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Investisseurs & Partenaires Reaches Final Close of US$25 Million for Fund of Funds (Sub-Saharan Africa)
Sub-Saharan Africa-focused impact investment firm Investisseurs & Partenaires has reached a final close for fund of funds I&P Développement 2 (IPDEV 2) with EUR21 million (approximately US$25 million) in capital commitments. Investors in the fund include the Adolf H. Lundin Charitable Foundation, the African Development Bank, BNP Paribas, Ceniarth, Soros Economic Development Fund and FISEA, an Africa-focused fund managed by… Read More
Goldman Sachs Leads Investment of US$52 Million in JUMO (Sub-Saharan Africa)
Global investment banking and asset management group Goldman Sachs has led a funding round totaling US$52 million for South Africa-based mobile financial services company JUMO. Other investors in the round include development finance institutions Proparco and Finnfund, as well as private equity and venture capital firms Vostok Emerging Finance, Gemcorp Capital and LeapFrog Investments. JUMO, which currently operates in several… Read More
Orchid Asia and TPG Lead US$110 Million Series C Round for Duiba (Asia)
Private equity fund managers Orchid Asia Group and TPG have led a US$110 million Series C round for China-based marketing solutions provider Duiba. The latter helps companies obtain and manage users on their apps and designs customer loyalty programs. The company operates a software-as-a-service platform and an interactive advertising platform. Duiba plans to use the new capital for research and… Read More
KKR and Mexico Infrastructure Partners Raise New CerPis (Latin America)
Global alternative investment manager KKR has raised US$500 million via the listing of a Certificado de Proyectos de Inversión (CerPi) on the Mexican Stock Exchange (BMV). The fund, which was listed under the ticker symbol KKR2PI 18D, will commit to other KKR investment vehicles and make co-investments in Mexico-based companies. Separately, Mexico Infrastructure Partners has raised MXN3 billion (approximately US$160… Read More
Creation Investments Commits US$13 Million to Pluscorp (Latin America)
Global impact investment firm Creation Investments Capital Management has invested MXN250 million (approximately US$13 million) for a minority stake in Mexico-based financial services company Pluscorp. Through its subsidiaries Sofoplus and Plusleasing, Pluscorp provides a range of credit products to individuals and companies. Read More
AfricInvest Exits Kiboko Holdings (Sub-Saharan Africa)
Africa-focused private equity fund manager AfricInvest has fully exited its stake in Kiboko Holdings, a Mauritius-based company with interests in pharmaceuticals, insurance and fast-moving consumer goods businesses in East Africa. AfricInvest committed EUR9.5 million (approximately US$14 million) to Kiboko through AfricInvest Fund II, a Sub-Saharan Africa-focused fund, in May 2011. Financial details of the transaction were not disclosed. Read More
Mekong Capital Exits Minh Hoang Garment (Asia)
Mekong Capital, a Vietnam-focused private equity fund manager specializing in consumer goods and services, has fully exited Minh Hoang Garment, a Vietnam-based manufacturer of sports apparel and outerwear. The deal represents the final divestment for Mekong Enterprise Fund, which first invested US$2 million in Minh Hoang in 2005. Financial details of the transaction were not disclosed. Read More
DPI Acquires Majority Stake in CMGP for US$100 Million; Amethis Exits (MENA)
Africa-focused private equity fund manager Development Partners International (DPI) has acquired a majority stake in Morocco-based irrigation systems company Compagnie Marocaine de Goutte à goutte et de Pompage (CMGP) for US$100 million. DPI purchased the stake through African Development Partners II from CMGP’s founding Moamah family and Amethis Maghreb Fund I, a North Africa-focused fund managed by private investment firm… Read More
B Investments Acquires 53 Percent Stake in Gourmet Group for US$7 Million (MENA)
B Investments, an Egypt-listed investment platform affiliated with private equity firm BPE Partners, has invested EGP125 million (approximately US$7 million) for a 53 percent stake in Gourmet Group, an Egypt-based food manufacturer and distributor. The transaction includes the acquisition of 40 percent of the company’s existing share capital for EGP65 million (approximately US$3.6 million) and a capital increase of EGP60… Read More
Satya MicroCapital Raises US$6 Million from ResponsAbility and Microfinance Enhancement Facility (Asia)
India-based microfinance institution Satya MicroCapital has raised INR400 million (approximately US$6 million) in the form of non-convertible debentures from impact investment fund manager responsAbility Investments and Microfinance Enhancement Facility, a lender to microfinance institutions in developing countries. Satya MicroCapital uses a collateral-free group-lending model that allows borrowers to share repayment liability and build credit. The company will use the funding… Read More
Multiples Reaches First Close of US$400 Million for Third Fund (Asia)
India-focused private equity firm Multiples Alternate Asset Management has reached a first close for its third fund with approximately US$400 million in capital commitments. Investors in the fund include high-net worth individuals Mukesh Ambani, who committed INR1 billion (approximately US$15 million), Binny Bansal and Sunil Munjal. Multiples III was launched in February 2018 with a target of US$750 million and… Read More
Hillhouse Capital Reaches Final Close of US$10.6 Billion for Fund IV (Asia)
China-focused private equity fund manager Hillhouse Capital has reached a final close for Hillhouse Fund IV with US$10.6 billion in capital commitments. Investors in the fund include San Francisco Employees Retirement Fund, which committed US$100 million, Texas County and District Retirement System, which committed US$85 million, and other pension funds, sovereign wealth funds and financial institutions. Fund IV will seek… Read More