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The Abraaj Group Exits Its Stake in ECCO Outsourcing (MENA)
Global growth markets investor The Abraaj Group has exited its investment in Egypt-based business process outsourcing and contact center outsourcing company ECCO Outsourcing through a strategic sale to Saham Services, a subsidiary of Morocco-based conglomerate Saham Group. Abraaj initially invested in ECCO in 2013. Financial details of the transaction were not disclosed. Read More
Baring Private Equity Asia to Buy a Majority Stake in CMS Info Systems (Asia)
Asia-focused private equity firm Baring Private Equity Asia has agreed to purchase a 57 percent stake in India-based cash management company CMS Info Systems for US$250 million from global investment and advisory firm The Blackstone Group. CMS provides ATM-related cash management services, including cash delivery and pick-ups and in-transit services. Blackstone previously invested a reported US$65 million for a majority… Read More
The Carlyle Group Reaches a Final Close for Its Second Brazil-focused Fund (Latin America)
Global alternative asset manager The Carlyle Group, in partnership with Brazil-based bank Banco do Brasil, has reached a final close for its Brazil-focused buyout fund Fundo Brasil de Internacionalização de Empresas II with BRL700 million (approximately US$225 million) in capital commitments. The fund was raised primarily from Brazil-based institutions and local pension funds. Read More
NBK Capital Partners Exits Dem Pharmaceutical (CEE and CIS)
NBK Capital Partners, a firm focused on private equity and mezzanine investments in the Middle East and North Africa, has completed the realization of its mezzanine investment in Turkey-based pharmaceuticals company Dem Pharmaceutical. The transaction was structured through NBK Capital Mezzanine Fund I. NBK Capital initially invested in Dem Pharmaceutical in 2012. Financial details of the exit were not disclosed. Read More
Matrix Partners China & Morningside Technologies Participate in a Series C Round for Lamabang (Asia)
China-based parenting e-commerce website Lamabang has raised US$100 million in a Series C round of funding led by China-based online retailer Vipshop, with participation from venture capital firms Matrix Partners China and Morningside Technologies and asset management firm Greenwoods Asset Management. Lamabang raised US$20 million in Series B funding led by Greenwoods in July 2014, in a round that also… Read More
DLM Invista to Acquire a Minority Stake in Navita (Latin America)
Brazil-focused private equity firm DLM Invista has agreed to purchase a minority stake in Brazil-based enterprise mobility solutions provider Navita. Navita previously received funding from venture capital firms Invest Tech and Intel Capital in 2009 and 2014, respectively. Financial details of the transaction were not disclosed. Read More
Enko Capital Managers Acquires a Minority Stake in Madison Financial Services (Sub-Saharan Africa)
Enko Capital Managers, an Africa-focused asset management firm, has acquired a minority stake in Madison Financial Services, a Zambia-based insurance and financial services company. The transaction was structured through Enko Africa Private Equity Fund. Financial details of the transaction were not disclosed. Read More
Metier Capital Growth Fund II Reaches a First Close (Sub-Saharan Africa)
Metier, a private equity and alternative asset firm, has completed a first close for Metier Capital Growth Fund II with an undisclosed amount of committed capital. Investors included South African institutional investors, as well as development finance institutions FMO and DEG. The fund will target mid-cap growth investment opportunities in Sub-Saharan Africa in sectors including transport and logistics, retail, health and… Read More
JD Capital-backed Well Lead Medical Completes an IPO (Asia)
China-based medical device manufacturer Well Lead Medical, backed by China-focused investment firm JD Capital, has completed an initial public offering (IPO) on the Shanghai Stock Exchange, raising RMB385 million (approximately US$61 million) by issuing 25 million new shares at RMB15.4 (US$2.5) apiece. JD Capital, which invested an undisclosed amount in the company in 2011, saw its eight percent stake diluted… Read More
CIMB Group and Mitsubishi Reach a First Close for ASEAN Industrial Growth Fund (Asia)
Malaysia-based financial services group CIMB Group and Japan-based conglomerate Mitsubishi have held a first close for their joint fund ASEAN Industrial Growth Fund (AIGF) with US$130 million in capital commitments. Investors in the first close included Development Bank of Japan, Japan-based conglomerate Hitachi, steel manufacturer Yamato Kogyo and financial institutions The Toho Bank and Shinsei Bank. AIGF, which was launched… Read More
Tribeca Asset Management Exits Bogota CargoCity for US$56.5 Million (Latin America)
Latin America-focused private equity fund manager Tribeca Asset Management has fully exited Colombia-based Operador del Terminal de Carga Aeropuerto Internacional El Dorado, operator of Bogota CargoCity, the air cargo terminal at Bogota’s El Dorado International Airport. The investment returned US$56.5 million, resulting in a reported IRR of 22.9 percent and a cash multiple of 1.8x. Tribeca initially invested in the… Read More
The Abraaj Group, EBRD, DEG and Proparco Form the North Africa Hospital Holdings Group (MENA)
Global growth markets investor The Abraaj Group, along with development finance institutions European Bank for Reconstruction and Development (EBRD), DEG and Proparco, has formed the North Africa Hospital Holdings Group (NAHHG), an Egypt- and Tunisia-focused healthcare investment platform. Abraaj contributed US$145 million to the platform, EBRD contributed US$25 million and DEG and Proparco each contributed US$15 million. NAHHG currently encompasses… Read More