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GP Investments and GTIS Partners Conclude US$400 Million Brazil Hospitality Group (Latin America)
GTIS Partners, a real estate private equity firm, and GP Investments, an alternative investments firm in Latin America, have concluded a US$400 million take-private of Brazil-listed hotel operator Brazil Hospitality Group (BHG). The deal gave GTIS Partners an approximately 70 percent stake in the newly-private company, with the remainder of the shares owned by GP Investments. BHG owns and operates… Read More
Warburg Pincus Completes a Follow-on Investment in Mofang Gongyu (Asia)
Global private equity firm Warburg Pincus has completed a follow-on investment in China-based apartment developer Mofang Gongyu, committing nearly US$200 million across two rounds of funding. Warburg Pincus originally invested US$60 million in Mofang in a Series B financing round in 2013. Mofang intends to open 100 buildings through a franchising model this year, providing community facilities and services for young… Read More
Vinci Partners Fully Exits Equatorial Energia for BRL700 Million (Latin America)
Brazil-focused alternative investment and asset management firm Vinci Partners has sold its remaining 10.5 percent stake in Brazil-listed energy holding company Equatorial Energia for BRL700 million (approximately US$231 million). Vinci had previously exited a ten percent stake in the company in February 2015. Read More
Piton Capital and Vostok Nafta Investment Lead a US$6.5 Million Round for Naseeb Networks (MENA)
International investment companies Piton Capital and Vostok Nafta Investment have led a US$6.5 million Series C round for Naseeb Networks, a Pakistan-based operator of online employment marketplaces with a focus on emerging markets. The company will use the new funding to accelerate its growth in target markets. Read More
NYLIM Jacob Ballas India Partially Exits PNC Infratech via IPO (Asia)
NYLIM Jacob Ballas India, a vehicle co-owned by New York Life Insurance Company and private equity advisory firm Jacob Ballas Capital India, has partially exited its stake in India-based infrastructure construction company PNC Infratech via an initial public offering (IPO) on the Bombay Stock Exchange and National Stock Exchange. Jacob Ballas sold 1.4 million shares at an issue price of… Read More
Standard Chartered Private Equity Invests US$42 Million in Omni Centre (Asia)
Standard Chartered Private Equity (SCPE), the private equity arm of Standard Chartered Bank, has invested US$42 million to acquire a 45 percent stake in Indonesia-based Omni Centre, a newly formed retail electronics joint venture with investment manager TT International. SCPE’s capital injection will help finance the joint venture’s consumer electronic retail stores and online expansion across Southeast Asia. Read More
Pembani Remgro Infrastructure Fund Reaches a US$245 Million First Close (Sub-Saharan Africa)
Pembani Remgro Infrastructure Fund—a joint initiative established by investment holding company Remgro and Pembani Group chairman Phuthuma Nhleko—has reached a first close with US$245 million in capital commitments. In addition, the fund has received a further commitment equal to 20 percent of the fund size, capped at US$100 million, from the Overseas Private Investment Corporation, a development finance institution. The… Read More
IFC and AMC Support the Expansion of China Tian Lun Gas with a US$150 Million Investment (Asia)
International Finance Corporation (IFC), a member of the World Bank Group, and IFC Asset Management Company (AMC), a wholly-owned subsidiary of IFC, have each invested US$75 million in Hong Kong-listed gas supplier China Tian Lun Gas Holdings, for a total investment of US$150 million. AMC’s transaction was structured through its IFC Global Infrastructure Fund. Tian Lun Gas intends to use… Read More
KKR Completes US$400 Million Investment in Fujian Sunner Development (Asia)
Global investment firm KKR has completed a US$400 million investment in China-listed chicken meat producer Fujian Sunner Development, acquiring an 18 percent stake in the company. Since the investment was first announced in August 2014, Sunner reports that it has been selected as one of the five local‐market direct suppliers—and the only Chinese supplier—of chicken meat to McDonald’s. Through the… Read More
Tribeca Fully Exits Termocandelaria Power (Latin America)
Colombia-focused private equity fund manager Tribeca has fully exited its stake in Termocandelaria Power (TPL), a Colombia-based thermal energy generation company. Tribeca initially invested in TPL in 2009 and 2010, and held a 60.8 percent stake in the company. The firm’s exit resulted in a reported cash multiple of 2.2x and an annual IRR of 17%. Financial details of the… Read More
Yunfeng Capital and Dalian Wanda Lead an RMB800 Million Financing Round for Letv Sports (Asia)
China-based online video company Leshi Internet Information & Technology’s sports affiliate, Letv Sports Culture Develop, has raised RMB800 million (approximately US$131 million) from China-focused private equity firm Yunfeng Capital, China-based conglomerate Dalian Wanda Group and other undisclosed investors. The round valued Letv Sports at RMB2.8 billion (approximately US$458 million). Letv Sports plans to use the capital injection to purchase more… Read More
Linzor Capital Partners Closes Its Third Fund with US$621 Million in Commitments (Latin America)
Latin America-focused asset management firm Linzor Capital Partners has closed its third fund, Linzor Capital Partners III (LCP III), with US$621 million in capital commitments, reaching the fund’s hard cap. Investors included pension plans, asset managers, insurance companies, sovereign wealth funds, endowments, foundations and family offices. Approximately 40 percent of the capital was raised from United States-based investors, 33 percent… Read More