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.
Summit Partners Agrees to Sell Its Stake in Bulgaria-based Telerik to Progress Software (CEE and CIS)
Global private equity firm Summit Partners has agreed to sell its stake in Bulgaria-based provider of application development tools Telerik to NASDAQ-listed software company Progress Software. This is part of a larger transaction in which Progress Software has agreed to acquire Telerik for US$262.5 million. Summit Partners originally acquired a minority stake in Telerik in October 2008. Read More
IFC and IFC AMC Invest BRL200 Million in Vix Logística (Latin America)
Development finance institution International Finance Corporation (IFC) and IFC Asset Management Company (IFC AMC), a wholly owned subsidiary of IFC, have together invested BRL200 million (approximately US$81 million) in Brazil-based logistics services provider Vix Logística. IFC AMC contributed BRL50 million (approximately US$20 million), structured through its IFC African, Latin American and Caribbean Fund, with IFC investing the remaining BRL150 million… Read More
Wolfensohn Capital Partners, Innova Capital and EBRD to Exit Meritum Bank (CEE and CIS)
Emerging markets-focused private equity firm Wolfensohn Capital Partners (WCP), mid-market private equity firm Innova Capital and development finance institution European Bank for Reconstruction and Development (EBRD) have agreed to sell a 97.9 percent stake in Poland-based retail bank Meritum Bank to Poland-based retail and corporate banking institution Alior Bank for PLN353 million (approximately US$107 million). About half of the purchase… Read More
NBK Capital Closes NBK Capital Equity Partners Fund II with US$310 Million in Capital Commitments (MENA)
MENA-focused private equity and mezzanine fund manager NBK Capital has closed its latest private equity fund, NBK Capital Equity Partners Fund II, with US$310 million in capital commitments. The fund, which was oversubscribed, will acquire stakes in middle market companies across the MENA region and has already completed investments in two companies, United Arab Emirates-based casual dining restaurant chain Shakespeare… Read More
Warburg Pincus Invests in Kalyan Jewellers and CarTrade.com, Sells Shares in Kosmos Energy via Secondary Public Offering (Asia, Sub-Saharan Africa)
Global private equity firm Warburg Pincus has received regulatory approval to acquire a 24 percent stake in India-based jewelry retailer Kalyan Jewellers India for INR12 billion (approximately US$195.6 million) and has led a INR1.85 billion (approximately US$30 million) financing round for India-based auto classifieds platform CarTrade.com, with participation from existing investors venture capital firm Canaan Partners and alternative investment firm… Read More
Gulf Capital Closes Its Third Private Equity Fund at US$750 Million, Invests US$25 Million in Amak Group (MENA)
Middle East-focused alternative asset manager Gulf Capital has closed its third private equity fund, GC Equity Partners Fund III, with US$750 million in commitments. Investors in the fund, which was oversubscribed, include sovereign wealth funds, pension funds, endowments, funds of funds, insurance companies, family offices and other institutional investors. Fund III will make control-oriented investments primarily in Gulf Cooperation Council… Read More
Ouro Fino Raises US$172 Million in IPO, Receives Investment from General Atlantic (Latin America)
Brazil-based veterinary products maker Ouro Fino Saúde Animal Participações raised BRL418 million (approximately US$172 million) via an initial public offering (IPO) on 17 October, through which global growth equity investment firm General Atlantic acquired shares worth BRL200 million (approximately US$81 million) in the company, representing a 14.26 percent stake. The IPO, Brazil’s first of 2014, consisted of a primary offering… Read More
Bain Capital Buys an 80 Percent Stake in Lionbridge Financial Leasing (Asia)
Alternative investment firm Bain Capital has acquired an 80 percent stake in China-based financial leasing company Lionbridge Financial Leasing for a reported RMB1 billion (approximately US$164 million). The company provides leasing services, lease-back services and leasing asset management in four industry verticals: heavy duty vehicles, medical equipment, manufacturing equipment and agriculture equipment. Read More
Navis Capital Agrees to Sell Trio Engineered Products to Weir Group for US$220 Million (Asia)
Southeast Asia-focused private equity firm Navis Capital Partners has agreed to sell China-based Trio Engineered Products to London Stock Exchange-listed engineering company Weir Group for an enterprise value of US$220 million. Trio is a global provider of crushing, screening, washing and conveying equipment to the mining, recycling and mineral industries. The transaction is subject to certain closing conditions and is… Read More
CDH to Realize US$1.6 Billion from WH Group Through a Share Pledge (Asia)
China-focused private equity and venture capital firm CDH Investments will return capital to its limited partners by pledging shares in China-based pork producer WH Group worth an estimated HKD12.6 billion (approximately US$1.6 billion). CDH, which is still bound by a 12-month lock-up dating from WH Group's Hong Kong IPO in August, has agreed to mortgage 2.1 billion shares of China-based… Read More
AfricInvest Group Holds a First Close for AfricInvest Fund III (Sub-Saharan Africa)
AfricInvest Group, a private equity firm focused on North and Sub-Saharan Africa, has held a first close for AfricInvest Fund III (AF III) with more than EUR154 million (approximately US$195 million) in capital commitments. Investors in the fund include development finance institutions Netherlands Development Finance Company (FMO), CDC Group, International Finance Corporation, DEG, Finnfund, PROPARCO, Swedfund and SIFEM, as well… Read More
Abris Capital Partners to Acquire a Majority Stake in AAA Auto Group for EUR220 Million (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to acquire a 95 percent stake in Czech Republic-based used car dealer AAA Auto Group for EUR220 million (approximately US$279 million). The transaction, which has been cleared by the Czech Antimonopoly Office, is subject to the approval of anti-monopoly authorities in Slovakia, Russia and Ukraine. AAA Auto… Read More