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CDC Launches Ethiopia Private Equity Fund (Sub-Saharan Africa)
CDC, the U.K.’s development finance institution, has announced a cornerstone investment of US$15 million in the Schulze Global Ethiopia Growth and Transformation Fund I. The fund has a target of US$100 million and will seek to invest between US$1 million and US$10 million per transaction in small- and mid-size Ethiopian companies operating in a range of sectors. The fund will… Read More
Peninsula Investments Group’s Second Fund Closes at US$76 Million (Latin America)
Peninsula Investments Group, a U.S.-based asset management firm focused on Latin American real estate, has closed its second fund with US$76 million in total commitments. Peninsula Investments Group II, which is already 50 percent committed, invests in middle-income residential development projects in Brazil, Colombia, Mexico, Panama, Peru and Uruguay. The fund received commitments from a diverse group of institutional investors,… Read More
Keystone EP, HBS Partner to Produce White Paper on Operational Value Creation in MENA Private Equity (MENA)
For a third consecutive year, Keystone (the General Manager of GrowthGate) has published a white paper that is the collective work of: (i) Harvard Business School (HBS) faculty members (MBA – Class 2012), (ii) Prof. Josh Lerner of HBS and one of the leading authorities on Private Equity (PE) in the US; and (iii) members of Keystone’s combined investment advisory… Read More
Emerging Capital Partners Announces Investment into Nairobi Java House (Sub-Saharan Africa)
Emerging Capital Partners (ECP), a U.S.-based pan-African private equity manager, has invested in Nairobi Java House, a Kenyan café and restaurant operator. ECP, which also announced the opening of a new office in Nairobi, made the investment through its latest fund, ECP Africa Fund III. Financial terms of the transaction were not disclosed. Read More
BTG Pactual Buys Minority Stake in Brazil’s Leader (Latin America)
Brazilian investment bank BTG Pactual’s private equity fund, BTG Pactual Principal Investments FIP, and BTG Pactual subsidiary holding company, BTG Investments LP, have reached an agreement to acquire 42.3 percent of Leader Participações for BRL665 million (approximately US$333 million), through a combined purchase of existing equity and new shares. Leader is an apparel and household goods retailer based in Brazil.… Read More
GP Investments to Sell Fogo de Chão (Latin America)
GP Investments, an alternative asset investment firm in Latin America, has reached an agreement to sell 100 percent of FC Holdings, the holding company for Brazilian steakhouse Fogo de Chão Churrascaria, to U.S.-based private equity firm Thomas H. Lee Partners for an enterprise value of US$400 million. In partnership with co-investors, GP Investments acquired a 35 percent stake in Fogo… Read More
DEG Co-finances Ethiopian Brewery (Sub-Saharan Africa)
DEG (Deutsche Investitions- und Entwicklungsgesellschaft), the development finance arm of Germany’s KfW Bankengruppe, has partnered with London-based Duet Group and U.S.-based Vasari Group to invest US$90 million in Dashen Brewery of Ethiopia. DEG will provide US$12.5 million of its own capital as part of the deal. Dashen, which produces local brands “Dashen” and “Royal,” will use the funds to expand… Read More
Rio Bravo Completes Final Close of FIP Rio Bravo Energy I at BRL463 Million (Latin America)
Rio Bravo Investments, a Brazil-based asset manager, has completed the final close of its renewable energy fund, FIP Rio Bravo Energy I, at BRL463 million (approximately US$275 million). Rio Bravo has already committed the fund’s capital to hydro and wind energy projects currently being developed through partnerships with mining firm Orteng, Servitec of São Paulo, and Electrosul, a member of… Read More
Navis Capital Partners Buys Kuckreja’s Stake in Nirula’s (Asia)
South and Southeast Asia-focused private equity investor Navis Capital Partners is now the sole owner of India-based fast food chain Nirula’s following the acquisition of co-owner Samir Kuckreja’s remaining stake in the company, which was estimated to be around 10 percent. Navis paid INR900 million (roughly US$19.7 million) for a majority stake in Nirula’s in 2006 and made a follow-on… Read More
TaxiForSure Raises Venture Capital from Accel, Helion (Asia)
Serendipity Infolabs, the India-based operator of online taxi reservation service TaxiForSure.com, has raised venture capital funding from global venture capital investor Accel Partners and India-based firms Helion Venture Partners and Blume Ventures. TaxiForSure, which caters to business travelers, is currently available in Bangalore and plans to soon expand to Delhi and Mumbai. Financial terms of the transaction were not disclosed. Read More
Nexxus Capital Announces an Investment in Price Travel (Latin America)
Nexxus Capital, a Mexico-based fund manager, has acquired a 31 percent stake in Price Travel, a travel services provider focused on the Mexican market. Price Travel’s current operations include an online platform and 98 Price Travel Shops offering hotel reservations, airline tickets, ground transport, tours and vacation packages. This is the third investment Nexxus Capital has made through Nexxus IV… Read More
Actis Exits Accra Mall (Sub-Saharan Africa)
Actis has announced the sale of its 85 percent stake in Accra Mall, a shopping and leisure center in Ghana, to Atterbury, a South Africa-based property developer, and Sanlam, a financial services group also based in South Africa. Actis led the development of Accra Mall in partnership with the Owusu-Akyaw family of Ghana. The mall, which opened in 2008, attracts… Read More