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KKR to Acquire JBF Petrochemicals (Asia)
Global alternative investment manager KKR, through its credit arm, has agreed to acquire 100 percent of JBF Petrochemicals, a subsidiary of India-based polyester manufacturer JBF Industries. The parent company, which reportedly has total debt of about INR110 billion (approximately US$1.6 billion), will use the funds to partly repay obligations to its lenders and will keep some amount for working capital… Read More
Off-Grid Energy Access Fund Reaches US$58 Million First Close (Sub-Saharan Africa)
The Off-Grid Energy Access Fund (OGEF), an Africa-focused fund providing debt financing to companies in the household energy access sector, has reached a first close with US$58 million in capital commitments. Investors in the fund, which will be managed by investment advisory and asset management group Lions Head Global Partners, include development finance institutions the African Development Bank (AfDB), the… Read More
EMX Capital to Exit Bisonte to Grupo Traxion (Latin America)
Mexico-focused private equity fund manager EMX Capital has agreed to fully exit Mexico-based specialized cargo transportation company Autotransportes El Bisonte, selling its controlling stake to Mexico-listed transportation company Grupo Traxion. EMX originally invested in Bisonte through EMX Capital Partners I in 2014. Financial details of the transaction, which is subject to regulatory approvals, were not disclosed. Read More
Advent to Invest US$463 Million in Walmart Brasil (Latin America)
Global private equity fund manager Advent International, which agreed to acquire an 80 percent stake in Walmart Brasil in June 2018, has agreed to invest BRL1.9 billion (approximately US$463 million) in the company’s existing operations across three installments. Advent, which completed the first capital increase of BRL750 million (approximately US$183 million) in August 2018, plans to invest another BRL750 million… Read More
Fincare Raises US$13.5 Million from True North, TA Associates, LeapFrog, Tata Capital and Others (Asia)
Fincare Business Services, the India-based promoter of Fincare Small Finance Bank (SFB), has raised INR950 million (approximately US$13.5 million) from existing investors through a rights issue. Participants in the round include private equity fund managers True North, TA Associates, LeapFrog Investments and Tata Capital, with the latter investing through Tata Opportunities Fund; Kotak Mahindra Life; Edelweiss Tokio Life Insurance; and… Read More
BPEA Partially Exits Hexaware for US$160 Million (Asia)
Asia-focused alternative asset manager Baring Private Equity Asia (BPEA) has partially exited India-listed IT services company Hexaware Technologies, selling an 8.4 percent stake in the company for INR11.2 billion (approximately US$160 million) on the National Stock Exchange of India. After the sale, BPEA retains a 63 percent stake in Hexaware through HT Global IT Solutions Holdings, which is in turn… Read More
DST Global Leads US$200 Million Series D Round for Maimai (Asia)
Private investment firm DST Global has led a US$200 million Series D round for Maimai, a China-based professional networking platform. Existing investors IDG Capital, DCM and Morningside Venture Capital also participated in the round. The company reportedly plans to hold an IPO in the United States and expand overseas in the second half of 2019. Read More
EAIF Lends US$35 Million to Indorama Eleme Fertilizer & Chemicals (Sub-Saharan Africa)
The Emerging Africa Infrastructure Fund (EAIF), a joint public and private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management, has reached financial close for an 11-year US$35 million loan to Nigeria-based Indorama Eleme Fertilizers & Chemicals (IEFCL). The transaction is part of the financing of a US$1.1 billion expansion of the company’s capacity… Read More
Arroyo Energy Investors Acquires Pattern Energy’s Chilean Operations for US$71 Million (Latin America)
North and South America-focused private equity firm Arroyo Energy Investors has acquired the Chilean operations of independent power company Pattern Energy Group for US$71 million in cash. Pattern’s Chilean operations mainly consist of its 81-megawatt ownership interest in the 115-megawatt El Arrayán Wind project. Read More
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