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
Global pharmaceutical company Mylan has signed a definitive agreement to acquire certain female health care businesses from India-based oral contraceptive pill manufacturer Famy Care for US$750 million, plus additional contingent payments of up to US$50 million, facilitating an exit for Asia-focused private equity firm AIF Capital. AIF Capital originally invested… Read More
Latin America-focused private equity firm Southern Cross has agreed to acquire a 70 percent stake in Brazil-based temporary storage solutions provider Tópico. The company intends to use the funds to bolster its operations in Brazil by opening new branches and to expand to other Latin American countries, including Mexico, Colombia… Read More
South Korea-focused private equity firm Hahn & Company has held a final close on its second South Korea buyout fund with US$1.2 billion in capital commitments, reaching the fund’s hard cap. The final close came in the first week of December. Hahn & Company also raised a separate US$700 million… Read More
China-focused private equity firm CITIC Private Equity and water treatment company Beijing Enterprises Water Group have agreed to acquire a majority stake in Hong Kong-listed cigarette package maker Jin Cai Holdings for approximately HKD3.75 billion (approximately US$484 million). The transaction will be structured through CITIC Private Equity Funds II and… Read More
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