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.
Advent International to Acquire a 30 Percent Stake in LifeMiles (Latin America)
Global private equity firm Advent International has agreed to acquire a 30 percent stake in LifeMiles, a Latin America-focused operator of an airline loyalty program, for US$343.7 million. Advent will purchase the stake from Avianca Holdings, a company that integrates several Latin American airlines under the Avianca brand. Post-transaction, Avianca Holdings will hold a 70 percent stake in LifeMiles. Read More
Shoreline Capital Closes Its Overflow Fund with US$195 Million in Capital Commitments (Asia)
Shoreline Capital Management, a fund manager focused on distressed debt and special situation investments in China, has reached a US$195 million final close for an overflow fund associated with Shoreline China Value III. While Shoreline China Value III—which held a US$500 million final close in June 2015—focuses on non-performing loans and lending to healthier companies and distressed real estate developers,… Read More
IK Investment Partners Agrees to Sell Its Remaining Stake in Agros Nova (CEE and CIS)
Pan-European private equity firm IK Investment Partners has agreed to sell the non-carbonated beverages division of Poland-based food products business Agros Nova to Polmlek Group, a Poland-based dairy company. The sale follows IK Investment’s announced divestment of Agros Nova's fruit and vegetable preserves and ready-made food operations to Poland-based juice producer Maspex Wadowice Group in December 2014. Once completed, the latest… Read More
Shoreline and Oaktree Buy US$168 Million in Non-performing Loans (Asia)
Credit-focused private equity firms Shoreline Capital Management and Oaktree Capital Group have reportedly teamed up to purchase a portfolio of non-performing loans in China for a total of US$168 million. Shoreline contributed 51 percent of the deal value, with Oaktree contributing the remaining 49 percent. The portfolio consists of loans issued to Chinese companies and typically secured by the companies' hard assets.… Read More
Value4Capital to Exit Home.pl for EUR135 Million (CEE and CIS)
Central Europe-focused private equity firm Value4Capital (V4C) has agreed to sell its stake in Poland-based Home.pl to United Internet’s subsidiary 1 & 1 Internet for a reported EUR135 million (approximately US$149 million). This translates into a reported 3.4x cash return and an IRR of over 40 percent for V4C on its investment. Home.pl is a provider of cloud-based services in… Read More
AfricInvest Fund III Reaches a Second Close (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has reached a second close for AfricInvest Fund III with commitments from private investors and development finance institutions, including a EUR20 million (approximately US$22 million) commitment from the African Development Bank. The fund, which held a first close with EUR154 million (approximately US$199 million) in capital commitments in September 2014, is targeting EUR200 million (approximately… Read More
Private Equity-backed Manpasand Beverages Completes an IPO (Asia)
India-based fruit drinks manufacturer Manpasand Beverages has listed on the Bombay Stock Exchange and the National Stock Exchange. The company floated its initial public offering (IPO) at a price range of INR290-INR320 per share (approximately US$4.56-US$5.00), raising a total of INR4 billion (approximately US$63 million). The IPO was oversubscribed by 40 percent. Manpasand Beverages is backed by venture capital firm… Read More
Fanisi Capital Invests US$6 Million in Kijenge Animal Products (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has invested US$6 million for about a 40 percent stake in Tanzania-based agro-processing company Kijenge Animal Products. The company, which is involved in maize flour milling, animal feed milling and poultry production, intends to use the capital to diversify its product offering. Read More
NDE Capital Holds a US$107 Million First Close for NDE Capital II (Asia)
ASEAN-focused private equity firm NDE Capital has held a first close on its second fund, NDE Capital II, with US$107 million in capital commitments. The fund, which has a US$350 million hard cap, will allocate 60 percent of its capital to investments in China and 40 percent to investments in Indonesia. Investors in the first close included funds of funds… Read More
Capital Group and Ping An Ventures Participate in a US$2 Billion Round for Didi Kuaidi (Asia)
China-based Didi Kuaidi, a taxi-hailing app operator, has raised a US$2 billion financing round from a group of investors that included global private equity firm Capital Group Private Markets and the venture capital arm of China-based Ping An Insurance, Ping An Ventures. Capital Group invested around US$350 million in the round. The latest funding round values the company at a… Read More
Xiaozhu.com Raises US$60 Million from Joy Capital, Morningside, CITIC Capital and Magic Stone (Asia)
China-based Xiaozhu.com, a short-term home-rental platform, has raised a US$60 million Series C financing round led by Joy Capital, a venture capital spinout from Legend Capital. Private investment group Morningside Technologies, China-focused private equity firm CITIC Capital and China-focused fund of funds and secondary investor Magic Stone Alternative Investments also participated in the round. Xiaozhu.com was launched in 2012 and… Read More
Metier Exits South Africa-based Property Redeveloper and Manager South Point (Sub-Saharan Africa)
Metier, a private equity and alternative asset management firm, has sold its stake in South Point, a South Africa-based company that redevelops distressed urban properties to provide accommodation to students and unemployed graduates. The Unemployment Insurance Fund, managed by South Africa’s Public Investment Corporation, acquired the company in June. Metier had originally invested in the company through the Lereko Metier… Read More