GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Goldman-led Group Buys a Stake in Daesung Industrial Gases for US$400 Million; Goldman, ADB and GEF Invest US$140 Million in ReNew Power (Asia)
A consortium led by the private equity arm of Goldman Sachs is buying about a 68 percent stake in South Korea-based industrial gas business Daesung Industrial Gases for US$400 million. Other investors include Lee Min-Joo, former chairman of cable TV provider C&M. As part of the deal, Daesung will have the option of buying back the company at an agreed-upon… Read More
Advent International Agrees to Sell Ultimo to B2Holding (CEE and CIS)
Global private equity firm Advent International has signed an agreement to sell Poland-based debt management company Ultimo to Norway-based specialty finance company B2Holding. In 2006, Advent acquired Ultimo in a secondary buyout from AIG Capital Partners, the private equity investment arm of insurance and financial services firm American International Group. Financial details of the transaction, which is subject to regulatory… Read More
Ethos Private Equity, PIC and DPI Acquire a Controlling Stake in RTT Group (Sub-Saharan Africa)
Private equity fund manager Ethos Private Equity, South Africa-based asset manager Public Investment Corporation (PIC) and private equity firm Development Partners International (DPI) have acquired around an 80 percent stake in South Africa-based parcel distribution company RTT from investors Actis, Rand Merchant Bank and Old Mutual. Ethos’s investment was structured through its third fund and DPI’s contribution was structured through… Read More
Tembusu Partners Commits US$7.5 Million to Param Mitra Coal Resources (Asia)
Param Mitra Coal Resources, which owns two operating coal mines in Indonesia, has secured a US$7.5 million investment from private equity investor Tembusu Partners. The transaction was structured through Tembusu’s Growth Fund II. This is part of a US$20 million financing round underwritten by The Islamic Bank of Asia, a Singapore-based joint venture between DBS Bank and investors from the… Read More
Amethis Finance Holds a US$530 Million Final Close (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has reached a final close on its first Africa-dedicated fund with US$530 million in capital commitments. Fifty-five investors committed to the fund, including European, American and African institutions, as well as entrepreneurs and family offices from Europe and the United States. Amethis has already invested… Read More
Venture Partners Mexico Reaches a First Close of Venture Innovation Fund II (Latin America)
Venture capital firm Venture Partners Mexico has reached a first close of its second fund, Venture Innovation Fund II. Investors included United States-based fund of funds Northgate Capital. The Mexico-focused fund will target early-stage investments in the health care, financial services and consumer internet sectors. Financial details were not disclosed. Read More
Milk Mantra Raises INR800 Million from Fidelity Growth Partners and Aavishkaar (Asia)
India-based dairy foods company Milk Mantra has raised INR800 million (approximately US$13.3 million) in a Series C financing round led by Fidelity Growth Partners India, the India-focused private equity arm of Fidelity Worldwide Investment. Early-stage investor Aavishkaar also participated in the round through its fund Aavishkaar India II. The transaction provided an exit for angel investors as well as for… Read More
ICICI Venture Buys a Minority Stake in KIMS Hospitals for US$36 Million (Asia)
Private equity firm ICICI Venture has acquired a 28 percent stake in India-based hospital operator Krishna Institute of Medical Sciences (KIMS Hospitals) for INR2.2 billion (approximately US$36 million). The transaction, which was structured through ICICI Venture’s Advantage Fund Series 3, involved a fresh infusion of capital, as well as a secondary component through which health care-focused private equity fund manager… Read More
IDB Fund II Reaches a US$750 Million First Close (MENA)
The Islamic Development Bank (IDB) Group, an international financial institution, has announced that IDB Fund II has reached a first close with US$750 million in commitments. IDB Fund II, which is targeting US$2 billion and aims to hold a final close in early 2015, is managed by Bahrain-based multi-fund asset management platform ASMA Capital Partners. The fund will invest in… Read More
Southern Cross to Buy Grupo Expansión (Latin America)
Latin America-focused private equity firm Southern Cross has agreed to acquire Grupo Expansión (GEx), a magazine publisher in Mexico and a subsidiary of media company Time. Following the acquisition, GEx will continue to license the Time and Time Warner brands that have been part of its portfolio (CNNMéxico, InStyle and Travel + Leisure). Financial details of the transaction, which is… Read More
The West Africa Emerging Market Growth Fund Invests US$5 Million in Leasafric Ghana (Sub-Saharan Africa)
Private equity fund manager PCM Capital Partners has invested US$5 million in Leasafric Ghana, a provider of finance and operating lease solutions to small- and medium-sized enterprises in Ghana. The transaction was structured through the West Africa Emerging Market Growth Fund. The investment will allow Leasafric to expand its activities into other sectors, such as agriculture and oil and gas. Read More
EMX Capital Agrees to Invest up to MXN370 Million in Farmapiel (Latin America)
Mexico-focused private equity fund manager EMX Capital has agreed to invest up to MXN370 million (approximately US$28 million) in Mexico-based pharmaceutical company Farmapiel. The investment will be made in partnership with Ricardo Spinola, an entrepreneur and executive who acquired Farmapiel in 2013 and who will remain as a minority shareholder and CEO of the company. EMX Capital’s investment will support… Read More