Africa-focused investment management firm Convergence Partners has acquired a minority stake in Nigeria-based financial technology-focused holding company Venture Garden Nigeria (VGN) for US$20 million. The transaction was structured through Convergence Partners Communications Infrastructure Fund. VGN will use the new capital to accelerate its growth plans domestically in Nigeria and across… Read More
Apis Partners, a private equity asset manager focused on financial services in Africa and South Asia, has reached a first close for Apis Growth Fund I with capital commitments of more than US$157 million. Investors in the first close included development finance institutions CDC Group, FMO and Swedfund; European Union… Read More
Global growth markets investor The Abraaj Group has acquired a stake in Turkey-based Yü-Ce Tıbbi Gereçler İthalat İhracat Mümessillik Sanayi ve Ticaret (Yu-Ce Medical), a medical supplies manufacturer. The transaction was structured through Abraaj’s Anatolia Growth Capital Fund. The company plans to use the funds to increase its production capacity,… Read More
Global alternative asset manager The Carlyle Group and China-based conglomerate Huo’s Group have agreed to acquire a 75 percent stake in China-based Tongyi Lubricants, a lubricant supplier founded as a joint venture of Huo’s Group and global energy company Shell, from Shell. Carlyle’s investment will be structured through Carlyle Asia… Read More
Global infrastructure asset manager Macquarie Infrastructure & Real Assets has invested INR7.8 billion (approximately US$122 million) in India-based power producer Ind-Barath Power Infra (IBPIL). The investment provided an exit for global private equity firm 3i Group, which originally invested in IBPIL in 2011. IBPIL will use the fresh capital to… Read More
Private equity group EQT has sold Singapore-based food service distributor Classic Fine Foods Group (CFF) to Germany-based retailing company Metro Group. The transaction values CFF at an initial enterprise value of US$290 million, with an additional earn-out of up to US$38 million based on the company’s performance in 2015 to… Read More
Czech Republic- and Slovakia-focused private equity firm Genesis Capital has reached a first close for Genesis Private Equity Fund III (GPEF III) with EUR45 million (approximately US$49 million) in capital commitments. Investors in the first close included: development finance institution European Investment Fund, Czech Republic-based bank Česká spořitelna, Czech Republic-based… Read More
Livonia Partners, a private equity firm focused on the Baltics, has reached a first close for its maiden fund Livonia Partners Fund I with EUR70 million (approximately US$77 million) in capital commitments. Investors in the first close included European Union lender European Investment Bank, development finance institution European Bank for… Read More
Mid Europa Partners, a private equity firm focused on Central Europe and Turkey, has agreed to acquire Romania-based healthcare services company Regina Maria from global private equity investor Advent International and the Enayati family, founders of the company. The transaction is subject to anti-trust clearance and is expected to close… Read More
Accion’s Frontier Investments Group, a venture equity initiative focused on the financial sector in emerging markets, and Redpoint eventures, a Brazil-focused venture capital firm, have invested BRL10 million (approximately US$2.9 million) in a Series A round of funding for Brazil-based consumer lending company BankFacil. The company secures its loans with… Read More
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