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BanyanTree Growth Capital II Invests US$8.6 Million in Renewable Power Firm Atria (Asia)
BanyanTree Finance, a private equity firm that focuses on middle market companies in India, has invested INR500 million (approximately US$8.6 million) in Atria Brindavan Power, an India-based renewable power generation company. The investment was structured through BanyanTree Growth Capital II, which announced its first close in July 2012 with nearly US$100 million in commitments. Atria Brindavan Power has an operating… Read More
Tar Heel Backs Rockfin in First Investment from Fund II (CEE and CIS)
Polish private equity firm Tar Heel Capital has acquired a 60 percent stake in Polish hydraulic oil systems manufacturer Rockfin. The investment, which marks the first from the EUR50 million Tar Heel Capital II fund, is intended to finance the development of Rockfin’s production plant as well as potential acquisitions. Financial details of the transaction were not disclosed. Read More
PAG Agrees to US$150 Million Investment in Chinese Property Developer (Asia)
Asia-focused investment firm PAG has agreed to invest up to US$150 million in Chinese shopping mall operator Zall Development Group. PAG Alliance Asia Opportunity Fund will purchase US$100 million in convertible bonds issued by Zall, with the option to purchase up to US$50 million in additional convertible bonds. If both bond issues are purchased and converted, PAG will own a… Read More
LVMH-backed L Capital Asia Raises US$1 Billion Fund (Asia)
L Capital Asia, the private equity fund sponsored by global luxury goods distributor LVMH Group, Groupe Arnault and YTL, has raised US$1 billion for its second Asia-dedicated fund. The regional fund will focus particularly on China, to which it plans to devote 45 to 50 percent of its corpus. Target sectors for the fund will include fashion, leather goods, beauty… Read More
Lamoda Gets US$130 Million from Investment Consortium (CEE and CIS)
Global private equity firm Summit Partners, American industrial group Access Industries and German conglomerate Tengelmann Group have collectively invested US$130 million in Russian online shopping service Lamoda. The investment is intended to increase Lamoda’s brand portfolio as well as expand its Russia-focused home delivery service, Lamoda Express. Lamoda was launched in 2011 with support from German venture incubator Rocket Internet. Read More
China E-Commerce Firm Lists on NYSE (Asia)
Chinese e-commerce company LightInTheBox has held an initial public offering on the New York Stock Exchange, reportedly raising US$79 million. The listing marks the first initial public offering of a Chinese company on a U.S. stock exchange in 2013 to date. The company is backed by China-focused private equity and venture capital firms TrustBridge Partners, Ceyuan Ventures and GSR Ventures,… Read More
ACON Investments Exits Investment in InverCap (Latin America)
ACON Investments, a private equity firm focused on the United States and Latin America, has exited its investment in Mexico’s InverCap Holdings, which manages independent Mexican pension fund manager Afore InverCap, in a company buyback. ACON originally invested in InverCap via a mix of debt and warrants in October 2010 through its ACON Latin America Opportunities Fund (ALAOF). ACON previously… Read More
Capital North Africa Venture Fund II Holds Its First Close (MENA)
Moroccan private equity firm Capital Invest’s Capital North Africa Venture Fund II, a fund focused on providing equity and quasi-equity financing to local small- and medium-sized enterprises, has held a first close with over EUR75 million (approximately US$99 million) in capital commitments. The fund has a final target size of EUR100 million. The European Investment Bank (EIB) and the European… Read More
Oaktree Capital Buys Majority Stake in Cogent Glass (Asia)
Oaktree Capital Management, a global alternative investment management firm, has invested approximately INR1.2 billion (approximately US$21 million) in India-based Cogent Glass, a pharmaceutical packaging company, acquiring a 60 percent stake in the company. Under the terms of the transaction, Oaktree’s portfolio company SGD, a French glass manufacturer for the cosmetic and pharmaceutical industries, has agreed to extend technology and marketing… Read More
Housing.co.in Secures US$2.5 Million from Nexus Venture Partners (Asia)
Indian venture capital firm Nexus Venture Partners has invested US$2.5 million in Indian online real estate search platform Housing.co.in as part of a pre-Series A round of financing. In addition to developing new technologies, Housing.co.in intends to use the funding to set up a data science lab to leverage the real estate data gathered by the platform and provide research… Read More
Actis Invests US$290 Million in Chilean Wind and Solar Energy Project (Latin America)
Africa, Asia and Latin America-focused private equity firm Actis has invested US$290 million for a 60 percent stake in Aela Energía, a Chilean wind and solar energy provider. Mainstream Renewable Power, a global wind and solar energy developer, invested alongside Actis and will own the remaining 40 percent stake in the company. Aela Energía intends to expand Chile’s renewable energy… Read More
Goldman Sachs Invests US$135 Million in ReNew Power (Asia)
The private equity arm of Goldman Sachs has invested US$135 million in ReNew Power, an Indian wind energy firm. This transaction follows two prior investments made by Goldman Sachs in ReNew in 2011, collectively totaling US$250 million and giving the firm a majority stake. ReNew intends to use this financing to scale up its energy production capacity to 1,000 MW… Read More