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Apollo Global Management Exits from NCGA Holdings (Asia)
Global alternative investment firm Apollo Global Management has sold its stake in China’s NCGA Holdings, an operator of luxury car dealerships listed on the Hong Kong Stock Exchange, to Chinese automobile dealer Baoxin Auto Group. The transaction was valued at approximately US$305.4 million, with the share price set at HKD3.97 (approximately US$0.51). Read More
Beirut Fund Banks on Egypt-based Energy Firm (MENA)
U.K.-based private equity investment and advisory firm Capital Trust Group has invested US$20 million in Sakson Petroleum Services Holding, an Egyptian provider of oil and natural gas drilling services. The investment was made through EuroMena II, a US$90 million MENA-focused private equity fund. Separately, Capital Trust Group has reportedly announced the launch of EuroMena III, its fourth private equity fund… Read More
IFC Commits US$20 Million to Renewable Fund Domiciled in Mauritius (Asia)
International Finance Corporation (IFC), the private sector development arm of the World Bank, has agreed to commit US$20 million to Nereus India Alternative Energy Fund, a private equity fund managed by India-based alternative asset manager Nereus Capital. The fund, which is targeting US$250 million in total commitments, plans to make investments in the range of US$15 million to US$35 million.… Read More
Actis Backs Chinese Kitchen Equipment Designer (Asia)
Emerging markets-focused private equity firm Actis has invested in Vesta, a Chinese manufacturer of commercial kitchen equipment. Vesta produces fryers, griddles, warmers, ovens, combination steamers and dishwashers for restaurants, hotels and canteens, and owns the Justa brand. Financial details of transaction were not reported. Read More
SFS Group to Acquire Unisteel, a Singapore-Based Precision Engineering Solutions Provider (Asia)
Kohlberg Kravis Roberts & Co. (KKR), in coordination with other shareholders, has agreed to sell Singapore’s Unisteel Technology International to Swiss manufacturer of diversified industrial components SFS Group. Unisteel manufactures precision components for data storage and consumer electronics. Financial details of the transaction were not disclosed. Unisteel was listed on the Singapore Stock Exchange in 2000 but was taken private… Read More
Founder Buys Back Sequoia Stake in CCD (Asia)
Venture capital firm Sequoia Capital has reportedly sold its stake in India’s Amalgamated Bean Coffee Trading Co. Ltd. (ABCTL) to V. G. Siddhartha, the company’s Founder and Chairman. ABCTL owns and operates Indian coffee shop chain Café Coffee Day (CCD). Sequoia Capital originally invested US$20 million in ABCTL in 2006 and reportedly generated a return multiple greater than 2x and… Read More
JAFCO Invests US$5 Million into VC-backed Bubble Motion (Asia)
Japanese venture capital firm JAFCO Asia has invested US$5 million in Singapore-based social messaging service Bubble Motion. Bubble Motion’s flagship service, Bubbly, allows mobile users to update social media and send SMS messages using their voices. Bubble Motion reportedly plans to use the capital to expand its operations into other Asian countries such as India, Japan, Indonesia and the Philippines.… Read More
Blackstone Investing US$35 Million in S. H. Kelkar & Co. (Asia)
The Blackstone Group has invested INR2 billion (approximately US$35 million) in India’s S. H. Kelkar & Co., which develops and manufactures fragrances for a variety of cosmetic products. The company previously received US$21 million in funding from U.S.-based private equity firm Wayzata Investment Partners in September 2010 through the Wayzata II Indian Ocean Fund. Read More
China’s Delta Capital Secures US$200 Million for First Dollar Fund (Asia)
Chinese private equity firm Delta Capital has closed its first U.S. dollar-denominated fund with US$200 million in commitments. Delta plans to use the capital, raised largely from U.S. and European institutional investors, to invest in China’s healthcare and consumer sectors. Read More
Flipkart Raises Series D Round of Funding from Naspers’ Arm MIH, ICONIQ Capital, Tiger Global and Accel Partners (Asia)
Indian consumer e-commerce firm FlipKart.com has raised Series D funding from a consortium of investors including MIH, a subsidiary of South African media conglomerate Naspers, and U.S.-based investors Accel Partners, ICONIQ Capital and Tiger Global. Financial details of the transaction were not disclosed, but FlipKart was reportedly seeking US$150 million for its Series D roun Read More
Linzor Capital Partners Exits from Grupo Cruz Blanca Salud (Latin America)
Latin America-focused private equity firm Linzor Capital Partners has exited its remaining 14.92 percent stake in Chilean healthcare group Grupo Cruz Blanca Salud through a share sale on the Santiago Stock Exchange. Linzor reportedly sold over 92 million shares for approximately CLP46.5 billion (approximately US$96.3 million). Linzor had previously sold approximately 6 percent of its stake in the company in… Read More
US$45 Million Investment in Inox India Limited (Asia)
Standard Chartered Private Equity, the Asia-focused private equity arm of Standard Chartered Bank, has announced an investment of INR2.5 billion (approximately US$45 million) in Inox India, an Indian manufacturer of cryogenic storage and transportation equipment, for a minority stake. Inox India has a manufacturing presence in India, the United States, China and Brazil and plans to use the funding for… Read More