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The Carlyle Group Agrees to Acquire 49.9 Percent Stake in Global Credit Ratings (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has agreed to acquire a 49.9 percent stake in South Africa-based emerging markets-focused credit rating agency Global Credit Ratings. The company serves customers across 20 countries, focusing on insurance, financial institutions, corporate and public sector entities and structured finance. Carlyle will invest through Carlyle Sub-Saharan Africa Fund. Financial details of the transaction, which… Read More
TPG, Jeneration Capital and China Vision Capital Lead US$500 Million Investment in Uxin (Asia)
Global private investment firm TPG and China-focused investment firms Jeneration Capital and China Vision Capital have led an investment of US$500 million in China-based used-car trading platform Uxin. Other investors in the round include Warburg Pincus, KKR, Tiger Global Management, Hillhouse Capital, Huasheng Capital and an investment fund managed by China-based advertising company Focus Media. Uxin will use the funds… Read More
CDG Capital Private Equity Exits Intelcia in Sale to Altice Group (MENA)
North Africa-focused private equity firm CDG Capital Private Equity has exited Morocco-based regional outsourcing company Intelcia via sale to Netherlands-based telecommunications company Altice Group for a reported 4.6x return multiple. CDG capital originally invested in Intelcia in 2010. Financial details of the transaction were not disclosed. Read More
AfricInvest and Bpifrance Launch French African Fund (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest and France-based investment bank Bpifrance have launched the French African Fund with EUR77 million (approximately US$82 million) in capital commitments. The fund will invest in small and medium-sized enterprises in both Africa and France, assisting African companies with their expansion into France and the European continent and helping French companies with strategic development in Africa.… Read More
Investec Equity Partners Acquires iDwala from Ethos Private Equity and Others (Sub-Saharan Africa)
Investec Equity Partners, the principal investments division of Investec Asset Management, has acquired South Africa-based industrial lime producer iDwala Industrial Holdings from South Africa-based investors Ethos Private Equity, Kagiso Tiso Holdings and Old Mutual Private Equity. Investec reportedly completed the acquisition in December 2016. Financial details of the transaction were not disclosed. Read More
Finansa Fund Management Agrees to Invest US$6.6 Million in NEO Corporate (Asia)
Finansa Fund Management (FFM), a wholly-owned subsidiary of Thailand-based financial services and investment firm Finansa, has agreed to invest THB237 million (approximately US$6.6 million) in Thailand-based household and personal care products manufacturer NEO Corporate. FFM will invest via a loan with a five-year term that is exchangeable into shares of NEO Corporate. NEO plans to use the funds to construct… Read More
KKR to Exit China-based Modern Dairy; Completes First Close for India-focused Credit Fund (Asia)
Global investment firm KKR and China-focused private equity firm CDH Investments have agreed to exit their stake in China-based milk producer China Modern Dairy Holdings (CMD) to China Mengniu Dairy for HKD1.87 billion (approximately US$241 million). Mengniu will acquire 965.5 million shares from the private equity firms for HKD1.94 (approximately US$1.25) per share and has offered to acquire all additional… Read More
Warburg Pincus and Tencent Holdings Lead US$215 Million Series D Round for Mobike (Asia)
Global private equity firm Warburg Pincus and China-based media and technology group Tencent Holdings have led a US$215 million Series D round for China-based bike sharing company Mobike. Private investment firms Sequoia Capital, TPG and Hillhouse Capital, China-based online travel company Ctrip and China-based hotel management company Huazhu Hotels Group also participated. Warburg invested through Warburg Pincus Private Equity XII. Read More
Capital Group Private Markets to Partner with Wendel to Acquire Tsebo Solutions Group (SSA)
Global private equity firm Capital Group Private Markets will partner with France-based investment company Wendel to acquire South Africa-based facilities services provider Tsebo Solutions Group from a consortium led by South Africa-focused fund manager Rockwood Private Equity. Capital Group will acquire a 35 percent stake and invest through CIPEF VI, while Wendel, which initially agreed to acquire Tsebo in September… Read More
ACON Investments Invests in Controladora GMI (Latin America)
U.S.- and Latin America-focused private equity firm ACON Investments has completed an investment in Mexico-based Controladora GMI, a manufacturer and provider of modular construction solutions serving the aeronautical, education, housing, retail and industrial sectors. ACON invested through ACON Latin America Opportunities Fund IV. GMI will use the new funds to expand regionally. Financial details of the transaction were not disclosed. Read More
Southern Cross Group Acquires Getronics LATAM from OpenGate Capital (Latin America)
Latin America-focused private equity fund manager Southern Cross Group has acquired Getronics LATAM, a Colombia-based provider of integrated information and communications technology products and services, from global private equity firm OpenGate Capital. OpenGate, which acquired Getronics in 2010, reportedly generated an 11x return multiple on its investment. Financial details of the transaction were not disclosed. Read More
ASMA Capital Partners to Acquire Minority Stake in Utico’s Water Business for US$147 Million (MENA)
Bahrain-based fund management firm ASMA Capital Partners has agreed to acquire a minority stake in the water business of United Arab Emirates-based utility company Utico in a deal worth US$147 million. ASMA—which is owned by the Islamic Development Bank, Saudi Arabia's Public Investment Fund and Public Pension Agency and the ministries of finance of Bahrain and Brunei—will invest through IDB… Read More