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.
Vantage’s Fund II Provides ZAR90 Million in Mezzanine Debt Funding for the Acquisition of Reatile Timrite (Sub-Saharan Africa)
Vantage Risk Capital, a subsidiary of private equity fund manager Vantage Capital Group, has provided ZAR90 million (approximately US$8.7 million) in mezzanine debt funding for the 100 percent acquisition of Reatile Timrite (Timrite), a South Africa-based supplier of mining support products, by African investment management firm Thebe Investment Corporation and the Timrite management team. Funding for the acquisition also included… Read More
Armstrong Fund Raises US$130 Million at Third Closing (Asia)
Southeast Asia-focused clean energy investor Armstrong Asset Management has reached a US$130 million third close on its Armstrong South East Asia Clean Energy Fund. Investors in the third close include International Finance Corporation (IFC), IFC Asset Management Company’s IFC Catalyst Fund, the Netherlands Development Finance Company (FMO) and the Swiss Investment Fund for Emerging Markets (SIFEM). The fund held its… Read More
The Carlyle Group and The Townsend Group Invest US$200 Million in Partnership with Shanghai Yupei Group (Asia)
Global alternative asset manager The Carlyle Group and investment management services provider The Townsend Group have announced a partnership with China-based warehouse developer Shanghai Yupei Group to invest in 17 warehouses in China. The Carlyle Group, structured through Carlyle Asia Real Estate, and The Townsend Group will commit approximately US$200 million to acquire equity interests in five warehouses owned by… Read More
Creador’s Fund II Reaches a US$105 Million First Close (Asia)
Creador, a private equity firm focused on growth investments in Indonesia, Malaysia, Singapore and India, held a US$105 million first close on its second fund with capital commitments coming largely from existing LPs. Expecting to close in early 2014, Creador’s Fund II is targeting US$250 million and will focus on investments in Malaysia and Indonesia. The firm’s first fund, a… Read More
L Capital Asia Closes Second Fund at US$950 Million Hard Cap (Asia)
L Capital Asia, the Asian private equity business sponsored by global luxury goods distributor LVMH Group, LVMH’s chairman and chief executive officer Bernard Arnault’s holding company Groupe Arnault and Malaysian conglomerate YTL, has made a first and final close on its second fund at US$950 million, reaching the fund’s hard cap. L Capital Asia II, which was originally targeting US$800… Read More
Russia’s Eruditor Group Raises US$12 Million from Intel Capital, Frontier Ventures and Runa Capital (CEE and CIS)
Venture capital firms Runa Capital and Frontier Ventures and Intel Capital, the venture capital and private equity arm of Intel Corporation, have invested US$12 million in Russia-based Eruditor Group, provider of an online platform that connects customers with private professionals such as doctors, tutors or beauticians. This is the company’s third round of funding, after having previously received USD$600,000 from… Read More
Total and Beltone Private Equity Partner Up (MENA)
Beltone Private Equity (BPE), an affiliate of Egypt-based Beltone Financial Holding, recently acquired a stake in Total Egypt, the Egyptian subsidiary of French oil company Total. Total and BPE-managed funds Beltone Capital and BPE Energy will jointly acquire global energy provider Chevron’s Egypt-based retail and aviation businesses, including 66 service stations, two oil depots and aviation fuel operations. The transaction,… Read More
TPG to Invest US$108.6 Million in Xinyuan Real Estate (Asia)
Global private investment firm TPG has agreed to invest US$108.6 million in China-based residential real estate developer Xinyuan Real Estate for about a 20 percent stake. Through the transaction, TPG will purchase convertible notes worth US$75.8 million and common shares worth US$32.9 million. Xinyuan intends to use the capital injection for land acquisition and to support company development. Read More
TPG Takes Stake in Shriram City Union (Asia)
Global private investment firm TPG has acquired a 22.7 percent stake in India-based non-banking financial services company (NBFC) Shriram City Union Finance. The transaction, which was structured through TPG India Investment I, involved the merger of Shriram Enterprise Holdings with Shriram Retail Holdings, and the subsequent merger of the consolidated company with Shriram City Union. Through the deal, Shriram Group… Read More
ING to Sell ING Life Korea to MBK Partners (Asia)
Global financial institution ING has reached an agreement to sell ING Life Korea, its wholly owned life insurance business in South Korea, to North Asia-focused private equity firm MBK Partners for a total purchase price of about KRW1.8 trillion (approximately US$1.6 billion). Of the total purchase price, MBK will reportedly fund KRW800 billion (approximately US$712.2 million), with the rest borrowed… Read More
EBRD, RDIF and CapMan Russia Invest in Russian IT Outsourcing Provider MAYKOR (CEE and CIS)
Development finance institution European Bank for Reconstruction and Development (EBRD), Russian sovereign wealth fund the Russian Direct Investment Fund (RDIF) and private equity fund manager CapMan Russia will invest US$100 million in Russia-based IT outsourcing provider MAYKOR. RDIF will invest US$50 million, with EBRD and CapMan Russia, structured through CapMan Russia Fund II, contributing the remainder. MAYKOR intends to use… Read More
KV Asia Capital Announces Closing of KV Asia Capital Fund I at US$263 Million (Asia)
Singapore-based private equity firm KV Asia Capital has announced the final close of its first fund, KV Asia Capital Fund I, at US$263 million, exceeding its US$250 million target. The fund, which held its first close at US$100 million in October 2012, will focus on investment opportunities in Southeast Asia, primarily in Indonesia, Malaysia and Singapore. Investors in the fund… Read More