Global private equity firm Warburg Pincus has sold its 19 percent stake in China-based outdoor advertising firm Tulip Media to Shenzhen-listed Shanghai New Culture Media Group for RMB230 million (approximately US$37 million) in cash. This was part of a larger transaction in which New Culture Media Group acquired 100 percent… Read More
ChrysCapital, an investment firm that focuses on growth sectors in India, has raised its stake in India-listed pharmaceutical manufacturer Ipca Laboratories by buying an additional 1.3 percent stake for around US$20 million. The purchase took place through open market transactions over the last few months. ChrysCapital had previously acquired a… Read More
QIC, a global diversified alternative investment firm, has announced that its QIC Global Infrastructure Fund has secured initial capital commitments totaling US$528 million from four institutional investors. The investors included an Asian sovereign wealth fund and an Australian pension scheme. The fund will seek infrastructure investment opportunities in markets around… Read More
Singapore-based energy, water and marine group Sembcorp Industries has signed agreements to acquire a 60 percent stake in India-based renewable energy company Green Infra from India-focused private equity firm IDFC Alternatives for INR10.6 billion (approximately US$170 million). The transaction will be structured through IDFC Private Equity Fund II and IDFC… Read More
Pan-emerging markets private equity firm Actis has committed US$230 million to create Ostro Energy, a renewable energy platform focused on India. Ostro Energy’s first project is Tejuva, a 50MW wind project already under construction in Rajasthan. Separately, Actis has launched Lekela Power, a US$1.9 billion pan-African renewable energy platform. Actis… Read More
Private equity firm Ascent Capital has invested US$2.5 million in Ethiopia-based pharmaceutical company Medpharm Holdings Africa. The transaction was structured through Ascent Rift Valley Fund. Medpharm will use the investment to develop a pathology department, as well as to expand its presence throughout East Africa. Read More
Energy and infrastructure private equity fund manager Equis Funds Group has raised US$1.3 billion for two funds, reaching a close on Equis Asia Fund II with US$1 billion in capital commitments and a close on Equis Direct Investment Fund—a follow-on vehicle to Fund I—with US$300 million in commitments. Investors also… Read More
China-based social networking platform Renren has led a US$110 million Series D financing round for China-based second-hand car trading platform Cheyipai. Venture capital firms Sequoia Capital, Matrix Partners and Morningside Technologies and CITIC Capital, the private equity arm of CITIC Capital Holdings, also participated in the round. The company intends… Read More
The Competition Commission of India has approved Mauritius-based financial services company Destimoney Enterprises’ proposed sale of its Indian arm to Quality Investment Holdings, an entity controlled by alternative asset manager The Carlyle Group, for a reported US$200 million. Carlyle will acquire a 100 percent stake in Destimoney Enterprises’ Indian arm. Read More
India-focused private equity firm InvAscent has invested INR920 million (approximately US$15 million) across two India-based medical device companies: Comprehensive Prosthetics and Orthotics (CPO), a manufacturer of artificial limbs, and Relisys, a manufacturer of medical devices that treat life-threatening diseases. The transactions were structured through India Life Sciences Fund II. InvAscent… Read More
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