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DEG, OeEB, BSTDB and Cordiant Invest US$69 Million in Hayat Kimya Sanaki (CEE and CIS)
German development finance institution DEG has arranged EUR66 million (approximately US$69 million) in debt financing for Turkey-based household goods and hygienic products manufacturer Hayat Kimya Sanaki. Co-financers include emerging markets-focused private credit fund manager Cordiant Capital, the Development Bank of Austria (OeEB) and the Black Sea Trade and Development Bank (BSTDB). DEG provided a long-term loan of EUR25 million (approximately… Read More
Primavera Capital Fund II Reaches Final Close with US$1.9 Billion in Commitments (Asia)
China-focused private investment firm Primavera Capital Group has reached a final close for its second U.S. dollar-denominated China-focused fund with US$1.9 billion in commitments, surpassing its US$1.5 billion target. Investors in the fund include Pennsylvania State Employee’s Retirement System, Taiwan Semiconductor Manufacturing, the Second Swedish National Pension Fund, China-based Taikang Insurance Group and Finland-based Varma Mutual Pension Insurance. Primavera focuses… Read More
Gulf Credit Opportunities Fund II Reaches Final Close with More Than US$250M in Commitments (MENA)
Middle East-focused alternative asset manager Gulf Capital has reached a final close for its second private debt and mezzanine fund, Gulf Credit Opportunities Fund II, over its target of US$250 million in capital commitments. Investors in the fund include sovereign wealth funds, international institutional investors, regional insurance companies, foundations and family offices. Development finance institution International Finance Corporation committed US$25… Read More
Careem Raises US$350 Million from Rakuten, Saudi Telecom, Abraaj, Wamda Capital, and Others (MENA)
United Arab Emirates-based ride-hailing company Careem has raised US$350 million in a round led by Japan-based e-commerce and internet company Rakuten and telecom operator Saudi Telecom Company. Global growth markets investor The Abraaj Group; venture capital firms Wamda Capital, Beco Capital, Endure Capital and Lumia Capital; asset manager SQM Frontier Management and a series of corporate investors also participated in… Read More
CNEI Exits IAT Automobile Technology for US$28 Million (Asia)
China-focused growth capital fund manager China New Enterprise Investment (CNEI) has exited its 13 percent stake in China-based automotive and engine design service provider IAT Automobile Technology through block trades on China’s National Equities Exchange & Quotations for US$28 million. CNEI, which originally invested in IAT Automobile in 2009, reportedly generated a 2.8x gross return multiple of invested capital. Read More
Mediterra Capital, EBRD and Hermes GPE Acquire 70 Percent Stake in Arkel (CEE and CIS)
Turkey-focused private equity firm Mediterra Capital, global private equity specialist Hermes GPE and development finance institution European Bank for Reconstruction and Development have acquired a 70 percent stake in Turkey-based elevator technology company Arkel. Mediterra Capital invested through Mediterra Capital Partners II. Arkel manufactures electrical components for elevators and exports its products to countries across Europe and India. Financial details… Read More
Creador Closes Third Fund with US$415 Million in Commitments (Asia)
South and Southeast Asia-focused private equity firm Creador Capital has reached a final close for its third fund with US$415 million in capital commitments. Investors in the fund reportedly include global private markets asset managers and advisors Hamilton Lane, Siguler Guff & Company and Hermes GPE. The fund will invest in consumer-oriented businesses in Indonesia, Malaysia, Singapore, the Philippines, India… Read More
One Equity Partners & TRPE Capital Exit Netas Telekomunikasyon to ZTE International (CEE/CIS)
Private equity firms One Equity Partners and TRPE Capital have agreed to sell their 48 percent stake in Turkey-based ICT services provider Netas Telekomunikasyon to China-based telecommunications and IT equipment manufacturer ZTE International for US$101 million, plus performance earnouts. One Equity Partners originally invested in the company in 2010 through OEP Turkey Tech, a vehicle advised by TRPE Capital since… Read More
Algebra Ventures Fund I Reaches First Close with US$40 Million in Capital Commitments (MENA)
MENA-focused venture capital firm Algebra Ventures has reached a first close for its new technology venture capital fund with US$40 million in capital commitments. Investors in the fund include Cisco’s corporate investment arm Cisco Investments and the Egyptian-American Enterprise Fund, an investment fund backed by the United States government, as well as development finance institutions European Bank for Reconstruction and… Read More
CGN Capital Partners Infrastructure Fund III Reaches Third Close with US$478M in Commitments (Asia)
CGN Private Equity Fund Management Company has reached a third close for CGN Capital Partners Infrastructure Fund III with CNY3.3 billion (approximately US$478 million) in commitments. Investors in the fund include Industrial and Commercial Bank of China, Agricultural Bank of China, Post Savings Bank of China, China Cinda Asset Management, China Huarong Asset Management and People’s Insurance Company of China.… Read More
Amandi Energy Secures US$552 Million in Financing for Ghana Power Project (Sub-Saharan Africa)
Amandi Energy, a project development platform backed by Endeavor Energy and Aldwych International, has arranged US$552 million in financing for the construction of a 200 megawatt combined-cycle, dual-fuel power plant in Ghana. Endeavor and Aldwych are in turn backed by energy and infrastructure-focused private equity firms Denham Capital and Harith General Partners, respectively. The financing package includes US$134 million in… Read More
Warburg Pincus Closes China Fund with US$2 Billion in Capital Commitments (Asia)
Global private equity firm Warburg Pincus has reached a final close for Warburg Pincus China with US$2 billion in capital commitments. Investors in the fund include public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and high-net worth individuals. The Washington State Investment Board reportedly committed US$200 million to the fund, which also received commitments of US$100… Read More