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The Kibo Fund II Holds a First Close with US$50 Million in Commitments (Sub-Saharan Africa)
Private equity fund manager Kibo Capital Partners has reached a first close on its second fund, The Kibo Fund II, with US$50 million in capital commitments. Investors included development finance institutions, pension funds, family offices and other institutional and commercial investors. The Kibo Fund II will make growth capital investments of US$4 million to US$8 million in East Africa, Southern… Read More
Bain Capital Partially Exits Hero MotoCorp for Around US$250 Million (Asia)
Alternative investment firm Bain Capital has sold one-third of its stake in India-listed motorcycle and scooter manufacturer Hero MotoCorp for about US$250 million. The shares were sold on 13 June 2014 to investors in the United States, Europe and Asia at an average price of INR2,627 (approximately US$44) per share, a three percent discount to Hero MotoCorp’s closing price on… Read More
Hopu and Trustbridge Lead a US$200 Million Series D Financing Round for Mogujie (Asia)
China-based online shopping platform and social network Mogujie has raised US$200 million in a Series D financing round led by private equity firms Hopu Investment Management and Trustbridge Partners. Existing investors venture capital firms Qiming Venture Partners and IDG Capital Partners also participated in the round, which valued the company at around US$1 billion. Mogujie intends to use the investment… Read More
Genesis Capital Invests in Slovakia-based 3070 Group, Acquires Czech Republic-based Swell (CEE and CIS)
Czech Republic- and Slovakia-focused private equity fund manager Genesis Capital has acquired a 51 percent stake in 3070 Group, a Slovakia-based retail design consultancy company. The investment will allow 3070 to enter the financial services, fashion and automobile markets, with plans to expand the business in Europe in the next five years. Separately, Genesis Capital has acquired a 100 percent… Read More
EuroMena Fund III Reaches a US$100 Million First Close (MENA)
Private equity, real estate and corporate finance advisory firm The Capital Trust Group has reached a first close on its fourth Middle East and North Africa-focused private equity fund, EuroMena III, with US$100 million in capital commitments. Investors included development finance institutions European Investment Bank, DEG and International Finance Corporation, as well as French electricity business Electricité de France. The… Read More
Abris Capital Partners to Acquire Urgent Curier, Plans to Merge Urgent Curier with Cargus (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to buy Romania-based courier service provider Urgent Curier. Abris plans to merge the company with its existing portfolio company Cargus International, a Romania-based domestic parcel shipping company, which it had acquired in October 2012. Post-merger, the new company will have a fleet of more than 1,800 courier… Read More
Abris Capital Partners to Acquire Urgent Curier, Plans to Merge Urgent Curier with Cargus (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to buy Romania-based courier service provider Urgent Curier. Abris plans to merge the company with its existing portfolio company Cargus International, a Romania-based domestic parcel shipping company, which it had acquired in October 2012. Post-merger, the new company will have a fleet of more than 1,800 courier… Read More
Resource Partners Increases Its Investment in World Class Romania (CEE and CIS)
Central and Eastern Europe-focused private equity investor Resource Partners has increased its investment in Romania-based fitness chain World Class Romania by completing the buyout of minority shareholders. Resource Partners previously acquired a 71 percent stake in the company in March 2014. World Class Romania plans to continue the expansion of its network organically and through acquisitions. Financial details of the… Read More
The Carlyle Group, Signet and OrbiMed Partially Exit Claris Lifesciences (Asia)
Private equity firms The Carlyle Group, Signet Healthcare and OrbiMed have partially exited their investment in India-based pharmaceutical company Claris Lifesciences by participating in the company’s buyback offer. Claris Lifesciences offered a buyback issue worth INR2.3 billion (approximately US$39 million) in March 2014. The buyback was offered at a price of INR250 (approximately US$4.23) per share. The Carlyle Group sold… Read More
InVenture Partners, Intel Capital and FinSight Ventures Invest US$3 Million in Gill Business Systems (CEE and CIS)
Venture capital firms InVenture Partners, Intel Capital and FinSight Ventures have invested US$3 million in a Series A financing round for Ukraine-based bus ticket platform developer Gill Business Systems, which operates the Gillbus brand. Gill Business Systems consists of four ventures: a software development company in Ukraine and distribution and sales companies in Russia, Ukraine and Thailand. The company intends… Read More
GP Investments to Exit Sascar Participações (Latin America)
Latin America-focused alternative investment company GP Investments has agreed to sell its stake in Brazil-based fleet management and cargo tracking services provider Sascar Participações to Compagnie Financiere du Groupe Michelin, a company that holds Groupe Michelin’s industrial and commercial companies outside of France, as part of Groupe Michelin’s acquisition of 100 percent of Sascar. GP Investments’ exit will be structured… Read More
Yunfeng Capital and CITIC Private Equity Agree to Invest RMB2 Billion in a Subsidiary of Inner Mongolia Yili Industrial Group (Asia)
Private equity firms Yunfeng Capital and CITIC Private Equity have agreed to invest at least RMB2 billion (approximately US$325 million) in an unlisted farming subsidiary of Shanghai-listed dairy producer Inner Mongolia Yili Industrial Group. Post-transaction, the two private equity investors will together hold a 60 percent stake in Yili Group’s dedicated farming unit, Inner Mongolia Yili Livestock Development. The investment… Read More