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.
Prodapt Solutions Secures USD75 Million from Affirma Capital
India-based IT services provider Prodapt Solutions has raised USD75 million from Affirma Capital, an EM-focused private equity firm operated by the former management team of Standard Chartered Private Equity. Affirma has taken a significant minority stake in the company, which offers end-to-end IT services to telecom and digital services providers across the world. Prodapt represents Affirma’s fourth investment in India… Read More
Adenia Partners Receives Approval to Acquire Quick Mart
Africa-focused private equity fund manager Adenia Partners has been approved to acquire Kenya-based supermarket chain Quick Mart by the Competition Authority of Kenya. Investing through Adenia Fund IV, the firm previously acquired another Kenyan supermarket chain, Tumaini Self Service, in December 2018. Adenia plans to merge the operations of Quick Mart and Tumaini Self Service under the Quick Mart brand.… Read More
Ardian and CMB Prime Agree to Acquire 33 Percent Stake in Two Chilean Toll Roads from Brookfield
Global private investment firm Ardian and Chile-focused infrastructure investor CMB Prime have agreed to acquire a 33 percent stake in two Chilean toll road assets from global alternative asset manager Brookfield Asset Management. Ardian and CMB will acquire minority stakes in urban express highway Vespucio Norte Express and tunnel expressway Túnel San Cristóbal, both of which are located in the… Read More
KKR Acquires Majority Stake in EuroKids International
Global alternative investment manager KKR has acquired a majority stake in the India-based education services provider EuroKids International. Investing through its Asian Fund III, KKR purchased the stake from a consortium of existing investors led by India-focused mid-market private equity fund manager Gaja Capital. EuroKids operates schools and educational programs for children from preschool through 12th grade in 350 cities… Read More
Warburg Pincus, General Atlantic, and Emirates NBD Raise USD706 Million in Sale of Partial Stake in Network International
Global private equity fund managers Warburg Pincus and General Atlantic, along with Dubai-based financial services group Emirates NBD Bank, have sold 100 million shares in UAE-based payment services provider Network International at GBP5.8 (approximately USD7) per share, returning GBP580 million (approximately USD706 million). Warburg Pincus and General Atlantic originally invested in Network International in 2015, jointly acquiring a 49 percent… Read More
EBRD and Zubr Capital Agree to Invest in Mila
The European Bank for Reconstruction and Development (EBRD) and Belarus-focused private equity fund manager Zubr Capital have agreed to invest in Mila, a Belarus-based retailer of personal and home care products owned by ParfumBytKhim Group. EBRD and Zubr will acquire a stake of up to 20 percent in Mila through the transaction. The company will use the funds to open… Read More
minu Raises USD6.5 Million in Seed Funding from Mountain Nazca, Others
minu, a Mexico-based payments and payroll management company, has secured USD6.5 million in seed funding from a consortium of investors that includes QED Investors, Village Global, Next Billion Ventures, Mountain Nazca, and undisclosed angel investors. The company’s payments system provides workers with instant access to their earned wages, allowing them to avoid waiting for payday or taking out costly short-term… Read More
Innova Capital Reaches USD297 Million Final Close for Sixth Fund
Innova Capital, a Central and Eastern Europe-focused private equity firm, has reached a final close of EUR271 million (approximately USD297 million) for Innova/6. Previous investors with Innova provided over 60 percent of committed capital. Limited partners in the new fund include institutional and commercial investors from Europe and North America. Innova’s previous fund, Innova/5, closed in November 2009 with EUR381… Read More
Amethis Invests in VLH
Africa-focused private investment fund manager Amethis has invested in VLH, the hospitality subsidiary of Mauritius-listed holding company Rogers Group. VLH operates seven hotels in Mauritius under the brands Heritage Resorts and Veranda Resorts with an emphasis on sustainable tourism. Amethis’ investment will support further development of the Bel Ombre region through new leisure activities and accommodation offerings. Financial details of… Read More
Inspired Evolution Raises USD216 Million at Final Close for Evolution II Fund
Africa-focused energy infrastructure investor Inspired Evolution has attained a final close with USD216 million in commitments for its Evolution II Fund. The fund’s twelve investors include CDC Group, Cyane Holdings, the European Investment Bank, KLP Norfund Investments, and Morgan Stanley Alternative Investment Partners, among others. Evolution II Fund will invest in clean energy infrastructure and resource efficiency opportunities across Sub-Saharan… Read More
Metier Private Equity Leads USD131 Million Vox Telecom Recapitalization
Shareholders in South Africa-based fiber network operator Vox Telecom, including private equity fund manager Metier, have agreed to participate in a ZAR2 billion (approximately USD131 million) recapitalization of the business in partnership with company management. As part of the transaction, Metier, South Africa-based Rand Merchant Bank, and others will buy out the one-third stake owned by fellow investor Investec, a… Read More
KKR Sells Partial Stake in SBI Life Insurance for USD60 Million
Global alternative investment manager KKR has completed a partial exit of Bombay Stock Exchange-listed life insurance company SBI Life, selling 5.3 million shares representing a 0.5 percent stake for INR811 (USD11) per share and returning INR4.3 billion (USD60 million). KKR and Singaporean sovereign wealth fund Temasek Holdings originally acquired a 1.95 percent stake in SBI Life in 2016 and sold… Read More