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.
First Reserve-Backed KrisEnergy Debuts on SGX-ST (Asia)
Southeast Asia-focused oil and gas company KrisEnergy, which is backed by global private equity and infrastructure investment firm First Reserve, closed its first day of trading on the Singapore Exchange (SGX-ST) at SGD1.155 (approximately US$0.91) per share, a five percent increase from its offering price of SGD1.10 (approximately US$0.87). The company sold 151.99 million shares publicly and an additional 94.16… Read More
Gulf Capital Makes a US$15 Million Loan Investment in TurkNet (CEE and CIS)
Gulf Capital, a United Arab Emirates-based alternative investment firm, has completed a US$15 million investment in Turkey-based telecommunications service provider TurkNet İletişim Hizmetleri (TurkNet). The transaction was structured through Gulf Credit Partners, Gulf Capital’s credit and mezzanine fund. TurkNet provides broadband internet, long distance telephone and hosting services in Turkey. Read More
Brazil’s Oi Selling Underwater Fiber Optic Unit to BTG Pactual (Latin America)
Brazil-based telecommunication services provider Oi has agreed to sell its underwater fiber optic cable unit Brasil Telecom Cabos Submarinos and its subsidiaries (jointly known as GlobeNet) to Brazilian investment bank BTG Pactual for BRL1.7 billion (approximately US$768 million). GlobeNet operates assets located in Venezuela, Colombia, Bermuda and the United States. The transaction will be structured through BTG Pactual Infraestrutura II… Read More
Hony Capital Completes Divestment of Jiangsu Phoenix Publishing (Asia)
China-focused private equity firm Hony Capital has divested its entire holding in Jiangsu Phoenix Publishing & Media (Phoenix). Hony acquired 150 million shares in Phoenix for RMB481 million (approximately US$77.8 million) in May 2008, and in May 2013, began the divestment process, selling 25 million shares of Phoenix for a total transaction value of roughly US$32.3 million to US$35.9 million.… Read More
MCI Invests in Answear.com (CEE and CIS)
Central and Eastern Europe-focused private equity group MCI Management has acquired a minority stake in Wearco, the company that operates online clothing store Answear.com. Answear.com intends to use the capital injection to grow its market share in Poland and neighboring countries. Financial details of the transaction, which was structured through the MCI.TechVentures Fund, were not disclosed. Read More
Southern Capital Closes Fund III (Asia)
Southeast Asia-focused private equity buyout firm Southern Capital Group (SCG) has reportedly closed its third fund with US$408 million in commitments, surpassing its target of US$350 million. SCG targets middle market businesses with enterprise values of between US$20 million and US$200 million. SCG’s prior funds include Mulberry Asia Fund II, which closed in 2009 on US$300 million. Read More
Aberdare Ventures Invests in Brazilian Pharmacy Benefits Firm (Latin America)
Healthcare-focused venture capital firm Aberdare Ventures and U.S.-based hedge fund Valiant Capital Management have jointly acquired a 45 percent equity stake in Brazilian pharmacy benefits company ePharma for an estimated BRL169 million (approximately US$74.6 million). Founded in 1999, ePharma serves as an intermediary between health insurance companies, employers and pharmaceutical companies. Read More
CNEI Invests US$9.7 Million in Chinese Prawn Company (Asia)
China New Enterprise Investment (CNEI), a China-focused growth capital fund manager, has invested US$9.7 million in Zhanjiang Newpro Foods (Newpro), a China-based company involved in the breeding, culturing, farming and processing of prawns. Along with the investment, CNEI has introduced international experts to Newpro for future breeding of pathogen-free shrimp. Read More
Flipkart Raises US$200 Million in Funding from Existing Investors (Asia)
India-focused online retailer Flipkart has raised US$200 million in its fifth round of funding from existing investors, including Accel Partners, Tiger Global and global multi-family office ICONIQ Capital. South Africa-based multinational media company Naspers also participated in the round. In 2012, Flipkart raised a reported US$150 million in a Series D round led by Naspers. Flipkart intends to use the… Read More
Vaultize Raises Venture Capital Funding from Tata Capital Innovations Fund (Asia)
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has invested in India-based file sharing, sync and mobility vendor Vaultize. The new capital will be used to help the company scale up its go-to-market strategy, including expansion in the United States and Europe. Financial details of the transaction, which was structured through Tata Capital Innovations Fund, were… Read More
ImpressPages Raises EUR200,000 from Practica Capital (CEE and CIS)
Lithuania-focused venture capital firm Practica Capital has invested EUR200,000 (approximately US$257,000) in ImpressPages, a Lithuanian software developer. ImpressPages, creator of an open-source, drag-and-drop online content management system, intends to use the additional capital to grow its number of product users and to develop its ImpressPages Marketplace, where developers of ImpressPages plug-ins can sell their products. Read More
LJ International Announces Shareholders’ Approval of Take-Private Transaction (Asia)
Hong Kong-based LJ International, a leading colored gemstone and diamond jeweler with retail and wholesale businesses, has announced its shareholders’ approval of a proposed management buyout by China-focused private equity firm FountainVest. Upon completion of the transaction, LJ International will be delisted from the NASDAQ Stock Market and owned by a consortium of investors including FountainVest and LJ International’s Chairman… Read More