GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Warburg Pincus Acquires Stake in Cinema Operator PVR From Multiples Alternate Asset Management(Asia)
Global private equity firm Warburg Pincus has acquired a 14 percent stake in National Stock Exchange- and Bombay Stock Exchange-listed cinema multiplex operator PVR for approximately INR8.2 billion (approximately US$120 million). Warburg Pincus acquired the stake from affiliates of India-focused private equity firm Multiples Alternate Asset Management (Multiples PE) and the company’s promoters. Multiples PE will retain a 14 percent… Read More
Nexus Venture Partners Leads US$5 Million Series A Round for Zolo (Asia)
India-focused venture capital firm Nexus Venture Partners has led a Series A round of US$5 million for India-based managed accommodations platform Zolo. The funding round also included venture debt from Asia-focused venture lending firm InnoVen Capital. Zolo plans to use the funds to increase its number of beds under management and expand its geographic presence in India to Chennai and… Read More
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