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IFC and AMC Support the Expansion of China Tian Lun Gas with a US$150 Million Investment (Asia)
International Finance Corporation (IFC), a member of the World Bank Group, and IFC Asset Management Company (AMC), a wholly-owned subsidiary of IFC, have each invested US$75 million in Hong Kong-listed gas supplier China Tian Lun Gas Holdings, for a total investment of US$150 million. AMC’s transaction was structured through its IFC Global Infrastructure Fund. Tian Lun Gas intends to use… Read More
KKR Completes US$400 Million Investment in Fujian Sunner Development (Asia)
Global investment firm KKR has completed a US$400 million investment in China-listed chicken meat producer Fujian Sunner Development, acquiring an 18 percent stake in the company. Since the investment was first announced in August 2014, Sunner reports that it has been selected as one of the five local‐market direct suppliers—and the only Chinese supplier—of chicken meat to McDonald’s. Through the… Read More
Tribeca Fully Exits Termocandelaria Power (Latin America)
Colombia-focused private equity fund manager Tribeca has fully exited its stake in Termocandelaria Power (TPL), a Colombia-based thermal energy generation company. Tribeca initially invested in TPL in 2009 and 2010, and held a 60.8 percent stake in the company. The firm’s exit resulted in a reported cash multiple of 2.2x and an annual IRR of 17%. Financial details of the… Read More
Yunfeng Capital and Dalian Wanda Lead an RMB800 Million Financing Round for Letv Sports (Asia)
China-based online video company Leshi Internet Information & Technology’s sports affiliate, Letv Sports Culture Develop, has raised RMB800 million (approximately US$131 million) from China-focused private equity firm Yunfeng Capital, China-based conglomerate Dalian Wanda Group and other undisclosed investors. The round valued Letv Sports at RMB2.8 billion (approximately US$458 million). Letv Sports plans to use the capital injection to purchase more… Read More
Linzor Capital Partners Closes Its Third Fund with US$621 Million in Commitments (Latin America)
Latin America-focused asset management firm Linzor Capital Partners has closed its third fund, Linzor Capital Partners III (LCP III), with US$621 million in capital commitments, reaching the fund’s hard cap. Investors included pension plans, asset managers, insurance companies, sovereign wealth funds, endowments, foundations and family offices. Approximately 40 percent of the capital was raised from United States-based investors, 33 percent… Read More
Omidyar Network and Mitsui & Co. Lead a Series B Financing Round for Geekie (Latin America)
Philanthropic investment firm Omidyar Network and Japan-based conglomerate Mitsui & Co. have led a US$7 million Series B financing round for Geekie, a Brazil-based education technology company. Brazil-focused investment company Gera Venture and Virtuose—an entity owned by the Brazilian Gradin family, also participated in the round. Both are existing investors in the company. Geekie intends to use the new financing… Read More
Abris Capital Partners to Back Tissue Manufacturer Pehart (CEE and CIS)
CEE and CIS-focused mid-market private equity firm Abris Capital Partners has agreed to invest in the Pehart group of companies, a producer of tissue paper in Romania and Southeastern Europe. As part of the transaction, development finance institution European Bank for Reconstruction and Development will entirely exit its stake in Pehart Tec, one of the Pehart group companies. Following Abris’s… Read More
UFO Moviez’s IPO Provides Partial Exits for 3i Group and Providence Equity Partners (Asia)
India-based digital cinema distribution company UFO Moviez has completed an initial public offering (IPO) on the Bombay Stock Exchange and the National Stock Exchange, providing partial exits for international investment firm 3i Group and private equity firm Providence Equity Partners. UFO Moviez raised INR6 billion (approximately US$94 million) in the IPO, with shares priced at INR625 (approximately US$9.77) apiece. Post-IPO,… Read More
Nexus Venture Partners Raises US$434 Million Across Two India-focused Venture Capital Funds (Asia)
Venture capital firm Nexus Venture Partners has closed Nexus India Capital IV, the firm’s fourth early-stage venture fund, with US$304 million in capital commitments. In addition, the firm has raised US$130 million for a top-up fund focusing on later-stage investments in existing portfolio companies. Commitments for the two vehicles reportedly came from the same group of limited partners. Read More
CNEI Invests US$15 Million in Guanghua Education Group (Asia)
China-focused growth capital fund manager China New Enterprise Investment (CNEI) has invested US$15 million in Guanghua Education Group (GH Education), a China-based private school operator. The transaction was structured through CNEI Fund II. GH Education intends to use the capital to set up new schools and campuses, as well as to further expand its international-oriented education services. Read More
Templeton Asset Management Leads a EUR81.7 Million Investment in EasyPack (CEE and CIS)
Templeton Asset Management, a financial services subsidiary of Franklin Templeton Investments, has led a EUR81.7 million (approximately US$92 million) investment in Poland-based EasyPack, an operator of parcel locker networks, with the option to participate in a future follow-on investment. The transaction was structured though Templeton’s Strategic Emerging Markets Fund IV. Other participants in the round included Poland-based insurance company PZU… Read More
African Infrastructure Investment Managers Backs Joule Africa (Sub-Saharan Africa)
Infrastructure investment firm African Infrastructure Investment Managers (AIIM) and Africa-focused power developer Joule Africa have entered into an agreed framework that provides AIIM the opportunity to become a major equity investor in power projects being developed by Joule Africa. Joule Africa’s current development interests include Bumbuna II, a hydro-electric project in Sierra Leone, and Kpep, a hydro-electric project in Cameroon.… Read More