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ADV Opportunities Fund I Reaches a Final Close with US$545 Million in Capital Commitments (Asia)
Asia-focused private equity firm ADV Partners has reached a final close for its pan-Asia-focused fund, ADV Opportunities Fund I, with US$545 million in capital commitments. The fund primarily focuses on China and India, with Southeast Asia, developed Asia and Australia as opportunistic markets, and invests in mid-market companies across a range of industries. Fund of funds Asia Alternatives Management is… Read More
AfricInvest and Other Shareholders Sell a Majority Stake in Alios Finance to TLG Finance (Sub-Sahara
Pan-African private equity firm AfricInvest has led the sale of a 59.34 percent stake in Alios Finance–a France-based holding company with majority stakes in non-banking finance companies in Côte d’Ivoire, Senegal, Mali, Burkina Faso, Cameroon, Gabon, Zambia, Tanzania and Kenya–to TLG Finance, a holding company controlled by Tunisia-based finance leasing services company Tunisie Leasing. Development finance institutions FMO and Finnfund,… Read More
Bain Capital to Invest INR13 Billion in India-based L&T Finance Holdings (Asia)
Global alternative investment firm Bain Capital has agreed to invest INR13 billion (approximately US$198 million) for a 10.3 percent stake in India-based non-bank financial company L&T Finance Holdings. Bain will subscribe to equity shares and warrants totaling a 5.3 percent stake in the company for approximately INR7 billion (approximately US$107 million). Separately, Bain has invested INR6 billion (approximately US$91 million)… Read More
Accel Partners, IFC, Qualcomm Ventures & Ventureast Invest US$37.5 Million in Portea Medical (Asia)
Venture capital firm Accel Partners has led a US$37.5 million Series B round of funding for India-based home healthcare company Portea Medical. Development finance institution International Finance Corporation (IFC), Qualcomm’s investment arm Qualcomm Ventures and India-focused venture capital firm Ventureast also participated in the round. IFC invested US$7 million in the round; breakouts for the other firms were not disclosed.… Read More
Nexxus Capital Fully Exits Mexico-based Diagnostics Company Olab (Latin America)
Mexico-focused private equity fund manager Nexxus Capital has fully exited its stake in Mexico-based diagnostic healthcare company Diagnósticos de México, Diamex (Olab) to an undisclosed strategic buyer in the diagnostics sector. Olab offers diagnostic imaging and clinical analysis through a network of 40 branches. Financial details of the transaction, which was structured through Nexxus Capital Private Equity Fund III, were… Read More
Synergy Capital Reaches a Final Close for Synergy Private Equity Fund I (Sub-Saharan Africa)
Nigeria- and Ghana-focused private equity firm Synergy Capital has reached a final close on its fund, Synergy Private Equity Fund I (SPEF), with US$100 million in capital commitments. SPEF has a total of 12 investors, including four development finance institutions, seven commercial investors and one sovereign wealth fund. To date, SPEF has deployed more than 20 percent of its capital… Read More
The Carlyle Group, Actis, Sequoia Capital and GIC to Exit Keystone Lodging Holdings (Asia)
Global alternative asset manager The Carlyle Group, pan-emerging markets private equity firm Actis, global venture capital firm Sequoia Capital and the Government of Singapore’s sovereign wealth fund GIC have agreed to exit China-based Keystone Lodging Holdings, parent of hotel company 7 Days Group, in the company’s acquisition by China-based hotel company Shanghai Jin Jiang International Hotels. Jin Jiang will acquire… Read More
The Carlyle Group, Actis, Sequoia Capital and GIC to Exit Keystone Lodging Holdings (Asia)
Global alternative asset manager The Carlyle Group, pan-emerging markets private equity firm Actis, global venture capital firm Sequoia Capital and the Government of Singapore’s sovereign wealth fund GIC have agreed to exit China-based Keystone Lodging Holdings, parent of hotel company 7 Days Group, in the company’s acquisition by China-based hotel company Shanghai Jin Jiang International Hotels. Jin Jiang will acquire… Read More
Enterprise Investors to Acquire Poland-based SMT Software Services for EUR36.1 Million (CEE and CIS)
Central and Eastern Europe-focused private equity and venture capital firm Enterprise Investors has agreed to acquire Poland-based software company SMT Software Services for EUR36.1 million (approximately US$41 million), in a carve-out transaction from Poland-based holding company SMT. The transaction will be structured through Enterprise Investors’ Polish Enterprise Fund VII. Enterprise Investors will merge SMT Software Services with its existing portfolio… Read More
21 Concordia Reaches a Final Close for Its Debut Fund in Capital Commitments (CEE and CIS)
21 Concordia, the Poland-focused arm of private equity firm 21 Partners, has held a second and final close for its debut fund with EUR100 million (approximately US$113 million) in capital commitments. The fund focuses on investments in small and medium-sized companies with annual revenues between EUR10 million to EUR50 million (approximately US$11 million to US$56 million). The fund began investing… Read More
TPG/Satya to Invest MAD250 Million in Morocco-based Ecoles Yassamine (MENA)
TPG/Satya–the Africa-focused partnership between TPG’s middle market and growth equity platform TPG Growth and Africa-focused, independent investment firm Satya Capital –has agreed to invest a reported MAD250 million (approximately US$26 million) for a minority stake in Morocco-based private school network Ecoles Yassamine. The company intends to use the new capital to grow its network of schools and expand its educational… Read More
Warburg Pincus, Legend Capital and CAR to Invest US$550 Million in UCAR Group (Asia)
Global private equity firm Warburg Pincus, Legend Holdings' independent venture capital unit Legend Capital and China-based auto car rental company CAR are participating in a US$550 million Series B funding round for UCAR Group, a China-based mobile taxi booking service provider. Warburg Pincus, Legend Capital and CAR are existing shareholders of the company. CAR will invest US$50 million, while Warburg… Read More