Brazil-focused alternative asset manager Patria Investments has formed a joint venture with Shell Energy Brazil and Mitsubishi Hitachi Power Systems (MHPS) to construct the Marlim Azul thermoelectric power plant. Rights to construct the 565-megawatt plant were won at auction in December 2017 after which Patria Investments acquired a 50.1 percent… Read More
Brazil-focused private equity firm Alothon Group has agreed to acquire a majority stake in Elétron Energy, a Brazil-based energy solutions provider, for more than BRL100 million (approximately USD27 million). The company will use the new capital and partnership to expand its power generation, consumer management, and energy trading businesses. The… Read More
Baltics-focused investment manager INVL Asset Management has held a first close for INVL Baltic Sea Growth Fund with EUR106 million (approximately USD121 million) in commitments. Investors in the fund—which is anchored by the European Investment Fund—include pension funds managed by INVL and Estonian asset manager LHV. The fund, which aims… Read More
Global alternative asset manager TPG has closed TPG Asia Fund VII with USD4.6 billion in capital commitments. Investors in the fund include CalPERS, Teacher Retirement System of Texas, Autorité des Marchés Financiers (AMF), New Mexico State Investment Council, NH Financial Group, and Korea Investment & Securities. Lexington Partners also committed… Read More
South Africa-focused technology incubator Savant has reached a first close for its debut venture fund, which will invest in technology hardware businesses. SA SME Fund, an impact-focused investment vehicle backed by 48 Johannesburg Stock Exchange-listed companies, committed ZAR100 million (approximately USD7 million) to the venture fund and an additional ZAR10… Read More
Growth markets investor Actis has agreed to exit Atlantic Energias Renováveis, a Brazil-based renewable energy generation and distribution company, to China General Nuclear Power Group. Actis originally invested in the company, which manages 642 megawatts of installed wind power capacity, in 2013 through Actis Energy 3. Financial details of the… Read More
India-focused venture capital firm 3one4 Capital has reached a first close for its Continuum fund with INR1.5 billion (approximately USD21 million) in commitments. Investors in the firm’s third vehicle include a US-based university endowment and Japanese diversified conglomerate Sojitz Corporation. The fund, which aims to raise a total of INR3.5… Read More
Mexico-focused private investment firm Promecap has acquired a portion of the outstanding loan portfolio of Mexico-based agricultural bank Finterra for MXN131 million (approximately USD7 million). The transaction forms part of Finterra’s plan to divest up to 35 percent of its outstanding loan portfolio in order to generate additional liquidity. Read More
India-based logistics technology company Rivigo Services has secured USD36 million in a funding round led by global private equity fund manager Warburg Pincus. India-focused venture capital firm SAIF Partners also participated in the round. Warburg, which originally invested in the company in 2016, contributed INR1.5 billion (approximately USD21 million) of… Read More
Global alternative asset manager Blackstone Group has agreed to exit South Africa-based energy infrastructure project developer Black Rhino Group to the company’s management team. In addition, Blackstone has sold the rights to develop the Qua Iboe power plant in Nigeria to UK-based project developer Globeleq. Blackstone originally acquired control of… Read More
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