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Samena Capital to Invest US$20 Million for 19 Percent Stake in Softlogic Holdings (Asia)
Samena Capital, a principal investment group focused on the Indian subcontinent, the Middle East and North Africa, has reportedly agreed to invest LKR3.11 billion (approximately US$20 million) in Sri Lanka-listed diversified conglomerate Softlogic Holdings. The company will issue 182.7 million ordinary shares via private placement for LKR17.00 (approximately US$0.11) per share, after which Samena will hold a 19 percent stake.… Read More
Actis Acquires El Pelicano Solar Plant (Latin America)
Growth markets investor Actis has acquired the 110-megawatt El Pelicano Solar Plant in Chile. The plant, which commenced operation in November 2017, is expected to deliver 300 gigawatt hours per year of electricity to Metro de Santiago, Santiago’s underground railway system. Metro de Santiago will buy the power generated by the plant under a power purchase agreement while global renewable… Read More
Nexxus Capital Reaches US$159 Million First Close for Nexxus Iberia Private Equity Fund I (Latin America)
Mexico-focused private equity firm Nexxus Capital has reached a first close for Nexxus Iberia Private Equity Fund I with EUR130 million (approximately US$159 million) in capital commitments. Investors in the fund include institutional investors, high-net worth individuals and family offices from Mexico and Spain. The fund, which has a target of EUR200 million (approximately US$245 million), will invest in small… Read More
LeapFrog Leads US$47 Million Investment in NeoGrowth Credit (Asia)
Emerging markets specialist private equity fund manager LeapFrog Investments has led a US$47 million investment round for India-based digital lender NeoGrowth Credit. Existing investors Aspada Investment Company and Quona Capital also participated in the round. NeoGrowth, which lends to small and medium-sized businesses based on digital payments data, plans to use the funds to grow its lending capabilities and expand… Read More
Intermediate Capital Group Acquires PSB Academy from Baring Private Equity Asia (Asia)
Global specialist asset manager Intermediate Capital Group (ICG) has acquired 100 percent of Singapore-based tertiary education provider PSB Academy from Asia-focused alternative asset management firm Baring Private Equity Asia (BPEA). PSB, which operates two campuses in Singapore and schools in Vietnam, Myanmar and Indonesia, offers tertiary degrees under the brands of university partners from Australia and the United Kingdom. BPEA… Read More
AlpInvest Partners Leads US$450 Million Stapled Secondary Transaction for Southern Capital (Asia)
Global private markets manager AlpInvest Partners has led a consortium of investors, including Singaporean sovereign wealth fund GIC, in a US$450 million stapled secondary investment for Southeast Asia-focused private equity fund manager Southern Capital. The investment will primarily be used to acquire stakes in Southern Capital’s Mulberry Asia Fund II, which closed in 2009 with US$300 million in capital commitments… Read More
Janalakshmi Financial Services Raises Funding from HarbourVest, Others (Asia)
India-based non-banking financial company Janalakshmi Financial Services has reportedly raised a funding round of approximately INR6 billion to INR7 billion (approximately US$94 million to US$110 million) from a group of investors including global private markets asset manager HarbourVest Partners. HarbourVest reportedly contributed INR2.5 billion to INR2.6 billion (approximately US$39 million to US$41 million). The company plans to rebrand as Jana… Read More
Investec-managed EAIF Supports US$189 Million Refinancing of Central Termica de Ressano Garcia (Sub-Saharan Africa)
The Emerging Africa Infrastructure Fund (EAIF), a joint public and private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management, has backed a US$189 million refinancing of Mozambique-based thermoelectric power plant developer Central Termica de Ressano Garcia (CTRG). EAIF provided a B loan totaling US$21 million as part of an International Finance Corporation (IFC)-led… Read More
TPG, Evolution Media and Satya Capital to Acquire Majority Stake in TRACE (Sub-Saharan Africa)
Global private investment firm TPG, along with media-focused investment company Evolution Media and Africa-focused investment firm Satya Capital, has agreed to acquire a majority stake in France-based, Sub-Saharan Africa-focused online music and entertainment platform TRACE. The company, which owns and operates 30 digital and mobile services, 21 pay television channels and seven radio stations, plans to partner with TPG to… Read More
Partech Ventures Reaches US$70 Million First Close for Partech Africa Fund (Sub-Saharan Africa)
Western Europe- and U.S.-focused venture capital firm Partech Ventures has reached a first close for Partech Africa Fund with more than EUR57 million (approximately US$70 million) in capital commitments. Investors in the fund include development finance institutions IFC, which committed EUR15 million (approximately US$18 million), and European Investment Bank (EIB); Averroès Finance III, a fund of funds managed by Bpifrance… Read More
CDIB Capital, IDG Capital, Credit Suisse and Temasek Invest US$100 Million in Rokid (Asia)
China-based software developer Rokid has raised a US$100 million funding round led by Singaporean sovereign wealth fund Temasek with participation from CDIB Capital, the private equity arm of China Development Financial, global venture capital firm IDG Capital and global financial services company Credit Suisse. Rokid develops advanced voice recognition software, artificial intelligence technology and smart home devices. Read More
The Carlyle Group Sells Stake in Microport Scientific for US$49.4 Million (Asia)
Global asset management firm The Carlyle Group has reportedly sold 46 million shares of Hong Kong-listed medical device manufacturer Microport Scientific for HKD8.40 (approximately US$1.07) per share, generating proceeds of HKD386 million (approximately US$49.4 million). Carlyle originally invested in the company in 2016 through Carlyle Asia Partners IV. Read More