Convergence, a deal sourcing platform for blended finance investments, was launched in January 2016. The platform, which has funding from the Government of Canada and Citi Foundation, intends to connect private, public and philanthropic investors with one another for co-investment opportunities in blended finance deals in emerging and frontier markets. Read More
Emerging markets financial services investor LeapFrog Investments has acquired a majority stake in Ghana-based life insurance provider UT Life Insurance Company (UT Life). UT Life operates nine branches across Ghana. Financial details of the transaction were not disclosed. … Read More
Global asset management company Proterra Investment Partners, formerly known as Black River Asset Management, has agreed to invest US$45 million for a combination of compulsorily convertible debentures and equity shares in India-listed Future Consumer Enterprise, the food and consumer goods arm of Future Group. The transaction was structured through Black… Read More
Frontier markets-focused private equity firm Schulze Global Investments has acquired a 45 percent stake in Ethiopia-based dairy producer MB, which operates the brand Family Milk. With Schulze Global Investment’s support, MB intends to expand its Family Milk brand. Financial details of the transaction were not disclosed. Read More
South Africa-focused private equity fund manager Ethos Private Equity has acquired a 65 percent stake in South Africa-based industrial equipment and services company The Eazi Group in a deal valued at ZAR1.6 billion (approximately US$97 million). The transaction was structured through Ethos Fund VI. Separately, Ethos has sold its entire… Read More
Investcorp, a global alternative investment manager, has acquired a minority stake in Saudi Arabia-based supermarket and hypermarket company Bindawood Holding. Bindawood intends to expand its business in Saudi Arabia, with plans to open more than 30 hypermarkets and supermarkets in coming years. Financial details of the transaction were not disclosed. Read More
CITIC Capital Partners, the private equity arm of CITIC Capital, has led a CNY230 million (approximately US$35 million) financing round for China-based virtual reality headset manufacturer Baofeng Mojing. China-based gaming company Tianshen Hudong and an investment fund launched by Baofeng Mojing’s parent company Baofeng Technology also participated in the round,… Read More
China-focused private equity fund manager Hony Capital has reached a first close for Hony Capital Fund VIII with US$1 billion in capital commitments. The vehicle, which has a total target of US$2 billion, comprises pools of capital for both US dollar and Chinese renminbi and aims to raise US$1 billion… Read More
BaltCap, a private equity and venture capital firm focused on the Baltic countries, has exited the 18MW Tuuleenergia wind farm in Estonia and the 24MW Eurakras wind farm in Lithuania. The wind farms were acquired by Lithuanian state-owned energy group Lietuvos Energija. The total transaction amount, which included the buyout of… Read More
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