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.
BlueOrchard-Managed InsuResilience Investment Fund to Acquire Stake in Royal Exchange General Insurance Company
The InsuResilience Investment Fund, a fund set up by German development bank KfW and managed by global impact investment fund manager BlueOrchard Finance, has agreed to acquire a 39 percent stake in Royal Exchange General Insurance Company, a Nigeria-based provider of agriculture insurance. The funding will enable the company to increase its risk capital and support its underwriting capacity in… Read More
Crescera-Backed Afya Raises USD261 Million in IPO
Afya Educacional, a Brazil-based medical education provider, has raised USD261 million in its initial public offering (IPO) on Nasdaq. The offering consisted of 13.7 million shares, including a secondary offering of 1.9 million shares, sold for USD19.00 per share. The company plans to use the proceeds from the offering to fund future acquisitions and investments, as well as to support… Read More
CrossBoundary to Finance 60 Mini-Grids in Tanzania
Frontier market investment firm CrossBoundary and PowerGen Renewable Energy, a Tanzania-based micro-grid developer, have agreed to invest USD5.5 million to finance the development of 60 mini-grids in Tanzania. The project is estimated to bring power to 34,000 people in rural homes and businesses. As part of the transaction, CrossBoundary has signed a USD3 million long-term senior loan agreement with UK… Read More
Sequoia Capital-Backed DouYu Raises USD775 Million in IPO
China-based live streaming game platform DouYu International has raised USD775 million in its initial public offering (IPO) on Nasdaq. The offering consisted of 67.4 million American Depositary Shares (ADS) sold for USD11.50 per ADS, including 22.5 million ADS sold by existing shareholders. DouYu will use the proceeds from the listing to grow its content offerings, strengthen its technology capabilities, and… Read More
Investcorp Reaches USD145 Million Final Close for IDFC Private Equity Fund IV
Global alternative asset manager Investcorp has held a final close for IDFC Private Equity Fund IV with INR10 billion (approximately USD145 million) in commitments. Investors in the fund include high-net worth individuals and international institutional investors. Investcorp took over management of the fund, which held a first close in 2016, following the firm’s acquisition of the private equity and real… Read More
EXEO Acquires Minority Stake in PPHL
Pan-African food and agriculture-focused private equity fund manager EXEO Capital has acquired a significant minority stake in Tanzania-based woven polymer products manufacturer PPHL. The company produces bags, sacks, and tarpaulins for the agriculture and cement industries in Southern and Eastern Africa. EXEO invested through Agri-Vie Fund II. Financial details of the transaction were not disclosed. Read More
Monk’s Hill Leads USD6.8 Million Series B Round for Glints
Southeast Asia-focused venture capital fund manager Monk’s Hill Ventures has led a USD6.8 million Series B investment in Glints, a Singapore-based career development and recruitment platform. Other investors in the funding round include Asia-focused venture capital firms Fresco Capital, MindWorks Ventures, and Wavemaker Partners. Glints intends to use the new funds to expand into Vietnam and Hong Kong and grow… Read More
Actis Acquires Management Rights to Abraaj Global Buyout and Sub-Saharan Africa Funds
Global growth markets investor Actis has acquired the management rights to two funds formerly managed by emerging markets-focused private equity fund manager The Abraaj Group. Actis will take over management of Abraaj Private Equity Fund IV, a global buyout fund, and Abraaj Africa Fund III, a fund focused on sub-Saharan Africa, which hold stakes in a combined 14 portfolio companies.… Read More
Value4Capital Poland Plus Fund Reaches USD103 Million Final Closel
Poland- and Central Europe-focused private equity fund manager Value4Capital has reached a final close for V4C Poland Plus Fund with EUR91 million (approximately USD103 million) in commitments. Investors in the fund include development finance institutions EBRD, EIF, and PFR, as well as a variety of Polish investors. The fund, which has already closed two deals, will focus on buyout opportunities… Read More
Global Capital Management Sells JTC to QPIC
Global Capital Management (GCM), the alternative asset management arm of Global Investment House, and the Boodai family, owners of Kuwait-based conglomerate BoodaiCorp, have sold a 60 percent stake in Kuwait-based port management and logistics services company Jassim Transport and Stevedoring Company (JTC) to Kuwait-based Qurain Petrochemical Industries Company (QPIC). GCM first acquired a majority stake in JTC through Global Buyout… Read More
Investec Acquires Spinneys Egypt from Abraaj
The Africa-focused private equity arm of investment group Investec Asset Management has acquired a controlling stake in Egypt-based supermarket chain Spinneys Egypt from global growth markets investor The Abraaj Group. Investec invested through its second Africa-focused private equity fund. Financial details of the transaction were not disclosed. Read More
H.I.G. Capital Agrees to Acquire Nadir Figueiredo for USD222 Million
Global private equity, debt, and real estate fund manager H.I.G. Capital has agreed to acquire Brazil-listed glass manufacturer Nadir Figueiredo for BRL836 million (approximately USD222 million). Nadir plans to spin out non-core assets into a separate entity, after which H.I.G. will make a tender offer for the company’s shares at a price of BRL63 (USD17) per share. The deal has… Read More