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Bain Capital, Goldman Sachs Sell Down China Investments (Asia)
Bain Capital and Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs, have reduced their holdings in two Chinese companies listed on the Hong Kong Stock Exchange. Bain Capital partially divested its holdings in real estate developer Sunac China Holdings for HKD540 million (approximately US$70 million), retaining 60 percent of its original stake, while Goldman Sachs Capital Partners… Read More
Mid Europa Sells Lux Med (CEE and CIS)
CEE-focused private equity firm Mid Europa Partners has agreed to sell Polish healthcare services provider Lux Med to British healthcare services group Bupa. The deal values the company at EUR400 million (approximately US$529.3 million) and the exit will reportedly generate returns of 2.5x to Lux Med’s investors, including Mid Europa. Financial details of the transaction were not disclosed. Read More
Equis Funds Group Closes Fund with US$647 Million (Asia)
Pan-Asian energy and infrastructure-focused fund manager Equis Funds Group has closed its first fund, Equis Asia Fund I, with US$647 million in commitments, exceeding the fund’s original target of US$500 million. The fund raised capital from endowments, insurance companies, pension and superannuation funds, and multilaterals from North America, Europe and Asia. In 2012, Equis invested in a solar generation platform… Read More
Pan African Housing Fund Holds First Close on US$41.5 Million (Sub-Saharan Africa)
The Pan African Housing Fund (PAHF), a fund managed by private equity firm Phatisa, has held a first close at US$41.5 million. The fund, which is targeting US$100 million, raised the capital from European and African development finance institutions, including a US$20 million commitment from CDC Group of the U.K. PAHF will invest in housing projects in Eastern and Southern… Read More
Globalturk Capital and SEAF to Support Turkish SMEs (CEE and CIS)
Turkish investment management and advisory services firm GlobalTurk Capital has established a partnership with early stage emerging markets private equity investor Small Enterprise Assistance Fund (SEAF) to explore investment opportunities in Turkish small- and medium-sized enterprises (SMEs). The two firms will reportedly jointly raise a private equity fund focused on Turkish companies that have growth strategies in and beyond Turkey.… Read More
The Abraaj Group Exits Investment in Hot Pot Through an IPO on the Thai Stock Exchange (Asia)
The Abraaj Group, a private equity investment firm focused on global growth markets, has announced its exit from Thai restaurant chain Hot Pot through an initial public offering on the Stock Exchange of Thailand. The Abraaj Group invested in the chain through its first Southeast Asia fund in 2006, and the investment allowed Hot Pot to introduce a new central… Read More
Focus Media Holding Enters into Definitive Merger Agreement for Going Private (Asia)
Chinese digital media operator Focus Media has agreed to a merger agreement with holding company Giovanna Parent and its subsidiary Giovanna Acquisition, in which Focus Media will be acquired for US$27.50 per American Depositary Share (equivalent to five ordinary shares). Following the merger, Giovanna Parent will be owned by Focus Media chairman Jason Nanchun Jiang and funds associated with a… Read More
TVM Capital MENA Announces New Investment in Cambridge Medical and Rehabilitation Center (MENA)
TVM Capital MENA, a U.A.E.-based healthcare and pharmaceutical sector-focused private equity firm, has invested in Cambridge Medical and Rehabilitation Center (CMRC), a local medical and rehabilitative treatment center, alongside Saudi investment firm The Olayan Group and Al Zarooni Emirates Investments. CMRC will use the funding to expand its long-term rehabilitative services for children and adults. Financial details of the transaction… Read More
OPIC Board Approves US$40 Million for Investment Fund to Support SMEs in Russia (CEE and CIS)
The Overseas Private Investment Corporation (OPIC), the development finance arm of the U.S. government, has approved a US$40 million commitment to CapMan Russia II, a Russia-focused private equity fund managed by Finland-based CapMan Group. The capital is intended to support small and medium-sized enterprises (SMEs) in Russia’s outer provinces. CapMan Russia II is seeking EUR175 million (approximately US$227 million) in… Read More
Denham Capital to Sell Interests in GNPower Mariveles Power Plant (Asia)
Global energy-focused private equity firm Denham Capital has agreed to sell its holdings in Filipino coal-fueled power plant GNPower Mariveles to Philippines-based conglomerate Ayala Corporation for US$155 million. Denham first invested in the 600 megawatt plant in June 2007 alongside power project developer Power Partners. The project has previously received financing from Chinese and Filipino banks. Read More
KKR Raises US$6 Billion Asia Fund (Asia)
Global investment firm KKR has raised US$6 billion for its second Asia-focused private equity fund. The fund will invest in growth and buyout transactions across Asia, including China, India and Southeast Asia. The latest fund follows KKR’s first pan-Asia private equity fund, which closed with US$4 billion in capital commitments in 2007. Read More
XSML Invests in Central African Republic Transport Company (Sub-Saharan Africa)
SME-focused private equity fund manager XSML has invested in Bamara Transports DJ, a road transport company in the Central African Republic, through its Central Africa SME Fund (CASF). The investment will enable Bamara to purchase two new trucks, two trailers and construct an 800 liter diesel fuel tank. Financial details of the transaction were not disclosed. Read More