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Sequoia Capital India Reaches US$695 Million Final Close for Sixth Fund (Asia)
Global venture capital firm Sequoia Capital’s India arm has reached a final close for its sixth fund with US$695 million in capital commitments. The fund will invest in early- and growth-stage companies in the technology, consumer and health care sectors across India and Southeast Asia. Read More
Finance in Motion Reaches US$60 Million First Close for Arbaro Fund (Latin America, Sub-Saharan Africa)
Global impact asset manager Finance in Motion and timber sector advisory company Unique have reached a first close for the sustainable forestry-focused Arbaro Fund with US$60 million in capital commitments. Investors in the fund include development finance institutions the European Investment Bank, which committed US$20 million, and Finnfund, Austrian fair-practice pension fund Vorsorgekasse, non-profit organization GLS Treuhand and transport company… Read More
AirTrunk Raises US$621 Million from TPG, Goldman Sachs and Others (Asia)
AirTrunk, a Singapore-based data center provider focused on Australia and other Asia-Pacific markets, has raised AUD850 million (approximately US$621 million) in senior debt financing and equity from shareholders including global private investment firms TPG and Goldman Sachs. Deutsche Bank was the lead arranger, underwriter and sole bookrunner for the senior debt facilities. TPG invested through TSSP, its dedicated credit and… Read More
Gaja Capital Exits TeamLease for US$21 Million (Asia)
India-focused mid-market private equity fund manager Gaja Capital has sold a 3.3 percent stake in India-listed staffing services company TeamLease for INR1.48 billion (approximately US$21 million). Gaja sold 561,353 shares at INR2,645 (approximately US$37.82) per share on the National Stock Exchange of India. Gaja originally invested in the company in 2009 and 2011. Read More
Blackstone Exits Bujagali Hydropower Project to SN Power for US$277 Million (Sub-Saharan Africa)
Global alternative asset manager The Blackstone Group has exited a 65 percent stake in Bujagali Energy (BEL), the developer of the 250-megawatt Bujagali hydropower project in Uganda. SN Power, a hydropower developer owned by development finance institution Norfund, acquired Blackstone’s interest for US$277 million. Blackstone first invested US$120 million in the BEL project in December 2007 through Blackstone Capital Partners… Read More
Highland Capital Reaches US$15 Million First Close for Maiden Fund (CEE and CIS)
Kyrgyzstan-focused private equity fund manager Highland Capital has reached a first close for its first fund with US$15 million in capital commitments. Investors in Highland Private Equity & Mezzanine Fund include development finance institution IFC, which committed US$8 million, and high-net worth individuals Gregory Serrurier and Emil Umetaliev. The fund will make growth investments of US$800,000 to US$5 million in… Read More
Be Grand Raises US$211 Million Debut CKD (Latin America)
Mexico-focused real estate group Be Grand has raised MXN4 billion (approximately US$211 million) via the listing of a Certificado de Capital de Desarollo (CKD) on the Mexican Stock Exchange. Investors in the CKD include Mexican pension fund Afore XXI Banorte, Mexican bank Citibanamex, Singaporean sovereign wealth fund Temasek Holdings and Seguros MetLife. The fund plans to develop residential projects in… Read More
Vantage Capital Provides US$145 Million to Six South African Renewable Energy Projects (Sub-Saharan Africa)
Africa-focused private credit fund manager Vantage Capital has provided ZAR2.05 billion (approximately US$145 million) in debt funding to six solar and wind energy projects in South Africa with a combined capacity of 433 megawatts. The projects are part of the South African Renewable Energy Independent Power Producer (REIPP) procurement program and were developed by BioTherm Energy, Old Mutual Life Assurance… Read More
KKR to Acquire Majority Stake in Ramky Enviro Engineers for US$530 Million (Asia)
Global alternative investment manager KKR has agreed to acquire a 60 percent stake in India-based waste management company Ramky Enviro Engineers for US$530 million. KKR will invest through KKR Asian Fund III via a combination of primary and secondary investments, valuing the company at US$925 million. Read More
True North to Acquire Glenmark’s Orthopedic and Pain Management Business for US$93 Million (Asia)
India-focused private equity fund manager True North has agreed to acquire Glenmark Pharmaceuticals’ orthopedic and pain management business in India and Nepal at an enterprise value of INR6.35 billion (approximately US$93 million). True North will invest through its fifth fund and rebrand the business as Integrace. The transaction is expected to close in two to three months. Read More
EMR-led Consortium to Exit Martabe Mine to United Tractors for US$1.21 Billion (Asia)
A consortium led by natural resources-focused private equity fund manager EMR Capital and global asset manager Farallon Capital Management has agreed to sell its 95 percent stake in Indonesia-based gold and silver mine Martabe to Indonesia-listed mining and heavy machinery company United Tractors for an enterprise value of US$1.21 billion. The consortium originally acquired its stake in Martabe in 2016… Read More
Mekong Capital Exits Asia Chemicals Corporation for US$8.9 Million (Asia)
Vietnam-focused private equity fund manager Mekong Capital has fully exited Vietnam-based Asia Chemicals Corporation (ACC) for US$8.9 million. ACC distributes specialty ingredients, chemicals, non-oil related commodities and other materials to companies in Vietnam. Mekong, which originally invested US$3.8 million in ACC in 2011 through Mekong Enterprise Fund II, generated a gross return multiple of 2.6x and a gross internal rate… Read More