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IDFC Alternatives Acquires a Stake in ONGC Tripura Power Company (Asia)
IDFC Alternatives, the alternative asset management arm of infrastructure financing company IDFC, has purchased a 23.5 percent stake in ONGC Tripura Power Company (OTPC), an India-based operator of a gas power plant, for INR4.3 billion (approximately US$68 million). The investment was structured through IDFC’s India Infrastructure Fund II. Existing shareholders in OTPC include ONGC, an India-based state owned oil and… Read More
DPI Raises US$725 Million for Its Second Fund (Sub-Saharan Africa)
Private equity firm Development Partners International (DPI) has closed its second pan-Africa-focused fund, ADP II, with approximately US$725 million in capital commitments. Investors in the fund include corporate and public pension funds, endowments and foundations, funds of funds, family offices and development finance institutions from the United States, Europe, the Middle East and Africa. The fund seeks to invest in… Read More
CVC Capital Partners to Buy Convertible Bonds from MAP Aktif Adiperkasa (Asia)
CVC Capital Partners has agreed to invest IDR1.5 trillion (approximately US$114 million) in convertible, unsecured, zero-coupon bonds issued by MAP Aktif Adiperkasa (MAA), a sports and lifestyle retail and manufacturing subsidiary of Mitra Adiperkasa, an Indonesia-based apparel retailer. The agreement provides CVC with the option to convert its investment into a 30 percent equity stake in MAA in the case… Read More
Carlyle Exits Its Stake in Jiangsu Rainbow Heavy Industries (Asia)
Global alternative asset manager The Carlyle Group has sold its 9.6 percent stake in Jiangsu Rainbow Heavy Industries (RHI), a China-based port and marine-related machinery manufacturer. The investment was held by China Crane Investment Holdings, an investment vehicle jointly owned by The Carlyle Group and Finland-based cargo-handling machinery company Cargotech. Carlyle’s investment in RHI was structured through Carlyle Asia Growth… Read More
Aspada Investment Company Invests in InI Farms (Asia)
Aspada Investment Advisors, an investment firm focused on small- and medium-sized enterprises in India, has invested INR200 million (approximately US$3.2 million) in InI Farms, an India-based pomegranate and banana processing and export company. The investment was structured through Aspada Investment Company, a holding company managed by Aspada Investment Advisors. InI Farms will use the fresh funds to build scale in… Read More
Darby Private Equity and Pera Capital Partners Acquire Specialty Foods Distributor (CEE and CIS)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, and Turkey-focused private equity firm Pera Capital Partners have agreed to acquire Koza Gida, a Turkey-based specialty foods distributor. Darby’s share of the investment was structured through Darby Converging Europe Fund III. Koza Gida will use the new investment to expand into new product categories, enlarge and update its… Read More
The Abraaj Group Raises US$990 Million for a Sub-Saharan Africa Fund (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has reached a final close for its Sub-Saharan Africa-focused Abraaj Africa Fund III with US$990 million in capital commitments, surpassing its original target of US$800 million. The fund intends to invest in mid-sized companies, diversified by sector, country and deal type. Investors in the fund include International Finance Corporation (IFC), which made a… Read More
CMS Opus Private Equity Acquires a 30 Percent Stake in Damini (Asia)
CMS Opus Private Equity (COPE), a Malaysia-focused asset management firm, has acquired a 30 percent stake in Malaysia-based water treatment and management equipment company Damini. The company plans to use the fresh funding to acquire new businesses and strengthen its operations in the oil and gas sector. The transaction was structured through Cope Opportunities 2. Financial details of the transaction… Read More
KKR, LeapFrog and Indium to Invest in Magma Fincorp (Asia)
Global investment firm KKR, emerging markets financial services investor LeapFrog Investments and Indium V, an investment vehicle advised by India Value Fund Advisors, have received board approval from Magma Fincorp, an India-based non-banking finance company, to invest INR5 billion (approximately US$80 million) in the company. KKR, Indium V and LeapFrog will invest INR800 million (approximately US$13 million), INR2.2 billion (approximately… Read More
CDH Investments Participates in a Funding Round for Lufax (Asia)
Shanghai Lujiazui International Financial Asset Exchange (Lufax), a China-based peer-to-peer lending platform, has raised RMB3 billion (approximately US$489 million) in a funding round led by BlackPine Private Equity Partners, a China-focused special situations and growth capital fund manager. China-focused private equity and venture capital firm CDH Investments and the private equity arm of China International Capital Corporation (CICC) also participated… Read More
BlackRock and First Reserve to Acquire Stake in Pemex Gas Pipeline Projects (Latin America)
Global asset manager BlackRock and energy-focused private equity firm First Reserve have agreed to acquire a 45 percent stake in two gas pipelines in Mexico—Los Ramones Phase II North and Los Ramones Phase II South—from Mexican state-owned energy company Petróleos Mexicanos (Pemex) for approximately US$900 million. Both projects will benefit from a 25-year Transport Services Agreement with Pemex Gas y… Read More
Actis Exits Aluminum Components Manufacturer Teknicast (Asia)
Pan-emerging markets private equity firm Actis has fully exited its stake in Teknicast, a Malaysia-based manufacturer of aluminum die-cast components. The stake was sold to an undisclosed Asia-focused investment management firm. Financial details of the transaction were not disclosed. Read More