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.
PAG to Acquire Toy Robot Maker Young Toys from Headland Capital Partners (Asia)
PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has agreed to wholly acquire South Korea-based toy robot manufacturer Young Toys for KRW220 billion (approximately US$203 million). PAG will acquire a 96.5 percent stake held by Asia-focused private equity fund manager Headland Capital Partners, which first invested in Young Toys in 2012, and a 3.5… Read More
Verod Capital Acquires Union Trustees via Management Buyout (Sub-Saharan Africa)
Nigeria-focused private equity firm Verod Capital has acquired trust and asset management services company Union Trustees, a fully-owned subsidiary of Union Bank of Nigeria, in partnership with company management. Financial details of the transaction, which was structured through Verod Capital’s Fund II, were not disclosed. Read More
The Carlyle Group Exits Claris Lifesciences (Asia)
Global alternative asset management firm The Carlyle Group has exited its investment in India-based pharmaceuticals company Claris Lifesciences via an open market sale on the Bombay Stock Exchange. Carlyle sold approximately 6.2 million shares, representing an 11.3 percent stake in Claris, for INR1.7 billion (approximately US$27 million). Carlyle invested US$20 million in Claris in 2006 through Carlyle Asia Growth Partners III. Read More
KKR and Anchor Equity Partners to Acquire a Controlling Stake in Ticket Monster (Asia)
Global investment firm KKR and South Korea-focused private equity fund manager Anchor Equity Partners have agreed to acquire a 46 percent stake in South Korea-based mobile e-commerce company Ticket Monster from United States-based deal marketplace company Groupon for approximately US$360 million. Canada Pension Plan Investment Board, Pavilion Capital, a subsidiary of Singaporean sovereign wealth fund Temasek Holdings, and other institutional… Read More
Vital Capital Invests in Renewable Energy Company Focal Energy Holdings (Asia)
Impact investing private equity firm Vital Capital has completed a follow-on investment in Focal Energy Holdings, a renewable energy platform operating in India. The new investment, which will be made via a convertible bond issued by Focal, brings Vital Capital’s total commitment to the company to US$16 million. Focal builds, owns and operates renewable energy generation assets that utilize biomass,… Read More
MEVP Reaches a First Close for Middle East Venture Fund II and Approves Four Investments (MENA)
Middle East-focused venture capital firm Middle East Venture Partners (MEVP) has held a first close for Middle East Venture Fund II (MEVF II) with US$15 million in capital commitments. MEVF II, which has a target of US$30 million and aims to close in the second quarter of 2015, will make Series A investments of US$500,000 to US$3 million in early… Read More
KKR Fully Exits Its Stake in Bharti Infratel (Asia)
Global investment firm KKR has fully exited its 2.5 percent stake in India-based telecommunications infrastructure company Bharti Infratel through a series of block sales on the Bombay Stock Exchange in March and April. KKR initially invested US$250 million in the company in 2008. Financial details of the transaction were not disclosed. Read More
The Carlyle Group Exits Its Stake in Haier Electronics Group (Asia)
Global alternative asset manager The Carlyle Group has sold its remaining 5.24 percent stake in China-based home appliance manufacturer Haier Electronics Group for HKD3.3 billion (approximately US$424.4 million). Carlyle sold 140 million shares at HKD23.50 (approximately US$3.03) per share on the Hong Kong Stock Exchange. The firm initially invested in Haier in 2011 in a transaction structured through Carlyle Asia… Read More
Hony Capital Fully Exits CSPC Pharmaceutical Group (Asia)
China-focused private equity firm Hony Capital has fully exited its investment in China-based generic drugs manufacturer CSPC Pharmaceutical Group for HKD9.8 billion (approximately US$1.3 billion). Through three affiliates, Hony sold 1.37 billion shares, representing a 23.2 percent stake, in CSPC to third parties at HKD7.15 (approximately US$0.92) apiece. The transaction was structured through Hony Capital Fund III. Read More
Bamboo Finance Reaches a First Close for Bamboo Financial Inclusion Fund II (Global)
Bamboo Finance, a private equity firm specializing in investing in business models that benefit low-income communities in emerging markets, has reached a first close for Bamboo Financial Inclusion Fund II with US$31 million in capital commitments. Investors in the first close included financial services company TIAA-CREF and asset management company AXA Investment Managers. The fund will make equity investments in… Read More
Wolfensohn Capital Partners Partially Exits DCB Bank (Asia)
Emerging markets-focused private equity firm Wolfensohn Capital Partners (WCP) has partially exited its stake in India-based lender DCB Bank in open market transactions on the National Stock Exchange. On 15 April, WCP sold 2.32 million shares—about a 0.8 percent stake in the company—for INR121.73 (approximately US$1.94) apiece in a transaction totaling INR282 million (approximately US$4.5 million). In the first quarter… Read More
Vital Capital Exits Two Infrastructure Projects in Angola (Sub-Saharan Africa)
Vital Capital, an impact investing firm primarily focused on Sub-Saharan Africa, has exited two Angola-based infrastructure projects: Sumbe-Gabela-Waku Kungo, an electricity transmission line project, and Water For All, a potable water distribution project. Cumulatively, the two exits yielded a reported IRR of over 24 percent. Financial details of the transactions, which were structured through Vital Capital Fund, were not disclosed. Read More