos (Pague Menos Pharmacies) for a 17 percent stake in the company. As part of the deal, Pague Menos will issue BRL440 million (approximately US$110 million) worth of new stock that will be subscribed by General Atlantic. General… Read More
The Abraaj Group Partially Exits Its Stake in UNIMED (MENA)
Global growth markets investor The Abraaj Group and French development finance institution Proparco have sold a combined 83 percent stake in Tunisia-based pharmaceutical company Unité de Fabrication de Médicaments (UNIMED). The firms sold the stake to a consortium of investors including asset managers SQM Frontier Management and Blakeney Asset Management, and the Tunisian-Kuwaiti Consortium of Development. Financial details of the… Read More
LIV Capital Acquires an Additional Stake in Ánima Estudios (Latin America)
Mexico-focused growth equity and venture capital investor LIV Capital has made a follow-on investment in Mexico-based digital animation company Ánima Estudios. The transaction was structured through Latin Idea México Venture Capital Fund III. LIV Capital originally invested in the company in July 2013. Financial details of the transaction were not disclosed. Read More
Apis Partners Agrees to Acquire a Minority Stake in MicroCred (Sub-Saharan Africa, Asia)
Apis Partners, a private equity asset manager focused on financial services in Africa and Asia, has agreed to acquire a minority stake in Africa- and Asia-focused financial services provider MicroCred Holdings. The company offers credit products, savings accounts and access to electronic payment services, and intends to accelerate the expansion of its products and customer base. Financial details of the… Read More
Baring Private Equity Asia Acquires HCP Packaging from TPG Capital for US$775 Million (Asia)
Asia-focused private equity firm Baring Private Equity Asia has acquired China-based packaging company HCP Packaging from global private investment firm TPG Capital for a reported US$775 million. HCP Packaging designs luxury lipstick and make-up containers for cosmetics manufactures such as L’Oreal, Revlon and Shiseido. TPG originally acquired HCP Packaging in 2012 through its fund TPG Asia V. Read More
Capital Group Private Markets Sells Stake to DeVry Education Group (Latin America)
Global private equity firm Capital Group Private Markets has sold its stake in Brazil-based educational institution Grupo Ibmec Educacional to global educational services provider DeVry Education Group. The exit was part of DeVry’s acquisition of a 96.4 percent stake in the company for a total of BRL699 million (approximately US$180 million). Capital Group originally invested in the company 2009 through… Read More
Kibo Capital Partners Partially Exits Madison Finance Company (Sub-Saharan Africa)
Kibo Capital Partners, a fund manager focused on Eastern and Southern Africa and the islands of the Indian Ocean, has partially exited Zambia-based microfinance institution Madison Finance Company (MFinance) through the redemption of its preference shares. Kibo Capital Partners originally acquired a 25 percent stake in MFinance through The Kibo Fund I in 2013. Financial details of the transaction were not… Read More
Berytech Fund Announces Investments in Instabeat and Other Lebanon-based Companies (MENA)
Lebanon-focused venture capital firmBerytech Fund has announced just under US$20 million in investments across 13 early-stage companies. The transactions were structured through Berytech Fund II. Berytech’s investments in Lebanon-based companies included US$4 million in swimming tracker Instabeat and US$2 million each in telecom software provider Mobinets, video-on-demand platform Cinemoz, Lifestyle website Ounousa and dating website Et3arraf. Read More
Salim Group to Raise US$1 Billion from Northstar Group, TPG Capital and Gateway Management (Asia)
Indonesia-based conglomerate Salim Group will raise a reported US$1 billion from a consortium including Southeast Asia-focused private equity fund manager Northstar Group and global private investment firm TPG Capital. The consortium, which also includes investment firm Gateway Management, will provide secured financing to Salim Group companies. The Salim Group will in turn pledge shares of its Hong Kong-listed entity First… Read More