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.
Alibaba Closes US$7.6 Billion Share Repurchase and Restructuring of Yahoo! Relationship (Asia)
Chinese e-commerce company Alibaba Group Holding has announced the completion of its initial US$7.6 billion share repurchase from Yahoo!. Yahoo! received US$6.3 billion in cash, US$800 million worth of preferential shares in Alibaba and US$550 million in connection with the amendment to their intellectual property and technology agreement in exchange for 20 percent of Alibaba’s shares, representing half of Alibaba’s… Read More
AfDB Injects US$7 Million Equity into Pan African Housing Fund to Increase Access to Housing in African Cities (Sub-Saharan Africa)
The African Development Bank (AfDB) has invested US$7 million in the Pan African Housing Fund (PAHF), an Africa-focused fund managed by private equity fund manager Phatisa Group. The fund will invest in lower-middle and middle class residential housing in African urban areas. Shelter-Afrique, an African housing finance and development institution established by African governments, the AfDB, Africa-Reinsurance Co. and CDC… Read More
IDFC Alternatives Invests US$29 Million in Parag Dairy; Motilal Oswal Private Equity Makes Partial Exit (Asia)
IDFC Private Equity, the private equity arm of Indian alternative asset manager IDFC Alternatives, has invested INR1.55 billion (approximately US$28.8 million) in Indian milk producer Parag Milk Foods through IDFC Private Equity Fund III. Existing investor Motilal Oswal Private Equity, the private equity arm of Indian financial services company Motilal Oswal Financial Services, partially exited its stake as part of… Read More
EBRD Launches First Investments in Emerging Arab Democracies (MENA)
The European Bank for Reconstruction and Development (EBRD) has announced its first investments in Jordan, Morocco and Tunisia. The EBRD has committed EUR20 million (approximately US$26.2 million) to the Maghreb Private Equity Fund III, a North Africa-focused private equity fund managed by Tunisia-based AfricInvest-TunInvest Group, which is targeting EUR200 million (approximately US$262.4 million) in total commitments. The EBRD has also… Read More
H.I.G Capital Acquires Cel Lep, an Educational Company in Brazil (Latin America)
U.S.-based private investment firm H.I.G. Capital has acquired Cel Lep Idiomas (Cel Lep), a Brazilian English language teaching company. Cel Lep owns 17 schools and operates an additional four in the Brazilian states of São Paulo and Minas Gerais. Financial terms of the acquisition were not disclosed. Read More
Yemeksepeti.com Partners with Global Growth Investor General Atlantic (CEE and CIS)
Global growth equity investor General Atlantic has invested US$44 million in Turkish online food ordering service provider Yemeksepeti.com for a minority stake. Endeavor Catalyst, a philanthropic investment vehicle supporting entrepreneurs in global markets, also participated in the investment. Yemeksepeti.com allows its 1.5 million registered users in both Turkey and the United Arab Emirates to order from over 6,500 restaurants in… Read More
Brazil’s Gávea Buys Stake in Accessories Retailer Chilli Beans (Latin America)
Gávea Investimentos, a Brazilian asset management company, has purchased a 29.8 percent stake in Chilli Beans, a local retailer of accessories such as sunglasses. Gávea will be accorded a seat on the company’s board of directors, while Chilli Beans founder Caito Maia will remain head of the company. Financial terms of the transaction were not disclosed. Read More
CVCI Achieves 2x Return on Chinfon Vietnam Exit (Asia)
Global emerging markets private equity firm Citi Venture Capital International (CVCI Private Equity) has exited its stake in Chinfon Vietnam, a Vietnamese cement manufacturer. CVCI sold its stake, which it originally acquired in 2008, through a strategic sale to an undisclosed investor, reportedly generating a return multiple of 2x. Financial terms of the transaction were not disclosed. Read More
OPIC Board Approves US$360 Million for Investment Funds Targeting Consumer Populations in Africa, Indonesia and Russia (Global)
The Overseas Private Investment Corporation (OPIC) has approved US$360 million in financing for three private equity funds targeting investments in Africa, Indonesia and Russia. OPIC has earmarked up to US$150 million each for African Development Partners II, an African private equity fund managed by Development Partners International, and Elbrus Capital Fund II, a Russia-focused private equity fund managed by Elbrus… Read More
The Carlyle Group to Acquire Controlling Stake in Tok&Stok (Latin America)
The Carlyle Group has acquired 60 percent of Brazilian furniture retailer Tok&Stok from the company’s founders, Ghislaine and Régis Dubrule, who will retain the remaining 40 percent. Funding for the transaction will come from the US$1 billion pool of capital managed by Carlyle’s South America Buyout Fund and Fundo Brasil de Internacionalização de Empresas FIP, a fund advised by Carlyle… Read More
PAG Announces Final Close of US$2.4 Billion on Asia Fund (Asia)
Asia-focused alternative investments manager PAG has reach a final close at US$2.4 billion for its debut private equity fund, PAG Asia I. The fund will focus on buyout investments throughout Asia with a focus on China. Over 90 percent of the limited partners in the fund are reportedly large institutional investors, including pension funds, sovereign wealth funds and financial institutions. Read More
Ivi.ru Secures US$40 Million Investment (CEE and CIS)
Russian online video service Ivi.ru has secured a US$40 million investment from Russia-based private equity firm Baring Vostok Capital Partners and a consortium of existing shareholders including Russian venture capital funds ru-Net and Frontier Ventures, U.S.-based investment firm Tiger Global Management and Russian media and entertainment group ProfMedia. Ivi.ru will use the capital to increase its catalog of films and… Read More