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TPG Acquires Actis’s Stake in Asiri Hospital Holding; Acquires Stake in Distillery Company (Asia)
Global private investment firm TPG has acquired a 28 percent stake in Colombo Stock Exchange-listed private healthcare business Asiri Hospital Holding from pan-emerging markets private equity firm Actis. The transaction, which was structured through TPG Growth III, was valued at LKR7.6 billion (approximately US$52 million). Actis originally invested in Asiri in 2012. Separately, TPG has acquired a 50 percent stake… Read More
Nexus Ventures IV Reaches a Final Close with More Than US$450 Million in Capital Commitments (Asia)
India-focused venture capital firm Nexus Venture Partners has reached a final close on its fourth fund, Nexus Ventures IV, with more than US$450 million in capital commitments. Investors in the fund include endowments, foundations and financial institutions from North America, Europe and Asia. The fund will focus on seed and early-stage companies in the consumer retail, financial services, healthcare and… Read More
Morgan Stanley Private Equity Asia to Sell Its Stake in Sino Gas International (Asia)
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) has agreed to sell its 38.7 percent stake in China-based natural gas distributor Sino Gas International to existing shareholder Hong Kong-listed gas service operator Zhongyu Gas for US$78.7 million. The transaction, which will be structured through Morgan Stanley Private Equity Asia IV, is subject to regulatory approval and scheduled to… Read More
Ethos Private Equity Exits Transaction Capital (Sub-Saharan Africa)
South Africa-focused private equity fund manager Ethos Private Equity has sold its entire 7.7 percent stake in Johannesburg Stock Exchange-listed financial services group Transaction Capital via a book build managed by Rand Merchant Bank for ZAR490 million (approximately US$34 million). The transaction was structured through Ethos Private Equity Fund V. Ethos had been invested in Transaction Capital, which operates both… Read More
CrossBoundary Energy Fund I Reaches a US$8 Million First Close (Sub-Saharan Africa)
Investment and economic advisory firm CrossBoundary has reached a first close on CrossBoundary Energy Fund I with US$8 million in capital commitments. The fund, which plans to invest in Africa-based businesses in the commercial and industrial solar sector, also announced its first investment in a Kenya-based 858 kWp solar installation project. Investors in the first close included family offices Blue… Read More
Linzor Capital Partners to Buy General Electric’s Mexican Equipment Business (Latin America)
Latin America-focused private equity firm Linzor Capital Partners has agreed to acquire the Mexico-based equipment lending and leasing business of multinational conglomerate General Electric. The transaction includes over US$1.1 billion in assets. Financial details of the transaction, which is subject to regulatory approval and expected to close in the first quarter of 2016, were not disclosed. Read More
Golden Gate Ventures Invests in Vietnam-based Lozi (Asia)
Southeast Asia-focused early-stage venture capital firm Golden Gate Ventures and Japan-based internet media firm DesignOne Japan have invested in Lozi, a Vietnam-based food ordering company. The company plans to use the new funds to grow the number of its website and mobile app users and to develop technology that will connect restaurants to users. Financial details of the transaction were… Read More
Novastar Ventures East Africa Fund I Reaches a Final Close (Sub-Saharan Africa)
East Africa-focused venture capital firm Novastar Ventures has reached a final close on Novastar Ventures East Africa Fund I with US$80 million in capital commitments. Investors in the fund included development finance institutions CDC, FMO, Norfund and European Investment Bank. Multinational bank JP Morgan, global multi-asset investor AXA Investment Management and Netherlands-based lender Triodos Bank also committed to the fund.… Read More
Clearwater Capital Partners Partially Exits Jamna Auto (Asia)
Clearwater Capital Partners, an investment firm focused on credit and special situations in Asia, has exited a 16.5 percent stake in India-based auto component maker Jamna Auto Industries. Clearwater Capital Partners returned INR770 million (approximately US$11.5 million) in open market transactions on the Bombay Stock Exchange and the National Stock Exchange on 7 December 2015. Clearwater Capital Partners, which held… Read More
Actis Invests in Food Lover’s Market (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based food retailer Food Lover’s Market for ZAR760 million (approximately US$54 million). The company owns more than 120 stores across 11 countries in Africa. Food Lover’s Market intends to use the funding to continue its growth both in South Africa and in other Sub-Saharan African countries. Read More
ChrysCapital Acquires Sequoia Capital’s Stake in GVK Biosciences for US$25 Million (Asia)
India-focused private equity firm ChrysCapital has acquired a ten percent stake in India-based contract research and discovery services company GVK Biosciences from Sequoia Capital for US$25 million. ChrysCapital has also reportedly committed additional funds to back GVK Biosciences’ plans to grow through acquisitions. The transaction, which recently received Foreign Investment Promotion Board approval, valued the company at US$250 million. Read More
Enterprise Investors Partially Exits Kofola via IPO (CEE and CIS)
Czech Republic-based soft drink producer Kofola, which is backed by Central and Eastern Europe-focused private equity and venture capital firm Enterprise Investors, has raised CZK11.37 billion (approximately US$446 million) in an initial public offering (IPO) on the Prague Stock Exchange. Enterprise Investors’ Polish Enterprise Fund VI, which originally invested in Kofola in 2008, sold a six percent stake for EUR23… Read More