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Darby Private Equity Exits Shayne International Holdings (Asia)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, has exited its investment in China-based Shayne International Holdings, a manufacturer and exporter of high-end upholstered furniture and leather apparel. Darby originally invested in the company in 2006 through Darby Asia Mezzanine Fund II. Financial details of the transaction were not disclosed. Read More
Ethos Acquires a Majority Stake in AutoZone (Sub-Saharan Africa)
South Africa-focused fund manager Ethos Private Equity has acquired a majority stake in South Africa-based automotive parts retailer AutoZone. The transaction was structured through Ethos Fund VI. As part of the transaction, Ethos acquired the stake held by RMB Corvest, the private equity arm of Rand Merchant Bank and Zico Capital. Ethos intends to expand the business geographically. Financial details… Read More
ChrysCapital Partially Exits Cyient (Asia)
ChrysCapital, an investment firm that focuses on growth sectors in India, has partially exited India-listed IT company Cyient, formerly known as Infotech Enterprises. ChrysCapital returned around INR800 million (approximately US$13 million) through open market transactions, resulting in a reported 3x return on its original May 2013 investment. Read More
Syntaxis Capital Backs Uğurlu Cam (CEE and CIS)
Syntaxis Capital, a provider of mezzanine financing in Central Europe, has provided a EUR13.5 million (approximately US$15.6 million) mezzanine loan to Turkey-based Uğurlu Cam, a specialized glass products manufacturer. Uğurlu intends to use the capital to support its organic growth and fund prospective acquisitions. Read More
BPM Capital Closes EUR70 Million Mezzanine Fund (CEE and CIS)
Investment manager BPM Capital has closed BPM Mezzanine Fund with EUR70 million (approximately US$82 million) in capital commitments. Investors include development finance institutions European Investment Fund and European Bank for Reconstruction and Development, seed investment company Ambient Sound Investments, pension fund LHV Pension Funds and asset manager Swedbank. The fund will provide mezzanine financing to small- and medium-sized enterprises in… Read More
Helios Investment Partners to Partially Exit Equity Group Holdings (Sub-Saharan Africa)
Pan-African private investment firm Helios Investment Partners has agreed to sell a 12.2 percent stake in Kenya-based banking group Equity Group Holdings to development finance institution Norfund and NorFinance, a joint venture investment company between Norfund and Norwegian private investors. The stake represents half of Helios’s interest in Equity Group, which is listed on both the Nairobi Securities Exchange and… Read More
Sovereign’s Capital Leads a US$2 Million Series A Round for Gift Card Indonesia (Asia)
Southeast Asia-focused growth investor Sovereign’s Capital has led a US$2 million Series A financing round for Indonesia-based gift card retailer Gift Card Indonesia (GCI). Other investors in the round included venture firms Lippo Digital Ventures, Sinar Mas Digital Ventures and RMK Ventures. GCI intends to use the capital to enter the business-to-consumer space and expand regionally. Read More
Resource Partners and Ardian Acquire Biscuit Manufacturer Chojecki (CEE and CIS)
Private equity investors Resource Partners and Ardian have acquired Poland-based cookie manufacturer Chojecki. The firms plan to merge Chojecki with Poland-based confectionery company Delicpol, which they acquired in 2012. The acquisition of Chojecki is part of their strategy to expand both the product range and client base for Delicpol. Financial details of the transaction were not disclosed. Read More
TA Associates Backs RateGain (Asia)
Global growth private equity firm TA Associates has invested a reported US$50 million in India-based software company RateGain. RateGain provides revenue management and distribution channel management software and real-time pricing data and analytics to help businesses streamline operations and sales, primarily serving the hotel industry. With the new capital, the company intends to explore new business opportunities among current and… Read More
Tiger Global Participates in a US$600 Million Series D Round for Kuaidi Dache (Asia)
Japan-based telecommunications company SoftBank Group has led a US$600 million Series D financing round for China-based Travice, the operator and developer of mobile taxi booking app Kuaidi Dache, with participation from existing shareholders investment firm Tiger Global and e-commerce company Alibaba Group. The company intends to use the capital to expand and improve its services in China. Read More
Yunfeng Capital Agrees to Invest RMB500 Million in Baiyunshan (Asia)
Private equity firm Yunfeng Capital has agreed to participate in an RMB10 billion (US$1.6 billion) financing round for China-based pharmaceutical manufacturer Guangzhou Baiyunshan Pharmaceutical Holdings. Baiyunshan’s controlling shareholder, state-owned Guangzhou Pharmaceutical Holdings Limited (GPHL), agreed to contribute RMB3.5 billion (approximately US$571 million), while Yunfeng will invest RMB500 million (approximately US$82 million). Other investors include China Life Insurance, state-owned Asset Development… Read More
Elbrus Capital Invests in Online Real Estate Classifieds Platform Cian (CEE and CIS)
Elbrus Capital, a private equity firm focused on Russia and CIS, has invested in Russia-based Cian Group, the operator of a real estate classified ads website. The deal included an acquisition of existing shares and a subscription of new shares. Cian Group plans to use the proceeds to finance regional expansion and to advance its product development. Financial details of… Read More