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.
Boyu Capital Leads US$125 Million Funding Round for Trax (Asia)
China-focused private equity firm Boyu Capital has led a US$125 million investment in Trax, a Singapore-based developer of business analytics software serving the retail industry. U.K.-based media company DC Thomson also participated in the funding round. Trax is also backed by global private equity fund manager Warburg Pincus and asset management firm Investec. The company plans to use the new… Read More
Samara Capital Agrees to Acquire More for US$627 Million (Asia)
India-focused private equity fund manager Samara Capital has agreed to acquire India-based grocery chain More from Aditya Birla Retail, the retail arm of India-based conglomerate Aditya Birla Group, at an enterprise value of INR43 billion (approximately US$627 million). The deal is expected to close by September 2018. Read More
Gaja Capital Partially Exits RBL Bank (Asia)
India-focused growth capital fund manager Gaja Capital has partially exited India-listed commercial bank RBL Bank to U.S.-based mutual fund manager Wasatch Funds. Gaja reportedly sold a 0.14 percent stake in RBL at a price of INR560 to INR570 (approximately US$8.12 to US$8.26) per share, reducing its interest in the company to 1.5 percent and generating a return multiple of eight… Read More
Darby Private Equity Exits 18 Percent Stake in ALE Combustíveis (Latin America)
The Brazilian subsidiary of Switzerland-based commodity trader Glencore has agreed to acquire a 78 percent stake in ALE Combustíveis¸ a Brazil-based fuel distributor, from Brazil-based conglomerate Asamar Group, ALE’s CEO Marcelo Alecrim and Darby Private Equity, the private capital arm of Franklin Templeton Investments. Prior to the transaction, Asamar, Alecrim and Darby owned 50 percent, 32 percent and 18 percent… Read More
Dalus Capital Leads US$3 Million Series A Investment in Sirena; NXTP Labs Participates (Latin America)
Mexico-focused early-stage and growth equity fund manager Dalus Capital has led a US$3 million Series A round for Sirena, a Mexico-based developer of communications software for businesses. Latin America-focused accelerator and early-stage investment firm NXTP Labs also participated in the funding round. The company plans to use the funds to develop new communication and artificial intelligence-based products and functionalities. Sirena,… Read More
Portland Private Equity Completes Follow-on Investment in Diverze Assets (Latin America)
Caribbean- and Central America-focused fund manager Portland Private Equity has reportedly completed a follow-on investment in Jamaica-based holding company Diverze Assets. Portland originally invested in Diverze Assets in 2017 through Portland Caribbean Fund II. The company’s subsidiaries include recreation and travel service provider Chukka Caribbean Adventure, automotive products distributor Tropical Battery and real estate developer Diverze Properties. Financial details of… Read More
Advantage Partners Buys 34 Papa John’s China Restaurants (Asia)
Japan- and Asia-focused buyout fund manager Advantage Partners has acquired 34 China-based restaurants from U.S.-listed pizza chain Papa John’s International. The transaction includes locations in Beijing and Tianjin. Advantage invested through its debut pan-Asia fund and will operate the restaurants through acquisition vehicle Asia Gourmet Holdings. Financial details of the transaction were not disclosed. Read More
Kuramo Capital Leads Series A Investment in Green Africa Airways (Sub-Saharan Africa)
Africa-focused alternative asset management firm Kuramo Capital has led a Series A funding round for Nigeria-based budget airline Green Africa Airways. Along with the new investment, the company has announced the appointment of an advisory board led by Tom Horton, the former CEO & Chairman of American Airlines. Green Africa Airways, which has received an Air Transport License from the… Read More
Glisco Partners and Discovery Americas Raise US$72 Million in CerPi Listing on Mexican Stock Exchange (Latin America)
Mexico-focused mid-market private equity fund managers Glisco Partners and Discovery Americas have raised US$72 million via the listing of a Certificado de Proyectos de Inversión (CerPi) on the Mexican Stock Exchange. The fund, which will back Mexico-based mid-sized and pre-IPO companies, listed under the ticker symbol GDISPI 18 and is targeting up to US$800 million in total commitments. Read More
Alta Growth Capital Invests in EAS Systems (Latin America)
Mexico-focused private equity fund manager Alta Growth Capital (AGC) has acquired a 100 percent stake in EAS Systems, a Mexico-based provider of security tags, surveillance systems and other loss prevention products to retailers. AGC invested in the company through Mexico Fund II. EAS currently operates in Mexico, Central America and Colombia and intends to use the new funding to grow… Read More
Unitas Capital to Exit Jiahao Foodstuff for US$694 Million (Asia)
Asia-focused private equity fund manager Unitas Capital has agreed to sell its majority stake in China-based condiments producer Jiahao Foodstuff to Huabao International Holdings for US$694 million. Huabao is a Hong Kong-listed manufacturer of fragrances and flavors, as well as tobacco and aroma-related products. A Unitas-led consortium, which included Pavilion Capital, an investment arm of Singaporean sovereign wealth fund Temasek… Read More
Private Capital-backed Uxin Raises US$225 Million in IPO (Asia)
China-based used-car trading platform Uxin—which is backed by private equity and venture capital fund managers China Renaissance, China Vision Capital, ClearVue Partners, Coatue Management, DCM, Hillhouse Capital Management, KKR, Legend Capital, Tiger Global Management, TPG and Warburg Pincus—has raised US$225 million through its initial public offering on the Nasdaq Stock Market. The company sold 25 million American Depositary Shares (ADS)… Read More