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Warburg Pincus Commits US$300 Million to Joint Venture with CREATER, Joins US$300 Million Round for Yuanfudao
Global private equity fund manager Warburg Pincus and China-based commercial real estate developer CREATER have agreed to establish a joint venture to pursue urban redevelopment projects in China. As part of the agreement, Warburg will commit up to US$300 million in equity to CREATER at the corporate level and to establish the joint venture. Separately, Warburg has participated in a… Read More
EFG Hermes Private Equity Reaches US$119 Million First Close for Egypt Education Fund
EFG Hermes Private Equity, a Middle East and North Africa-focused private equity fund manager, has reached a first close for Egypt Education Fund (EEF) with US$119 million in capital commitments. Launched in May 2018, the fund reportedly exceeded the first close target of US$50 million to US$100 million. Investors in EEF include high-net worth individuals and institutional investors from Egypt,… Read More
Axiom Asia Reaches Final Close for Fifth Fund of Funds at US$1.4 Billion
Asia-focused fund of funds manager Axiom Asia Private Capital has reached a final close for its fifth regional fund of funds with US$1.4 billion in capital commitments. Investors in the fund include State Teachers Retirement System of Ohio, which committed US$75 million; Montana Board of Investments, which invested US$40 million; Metropolitan Government of Nashville and Davidson County Employees’ Benefit Trust… Read More
Triple P Capital Acquires Contemi Group
Triple P Capital, a Southeast Asia-focused private equity firm investing in non-bank financial services, has acquired a 100 percent stake in Asia- and Scandinavia-focused insurance IT solutions provider Contemi Group. The company, which was founded in Norway and the United Kingdom in 2001, expanded to Vietnam in 2011 and employs a team of 60 developers in the country. Financial details… Read More
Emerging Capital Partners Acquires Majority Stake in Artcaffé Group
Africa-focused private equity fund manager Emerging Capital Partners (ECP) has acquired a majority stake in Artcaffé Group, a Kenya-based restaurant company. Artcaffé operates 26 restaurants in Nairobi across five brands, including Artcaffé Coffee and Bakery, Dorman’s Coffee, OhCha Noodle Bar, Urban Burger Bar and Tapas Ceviche Bar. Artcaffé intends to utilize the new capital to pursue expansion opportunities. Financial details… Read More
The Carlyle Group Agrees to Invest US$40 Million in Wakanow; African Capital Alliance to Exit
Global alternative asset manager The Carlyle Group has agreed to invest US$40 million in Wakanow, a Nigeria-based online travel agency focused on West and East Africa. Carlyle invested through its Sub-Saharan Africa Fund. West Africa-focused private equity fund manager African Capital Alliance (ACA), which invested US$13 million in Wakanow in August 2014 through its third fund, has exited the company… Read More
Leapfrog Acquires Stake in Softlogic Life Insurance from FMO for US$12 Million
Emerging markets-focused profit-with-purpose private equity firm LeapFrog Investments has purchased a stake in Sri Lanka-based Softlogic Life Insurance from Dutch development finance institution FMO for US$12 million. The company offers a range of life and health insurance products and has partnered with Sri Lanka-based telecommunications company Dialog Axiata to provide insurance through consumers’ mobile phones. FMO originally invested in Softlogic… Read More
KKR Raises US$183 Million for Second CerPi Offering, Agrees to Invest Up to US$33 Million in Barghest Building Performance (Latin America, Asia)
Global alternative investment manager KKR has raised US$183 million via a Certificado de Proyectos de Inversión (CerPi) offering on the Mexican Stock Exchange (BMV). KKR raised US$100 million for the Series A tranche and US$83 million for the Series B. The two series listed under the ticker symbols KKRPI 18D and KKRPI 18-2D, respectively. The CerPi has the option to… Read More
Global Affairs Canada Requests Expressions of Interest in Partnership for Gender Equality
Global Affairs Canada has launched a request for expressions of interest (EOIs) to design and manage the Partnership for Gender Equality. Launched in May 2018, the Partnership forms part of Canada’s initiative to catalyze investment from the private and public sectors in support of gender equality, women’s rights and the empowerment of women and girls in developing countries. The Partnership… Read More
Motilal Oswal and InvAscent Invest US$100 Million in Symbiotec Pharmalab, Acquire 70 Percent Stake from Actis
India-focused alternative investment fund managers Motilal Oswal Private Equity (MOPE) and InvAscent have reportedly invested US$100 million in Symbiotec Pharmalab, an India-based pharmaceutical ingredient manufacturer. The transaction included the acquisition of a 70 percent stake in Symbiotec from global growth markets investor Actis, as well as a primary equity investment. MOPE invested through India Business Excellence Fund III. Actis originally… Read More
Standard Chartered Agrees to Sell Majority of PE Assets to ICG for US$994 Million; Affirma Capital Takes Over Activities of SCPE (Multi-region)
U.K.-based financial services group Standard Chartered has agreed to terms for the spinout of its private equity business and the sale of the majority of private equity assets held on its balance sheet. Affirma Capital, a newly formed independent private equity firm owned and operated by the former management team of Standard Chartered Private Equity (SCPE), will manage the SCPE… Read More
Faering Capital Leads Series B Round of US$14 Million for WheelsEMI (Asia)
India-focused private equity fund manager Faering Capital has led a Series B round of INR1 billion (approximately US$14 million) for WheelsEMI, an India-based non-banking financial company that provides financing for pre-owned two-wheeler vehicles. Faering invested INR640 million (approximately US$9 million), and Elevar Equity, an emerging markets-focused venture capital firm, reportedly committed the remaining INR360 million (approximately US$5 million). The company… Read More