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Denham Capital and GreenWish Partners Form a Partnership to Finance Renewables (Sub-Saharan Africa)
Energy-focused private equity firm Denham Capital has agreed to partner with Sub-Saharan Africa-focused renewable energy investment company GreenWish Partners to develop, build and finance a portfolio of 600 megawatts of renewable energy assets across Sub-Saharan Africa by 2020. The capital commitment will allow the new African renewables platform to carry out a US$1 billion project pipeline. Financial details of the… Read More
Northern Light Venture Capital and New Horizon Capital Lead a US$100 Million Round for Beibei (Asia)
China-focused venture capital firm Northern Light Venture Capital and private equity firm New Horizon Capital have led a US$100 million financing round for China-based maternal and infant products e-commerce platform Beibei. Venture capital firm Banyan Capital and private equity firm Capital Today also participated in the round. Beibei will use the new financing to develop its own supply chains, improve… Read More
Mid Europa Partners Agrees to Increase Its Stake in Waberer’s International (CEE and CIS)
Mid Europa Partners, a private equity firm focused on Central and Eastern Europe and Turkey, has agreed to increase its stake in Hungary-based road freight transportation company Waberer's International from 56.8 percent to 97.1 percent. Mid Europa originally invested in Waberer’s in 2011. Financial details of the transaction, which is subject to anti-trust clearance, were not disclosed. Read More
Emerging Investment Partners Acquires General Cable Egypt (MENA)
MENA-focused private equity firm Emerging Investment Partners (EIP) has acquired General Cable Egypt (GC Egypt), the Egypt-based subsidiary of the United States-listed cable producer General Cable USA. With EIP’s support, GC Egypt intends to expand its market share in Egypt, as well as more broadly in the Middle East and Africa. Financial details of the transaction were not disclosed. Read More
NewMargin Ventures Leads a CNY70 Million Series A Round for Flower Plus (Asia)
China-focused venture capital firm NewMargin Ventures has led a CNY70 million (approximately US$10.7 million) Series A financing round for China-based flower delivery platform Flower Plus. Other participants in the round included China-focused fund managers Guanghe Venture, Telescope Investment and Harmony Invest. Flower Plus plans to use the new capital to grow its user base and improve its logistics system. Read More
Northgate Capital & Alta Growth Capital Invest MXN530m in Grupo Estancias Extendidas (Latin America)
Global private equity fund manager Northgate Capital has led an MXN530 million (approximately US$28.4 million) investment in Mexico-based hotel developer and operator Grupo Estancias Extendidas (Extended Suites) with participation from Mexico-focused private equity firm Alta Growth Capital. The company will use the capital to boost its expansion plan of adding more than 40 new properties in the next five years.… Read More
NewQuest Asia Fund III Reaches a US$540.5 Million Final Close (Asia)
Direct secondaries fund manager NewQuest Capital Partners has reached a final close for its latest fund, NewQuest Asia Fund III, with US$540.5 million in capital commitments, exceeding its original US$500 million target. Investors in the fund included pension funds, sovereign wealth funds, insurers and financial institutions in Asia, North America, Europe and the Middle East. The fund will invest in… Read More
Private Equity-backed L’azurde Completes an IPO (MENA)
Saudi Arabia-based jewelry manufacturer L’azurde Company for Jewelry, which is owned by a consortium of private equity firms comprising Investcorp, Eastgate Capital Group and The National Investor, has completed an initial public offering (IPO). The company raised SAR419.7 million (approximately US$111.9 million) in the retail tranche offering, which accounted for 30 percent of shares on offer, selling 11.3 million shares… Read More
Spring 2016 Legal & Regulatory Bulletin
In this Bulletin we address a number of commercial, governance, legal and regulatory issues, which we believe are both timely and of broad interest to the emerging market private equity, venture capital, and infrastructure investment community. We are certain that some of the topics covered will be discussed—vociferously perhaps—at the IFC’s 18th Annual Global Private Equity Conference (GPEC) in association… Read More
Ethos Private Equity to Exit Brandcorp Holdings to The Bidvest Group (Sub-Saharan Africa)
South Africa-focused private equity fund manager Ethos Private Equity has agreed to sell South Africa-based consumer and industrial products distributor Brandcorp Holdings to Johannesburg Stock Exchange-listed conglomerate The Bidvest Group. Ethos Private Equity originally acquired Brandcorp in 2007 through Ethos Fund V. Financial details of the transaction, which is subject to the fulfillment of certain conditions, were not disclosed. Read More
Grupo Hotelero Santa Fe Completes a Follow-on Primary Public Offering (Latin America)
Grupo Hotelero Santa Fe, a Mexico-based hotel operating platform backed by private equity firm Nexxus Capital, has raised MXN1.83 billion (approximately US$98.3 million) in a follow-on primary public offering. The offering took place through a modified Dutch auction on the Mexican Stock Exchange and Chile and Peru under the regulatory terms of the Mercado Integrado Latinoamericano. Nexxus originally invested in… Read More
Lok Fund III Reaches a US$40.5 Million First Close (Asia)
India-focused impact investment firm Lok Capital has reached a first close for its third fund, Lok Fund III, with US$40.5 million in capital commitments. Investors in the fund included development finance institutions CDC, FMO and Proparco, as well as investment advisor TIAA Global Asset Management. Lok Fund III, which has a target of around US$100 million, will focus on growth-stage… Read More