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EXEO Capital Invests in TerraSan (Sub-Saharan Africa)
Pan-African private equity fund manager EXEO Capital has invested in South Africa-based aquaculture company TerraSan through Agri-Vie Fund II. With EXEO’s support, TerraSan plans to expand its abalone and mussel production facilities, improve the quality of bulk fishmeal it produces and expand its fish processing business. Financial details of the transaction were not disclosed. Read More
Actis to Sell 80 Percent Stake in Mentor Management to Turner & Townsend (Sub-Saharan Africa)
Growth markets investor Actis has agreed to sell its 80 percent stake in Kenya-based project management company Mentor Management to global construction and management consultant Turner & Townsend. Mentor Management’s services include project management, construction management, programming and planning and quality control. Actis originally acquired a controlling stake in the company in 2011. Financial details of the transaction, which is… Read More
AIIM and Helios Invest US$30 Million in Starsight Power Utility (Sub-Saharan Africa)
Africa-focused alternative investment firms African Infrastructure Investment Managers (AIIM) and Helios Investment Partners have invested US$30 million in Nigeria-based energy services company Starsight Power Utility. Starsight offers solar-diesel-battery hybrid and cooling and lighting solutions to commercial and industrial clients. AIIM invested through African Infrastructure Investment Fund 3 (AIIF3). Read More
InvAscent Reaches US$210 Million Second Close for India Life Sciences Fund III (Asia)
India-focused private equity fund manager InvAscent has reached a second close for India Life Sciences Fund III with US$210 million in capital commitments, reportedly surpassing its US$200 million target. India Life Sciences Fund III will invest between US$10 million and US$40 million in India-based companies in the pharmaceutical, health care and medical technology sectors. Read More
ACE Equity Partners Acquires Woojin Electric Machinery for US$200 Million (Asia)
Korea-focused private equity firm ACE Equity Partners has acquired a 100 percent stake in Korea-based Woojin Electric Machinery for approximately US$200 million. Woojin, which supplies power equipment and electrical engineering solutions to Korean semiconductor and display manufacturers, reportedly plans to hold an initial public offering in 2019. Read More
Amethis Acquires Minority Stake in Groupe Premium (MENA)
Africa-focused private equity firm Amethis Finance has acquired a minority stake in Morocco-based industrial equipment distributor Groupe Premium. In 2017, Premium acquired the ATS network, which distributes IVECO and ASTRA brands in Ivory Coast, Senegal, Mali, Burkina Faso, Togo and Cameroon. Amethis, which accompanied Premium in the acquisition of the ATS network, plans to support Premium’s expansion in francophone Sub-Saharan… Read More
KKR Partially Exits CICC for US$100 Million (Asia)
Global alternative investment firm KKR has reportedly reduced its stake in Hong Kong Stock Exchange-listed investment bank China International Capital Corporation (CICC) through a partial share disposal totaling HKD780 million (approximately US$100 million). Following completion of the exit, KKR will continue to hold a 2.2 percent stake in CICC. Read More
The Abraaj Group Invests in Selina (Latin America)
Global growth markets investor The Abraaj Group has invested in the Mexico-based subsidiary of Panama-based Selina, an operator of hotels and resorts equipped with co-working spaces for budget-conscious travelers. Financial details of the transaction were not disclosed. Read More
Navis and Novo Tellus to Exit MFS Technology to Dehong Capital Partners (Asia)
Southeast Asia-focused private equity fund managers Navis Capital Partners and Novo Tellus Capital Partners (NTCP) have agreed to exit their controlling stake in Singapore-based printed circuit board manufacturer MFS Technology to China-focused private equity firm Dehong Capital Partners. Navis and NTCP acquired MFS for approximately US$95 million in November 2014 through Navis VII and Novo Tellus PE Fund 1, respectively.… Read More
Legend Star Reaches US$127 Million Final Close for Third Fund (Asia)
Legend Star, the early-stage investment arm of China-based Legend Holdings, has closed its third venture capital fund with CNY800 million (approximately US$127 million) in capital commitments. This is the first time Legend Star, which previously operated as a captive unit, has raised capital from third-party investors. Investors in the fund include Legend Holdings, which remains the largest limited partner in… Read More
Love, Bonito Raises US$13 Million Series B Round from Kakaku.com and NSI Ventures (Asia)
Singapore-based womenswear label Love, Bonito has raised a US$13 million Series B round led by Japan-based comparison shopping website Kakaku.com with participation from existing investor NSI Ventures, the early-stage venture arm of Southeast Asia-focused alternative investment fund manager Northstar Group. Love, Bonito plans to use the funds to bolster its product, data and engineering teams and build brand awareness in… Read More
BigBasket Raises US$300 Million from Alibaba, Abraaj and Others (Asia)
India-based online grocer BigBasket has raised US$300 million in a Series E round led by China-based e-commerce company Alibaba Group Holding, which contributed US$225 million to the deal. Global growth markets investor The Abraaj Group, International Finance Corporation (IFC) and growth investment firm Sands Capital Management also participated in the round and contributed the remainder. BigBasket plans to use the… Read More