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Armstrong Commits US$22.5 Million to Construct Mini-Hydro Plants in Indonesia (Asia)
Southeast Asia-focused clean energy investor Armstrong Asset Management has agreed to invest up to US$22.5 million in a 50MW portfolio of mini-hydropower plants in Indonesia. The facilities are being developed by PT Inti Duta Energi, the mini-hydropower development subsidiary of Jakarta-listed construction company PT Nusa Konstruksi Enjiniring. The transaction will be structured through Armstrong’s South East Asia Clean Energy Fund.… Read More
Riverwood-backed Globant Launches an IPO on the NYSE (Latin America)
Private equity-backed Globant, a software development and maintenance company whose principal operating subsidiary is based in Argentina, launched an initial public offering (IPO) on the New York Stock Exchange (NYSE), valuing the company at almost US$400 million. Globant priced the offering at US$10 a share, raising US$66 million, and began trading on the NYSE on 18 July 2014. Private equity… Read More
The Carlyle Group Exits Repco Home Finance (Asia)
Global private investment firm The Carlyle Group has fully exited its stake in India-listed housing finance company Repco Home Finance for INR4.7 billion (approximately US$78.4 million) via an open market transaction. Carlyle sold 11 million shares, or a 17.7 percent stake, at INR428 (approximately US$7.12) apiece. The sale represents a reported 9x return for Carlyle, which first invested in the… Read More
Baring Private Equity Asia, CDH Investments and Hony Capital Complete Giant Interactive Take-Private (Asia)
Private equity firms Baring Private Equity Asia, CDH Investments and Hony Capital have completed the privatization of China-based online game developer and operator Giant Interactive Group, valuing the company at approximately US$3 billion. The company ceased trading on the New York Stock Exchange on 18 July, and deregistration will be completed within 90 days. The transaction was financed through a… Read More
Warburg Pincus Receives CCI Approval to Acquire a 32.3 Percent Stake in Laurus Labs (Asia)
Global private equity firm Warburg Pincus has received approval from the Competition Commission of India (CCI) for its proposed acquisition of a 32.3 percent stake in India-based pharmaceutical company Laurus Labs. Warburg will subscribe to compulsorily convertible preference shares of Laurus besides acquiring paid-up equity shares from certain existing shareholders. Financial details of the transaction were not disclosed. Read More
Syntaxis Capital Invests EUR11.5 Million in Online Travel Agency eSKY (CEE and CIS)
Syntaxis Capital, a provider of mezzanine financing in Central Europe, has invested EUR11.5 million (approximately US$15.6 million) in Poland-based online travel agency eSKY. The company provides travel services to individuals, focusing on airline ticket sales for both traditional and low-cost carrier flights. eSKY intends to use the funds to support and accelerate its geographical expansion and pursue add-on acquisitions in… Read More
KKR and Standard Chartered Provide INR7.5 Billion Loan to Wadhwa Group (Asia)
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has provided part of an INR7.5 billion (approximately US$125 million) loan to India-based property developer Wadhwa Group. KKR contributed INR3.5 billion (approximately US$58 million) from its India Alternative Credit Opportunities Fund I, while banking services company Standard Chartered Bank provided the remaining INR4 billion (approximately US$67 million). The four-year loan will… Read More
Abris Capital Partners Sells Its Entire Stake in Alumetal (CEE and CIS)
Poland-based producer of aluminum cast alloys Alumetal debuted on the Warsaw Stock Exchange on 17 July after completing its initial public offering. As part of the listing, Central and Eastern Europe-focused private equity fund manager Abris Capital Partners sold its entire 55.5 percent stake in the company for PLN293 million (approximately US$95.7 million). Abris originally invested in the company more… Read More
Zoyi Invests in Two Taiwan-based Companies, Taiwan Farm Industry and Quaser Machine Tools (Asia)
China- and Taiwan-focused investment firm Zoyi Capital has invested in Taiwan-based processed meat producer Taiwan Farm Industry (TFI). The new capital will be used to build a factory, which will double TFI’s current capacity and strengthen its export business. Separately, Zoyi Capital has invested in Quaser Machine Tools, a machine tool manufacturer in Taiwan. The company intends to use the… Read More
Blue Water Energy Backs Unique Maritime Group (MENA)
Blue Water Energy, a global middle market energy private equity firm, has invested in United Arab Emirates-based subsea and offshore solutions provider Unique Maritime Group (UMG). The investment will allow UMG to accelerate its growth plans through additions to its rental fleet, as well as expand its product and service offerings and geographic distribution through further acquisitions. Financial details of… Read More
Leopard Haiti Fund Invests US$1.75 Million in Veerhouse Voda Haiti (Latin America)
Frontier markets investment firm Leopard Capital has provided US$1.75 million to Haiti-based Veerhouse Voda Haiti, a manufacturer of disaster-resilient buildings. The transaction, which was in the form of a debt instrument with participation features, was structured through Leopard Haiti Fund. Veerhouse Voda intends to use the funds to establish a local factory in Haiti to produce pre-engineered residential and commercial… Read More
Vision Knight Capital, Lightspeed China Partners and CDH Venture Invest US$80 Million in Fangdd.com (Asia)
China-based real estate portal Fangdd.com has raised US$80 million in a Series B financing round from venture capital firms Vision Knight Capital, Lightspeed China Partners and CDH Venture. CDH previously invested RMB50 million (approximately US$8 million) in the company in July 2013. The fresh capital will be used to improve users' online and offline purchasing experience. Read More