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Vantage Capital Exits Its Investment in CA Sales (Sub-Saharan Africa)
Mezzanine-focused private equity fund manager Vantage Capital has exited its investment in South Africa-based CA Sales, a distributor of fast-moving consumer goods with operations in Botswana, South Africa, Swaziland, Zimbabwe and Mozambique. In March 2012, Vantage-funded Export Trading Group had acquired a 40 percent stake in CA Sales alongside PSG Asset Management, a South Africa-listed investment group. Vantage’s exit was… Read More
EMF Capital Partners Acquires Aviva’s General Insurance Business in Turkey (CEE and CIS)
A consortium of investors led by EMF Capital Partners, a private equity firm focused on financial institutions in emerging markets, has acquired Turkey-listed non-life insurance company Aviva Sigorta from insurance and asset management company Aviva. EMF’s investment was structured through the EMF New Europe Insurance Fund. Development finance institutions DEG and FMO also participated in the acquisition. Financial details of… Read More
Hanco and Venture Capital Bank Buy Byrne Investments from Havenvest Private Equity Middle East and HSBC Bank Middle East (MENA)
Saudi Arabia-based asset rental and leasing company Hanco has acquired Saudi Arabia-based rental company Byrne Investments and its subsidiary companies, Byrne Equipment Rental and Spacemaker, from MENA-focused private equity firm Havenvest Private Equity and financial services provider HSBC Bank Middle East for a total transaction value of AED600 million (approximately US$163 million). Islamic investment bank Venture Capital Bank joined Hanco… Read More
PineBridge Acquires a 50 Percent Stake in Physical Therapy Chain Romatem (CEE and CIS)
Global asset manager PineBridge Investments Middle East has acquired a 50 percent stake in Turkey-based physical therapy and rehabilitation services chain Romatem. The company operates a network of four facilities and intends to use the new investment to establish additional hospitals and clinics across Turkey, as well as for international expansion. Financial details of the transaction were not disclosed. Read More
CITIC Capital Commits US$150 Million to Harbin Bank IPO (Asia)
China-based commercial lender to small businesses Harbin Bank has raised US$1.1 billion from its initial public offering (IPO) on the Hong Kong Stock Exchange, selling 3.02 billion shares at HKD2.90 (approximately US$0.37) each. Harbin Bank secured pledges from seven cornerstone investors to buy 46 percent of the IPO. Investors included Taiwan-based life and health insurance provider Fubon Life Insurance, which… Read More
Bain Capital Agrees to Buy Health Plan Provider GNDI (Latin America)
Alternative investment firm Bain Capital has agreed to acquire Brazil-based provider of health and dental plans Grupo Notre Dame Intermedica (GNDI) from its founder, Dr. Paulo Barbanti, for a reported BRL2 billion (approximately US$858 million). The company provides healthcare services to more than seven thousand companies and three million people through its subsidiaries: Intermedica, Notre Dame and Interodonto. The transaction… Read More
Harith Participates in US$870 Million Financing Agreement for the Lake Turkana Wind Power Project in Kenya (Sub-Saharan Africa)
The Lake Turkana Wind Power Project (LTWP), intended to add 300MW of low cost wind energy to Kenya's national electricity grid, has signed financing agreements worth more than US$870 million, including a mixture of equity, mezzanine debt and senior debt. Pan-African infrastructure fund manager Harith General Partners, structured through its Power Africa fund, has committed US$70 million to the project.… Read More
CITIC Capital Invests More Than RMB100 Million in Shsun Education Group (Asia)
Alternative investment management and advisory firm CITIC Capital has invested more than RMB100 million (approximately US$16 million) in a Series A financing round for China-based vocational training provider Shsun Education Group. The company, which offers vocational training courses on architecture, real estate and financial services, intends to use the capital injection to expand its teaching centers. Shsun also announced an… Read More
Zoyi Capital Acquires a Controlling Stake in Fashion Brand Pink Mary (Asia)
China- and Taiwan-focused investment firm Zoyi Capital has acquired a controlling stake in China-based Pink Mary, a manufacturer and distributor of women's apparel. Pink Mary's products are sold in around 400 stores throughout China. Financial details of the transaction were not disclosed. Read More
IIM-A’s Cleantech Investment Vehicle Reaches a Second Close with US$18 Million in Commitments (Asia)
Indian Institute of Management Ahmedabad's (IIM-A) technology incubator Centre for Innovation Incubation and Entrepreneurship (CIIE) has reached a second close on its cleantech fund, Infuse Ventures, with INR1.11 billion (approximately US$18 million) in capital commitments. Infuse Ventures held a first close last May and aims to reach a final close at around INR1.25 billion (approximately US$20 million). Investors in the… Read More
Qiming Venture Partners Closes US$500 Million China-focused Venture Capital Fund (Asia)
Venture capital firm Qiming Venture Partners has closed its fourth USD-denominated venture capital fund with US$500 million in capital commitments. The fund, which was oversubscribed, will focus on early- to growth-stage investments in the internet and consumer, healthcare, information technology and cleantech sectors in China. Read More
Sequoia Capital, Tencent Holdings and MediaTek Invest More Than US$200 Million in E-commerce Platform Mmb.cn (Asia)
China-based investment holding company Tencent Holdings and Taiwan-based semiconductor manufacturer MediaTek have led a financing round worth more than US$200 million for China-based e-commerce platform Mmb.cn. Existing investor venture capital firm Sequoia Capital also participated in the round. Mmb.cn intends to use the new capital to build a nationwide warehouse network, as well as for investment in research and development.… Read More