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Helios to Invest US$100 Million in Global Credit Provider Bayport Management (Sub-Saharan Africa)
Pan-African private equity firm Helios Investment Partners will invest US$100 million in Mauritius-listed Bayport Management (BML), provider of unsecured credit and other financial solutions in Africa and Latin America. BML will use the funding to partially finance its acquisition of Bayport Financial Services South Africa (BFS) from financial services group Transaction Capital for an enterprise value of ZAR1.6 billion (approximately… Read More
IL&FS Sells Stakes in Jyothy Fabricare and Gujarat Pipavav Port (Asia)
India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) is selling its stake in India-based laundry business Jyothy Fabricare Services. Jyothy’s board has approved the acquisition of 3.3 million Compulsorily Convertible Cumulative Participatory Preference Shares (CCCPPS) at INR10 (approximately US$0.16) each and 50,000 equity shares from the private equity firm. IIML originally invested INR1 billion (approximately US$21 million) at… Read More
Vinci Partners and P2 Brasil to Buy CBO and Estaleiro Aliança (Latin America)
Brazil-focused alternative investment and asset management firm Vinci Partners and P2 Brasil, a partnership of Pátria Investimentos and Promon, have signed a deal to buy Brazil-based offshore shipping company Companhia Brasileira de Offshore (CBO) and shipyard Estaleiro Aliança, both previously controlled by Fischer group, a multinational Brazilian company involved in the logistical operation of support vessels to maritime petroleum platforms.… Read More
Actis Invests US$48 Million in Symbiotec Pharmalab (Asia)
Pan-emerging markets private equity firm Actis has announced a US$48 million investment for a significant stake in India-based Symbiotec Pharmalab, producer of steroid-hormone active pharmaceutical ingredients. Symbiotec, which produces active ingredients for medicine manufacturers, intends to use the new financing for company growth. Read More
Baring Vostok-Backed Tinkoff Credit Systems Raises US$1.1 Billion in London IPO (CEE and CIS)
Russia-based credit card company Tinkoff Credit Systems (TCS), backed by Russia and CIS-focused private equity firm Baring Vostok, has raised US$1.1 billion in an oversubscribed London initial public offering. The final pricing gave the company a valuation of US$3.2 billion. As part of its IPO, TCS raised US$175 million of new capital, while existing shareholders, including Russian entrepreneur and founder… Read More
MSPEA-Backed Hyundai Rotem Raises US$585 Million in IPO (Asia)
South Korea-based train manufacturer Hyundai Rotem, which is backed by Asia Pacific private equity investor Morgan Stanley Private Equity Asia (MSPEA), has raised KRW622.4 billion (approximately US$584.4 million) in an initial public offering on the Korea Exchange. The offering of 27.1 million shares, including six million shares owned by MSPEA, was priced at KRW23,000 (approximately US$21.60) per share. MSPEA, which… Read More
The Abraaj Group Backs Ghanaian Mortgage Finance Provider Ghana Home Loans
Global growth markets investor The Abraaj Group has acquired a majority stake in Ghana Home Loans, provider of residential mortgages in Ghana. The company intends to use the new financing to scale and consolidate the business’ market position, increase operational efficiency and broaden its portfolio. Financial details of the transaction were not disclosed. Read More
TPG to Buy 21st Century Fox’s Stake in Phoenix Satellite TV (Asia)
Global private investment firm TPG has agreed to buy a 12.2 percent stake in China-based satellite television operator Phoenix Satellite Television Holdings from United States-based media corporation 21st Century Fox for HKD1.7 billion (approximately US$214 million). TPG will buy 607 million shares in Phoenix at HKD2.73 per share, representing a 3.5 percent discount to the company’s closing price on 18… Read More
ADM Capital and Altus Capital Partners Invest in Philippines-Based Vitarich (Asia)
ADM Capital, an investment firm focused primarily on recovery, special situations and event-driven opportunities in emerging markets, has partnered with distressed debt and special situations investment manager Altus Capital Partners to invest in Kormasinc, a special purpose company set up to acquire Philippines-based agri-feeds producer Vitarich’s long term secured liabilities. ADM Capital and Altus Capital intend to restructure Vitarich’s debt,… Read More
RRJ Capital, CCBI and CIC Back China Water Treatment Company SIIC Environment (Asia)
Singapore-listed Chinese water treatment company SIIC Environment will raise SGD260.2 million (approximately US$208.9 million) by selling new shares to Asia-focused private equity firm RRJ Capital, investment services institution CCB International (CCBI) and China sovereign wealth fund China Investment Corporation (CIC). SIIC will sell 3.1 billion ordinary shares at SGD0.09 (approximately US$0.07) per share, representing a 13 percent discount to the… Read More
IDFC Alternatives Invests US$20 Million in Medi Assist (Asia)
IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, has picked up a stake in India-based Medi Assist Group, provider of third party administrator (TPA) services for health insurance-related claims. IDFC Alternatives committed INR1.3 billion (approximately US$20.5 million) to the deal, part of which has already been invested. Medi Assist intends to use the new financing to… Read More
MBK Closes Third North Asia Buyout Fund at US$2.7 Billion Hard Cap (Asia)
North Asia-focused private equity firm MBK Partners has reached a third close on its latest buyout fund MBK Partners III at the hard cap of US$2.7 billion in capital commitments. The fund, which reached a first close of US$1.25 billion in capital commitments in November 2012, had an initial target of US$2.25 billion. The fund will maintain MBK’s geographic focus… Read More