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Cinven Acquires Partner in Pet Food from Pamplona Capital Management (CEE and CIS)
Pan-European private equity firm Cinven has agreed to acquire Hungary-based pet food manufacturer Partner in Pet Food (PPF) from alternative investment firm Pamplona Capital Management. Pamplona acquired PPF in 2015 from global private equity fund manager Advent International through Pamplona Capital Partners IV for EUR315 million (approximately US$339 million). Financial details of the transaction, which is subject to social organization… Read More
Sinovation Ventures Reaches US$500 Million Final Close for Fourth U.S. Dollar Fund (Asia)
China-focused venture capital firm Sinovation Ventures has reached a final close for its fourth U.S. dollar-denominated fund with US$500 million in capital commitments. Reportedly launched in February 2018, the fund has received commitments of US$50 million from Spain-based banking group BBVA and US$15 million from International Finance Corporation, as well as additional commitments from pension funds, funds of funds, a… Read More
FPT Retail Lists on HOSE (Asia)
FPT Retail, the digital retail arm of Vietnam-based information technology company FPT, has officially listed 40 million shares in the company on the Hochiminh Stock Exchange (HOSE) at VND125,000 (approximately US$5.47) per share. The company is backed by Vietnam-focused investment firms Dragon Capital Group and VinaCapital. Dragon Capital and VinaCapital invested in FPT Retail in 2017 and own 20 percent… Read More
Providence Equity Partners-backed Indus Towers to Merge with KKR- and CPPIB-backed Bharti Infratel (Asia)
Shareholders of India-based mobile telecommunications infrastructure operator Indus Towers have agreed to merge their respective holdings in the company into Bharti Infratel, another India-based telecommunications company. Indus Towers is owned by Bharti Infratel, U.K.-based mobile network company Vodafone, India-based telecommunications company Idea Cellular and private equity firm Providence Equity Partners. The transaction values the combined entity at INR715 billion (approximately… Read More
Sky9 Capital Reaches US$200 Million Final Close for Fund III (Asia)
China-focused early-stage venture capital firm Sky9 Capital has reached a final close for Sky9 Capital Fund III with US$200 million in capital commitments. Limited partners in the fund include institutional investors, family foundations and high-net worth individuals. The fund will invest mainly in China-based internet and technology companies. Read More
Manbang Raises US$1.9 Billion in Funding Round Led by SoftBank and China Reform Fund (Asia)
China-based truck-hailing company Manbang Group has raised US$1.9 billion in a funding round led by the SoftBank Vision Fund and China Reform Fund, an investment firm backed by China Reform Holdings and other Chinese state-owned institutions. Other participants in the round include investment firms Farallon Capital, Baillie Gifford, Sequoia Capital, Hillhouse Capital and GVC Capital, as well as strategic investors… Read More
Mubadala Investment Company and Mubadala Infrastructure Partners Exit 50 Percent Stake in Abu Dhabi Terminals (MENA)
Abu Dhabi state investor Mubadala Investment Company and emerging markets-focused infrastructure fund manager Mubadala Infrastructure Partners (MIP) have exited their joint 50 percent stake in Abu Dhabi Terminals (ADT), a United Arab Emirates-based port operator. The stake was purchased by the remaining shareholder in the company, United Arab Emirates-based port and industrial zone developer Abu Dhabi Ports. MIP acquired a… Read More
Cordiant Capital Leads US$79 Million Debt Financing for Brazil Tower Company (Latin America)
Emerging markets-focused private credit fund manager Cordiant Capital has led a group of three international lenders in providing US$79 million in senior-secured debt financing for Brazil-based wireless tower builder and operator Brazil Tower Company (BTC). The investment forms part of a round totaling US$104 million, the remaining US$25 million of which BTC expects to secure in the third quarter of… Read More
Warburg Pincus-backed Techcombank to Raise US$922 Million in IPO (Asia)
Vietnam-based private sector lender Techcombank, which is backed by global private equity fund manager Warburg Pincus, will reportedly raise US$922 million in its initial public offering on the Ho Chi Minh City Stock Exchange. The bank has agreed to sell 164 million shares, representing 14.1 percent of its total equity capital, at VND128,000 (approximately US$5.62) per share in the offering… Read More
Victoria Capital Partners Acquires Import Sports (Latin America)
Latin America-focused private equity fund manager Victoria Capital Partners has acquired Brazil-based sports nutrition distributor Import Sports. The company is the exclusive distributor in Brazil of brands including Optimum Nutrition, Dymatize, Isopure and Ultimate Nutrition. Financial details of the transaction were not disclosed. Read More
Gaja Capital Partially Exits TeamLease for US$25 Million (Asia)
India-focused private equity fund manager Gaja Capital has partially exited India-based staffing services company TeamLease for INR1.65 billion (approximately US$25 million). Gaja sold 746,810 shares, representing a 4.37 percent stake, at INR2,210 (approximately US$33.58) per share on the Bombay Stock Exchange and the National Stock Exchange of India. Gaja invested in the company in 2009 and 2011 through Gaja Capital… Read More
TLcom Capital Leads US$3.5 Million Series A Round for mSurvey (Sub-Saharan Africa)
Telecom, media and technology-focused venture capital fund manager TLcom Capital has led a US$3.5 million Series A funding round for Kenya-based consumer research company mSurvey. Additional participants in the round include technology-focused impact investment firms Social Capital and Kapor Capital, Africa-focused impact investment holding company Golden Palm and Net Promoter Score co-founder Richard Owen. mSurvey, which recently opened offices in… Read More