Private equity fund management company Advanced Finance and Investment Group (AFIG) has agreed to invest up to US$14 million in Nigeria-based producer and distributor of pharmaceutical products and bottled beverages Nigerian-German Chemicals (NGC). The transaction will be structured through Atlantic Coast Regional Fund. NGC intends to use the capital to… Read More
Global alternative asset manager The Carlyle Group has agreed to purchase multinational conglomerate General Electric’s stake in holding company Bowenvale, which holds a 74 percent stake in Hong Kong-listed Asia Satellite Telecommunications Holdings (AsiaSat), for as much as HKD3.75 billion (approximately US$483 million). AsiaSat is a commercial operator of communication… Read More
Credit and special situations investment firm Clearwater Capital Partners, emerging markets investment manager Spinnaker Capital Group and emerging markets fund manager Ashmore Investment Management have agreed to sell Hong Kong- and Singapore-based undersea cable provider Pacnet to Australia-based telecommunications company Telstra for US$697 million, including US$400 million in debt. The… Read More
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) and China-based Sihuan Pharmaceuticals, one of MSPEA’s portfolio companies, along with Sihuan’s chairman, have together agreed to invest RMB1.2 billion (approximately US$200 million) in two China-based hospitals: HY Hospital in Huai’an and JB Hospital in Nanjing. The investments are being… Read More
Emerging markets financial services investor LeapFrog Investments and private equity investment manager Lombard Investments have acquired an aggregate 22 percent stake in Thailand-listed general insurer Syn Mun Kong Insurance (SMK) from United Kingdom-based insurance group Royal & Sun Alliance Insurance for THB1.89 billion (approximately US$57.5 million). LeapFrog and Lombard each… Read More
North Africa-focused private equity firm Mediterrania Capital Partners (MCP) has reached an interim close on its second fund, Mediterrania Capital II (MC II), with EUR115.3 million (approximately US$147.4 million) in capital commitments. MCP aims to reach a final close at EUR150 million in March 2015. MC II has already completed… Read More
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has acquired one-third of Kenya-based printing and packaging group Ramco Plexus, a consortium of nine companies that are part of manufacturing, trading and services conglomerate Ramco Group. The acquisition will help consolidate Ramco Group’s printing… Read More
Malaysia-based death care service provider Nirvana Asia has completed an initial public offering (IPO) on the Hong Kong Stock Exchange. Nirvana issued 674.7 million shares at HKD3 (approximately US$0.39) per share, raising HKD2 billion (approximately US$261 million) in IPO proceeds. Private equity firms Orchid Asia and AIF Capital Asia, which… Read More
Private equity firm PC Capital Management has reached a first close on its latest fund, Mexico Development Fund I. The fund will target US$1 million to US$10 million investments in growth equity and mezzanine opportunities in Mexico. Investors in the fund included the Inter-American Development Bank, CAF Development Bank of Latin… Read More
Brazilian private equity firm Gávea Investimentos has reached a final close on its latest fund, Gávea Investimentos V, with US$1.1 billion in capital commitments. Investors in the fund included Kentucky Teachers’ Retirement System, Swedish national pension fund the Second AP Fund and fund of fund The Endowment Master Fund. Read More
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