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NBK Capital Acquires a Majority Stake in Sistem-9 Medya (CEE and CIS)
NBK Capital’s Alternative Investments Group, a private equity and mezzanine fund manager in the Middle East and North Africa, has acquired a 51 percent stake in Turkey-based digital signage company Sistem-9 Medya. The transaction was structured through NBK Capital Equity Partners Fund II. Financial details of the transaction were not disclosed. Read More
TPG Capital to Sell Stake in China Grand Automotive Services to an Investor Group for US$700 Million (Asia)
TPG Capital, the principal investment platform of global private investment firm TPG, has agreed to sell its entire stake in China-based car dealer China Grand Automotive Services (CGA) to a group of investors, led by Chinese financial services company Haitong International Securities Group, for approximately US$700 million. Haitong International will buy 40 percent of TPG’s stake in the company, with… Read More
Middle East Venture Partners and DASH Ventures Invest in Altibbi (MENA)
MENA-focused venture capital firm Middle East Venture Partners and seed investor DASH Ventures have participated in a financing round for United Arab Emirates-based Altibbi, an Arabic language online medical platform. Altibbi intends to use the capital to accelerate revenue growth and expand the reach of its brand. Financial details of the transaction were not disclosed. Read More
Aavishkaar Announces Exit from Net Systems (Asia)
Aavishkaar, an India-focused early-stage investor, has exited its investment in India-based Net Systems to the company’s promoters, generating a reported cash-on-cash return multiple of approximately 3x. Net Systems, which operates under the BarrierBreak brand, specializes in accessibility testing and conversion and assistive technology products for people with disabilities. Aavishkaar first invested in Net Systems in 2005 through its Aavishkaar India… Read More
Goldman Sachs Leads US$36 Million Round for Food-ordering Platform Woowa Brothers (Asia)
A group of investors led by global banking, securities and investment management group Goldman Sachs has invested KRW40 billion (approximately US$36 million) in a Series D funding round for South Korea-based Woowa Brothers, which owns and operates the digital food-ordering platform Baedal Minjok. The company will use the new funds to upgrade its technology, improve customer experience and expand overseas.… Read More
DPI, AfricInvest, DEG, FMO and Proparco to Exit Their Investment in Mansard (Sub-Saharan Africa)
Funds managed by pan-African private equity firms Development Partners International (DPI) and AfricInvest Group, as well as European development finance institutions DEG, FMO and Proparco, have agreed to sell 100 percent of Assur Africa Holding (AAH) to global financial services company AXA Group for EUR198 million (approximately US$247 million). AAH holds a 77 percent interest in Mansard Insurance, a Nigeria-based… Read More
CITIC Capital Partners Completes Acquisition of Study & Share Education Company (Asia)
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings, has acquired a controlling stake in China-based Study & Share Education Company, a provider of test preparation and vocational training for obtaining professional certificates in the construction industry. Study & Share operates more than 40 learning and student recruitment centers across China. Financial details of the transaction, which was… Read More
ThomasLloyd to Build Three New Solar Power Stations in the Philippines (Asia)
Global investment banking and investment management group ThomasLloyd has contracted three new solar power stations in the Philippines. The transaction was structured through ThomasLloyd’s Cleantech Infrastructure Fund. The plants, due to reach completion in June 2015, will have a generating capacity of 41MW. Financial details of the transaction were not disclosed. Read More
The Carlyle Group and Old Mutual Private Equity to Acquire 100 Percent of Tiger Automotive (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group and South-Africa focused private equity fund manager Old Mutual Private Equity have agreed to acquire 100 percent of South Africa-based tire retailer and wholesaler Tiger Automotive from Ethos Private Equity and the company’s founders for a reported ZAR2 billion (approximately US$182 million). Funding for the investment will come from the Carlyle Sub-Saharan Africa… Read More
The Carlyle Group Invests US$147 Million in Diamond Bank (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has invested US$147 million in Nigeria-listed commercial bank Diamond Bank. The transaction, which came as part of Diamond Bank’s recently completed US$305 million rights issue, was structured through Carlyle’s Sub-Saharan Africa Fund. Proceeds will be used for the development of the bank’s IT infrastructure, for working capital support and for the expansion and… Read More
SAIF Partners Invests in Qikwell and PropTiger, Partially Exits Just Dial (Asia)
Asia-focused multi-stage investment firm SAIF Partners has invested US$3 million in India-based online doctor appointment platform Qikwell Technologies’ Series A funding round, and participated in a US$37 million round for Elara Technologies, operator of India-focused real estate marketing platform PropTiger.com. Global media group News Corp invested US$30 million in Elara, with SAIF Partners and venture capital firms Accel Partners and… Read More
Darby Private Equity Invests in Storent Holding (CEE and CIS)
Darby Private Equity, the private equity arm of Franklin Templeton Investments, has acquired a majority interest in Latvia-based construction and industrial equipment rental company Storent Holding. Darby’s investment will be used by Storent, which currently operates 23 rental depots across Latvia, Lithuania and Estonia, to develop its equipment fleet and increase market share in its core Baltic markets. Financial details… Read More