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CITIC Capital China Partners IV Reaches USD2.8 Billion Final Close
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings, has reached a final close for CITIC Capital China Partners IV with USD2.8 billion in commitments. Investors in the fund include pension funds, sovereign wealth funds, insurance companies, financial institutions, family offices, and funds of funds. The fund will focus on opportunities within the consumer, health care, business services,… Read More
KKR Acquires Majority Stake in NVC China, Raises USD1 Billion for Impact
Global investment manager KKR has agreed to acquire a 70 percent stake in NVC China, the China business of Hong Kong-listed multinational lighting products manufacturer NVC Lighting, for USD794 million. The transaction, which is subject to shareholder and regulatory approval and closing conditions, will be completed through KKR’s Asian Fund III. Separately, KKR has reportedly raised more than USD1 billion… Read More
Verod Capital Reaches USD150 Million Interim Close for Verod Fund III
West Africa-focused private equity firm Verod Capital Management has reached an interim close for Verod Fund III with USD150 million in commitments. Investors in the fund include the European Investment Bank and African Development Bank, as well as other development finance institutions, international funds of funds, asset managers, foundations, sovereign wealth funds, and family offices. Verod Fund III will invest… Read More
Confrapar and GEF Acquire 49 Percent Stake in Unicoba Baterias
Brazilian technology-focused fund manager Confrapar and global alternative asset manager GEF Capital Partners have agreed to acquire a 49 percent stake in Unicoba Baterias, a Brazil-based electronic components manufacturer, for BRL100 million (approximately USD25 million) from J.P. Morgan subsidiary One Equity Partners and Unicoba’s controlling family. The company produces rechargeable batteries, GPS navigators, LED lighting, and welding equipment, and also… Read More
Airlift Secures USD2.2 Million Seed Round from Fatima Gobi Ventures and Indus Valley Capital
Pakistan-based ride-sharing service Airlift has secured USD2.2 million in seed funding from Fatima Gobi Ventures—a joint venture between Pakistan-based conglomerate Fatima Group and Asia-focused venture investor Gobi Partners—and Pakistan-focused venture capital fund manager Indus Valley Capital, along with multiple high-net-worth individuals. The company allows users to reserve seats on buses and vans that have scheduled routes and stops via a… Read More
TPG and Ontario Teachers’ Acquire Minority Stake in Dream Cruises
Canadian pension fund Ontario Teachers’ Pension Plan and global alternative asset manager TPG Capital have agreed to acquire a 35 percent stake in Dream Cruises, a Hong Kong-based cruise operator, from holding company Genting Hong Kong (GHK) for USD489 million. The company will use the funds and partnership to upgrade its fleet and improve its customer service. The transaction, which… Read More
NIIF Holds USD2 Billion Third Close for NIIF Master Fund
India’s National Investment and Infrastructure Fund (NIIF) has held a third close for NIIF Master Fund with USD2 billion in commitments. As part of the close, pension funds AustralianSuper and Ontario Teachers’ Pension Plan have each agreed to commit up to USD250 million to the fund and secured co-investment rights of up to USD750 million. Other investors in the fund… Read More
Warburg Pledges Stake in IDFC First Bank to Return Capital to Investors
Global private equity fund manager Warburg Pincus has pledged its 9.86 percent stake in India-based lending platform IDFC First Bank in order to raise USD150 million from a consortium of banks. Warburg will then use the loan to return capital to limited partners in its funds. IDFC First Bank, which was born out of a merger between India-based lenders IDFC… Read More
Adobe Reaches USD30 Million Final Close for Adobe Mezzanine Fund II
Mexico-focused impact investment fund manager Adobe Capital has reached a final close for Adobe Mezzanine Fund II with USD30.3 million in commitments. Investors in the fund includ a variety of domestic and international institutional investors. The fund will target returns-focused opportunities in Mexico that create a positive social and environmental impact. Read More
Investec Acquires Manda Hill, Finances GSEZ Ports
Growthpoint Investec African Properties (GIAP), a pan-African real estate investment trust managed by Africa-focused investors Investec Asset Management and Growthpoint Properties, has acquired a 100 percent stake in Zambia-based Manda Hill shopping center from local property investment company AttAfrica. Manda Hill comprises 42,000 square meters of retail space. Financial details of the transaction were not disclosed. Separately, the Emerging Africa… Read More
Carlyle Divests USD127 Million Stake in China
Global alternative asset management firm The Carlyle Group has sold part of its stake in Hong Kong Stock Exchange-listed China Literature, an online literature platform, for HKD994 million (approximately USD127 million). The company offers more than 11 million books to the more than 200 million monthly active users on its platform. Carlyle, which originally invested in China Literature in 2014… Read More
BPEA Acquires Acuon Capital from J.C. Flowers & Co.
Baring Private Equity Asia (BPEA) has acquired South Korea-based consumer finance and leasing company Acuon Capital, facilitating an exit for financial services-focused buyout firm J.C. Flowers & Co. Acuon, which mamnages a USD3.9 billion loan portfolio, was formed through the merger of three South Korea-based lending businesses. The company plans to use its partnership with BPEA to accelerate its growth… Read More