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EIG Pays BRL1.3 Billion for Brazil’s LLX (Latin America)
Global energy investor EIG Global Energy Partners has acquired Brazil-based LLX, the logistics company of the energy and mining conglomerate EBX Group, for BRL1.3 billion (approximately US$557 million). The new capital will allow LLX to finish its Açu Superport, an industrial port venture designed to service Brazil’s commodity exports to Asia. The transaction was structured through EIG’s Energy Fund XV. Read More
Fidelity, F&H, Tiger Invest Jointly in Online Movie Service Platform (Asia)
Fidelity’s China-focused venture capital and private equity arm Fidelity Growth Partners Asia, China- and Southeast Asia-focused private equity group F&H Fund Management and investment manager Tiger Global Management have invested a reported US$10 million in Mtime, a China-based online and mobile movie platform. Mtime intends to use the new financing to build up its full-service movie platform. Read More
Sequoia Capital India Buys Minority Stake in Vini Cosmetics for INR1.1 Billion (Asia)
Venture capital firm Sequoia Capital India has bought a minority stake in India-based Vini Cosmetics for INR1.1 billion (approximately US$17.9 million). Vini Cosmetics produces deodorants and talcum powders, and intends to use the new capital to expand its portfolio by adding nutritional pharmaceuticals (“neutraceuticals”), skincare and hair care products. Read More
Korea’s IMM, Mirae Invest KRW250 Billion in POSCO Specialty Steel (Asia)
Korea-focused private equity firm IMM Private Equity and emerging markets investment manager Mirae Asset Private Equity have together agreed to acquire a 24 percent stake in Korea-based integrated steelworks company POSCO Specialty Steel for KRW250 billion (approximately US$223.2 million). According to a regulatory filing, the investors will subscribe to 8.6 million convertible preference shares with a conversion price of KRW29,000… Read More
Horizon Capital to Invest US$2.7 Million in Bostavan Wineries Group (CEE and CIS)
Horizon Capital, a private equity fund manager that focuses on investments in mid-cap companies in the CEE and CIS region, has invested US$2.7 million in Moldova-based winemaker Bostavan Wineries Group. The company, which produces one million bottles of wine a year, intends to use the capital injection to purchase modern grape-processing and wine-storage equipment. Horizon Capital previously made a US$15… Read More
The Abraaj Group to Invest in Turkish Student Accommodation Sector (CEE and CIS)
Global growth markets investor The Abraaj Group will acquire a significant stake in Republika Academic Apartments, consisting of two Turkey-based student accommodation assets with a total of 1,274 beds. The Abraaj Group invested alongside Republika’s developer BLG Capital, a Turkey-focused real estate private equity firm. Financial details of the transaction were not disclosed. Read More
Advent International Sells Deutek to Axxess Capital (CEE and CIS)
Global private equity firm Advent International has sold Romania-based paint manufacturer Deutek to CEE-focused investment manager Axxess Capital. The transaction was structured through Axxess Capital’s Emerging Europe Accession Fund. Advent International originally acquired the company in 2005. With Axxess Capital, Deutek intends to pursue new opportunities in the Romanian market. Financial details of the transaction were not disclosed. Read More
Tiantu Capital Makes the First Investment Through Its Sixth RMB Fund (Asia)
China-focused private equity and venture capital firm Tiantu Capital has invested RMB80 million (approximately US$13 million) in Ganqishi, a Chinese cuisine food chain. This was the first transaction structured through Tiantu Capital’s sixth RMB-denominated fund. Ganqishi, which operates 150 outlets in Hangzhou and offers mainly Chinese dumplings, intends to use the capital injection for business expansion. Read More
CDC and The Abraaj Group Invest in Rainbow Hospitals (Asia)
The United Kingdom’s development finance institution CDC and global growth markets investor The Abraaj Group will invest US$17.5 million in Rainbow Hospitals, an India-based 450-bed pediatric and maternity healthcare company. Rainbow Hospitals intends to use the new financing to expand beyond the state of Andhra Pradesh to cities such as Bangalore, Chennai and Pune. Read More
China Venture Capital Invests in Soil Remediation Firm (Asia)
China-focused venture capital firm China Venture Capital has agreed to invest RMB15m (approximately US$2.4 million) in China-based Jiangsu Suntime Environmental Remediation, a company specializing in contaminated soil remediation. The company has worked on soil remediation projects in Jiangsu, Gaohyou, Yangzhou and Changzhou. Read More
Cordiant Inks First Deal with Fourth Fund (Asia)
Cordiant Capital, a fund manager specializing in emerging markets credit and private equity investments, has provided a US$55 million loan to Sri Lanka-based microfinance institution Lanka Orix Micro Credit (LOMC). The transaction, which was made in partnership with the Dutch development bank FMO, was structured through Cordiant Emerging Loan Fund IV and was the first deal from this fund. LOMC… Read More
Northstar Moves into Real Estate Through Debut Deal (Asia)
Southeast Asia-focused private equity firm The Northstar Group has partnered with Singapore-based brokerage firm ERA Real Estate to lead a management buyout of ERA Real Estate from Hersing Corporation, a Singapore-based brand manager and service provider. Local media reports valued the deal at SGD$130 million (approximately US$102.5 million), which is understood to include some leverage. Northstar has created Realty Partners… Read More