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PE Trio Ups China Investment to US$300 Million (Asia)
A consortium consisting of Olympus Capital, FountainVest Partners and Morgan Stanley Infrastructure Partners has invested US$150 million in Chinese hydropower plant operator Zhaoheng Hydropower. The firms matched their previous US$150 million investment in the company in December 2010. Zhaoheng, which operates hydroelectric plants across seven Chinese provinces, plans to use the funding to expand both within and outside of China. Read More
Darby Divests Its Holding in Grupo Financiero Improsa in Costa Rica (Latin America)
Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, has announced the exit of its holding in Grupo Financiero Improsa, a Costa Rican financial institution. Darby first invested in the company in 2000 through the Darby ProBanco I Fund, a specialized financial sector fund focused on Latin America. The divestment marks the final exit for the fund. Financial… Read More
The Carlyle Group to Acquire 25 Percent of Grupo Orguel (Latin America)
The Carlyle Group has announced the acquisition of a 25 percent stake in Brazilian equipment rental company Grupo Orguel. Grupo Orguel has 75 branch locations in 11 Brazilian states. The investment was made via Carlyle’s US$776 million South America Buyout Fund and Fundo Brasil de Internacionalização de Empresas, a BRL360 million fund advised by Carlyle and Banco do Brasil. Financial… Read More
Beltone’s Midcap Fund Buys 25 Percent of Bio Pharma (MENA)
Beltone Private Equity, the private equity subsidiary of Egyptian investment firm Beltone Financial, has invested EGP10 million (approximately US$1.6 million) for a 25 percent stake in Bio Pharma Egypt, a manufacturer of private label and branded nutritional supplements. Bio Pharma Egypt plans to use the funding to raise its production capacity and to launch new products. Read More
Foursan Group Announces Investment in Jordan Dubai Islamic Bank (MENA)
Middle Eastern private equity firm Foursan Group has invested an undisclosed amount in Jordan Dubai Islamic Bank (JDIB), a Jordanian Islamic bank listed on the Amman Stock Exchange. Founded in 2010, JDIB currently has 12 branches in three Jordanian cities. The investment was made through Foursan Capital Partners I, a US$100 million fund focused on the Levant and North Africa. Read More
Apollo Global Management Exits from NCGA Holdings (Asia)
Global alternative investment firm Apollo Global Management has sold its stake in China’s NCGA Holdings, an operator of luxury car dealerships listed on the Hong Kong Stock Exchange, to Chinese automobile dealer Baoxin Auto Group. The transaction was valued at approximately US$305.4 million, with the share price set at HKD3.97 (approximately US$0.51). Read More
Beirut Fund Banks on Egypt-based Energy Firm (MENA)
U.K.-based private equity investment and advisory firm Capital Trust Group has invested US$20 million in Sakson Petroleum Services Holding, an Egyptian provider of oil and natural gas drilling services. The investment was made through EuroMena II, a US$90 million MENA-focused private equity fund. Separately, Capital Trust Group has reportedly announced the launch of EuroMena III, its fourth private equity fund… Read More
IFC Commits US$20 Million to Renewable Fund Domiciled in Mauritius (Asia)
International Finance Corporation (IFC), the private sector development arm of the World Bank, has agreed to commit US$20 million to Nereus India Alternative Energy Fund, a private equity fund managed by India-based alternative asset manager Nereus Capital. The fund, which is targeting US$250 million in total commitments, plans to make investments in the range of US$15 million to US$35 million.… Read More
Actis Backs Chinese Kitchen Equipment Designer (Asia)
Emerging markets-focused private equity firm Actis has invested in Vesta, a Chinese manufacturer of commercial kitchen equipment. Vesta produces fryers, griddles, warmers, ovens, combination steamers and dishwashers for restaurants, hotels and canteens, and owns the Justa brand. Financial details of transaction were not reported. Read More
SFS Group to Acquire Unisteel, a Singapore-Based Precision Engineering Solutions Provider (Asia)
Kohlberg Kravis Roberts & Co. (KKR), in coordination with other shareholders, has agreed to sell Singapore’s Unisteel Technology International to Swiss manufacturer of diversified industrial components SFS Group. Unisteel manufactures precision components for data storage and consumer electronics. Financial details of the transaction were not disclosed. Unisteel was listed on the Singapore Stock Exchange in 2000 but was taken private… Read More
Founder Buys Back Sequoia Stake in CCD (Asia)
Venture capital firm Sequoia Capital has reportedly sold its stake in India’s Amalgamated Bean Coffee Trading Co. Ltd. (ABCTL) to V. G. Siddhartha, the company’s Founder and Chairman. ABCTL owns and operates Indian coffee shop chain Café Coffee Day (CCD). Sequoia Capital originally invested US$20 million in ABCTL in 2006 and reportedly generated a return multiple greater than 2x and… Read More
JAFCO Invests US$5 Million into VC-backed Bubble Motion (Asia)
Japanese venture capital firm JAFCO Asia has invested US$5 million in Singapore-based social messaging service Bubble Motion. Bubble Motion’s flagship service, Bubbly, allows mobile users to update social media and send SMS messages using their voices. Bubble Motion reportedly plans to use the capital to expand its operations into other Asian countries such as India, Japan, Indonesia and the Philippines.… Read More