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Carlyle Exits China Logistics Property Holding to Warburg Pincus for US$96.6 Million (Asia)
Global alternative asset manager The Carlyle Group has fully exited China-listed warehouse operator China Logistics Property Holding to global private equity fund manager Warburg Pincus for US$96.6 million. Carlyle originally invested in China Logistics in September 2015, nine months before the company was listed on the Hong Kong Stock Exchange. Read More
CX Partners Reaches US$140 Million First Close (Asia)
India-focused private equity fund manager CX Partners has reportedly reached a first close for its second fund with US$140 million in capital commitments. Investors in the fund include a European development finance institution, an Asian sovereign wealth fund and three Asian funds of funds. The fund is targeting US$250 million in total capital commitments. Read More
Vision Plus Capital Partners Raises US$500 Million for USD and RMB Funds (Asia)
China-focused venture capital fund manager Vision Plus Capital Partners has raised US$500 million in capital commitments for its second U.S. dollar- and renminbi-denominated funds. Commitments are split equally between the two funds. Investors in the funds include China-based internet and industrial companies, sovereign wealth funds, funds of funds, a U.S.-based public institution and several China-based family offices. The funds will… Read More
PAG Loan Fund III Reaches US$950 Million Final Close (Asia)
Asia-focused alternative investment firm PAG has reached a final close for its third loan fund with US$950 million in total capital commitments. Investors in the fund include institutions from North America, Australia and Asia. The fund plans to invest in corporate and real estate opportunities across the Asia Pacific region via mezzanine and subordinated debt structures. Read More
Horizon Capital Fully Exits Ergopack to Sarantis (CEE and CIS)
Horizon Capital, a private equity fund manager that focuses on investments in mid-cap companies in Ukraine and the neighboring region, has fully exited Ukraine-based household goods manufacturer Ergopack to Greece-based consumer goods company Sarantis. Financial details of the transaction were not disclosed. Read More
Edelweiss Infrastructure Yield Plus Fund Reaches US$297 Million First Close (Asia)
Edelweiss Alternative Asset Advisors, an arm of India-based financial group Edelweiss, has reached a first close for Edelweiss Infrastructure Yield Plus Fund with INR20 billion (approximately US$297 million) in capital commitments. Investors in the fund include India-based institutions, family offices and high-net worth individuals, as well as several international investors. The fund, which is targeting INR65 billion (approximately US$966 million)… Read More
KKR Fully Exits Magma Fincorp for US$32 Million, Partially Exits Qingdao Haier for US$153 Million (Asia)
Global investment manager KKR has fully exited India-listed non-banking financial company Magma Fincorp, selling 13 million shares for INR2.15 billion (approximately US$32 million) on the National Stock Exchange of India. KKR originally acquired a 15 percent stake in Magma Fincorp for INR2.4 billion (approximately US$52 million) in May 2011. Separately, KKR partially exited its stake in China-listed home appliance manufacturer… Read More
EQT Mid Market Asia III Reaches US$800 Million Final Close (Asia)
Global private equity fund manager EQT has reached a final close for EQT Mid Market Asia III with US$800 million in capital commitments. Investors in the fund include pension funds, insurance companies and funds of funds. The fund seeks to make control or co-control investments in health care, services, TMT and industrial technology companies based in Greater China and Southeast… Read More
Walmart to Acquire Majority Stake in Flipkart for US$16 Billion; SoftBank, Tiger Global, Accel and Others to Exit (Asia)
Walmart has agreed to acquire a 77 percent stake in India-based e-commerce company Flipkart for US$16 billion, valuing the company at approximately US$21 billion. The deal includes US$2 billion in new equity funding, as well as a US$14 billion secondary acquisition of shares from investors including the SoftBank Vision Fund (selling shares worth US$4 billion), Tiger Global Management (US$3 billion),… Read More
The Carlyle Group Partially Exits PNB Housing for US$152 Million (Asia)
Global alternative asset manager The Carlyle Group has sold a 4.8 percent stake in India-listed PNB Housing Finance, representing 80 million shares, for INR10 billion (approximately US$152 million) via block trades on the Bombay Stock Exchange and National Stock Exchange of India. Concurrently, PNB’s existing investor General Atlantic acquired shares worth INR2.2 billion (approximately US$33 million). The Carlyle Group originally… Read More
Gulf Capital Invests US$266 Million in Geidea (MENA)
Middle East- and Africa-focused alternative investment firm Gulf Capital has acquired a stake in Saudi Arabia-based electronic payment solutions provider Geidea for a total transaction value exceeding SAR1 billion (approximately US$266 million). Geidea has branches in Jeddah, Dammam, Abha and Tabouk, as well as 35 maintenance centers across the country and a research development center in Bangalore, India. Read More
The Abraaj Group and PIC Exit Libstar in US$237 Million IPO (Sub-Saharan Africa)
South Africa-based food, beverage and household products manufacturer Libstar Holdings has raised ZAR3 billion (approximately US$237 million) in its initial public offering on the Johannesburg Stock Exchange. The offering, which priced at ZAR12.50 (approximately US$1) per share, included a ZAR1.5 billion (approximately US$119 million) primary offering and a ZAR1.5 billion (approximately US$119 million) secondary offering of shares by existing investors,… Read More