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Blue River Capital Exits Aurangabad Electricals with 2x Returns (Asia)
India-focused private equity firm Blue River Capital has exited its 22.1 percent stake in India-based auto ancillary company Aurangabad Electricals for INR780 million (approximately US$12.3 million). Blue River Capital sold the stake back to Aurangabad Electricals, making a reported 2x return on the firm’s original March 2006 investment. In 2011, Aurangabad Electricals filed a draft red herring prospectus with India’s… Read More
Mantiq Investimentos’ Fundo Caixa Ambiental and BNDESPar Invest in Energia Renováveis do Brasil (Latin America)
BNDES Participações (BNDESPar), the investment arm of Brazilian development bank Banco Nacional de Desenvolvimento Economico e Social (BNDES), and private equity fund manager Mantiq Investimentos have approved a share subscription for BRL93.3 (approximately US$41.5 million) and BRL120 (approximately US$53.5 million), respectively, in Brazil-based designer, builder and operator of cogeneration power plants Energia Renováveis do Brasil (ERB). Mantiq’s transaction will be… Read More
Ancora Closes Second Fund on US$128 Million (Asia)
Indonesia-focused private equity firm Ancora Capital has held a final close on its second fund with US$128 million in capital commitments. The vehicle is currently 40 percent deployed, having made three investments since its launch in early 2011. The fund, which was originally targeting US$300 million, reached a first close of US$70 million in April 2011. Khazanah Nasional, the Malaysian… Read More
Sequoia Capital Leads US$15m Series C Investment in App Annie (Asia)
Venture capital firm Sequoia Capital has led a US$15 million Series C financing round in China-based provider of app store analytics App Annie. Venture capital firms IDG Capital Partners, Greycroft Partners, e.ventures and Infinity Venture Partners also participated. The company intends to use the capital injection to expand the App Annie platform, grow sales and marketing teams in San Francisco… Read More
Phatisa Holds Final Close of African Agriculture Fund at US$243 Million (Sub-Saharan Africa)
Private equity fund manager Phatisa has concluded fundraising for its African Agriculture Fund (AAF), with US$243 million in total capital commitments. The fund will target agriculture and food production in Africa. Investors in the fund include development finance institutions, government agencies, commercial banks, fund-of-funds and private investors. Phatisa has already made nine investments via AAF, and hopes to disperse 50… Read More
IDFC Alternatives Closes Second Infrastructure Fund at US$644 Million (Asia)
IDFC Alternatives, the alternative asset management vertical at IDFC, has reached the first close of its second infrastructure fund India Infrastructure II (IIF2) with US$644 million in capital commitments. There will also be a co-investment pool alongside the fund that includes IDFC dry powder of over US$900 million. IIF2, which has a target of US$1 billion, will focus on core… Read More
Lunar Capital Exits China Mobile Payment Business to Ping An (Asia)
China-focused private equity firm Lunar Capital and co-investors, venture capital firms RRE Ventures and Icon, have sold their stake in China-based third-party online payment provider SmartPay to an affiliate of insurance and financial services holding company Ping An Insurance Company of China. Ping An intends to grow the business to expand its presence in the third-party payments space. Financial details… Read More
TPG Growth Invests INR1.5 Billion in Sutures India (Asia)
TPG Growth, the middle market and growth equity platform of global private investment firm TPG, has acquired a 25 percent stake in India-based surgical sutures manufacturer Sutures India for INR1.5 billion (approximately US$23.5 million). The transaction involved a mix of primary and secondary share purchases, with around INR750 million (approximately US$11.8 million) of the total investment used to purchase shares… Read More
Investcorp’s Gulf Opportunity Fund Acquires a 25 Percent Stake in Saudi Arabia’s Leejam Sports Company (MENA)
Investcorp, a global provider and manager of alternative investment products, has acquired a 25 percent stake in Saudi Arabia-based Leejam Sports Company, owner of the sports and fitness brand Fitness Time. The transaction was structured through Investcorp’s Gulf Opportunity Fund. Leejam has over 1,400 employees and currently operates over 62 locations in Saudi Arabia. It plans to use the new… Read More
Fanisi Capital Invests up to US$3 Million in Kenyan Pharmacy Chain Haltons (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has acquired a significant stake in Kenya-based retail pharmacy chain Haltons for up to US$3 million. Haltons operates four retail outlets within Nairobi and intends to use the capital injection to expand its portfolio over the next two years to more than 100 outlets in Kenyan towns including Mombasa, Nakuru,… Read More
AION Capital Partners to Invest INR3 Billion in Jyoti Structures (Asia)
AION Capital Partners, a joint venture between alternative asset managers Apollo Global Management and ICICI Venture, is investing INR3 billion (approximately US$47.2 million) in India-based power company Jyoti Structures. AION, which has already committed INR2 billion (approximately US$31.4 million), will acquire a significant minority stake through long-dated structured securities and will deploy the remaining capital in tranches linked to certain… Read More
ADM Capital Invests in Agricultural Investment Platform Irrico (CEE and CIS)
ADM Capital, an investment firm focused primarily on recovery, special situations and event-driven opportunities in emerging markets, has invested US$30 million in Russia-based agricultural company Irrico. Irrico was formed by global investment bank VTB Capital in 2012 to acquire large scale operating farms in Southern Russia and install modern machinery and irrigation technology. The company intends to use the new… Read More