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Baring Private Equity Asia Reaches a US$3.2 Billion First Close for Fund VI (Asia)
Asia-focused private equity firm Baring Private Equity Asia has reached a US$3.2 billion first close for its latest pan-Asia fund, Baring Private Equity Asia Fund VI. Investors in the fund, which reportedly has a hard cap of US$3.85 billion, include Pennsylvania Public School Employees' Retirement System, San Francisco City & County Employees' Retirement System and Arizona Public Safety Personnel Retirement… Read More
IDFC Alternatives’ Second India Infrastructure Fund Reaches a Final Close at US$900 Million (Asia)
IDFC Alternatives, the alternative asset management arm of India-focused infrastructure financing company IDFC, has reached the final close for India Infrastructure Fund II (IIF II) at its hard cap of INR55 billion (approximately US$900 million). The fund received commitments of US$90 million from IDFC and US$810 million from third-party limited partners, including global institutional investors from North America, Europe and… Read More
CDH Investments to Acquire Nanfu Battery from Procter & Gamble (Asia)
China-focused private equity and venture capital firm CDH Investments has agreed to acquire a 79 percent stake in China-based alkaline battery manufacturer Fujian Nanping Nanfu Battery from global consumer goods company Procter & Gamble in a transaction reportedly worth US$1 billion. Nanfu Battery sells its products under the Excell, Nanfu and Ecoenergy brands. The transaction is expected to be completed… Read More
LeapFrog Investments Sells Its Stake in Kenya-based Insurance Group Apollo to Swiss Re (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments has sold its minority stake in Kenya-based insurance group Apollo Investments to Swiss Re, a global wholesale provider of reinsurance. Apollo, through its wholly-owned insurance subsidiary APA, provides a broad array of insurance solutions across Kenya, Uganda and Tanzania. Financial details of the transaction were not disclosed. Read More
The Abraaj Group Invests in South Africa-based Food and Personal Care Manufacturer Liberty Star Consumer Holdings (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has acquired a majority stake in South Africa-based food and personal care manufacturer Liberty Star Consumer Holdings (Libstar) from existing shareholders including Metier, Old Mutual Private Equity, Development Partners International and Lereko. Libstar manufactures a broad range of products for the South African food, fast-casual dining, household and personal care markets. Financial details… Read More
Dragon Capital Partially Exits Vinamilk (Asia)
Vietnam-focused investment manager Dragon Capital has partially exited a 1.1 percent stake in Vietnam-listed dairy company Vinamilk for US$66 million. Dragon Capital originally invested in the company through two of its funds, Vietnam Enterprise Investments (VEIL) and Vietnam Growth Fund (VGF). The recent exit resulted in a reported IRR of 49 percent over ten years. The firm had previously exited… Read More
Vantage Capital II Provides ZAR80 Million for the Buyout of South Africa-based Dynamic Bedding (Sub-Saharan Africa)
Mezzanine-focused private investment fund manager Vantage Capital has provided approximately ZAR80 million (approximately US$7 million) in funding to facilitate a management buyout of South Africa-based bedding supplier Dynamic Bedding. The transaction was structured through Vantage Capital II. The company manufactures, distributes and markets bed bases and mattresses that are sold throughout its network of 120 retail stores. Read More
Emerging Capital Partners and Helios Investment Partners Participate in a US$130 Million Financing Round for Wananchi Group (Sub-Saharan Africa)
Wananchi Group, a Kenya-based provider of broadband and Pay TV services in Eastern Africa, has completed a US$130 million financing round co-led by existing and new shareholders including international telecommunications companies Altice, Liberty Global and ATMT and Africa-focused private equity firms Emerging Capital Partners and Helios Investment Partners. The investment will be used to support Wananchi’s expansion in East and… Read More
Matrix Partners India Invests in LimeTray (Asia)
Venture capital firm Matrix Partners India has invested in the first institutional round of funding for India-based Alchemy Web, a company that provides restaurants with a platform to run day-to-day operations under the brand LimeTray. Services include ordering, online presence management and customer relationship management. Financial details of the transaction were not disclosed. Read More
Phatisa’s African Agriculture Fund Backs Fertilizer Manufacturer Meridian Group (Sub-Saharan Africa)
Private equity fund manager Phatisa has invested in Meridian Group, a manufacturer and distributor of specialized fertilizer blends with operations in Mozambique, Malawi, Zimbabwe, Zambia and Mauritius. The transaction was structured through Phatisa’s African Agriculture Fund. Meridian Group intends to use the funding to support its expansion plans. Financial details of the transaction were not disclosed. Read More
Samena Capital Acquires a Stake in Flemingo International (MENA)
Samena Capital, an investment group focused on the Indian subcontinent, Asia and the Middle East and North Africa, has acquired a stake in United Arab Emirates-based duty free and travel retail operator Flemingo International. The company intends to use the capital to fund its expansion plan, which includes acquisitions and organic growth. Financial details of the transaction were not disclosed. Read More
Affinity Equity Partners Backs Poultry Producer Leong Hup International (Asia)
Asia-focused private equity firm Affinity Equity Partners has agreed to buy a minority stake in Malaysia-based poultry producer Leong Hup International in a deal that values the company at around US$600 million, excluding debt. Its operations span from producing feed and rearing day-old chicks to contract farming, slaughtering and processing meat. The investment will support the company’s expansion within Southeast Asia,… Read More