Direct secondaries fund manager NewQuest Capital Partners has reached a final close for its latest fund, NewQuest Asia Fund III, with US$540.5 million in capital commitments, exceeding its original US$500 million target. Investors in the fund included pension funds, sovereign wealth funds, insurers and financial institutions in Asia, North America,… Read More
Saudi Arabia-based jewelry manufacturer L’azurde Company for Jewelry, which is owned by a consortium of private equity firms comprising Investcorp, Eastgate Capital Group and The National Investor, has completed an initial public offering (IPO). The company raised SAR419.7 million (approximately US$111.9 million) in the retail tranche offering, which accounted for… Read More
In this Bulletin we address a number of commercial, governance, legal and regulatory issues, which we believe are both timely and of broad interest to the emerging market private equity, venture capital, and infrastructure investment community. We are certain that some of the topics covered will be discussed—vociferously perhaps—at… Read More
South Africa-focused private equity fund manager Ethos Private Equity has agreed to sell South Africa-based consumer and industrial products distributor Brandcorp Holdings to Johannesburg Stock Exchange-listed conglomerate The Bidvest Group. Ethos Private Equity originally acquired Brandcorp in 2007 through Ethos Fund V. Financial details of the transaction, which is subject… Read More
Grupo Hotelero Santa Fe, a Mexico-based hotel operating platform backed by private equity firm Nexxus Capital, has raised MXN1.83 billion (approximately US$98.3 million) in a follow-on primary public offering. The offering took place through a modified Dutch auction on the Mexican Stock Exchange and Chile and Peru under the regulatory… Read More
India-focused impact investment firm Lok Capital has reached a first close for its third fund, Lok Fund III, with US$40.5 million in capital commitments. Investors in the fund included development finance institutions CDC, FMO and Proparco, as well as investment advisor TIAA Global Asset Management. Lok Fund III, which has… Read More
Brazil-focused private equity firm Gávea Investimentos has agreed to sell its 31.75 percent stake in Brazil-based rice and bean producer Camil Alimentos to global private equity firm Warburg Pincus. Gávea Investimentos originally invested in Camil Alimentos in 2011 through GIF IV. Financial details of the transaction were not disclosed. Read More
Southeast Asia-focused early-stage venture capital firm Golden Gate Ventures has reached a final close for Golden Gate Ventures Fund II with US$60 million in capital commitments, exceeding its original US$50 million target. Investors in the fund included Singaporean sovereign wealth fund Temasek, angel investor Eduardo Saverin, Korea-based Hanwha Life Insurance,… Read More
Development finance institution International Finance Corporation (IFC) and IFC Asset Management Company (IFC AMC), a wholly-owned subsidiary of IFC, have invested US$140 million in Consorcio Financiero, a Chile-based financial services company focused on the insurance and banking sectors. IFC and IFC AMC contributed US$100 million and US$40 million, respectively to… Read More
Global private markets asset management firm Hamilton Lane has reached a final close on Hamilton Lane Strategic Opportunities Fund 2016, a credit-oriented investment fund, with more than US$210 million in capital commitments, exceeding its initial target of US$150 million. Investors in the fund included insurance companies, Taft-Hartley pension plans, endowments… Read More
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