AfricInvest Group, a private equity firm focused on North and Sub-Saharan Africa, has held a first close for AfricInvest Fund III (AF III) with more than EUR154 million (approximately US$195 million) in capital commitments. Investors in the fund include development finance institutions Netherlands Development Finance Company (FMO), CDC Group, International… Read More
Central and Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to acquire a 95 percent stake in Czech Republic-based used car dealer AAA Auto Group for EUR220 million (approximately US$279 million). The transaction, which has been cleared by the Czech Antimonopoly Office, is subject to the approval… Read More
Asia-focused private equity firm Baring Private Equity Asia has reached a US$3.2 billion first close for its latest pan-Asia fund, Baring Private Equity Asia Fund VI. Investors in the fund, which reportedly has a hard cap of US$3.85 billion, include Pennsylvania Public School Employees' Retirement System, San Francisco City &… Read More
IDFC Alternatives, the alternative asset management arm of India-focused infrastructure financing company IDFC, has reached the final close for India Infrastructure Fund II (IIF II) at its hard cap of INR55 billion (approximately US$900 million). The fund received commitments of US$90 million from IDFC and US$810 million from third-party limited… Read More
China-focused private equity and venture capital firm CDH Investments has agreed to acquire a 79 percent stake in China-based alkaline battery manufacturer Fujian Nanping Nanfu Battery from global consumer goods company Procter & Gamble in a transaction reportedly worth US$1 billion. Nanfu Battery sells its products under the Excell, Nanfu… Read More
Emerging markets financial services investor LeapFrog Investments has sold its minority stake in Kenya-based insurance group Apollo Investments to Swiss Re, a global wholesale provider of reinsurance. Apollo, through its wholly-owned insurance subsidiary APA, provides a broad array of insurance solutions across Kenya, Uganda and Tanzania. Financial details of the… Read More
Global growth markets investor The Abraaj Group has acquired a majority stake in South Africa-based food and personal care manufacturer Liberty Star Consumer Holdings (Libstar) from existing shareholders including Metier, Old Mutual Private Equity, Development Partners International and Lereko. Libstar manufactures a broad range of products for the South African… Read More
Vietnam-focused investment manager Dragon Capital has partially exited a 1.1 percent stake in Vietnam-listed dairy company Vinamilk for US$66 million. Dragon Capital originally invested in the company through two of its funds, Vietnam Enterprise Investments (VEIL) and Vietnam Growth Fund (VGF). The recent exit resulted in a reported IRR of… Read More
Mezzanine-focused private investment fund manager Vantage Capital has provided approximately ZAR80 million (approximately US$7 million) in funding to facilitate a management buyout of South Africa-based bedding supplier Dynamic Bedding. The transaction was structured through Vantage Capital II. The company manufactures, distributes and markets bed bases and mattresses that are sold… Read More
Wananchi Group, a Kenya-based provider of broadband and Pay TV services in Eastern Africa, has completed a US$130 million financing round co-led by existing and new shareholders including international telecommunications companies Altice, Liberty Global and ATMT and Africa-focused private equity firms Emerging Capital Partners and Helios Investment Partners. The investment… Read More
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