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The Abraaj Group Exits Middlesex University’s Dubai Campus for US$100 Million (MENA)
Global growth markets investor The Abraaj Group has agreed to sell its stake in the Dubai campus of U.K.-based Middlesex University to Amanat Holdings, a U.A.E.-based investor in health care and education, for approximately US$100 million. Abraaj acquired a stake in the overseas campus, which serves about 3,000 undergraduate and postgraduate students, in January 2017. Read More
Delta Capital Myanmar Reaches US$70 Million Final Close for Second Fund (Asia)
Myanmar-focused private equity fund manager Delta Capital Myanmar has reached a final close for Myanmar Opportunities II with about US$70 million in capital commitments. The fund, which launched in 2016 with a US$100 million target, reached a first close in November of that year with US$30 million in capital commitments. Investors in the fund include family offices from Europe and… Read More
VIPKID Raises US$500 Million Series D+ Round Led by Coatue Management, Sequoia Capital, Yunfeng Capital and Tencent (Asia)
China-based online education company VIPKID has raised a US$500 million Series D+ round led by private equity and venture capital fund managers Coatue Management, Sequoia Capital and Yunfeng Capital and strategic investor Tencent. The company connects students in China and 35 other countries with North American teachers for one-on-one online English lessons. Sequoia Capital, Yunfeng Capital and Tencent also participated… Read More
Matrix Partners Raises US$750 Million for Fifth China Fund (Asia)
Global venture capital fund manager Matrix Partners has reached a final close for Matrix Partners China V with US$750 million in capital commitments. The fund, which received commitments from 53 undisclosed investors, will invest in technology, education, energy, health care and financial services companies in China. Read More
Centurium Capital Reaches US$925 Million First Close for Debut Fund (Asia)
China-focused private equity firm Centurium Capital has reached a first close for its debut fund with US$925 million in capital commitments. Investors in the fund include Asia-, North America- and Europe-based sovereign wealth funds, funds of funds and family offices. Centurium will allocate up to 45 percent of the fund’s corpus to control deals and the remaining capital to minority… Read More
Multiples Alternate Asset Management to Acquire Controlling Stake in APAC Financial Services for US$37 Million (Asia)
India-focused investment advisory firm Multiples Alternate Asset Management has reportedly agreed to invest about INR2.5 billion (approximately US$37 million) for a 60 percent stake in India-based non-banking finance company APAC Financial Services. The company plans to use the funds to expand both its wholesale lending business and its affordable housing vertical, which it operates through subsidiary APAC Housing Finance. Read More
The Carlyle Group Reaches US$6.55 Billion Final Close for Fifth Asia Fund (Asia)
Global alternative asset manager The Carlyle Group has reached a final close for Carlyle Asia Partners V with US$6.55 billion in capital commitments. Investors in the fund include Asian sovereign wealth funds, U.S. pension funds and high-net worth individuals. Launched in July 2017 with a target of US$5 billion, the fund will focus on buyouts and strategic investments across the… Read More
Criterion Africa Partners Reaches US$81 Million First Close for Africa Sustainable Forestry Fund II (Sub-Saharan Africa)
Criterion Africa Partners, a Sub-Saharan Africa-focused private equity firm specializing in the forestry sector, has reached a first close for Africa Sustainable Forestry Fund II with US$81 million in capital commitments. Investors in the fund include impact investment advisor Obviam, the Grantham Foundation for the Protection of the Environment and development finance institutions CDC Group, FMO, EIB and BIO. The… Read More
Novastar Ventures Leads US$1 Million Series A Round for Perennial Foods Group (Sub-Saharan Africa)
East Africa-focused venture capital fund manager Novastar Ventures has led a US$1 million Series A investment in Ethiopia-based specialty food supplier Perennial Foods Group. The Enterprise Development Programme, the impact investing arm of Oxfam Great Britain, also participated in the funding round. Perennial Foods sources organic foods from smallholder farmers and markets and distributes them in Europe and the Middle… Read More
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