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Sahel Capital and CardinalStone Capital Advisers Invest in Crest Agro (Sub-Saharan Africa)
Nigeria-focused private equity firms Sahel Capital and CardinalStone Capital Advisers have agreed to invest in Nigeria-based food producer Crest Agro Products. Sahel Capital will invest through the Fund for Agricultural Finance in Nigeria (FAFIN). Crest Agro, an integrated cassava producer with 13,000 hectares of land for farming, plans to use the capital to set up a starch processing facility, as… Read More
DST Global Leads US$450 Million Series D Round for Ofo (Asia)
Private investment firm DST Global has reportedly led a US$450 million Series D round for China-based bike-sharing company Ofo. CITIC Private Equity Funds Management, ride-hailing app operator Didi Chuxing, alternative asset manager Coatue Management, venture capital firms Atomico and Matrix Partners and China-based conglomerate Macrolink Group also participated in the round. Ofo was launched in 2014 and provides over one… Read More
IFC and IFC Global Infrastructure Fund Invest US$100m in Orazul Energy Partners (Latin America)
Development finance institution IFC and the IFC Global Infrastructure Fund (GIF), a fund managed by IFC Asset Management Company, have invested US$100 million in Orazul Energy Partners. Orazul is an affiliate of Orazul Energy Holdings, an energy platform in Latin America established by global infrastructure investment manager I Squared Capital to acquire Duke Energy International’s assets in the region. IFC… Read More
Providence Equity Partners Exits Idea Cellular for US$193 Million (Asia)
Global private equity firm Providence Equity Partners has exited its 3.3 percent stake in India-based mobile operator Idea Cellular on the Bombay Stock Exchange for INR1.29 billion (approximately US$193 million). Providence sold 120 million shares for INR107.32 per share. Providence originally acquired a 15 percent stake in 2006 for INR1.8 billion (approximately US$400 million). Read More
Actis Closes Fourth Energy Fund, Launches Latin America Solar Power Platform (Multi-Region)
Growth markets investor Actis has reached a final close for Actis Energy 4 with US$2.75 billion in capital commitments. Investors in the fund include pension funds, insurance companies, endowments and sovereign wealth funds. The fund will invest in select countries in Latin America, Africa and Asia, targeting control investments in electricity generation and distribution businesses. Separately, Actis committed US$525 million… Read More
True North Agrees to Acquire Majority Stake in Home First Finance Company for US$100 Million (Asia)
India-focused private equity firm True North (formerly known as India Value Fund Advisors) has reportedly agreed to acquire a majority stake in India-based mortgage lender Home First Finance Company (HFFC) for approximately US$100 million. The investment will include both a secondary sale by existing shareholders and an issuance of new shares. True North will complete the transaction through its fifth… Read More
DSG Consumer Partners II Reaches US$40 Million Final Close (Asia)
India-focused early-stage venture capital firm DSG Consumer Partners has reached a final close for its second fund with US$40 million (approximately INR2.67 billion) in capital commitments. The fund will invest in companies in India and Southeast Asia and aims to deploy its entire corpus by mid-2018. Read More
MBK to Buy Daesung Industrial Gases from Goldman Sachs Consortium for US$1.8 Billion (Asia)
North Asia-focused private equity firm MBK Partners has agreed to acquire 100 percent of South Korea-based Daesung Industrial Gases from a consortium led by Goldman Sachs and parent company Daesung Group for a reported KRW2 trillion (approximately US$1.8 billion), including debt. The Goldman Sachs-led consortium had originally acquired a 62 percent stake in the company for US$400 million, including US$200… Read More
IDFC Exits Essar Power for US$87.1 Million (Asia)
IDFC Alternatives, the alternative asset management arm of India-focused infrastructure financing company IDFC, has fully exited India-based power plant operator Essar Power to undisclosed private investors for INR5.8 billion (approximately US$87.1 million). IDFC, which originally invested INR3.5 billion (approximately US$67 million) in 2009 through India Infrastructure Fund I for a 1.5 percent stake in the company, reportedly generated a return… Read More
VinaCapital Exits Sofitel Legend Metropole Hanoi to Joint Venture with Warburg Pincus (Asia)
Asset management firm VinaCapital’s Vietnam Opportunity Fund (VOF) has reportedly exited its 50 percent stake in Vietnam-based hotel Sofitel Legend Metropole Hanoi to the hospitality joint venture owned by the firm and global private equity fund manager Warburg Pincus for US$100 million. The transaction follows the November 2016 partnership agreement between Warburg Pincus and VinaCapital to create an integrated hospitality… Read More
Carlyle to Exit Crystal Orange Hotel to China Lodging for US$530 Million (Asia)
Global alternative asset management firm The Carlyle Group has agreed to exit China-based boutique hotel operator Crystal Orange Hotel Holdings as part of Nasdaq-listed hotel chain China Lodging Group’s acquisition of the company for CNY3.65 billion (approximately US$530 million), subject to customary post-closing adjustments. Carlyle acquired a 49 percent stake in Crystal Orange’s parent company Mandarin Hotel Holdings in June… Read More
Medu Capital Invests in HeroTel (Sub-Saharan Africa)
South Africa-focused private equity firm Medu Capital has acquired a 15 percent stake in South Africa-based wireless broadband internet service provider Hero Telecomms (HeroTel) for ZAR74.25 million (approximately US$5.75 million). With Medu’s support, HeroTel plans to fund its ongoing acquisition plans. Read More