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Gulf Capital Closes Its Third Private Equity Fund at US$750 Million, Invests US$25 Million in Amak Group (MENA)
Middle East-focused alternative asset manager Gulf Capital has closed its third private equity fund, GC Equity Partners Fund III, with US$750 million in commitments. Investors in the fund, which was oversubscribed, include sovereign wealth funds, pension funds, endowments, funds of funds, insurance companies, family offices and other institutional investors. Fund III will make control-oriented investments primarily in Gulf Cooperation Council… Read More
Ouro Fino Raises US$172 Million in IPO, Receives Investment from General Atlantic (Latin America)
Brazil-based veterinary products maker Ouro Fino Saúde Animal Participações raised BRL418 million (approximately US$172 million) via an initial public offering (IPO) on 17 October, through which global growth equity investment firm General Atlantic acquired shares worth BRL200 million (approximately US$81 million) in the company, representing a 14.26 percent stake. The IPO, Brazil’s first of 2014, consisted of a primary offering… Read More
Bain Capital Buys an 80 Percent Stake in Lionbridge Financial Leasing (Asia)
Alternative investment firm Bain Capital has acquired an 80 percent stake in China-based financial leasing company Lionbridge Financial Leasing for a reported RMB1 billion (approximately US$164 million). The company provides leasing services, lease-back services and leasing asset management in four industry verticals: heavy duty vehicles, medical equipment, manufacturing equipment and agriculture equipment. Read More
Navis Capital Agrees to Sell Trio Engineered Products to Weir Group for US$220 Million (Asia)
Southeast Asia-focused private equity firm Navis Capital Partners has agreed to sell China-based Trio Engineered Products to London Stock Exchange-listed engineering company Weir Group for an enterprise value of US$220 million. Trio is a global provider of crushing, screening, washing and conveying equipment to the mining, recycling and mineral industries. The transaction is subject to certain closing conditions and is… Read More
CDH to Realize US$1.6 Billion from WH Group Through a Share Pledge (Asia)
China-focused private equity and venture capital firm CDH Investments will return capital to its limited partners by pledging shares in China-based pork producer WH Group worth an estimated HKD12.6 billion (approximately US$1.6 billion). CDH, which is still bound by a 12-month lock-up dating from WH Group's Hong Kong IPO in August, has agreed to mortgage 2.1 billion shares of China-based… Read More
AfricInvest Group Holds a First Close for AfricInvest Fund III (Sub-Saharan Africa)
AfricInvest Group, a private equity firm focused on North and Sub-Saharan Africa, has held a first close for AfricInvest Fund III (AF III) with more than EUR154 million (approximately US$195 million) in capital commitments. Investors in the fund include development finance institutions Netherlands Development Finance Company (FMO), CDC Group, International Finance Corporation, DEG, Finnfund, PROPARCO, Swedfund and SIFEM, as well… Read More
Abris Capital Partners to Acquire a Majority Stake in AAA Auto Group for EUR220 Million (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to acquire a 95 percent stake in Czech Republic-based used car dealer AAA Auto Group for EUR220 million (approximately US$279 million). The transaction, which has been cleared by the Czech Antimonopoly Office, is subject to the approval of anti-monopoly authorities in Slovakia, Russia and Ukraine. AAA Auto… Read More
Baring Private Equity Asia Reaches a US$3.2 Billion First Close for Fund VI (Asia)
Asia-focused private equity firm Baring Private Equity Asia has reached a US$3.2 billion first close for its latest pan-Asia fund, Baring Private Equity Asia Fund VI. Investors in the fund, which reportedly has a hard cap of US$3.85 billion, include Pennsylvania Public School Employees' Retirement System, San Francisco City & County Employees' Retirement System and Arizona Public Safety Personnel Retirement… Read More
IDFC Alternatives’ Second India Infrastructure Fund Reaches a Final Close at US$900 Million (Asia)
IDFC Alternatives, the alternative asset management arm of India-focused infrastructure financing company IDFC, has reached the final close for India Infrastructure Fund II (IIF II) at its hard cap of INR55 billion (approximately US$900 million). The fund received commitments of US$90 million from IDFC and US$810 million from third-party limited partners, including global institutional investors from North America, Europe and… Read More
CDH Investments to Acquire Nanfu Battery from Procter & Gamble (Asia)
China-focused private equity and venture capital firm CDH Investments has agreed to acquire a 79 percent stake in China-based alkaline battery manufacturer Fujian Nanping Nanfu Battery from global consumer goods company Procter & Gamble in a transaction reportedly worth US$1 billion. Nanfu Battery sells its products under the Excell, Nanfu and Ecoenergy brands. The transaction is expected to be completed… Read More
LeapFrog Investments Sells Its Stake in Kenya-based Insurance Group Apollo to Swiss Re (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments has sold its minority stake in Kenya-based insurance group Apollo Investments to Swiss Re, a global wholesale provider of reinsurance. Apollo, through its wholly-owned insurance subsidiary APA, provides a broad array of insurance solutions across Kenya, Uganda and Tanzania. Financial details of the transaction were not disclosed. Read More
The Abraaj Group Invests in South Africa-based Food and Personal Care Manufacturer Liberty Star Consumer Holdings (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has acquired a majority stake in South Africa-based food and personal care manufacturer Liberty Star Consumer Holdings (Libstar) from existing shareholders including Metier, Old Mutual Private Equity, Development Partners International and Lereko. Libstar manufactures a broad range of products for the South African food, fast-casual dining, household and personal care markets. Financial details… Read More