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IIFL Wealth Management to Raise US$109 Million from General Atlantic and Others (Asia)
IIFL Wealth Management, an asset management subsidiary of India-listed financial services company IIFL Holdings, has agreed to sell a 5.1 percent stake for INR7.5 billion (approximately US$109 million) to global growth equity fund manager General Atlantic, family office Rimco, strategic investor HDFC Standard Life Insurance and hedge fund managers Ward Ferry, Amansa Holdings and Steadview. IIFL Wealth will issue 4.5… Read More
EMR Capital Acquires Cerro Colorado from BHP for US$230 Million (Latin America)
Global natural resource-focused private equity fund manager EMR Capital has agreed to acquire Chilean copper mine Cerro Colorado from Australia-based resources company BHP for US$230 million. BHP will receive an additional US$40 million in proceeds from the post-closing sale of Cerro Colorado’s copper inventory, as well as up to US$50 million in future payments, dependent upon copper price performance. The… Read More
TPG-backed VCREDIT Raises US$201 Million in IPO, CITIC Capital Invests US$9.9 Million as a Cornerstone Investor (Asia)
China-based non-banking financial services company VCREDIT, which is backed by global private investment firm TPG, has raised HKD1.6 billion (approximately US$201 million) through its initial public offering on the Hong Kong Stock Exchange. VCREDIT sold 78.7 million shares, an increase from the 68.6 million shares originally offered, at a price of HKD20 (approximately US$2.55) per share. The offering includes an… Read More
Small Enterprise Assistance Funds Invests in Geonet, EMU and Bio Spajz (CEE and CIS)
Global SME-focused investment firm Small Enterprise Assistance Funds (SEAF) has invested in Macedonia-based global positioning system service provider Geonet through SEAF Macedonia Fund II. Geonet intends to use the funding to enter new markets, including Greece, Kenya and the United States. Separately, SEAF has backed Serbia-based office furniture retailer EMU and Serbia-based health and organic food retailer and wholesaler Bio… Read More
The Rohatyn Group and BK Partners Acquire Mexican Solar Project from Dhamma Energy (Latin America)
Balam Fund, a Mexico-focused clean energy fund managed by emerging markets-focused fund manager The Rohatyn Group and real estate- and energy-focused investment group BK Partners, has acquired a Mexican solar power project from Spain-based developer Dhamma Energy. The 37-megawatt photovoltaic plant in the state of San Luis Potosi is expected to begin construction in the third quarter of 2018. Dhamma… Read More
General Atlantic Acquires 30 Percent Stake in KIMS Hospitals from ICICI Venture for US$125 Million (Asia)
India-focused private equity firm ICICI Venture Funds Management has exited its 30 percent stake in India-based hospital chain Krishna Institute of Medical Sciences (KIMS Hospitals) to global growth equity fund manager General Atlantic for INR8.5 billion (approximately US$125 million). ICICI Venture invested INR2.2 billion (approximately US$37 million) in 2014 in KIMS Hospitals, which operates six hospitals in the states of… Read More
TPG Invests US$70 Million in Fourth Partner Energy (Asia)
Global private investment firm TPG has invested US$70 million in India-based distributed energy management company Fourth Partner Energy. TPG has completed the investment through The Rise Fund, its global impact investment fund. Fourth Partner Energy, which focuses on developing and financing rooftop solar power projects, intends to use the new funds to grow its industrial, commercial and public-sector client base… Read More
LeapFrog Investments Backs ARM Pension Managers (Sub-Saharan Africa)
LeapFrog Investments, a global impact investing fund manager specializing in financial services and health care, has invested in ARM Pension Managers, the pension fund administration subsidiary of Nigeria-based Asset & Resource Management Company (ARM Group). ARM Pensions has 57 offices across Nigeria and intends to use the new funds to develop its digital strategy, establish partnerships and increase brand awareness.… Read More
LIV Capital and Temasek Invest in Grupo Diagnóstico Proa (Latin America)
Latin America-focused growth-stage private equity fund manager LIV Capital and Singaporean sovereign wealth fund Temasek Holdings have acquired a 32 percent stake in Grupo Diagnóstico Proa, a Mexico-based operator of clinical diagnostic laboratories. The company, which operates 275 branches across Mexico under the Chopo brand, intends to use the funding to expand its domestic operations. Financial details of the transaction,… Read More
The Abraaj Group Exits Orascom Construction Industries for US$52 Million (MENA)
Global growth markets investor The Abraaj Group has fully exited U.A.E.- and Egypt-listed engineering and construction contractor Orascom Construction Industries (OCI) for US$52 million. Abraaj sold 6.3 million shares, representing a 5.4 percent stake, for US$8.30 per share on Nasdaq Dubai. Abraaj first acquired a stake in OCI when the investment firm agreed to merge its fertilizer production operations into… Read More
CVC Capital Partners Invests Total of US$400 Million in Munchy Food Industries and GarudaFood (Asia)
Global private equity firm CVC Capital Partners has acquired a 100 percent stake in Malaysia-based snack food manufacturer Munchy Food Industries (MFI), as well as its subsidiary Munchworld Marketing, for approximately US$250 million. MFI, which produces and distributes biscuits and other snack foods globally, intends to partner with CVC to develop new technology and reach new international markets. Separately, CVC… Read More
Blackstone Reaches US$2.3 Billion Final Close for First Asia Fund, Exits Intelenet (Asia)
Global alternative asset manager The Blackstone Group has reached a final close for its first Asia-focused buyout fund, Blackstone Capital Partners Asia, with approximately US$2.3 billion in capital commitments. Washington State Investment Board and Korea-based Woori Bank reportedly committed US$200 million and US$73 million, respectively, prior to the fund’s US$1.5 billion first close in January. Other investors in the fund… Read More