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Warburg Pincus, The Abraaj Group and IFC Exit Continental Warehousing Corporation to DP World and NIIF (Asia)
Hindustan Infralog, a joint venture between U.A.E.-based port operator DP World and the Indian government-sponsored National Investment and Infrastructure Fund (NIIF), has acquired a 90 percent stake in India-based integrated multimodal logistics company Continental Warehousing Corporation (CWCNSL) for a reported amount of US$400 million. The deal facilitates an exit for private equity firms Warburg Pincus and The Abraaj Group, along… Read More
L Catterton-backed Rapsodia Acquires Baby Cottons (Latin America)
Rapsodia, an Argentina-based women’s apparel group backed by global consumer-focused private equity fund manager L Catterton, has acquired Argentina-based children’s fashion retailer Baby Cottons. The company operates across 23 directly owned locations and eight franchises in various countries in Latin America, as well as the United States and Kuwait. Financial details of the transaction were not disclosed. Read More
Dragon Capital Acquires Stake in Sabeco (Asia)
Vietnam-focused asset manager Dragon Capital and affiliated investors have reportedly acquired 15.3 million shares of Ho Chi Minh City Stock Exchange-listed Saigon Beer-Alcohol-Beverage Corporation (Sabeco). Dragon’s investment was made through various funds including Vietnam Enterprise Investments (VEIL). Financial details of the transaction were not disclosed. Read More
EchoVC Partners Invests in Seed Round for myPadi (Sub-Saharan Africa)
Africa-focused venture capital fund manager EchoVC Partners has completed a seed funding round for Nigeria-based university accommodation booking platform myPadi. The company, which allows students to find and book more than 5,000 off-campus rooms linked to more than 60 tertiary institutions in Nigeria, plans to use the funds to expand to additional cities, add more schools to its platform, invest… Read More
Global Infrastructure Partners to Acquire Infrastructure Portfolio of IDFC Alternatives (Asia)
Global Infrastructure Partners (GIP) has reportedly agreed to acquire the infrastructure portfolio of India-focused multi-asset class fund manager IDFC Alternatives. GIP will acquire assets managed by IDFC’s India Infrastructure Fund I and India Infrastructure Fund II, as well as its growth equity funds. The management team of IDFC’s infrastructure portfolio will join a new entity under GIP’s ownership. Financial details… Read More
The Carlyle Group Exits Greater China Intermodal Investments to Seaspan Corporation (Asia)
Global alternative asset manager The Carlyle Group and minority shareholders have sold their combined 89 percent stake in China-based container ship owner-operator Greater China Intermodal Investments (GCI) to global shipping company Seaspan Corporation. Seaspan will acquire the stake for US$330 million in cash and US$50 million in Seaspan Series D preferred shares. Carlyle originally invested in the creation of GCI… Read More
Adenia Partners Acquires Controlling Stake in Kanu Equipment, Phatisa Partially Exits (Sub-Saharan Africa)
Africa-focused private equity fund manager Adenia Partners has acquired a controlling stake in pan-African agriculture, construction and mining equipment supplier Kanu Equipment. The transaction provides a partial exit for Africa-focused private equity fund manager Phatisa and includes a further US$20 million of expansion capital to support the company’s growth. The partial exit reportedly generated an internal rate of return of… Read More
Tikehau Capital and SPRIM Ventures Reach US$50 Million First Close for TKS1 (Asia)
Pan-European alternative asset manager Tikehau Capital and SPRIM Ventures, the venture capital arm of Singapore-based medical and scientific consultancy SPRIM Group, have reached a first close for their joint venture fund TKS1 with US$50 million in capital commitments. The fund will focus on early-stage opportunities in medical technology and life science companies in Singapore. Read More
Delta Capital Myanmar Invests US$7 Million in Easy Microfinance (Asia)
Myanmar-focused private equity fund manager Delta Capital Myanmar has invested US$7 million for a significant minority stake in Myanmar-based lender Easy Microfinance. The company, which has more than 55,000 clients, plans to use the funds to open new branches and grow its loan portfolio. Delta Capital invested through Myanmar Opportunities Fund II. Read More
EIG Global Energy Partners Invests US$139 Million to Delist Prumo Logística Global (Latin America)
Global energy and infrastructure-focused fund manager EIG Global Energy Partners has invested BRL452 million (approximately US$139 million) in Brazil-based industrial port operator Prumo Logística Global via a tender offer. EIG, which originally invested in Prumo in 2013, acquired 39.3 million shares for BRL11.50 (approximately US$3.53) per share, resulting in a compulsory delisting from the B3 exchange. Prumo operates the industrial… Read More
Helios Investment Partners and Gemcorp Invest US$116 Million in Africell (Sub-Saharan Africa)
Africa-focused private equity fund manager Helios Investment Partners and global investment firm Gemcorp Capital have reportedly invested US$116 million in The Gambia-based telecommunications company Africell via a syndicated loan. Africell, which operates mobile networks in The Gambia, the Democratic Republic of the Congo, Uganda and Sierra Leone, plans to use the funds to expand its 4G service offerings. Read More
Warburg Pincus to Invest US$370 Million in Techcombank (Asia)
Global private equity fund manager Warburg Pincus has agreed to invest more than US$370 million in Vietnam Technological and Commercial Joint Stock Bank, known as Techcombank. The company, which serves more than five million customers via 315 branches in Vietnam, plans to use the funds to expand its operations and market share in the country. The transaction is subject to… Read More