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The Abraaj Group and TPG Invest in Kudu (MENA)
Kudu, a Saudi Arabia-based restaurant group, has raised sharia-compliant debt funding from global growth markets investor The Abraaj Group and global private investment firm TPG. The investment was structured through a vehicle jointly owned by Abraaj and TPG. Financial details of the transaction were not disclosed. Read More
IDG Capital Partners and SIG Asia Investment Participate in a Funding Round for 9fbank.com (Asia)
9fbank.com, a China-based online finance platform, has raised $110 million in a round of funding. Investors in the round included China-focused venture capital firm IDG Capital Partners; SIG Asia Investment, the venture capital and private equity arm of the Susquehanna International Group; China-based financial services holding company Ping An Insurance; Tsinghua University's joint ventures Incorp Capital and Union Fortune; fund… Read More
Denham Capital Sells Its Stake in Global Solar Development Company (Global)
Global energy-focused private equity firm Denham Capital has sold its stake in Fotowatio Renewable Ventures (FRV), a global solar development company with a portfolio spanning Australia, the Middle East, Africa and Latin America, to Abdul Latif Jameel Energy and Environmental Services, the energy and environmental services arm of Saudi Arabia- and Dubai-based conglomerate Abdul Latif Jameel. Qualitas Equity Partners, a… Read More
CDH-backed WoWo Completes a US$40 Million IPO (Asia)
WoWo, a China-based entertainment-focused e-commerce platform backed by China-focused private equity and venture capital firm CDH Investments and private investment firm Tianyou Investment, has raised US$40 million in an initial public offering (IPO). The company listed on the NASDAQ Stock Market on 8 April, selling four million shares at US$10 apiece. Neither CDH nor Tianyou disposed of any shares in… Read More
Vantage Capital and FMO Exit Plastic Polymer Manufacturer Safripol (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital and Dutch development bank FMO have exited their ZAR220 million (approximately US$31 million) investment in Safripol, a South Africa-based plastic polymer manufacturer. In 2007, Vantage Capital and FMO funded Thebe Investment Corporation, a South Africa-based black economic empowerment investment company, to acquire a stake in Safripol. Post-transaction, Thebe retains its stake in the company. Read More
Templeton Asset Management-led Consortium Acquires a Minority Stake (CEE and CIS)
A consortium led by Templeton Asset Management, a financial services subsidiary of Franklin Templeton Investments, has acquired a minority stake in Turkey-based apparel retailer Defacto Perakende Ticaret. The investment was structured through Templeton Strategic Emerging Markets Fund IV, which is managed by Templeton Emerging Markets Group of Templeton Asset Management. Defacto intends to use the investment to grow within Turkey… Read More
Aqua Capital Acquires a Majority Stake in Grand Cru (Latin America)
Aqua Capital, a private equity fund manager focused on mid-sized agribusiness, food and logistics companies in South America, has acquired a majority stake in Grand Cru, a Brazil-based wine retailer. Grand Cru intends to use the new funding to increase its number of stores within Brazil and expand its e-commerce operations. Financial details of the transaction were not disclosed. Read More
Actis Partially Exits Edita Food Industries in an IPO (MENA)
Pan-emerging markets private equity firm Actis has sold a 15 percent stake in Edita Food Industries, an Egypt-based snack food company, through an oversubscribed initial public offering (IPO) on the Egyptian Exchange and the London Stock Exchange. Actis sold 54.4 million shares in the offering at a price of EGP18.5 (approximately US$2.43) per share, for total proceeds of EGP1.0 billion… Read More
Legend, SIG Asia, VMS, Sequoia and Lightspeed Participate in a Series C Funding Round (Asia)
Legend Capital, the venture capital arm of China-based investment group Legend Holdings, and SIG Asia Investments, the venture capital and private equity arm of the Susquehanna International Group, have led a Series C investment round in Ppdai.com, a China-based peer-to-peer lending company. Venture capital firms Sequoia Capital and Lightspeed China Partners and private equity firm VMS Investment Group also participated… Read More
Advent International Exits Partner in Pet Food to Pamplona Capital Management (CEE and CIS)
Global private equity firm Advent International has sold Partner in Pet Food (PPF), a Hungary-based pet food company, to global private equity firm Pamplona Capital Management for EUR315 million (approximately US$339 million). Pamplona’s investment was structured through its Pamplona Capital Partners IV fund. Advent initially acquired PPF through a carve-out from Provimi Group, a global animal nutrition company, in 2011,… Read More
Hahn & Company Partially Exits Korea-based Cowell in a Hong Kong IPO (Asia)
South Korea-focused private equity firm Hahn & Company has partially exited its investment in Cowell e Holdings, a South Korea-based mobile phone camera module manufacturer, in an initial public offering (IPO) on the Hong Kong Stock Exchange. The sale returned US$68.4 million to Hahn, giving Cowell a market capitalization of HKD3.5 billion (approximately US$451 million) based on its offer price… Read More
IVFA Indium V Fund Reaches a First Close with US$500 Million (Asia)
India Value Fund Advisors (IVFA), a firm focused on investing in mid-sized businesses, has reached a first close for its Indium V fund with US$500 million in capital commitments. The fund, which is sector-agnostic and has a hard cap of US$700 million, also recently announced its first investment, an INR2.2 billion (approximately US$35 million) commitment to India-based non-bank financing company… Read More