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Spruce Capital Partners and Xeraya Capital Hold a First Close on MLS Capital II (Asia)
Private investment firms Spruce Capital Partners and Xeraya Capital announced the first close of MLS Capital Fund II with US$150 million in capital commitments. Investors in the fund included both institutional and global corporate investors. MLS Capital Fund II is co-managed by Spruce Capital Partners and Xeraya Capital, and will target companies at all stages of development in sectors such… Read More
Actis Invests in Egypt-based Integrated Diagnostics Holdings and Brazil-based Genesis Group (MENA)
Pan-emerging markets private equity firm Actis has acquired a 21 percent stake in Egypt-based Integrated Diagnostics Holdings, a private sector healthcare diagnostics service provider. Global growth markets investor The Abraaj Group partially exited through the transaction. The company intends to accelerate its growth and offer new and complementary services to its customers. Separately, Actis has acquired a stake in Brazil-based… Read More
Aqua Capital Acquires and Merges Comfrio Soluções Logísticas & Stock Tech Logística (Latin America)
Aqua Capital, a private equity fund focused on mid-sized agribusiness, food and logistics companies in Brazil and the southernmost areas of South America, has completed the merger of two Brazil-based cold storage logistics companies: Comfrio Soluções Logísticas and Stock Tech Logística. After owning a co-controlling stake in Comfrio for three years, Aqua acquired the remaining equity as well as 100… Read More
Canbank Venture Capital Fund Invests INR160 Million in Anand Teknow Aids Engineering India (Asia)
Canbank Venture Capital Fund, a wholly-owned venture capital subsidiary of Canara Bank, has acquired a five percent stake in India-based Anand Teknow Aids Engineering India, a provider of engineering products for the oil and gas industry, for INR160 million (approximately US$2.5 million). The transaction was structured through Canbank’s Emerging India Growth Fund. The company intends to use the capital to… Read More
CDH Investments to Exit CNinsure for US$54 Million (Asia)
China-focused private equity and venture capital firm CDH Investments has agreed to sell back its shares in NASDAQ-listed CNinsure, a China-based insurance intermediary company and online insurance service provider, to certain members of the company’s management. CNinsure’s management will purchase 7.7 million shares at a price of US$7 per share, totaling US$54 million. Upon completion of the transaction, the management’s… Read More
Growthgate Capital Exits Able Logistics for US$32 Million (MENA)
Middle market-focused buyout investor Growthgate Capital has exited its investment in United Arab Emirates-based logistics provider Able Logistics Group by selling its 70 percent stake to Kerry Freight Services (South Asia) for US$32 million. Kerry Freight Services is a wholly owned subsidiary of Hong Kong-listed logistics provider Kerry Logistics Network. Taking into account this transaction and prior dividends, Growthgate has… Read More
PineBridge Investments to Buy Malpka Express (CEE and CIS)
Poland-based retail group Czerwona Torebka has agreed to sell its convenience store chain Malpka Express to principal investment firm PineBridge Investments for PLN362 million (approximately US$108 million). Instead of a cash payment, PineBridge will transfer all of its current shares in Czerwona—in which it holds a 16 percent stake—back to the retail group as the first installment. The remaining amount… Read More
AFIG’s Atlantic Coast Regional Fund Agrees to Invest in Nigerian-German Chemicals (Sub-Saharan)
Private equity fund management company Advanced Finance and Investment Group (AFIG) has agreed to invest up to US$14 million in Nigeria-based producer and distributor of pharmaceutical products and bottled beverages Nigerian-German Chemicals (NGC). The transaction will be structured through Atlantic Coast Regional Fund. NGC intends to use the capital to complete new production facilities, add an intravenous fluids plant and… Read More
The Carlyle Group Agrees to Acquire General Electric’s Stake in AsiaSat (Asia)
Global alternative asset manager The Carlyle Group has agreed to purchase multinational conglomerate General Electric’s stake in holding company Bowenvale, which holds a 74 percent stake in Hong Kong-listed Asia Satellite Telecommunications Holdings (AsiaSat), for as much as HKD3.75 billion (approximately US$483 million). AsiaSat is a commercial operator of communication spacecrafts. Carlyle will then offer to acquire all outstanding shares… Read More
Clearwater, Spinnaker and Ashmore Agree to Sell Pacnet to Telstra for US$697 Million (Asia)
Credit and special situations investment firm Clearwater Capital Partners, emerging markets investment manager Spinnaker Capital Group and emerging markets fund manager Ashmore Investment Management have agreed to sell Hong Kong- and Singapore-based undersea cable provider Pacnet to Australia-based telecommunications company Telstra for US$697 million, including US$400 million in debt. The transaction is subject to regulatory approval and is expected to… Read More
Morgan Stanley Private Equity Asia and Sihuan Pharmaceuticals Invest in Two Hospitals (Asia)
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) and China-based Sihuan Pharmaceuticals, one of MSPEA’s portfolio companies, along with Sihuan’s chairman, have together agreed to invest RMB1.2 billion (approximately US$200 million) in two China-based hospitals: HY Hospital in Huai’an and JB Hospital in Nanjing. The investments are being made through a joint venture in which MSPEA and a… Read More
LeapFrog Investments and Lombard Investments Acquire a 22% Stake in Syn Mun Kong Insurance (Asia)
Emerging markets financial services investor LeapFrog Investments and private equity investment manager Lombard Investments have acquired an aggregate 22 percent stake in Thailand-listed general insurer Syn Mun Kong Insurance (SMK) from United Kingdom-based insurance group Royal & Sun Alliance Insurance for THB1.89 billion (approximately US$57.5 million). LeapFrog and Lombard each acquired an 11 percent stake. SMK operates an automotive insurance… Read More