The Islamic Development Bank (IDB) Group, an international financial institution, has announced that IDB Fund II has reached a first close with US$750 million in commitments. IDB Fund II, which is targeting US$2 billion and aims to hold a final close in early 2015, is managed by Bahrain-based multi-fund… Read More
Latin America-focused private equity firm Southern Cross has agreed to acquire Grupo Expansión (GEx), a magazine publisher in Mexico and a subsidiary of media company Time. Following the acquisition, GEx will continue to license the Time and Time Warner brands that have been part of its portfolio (CNNMéxico, InStyle… Read More
Private equity fund manager PCM Capital Partners has invested US$5 million in Leasafric Ghana, a provider of finance and operating lease solutions to small- and medium-sized enterprises in Ghana. The transaction was structured through the West Africa Emerging Market Growth Fund. The investment will allow Leasafric to expand its… Read More
Mexico-focused private equity fund manager EMX Capital has agreed to invest up to MXN370 million (approximately US$28 million) in Mexico-based pharmaceutical company Farmapiel. The investment will be made in partnership with Ricardo Spinola, an entrepreneur and executive who acquired Farmapiel in 2013 and who will remain as a minority… Read More
Beltone Financial Holding, an Egypt-based investment bank, New Egypt Investment Fund (NEIF), a fund controlled by Egyptian businessman Naguib Sawiris, and Beltone Capital Holding, an investment vehicle managed by Beltone Private Equity, have submitted a tender offer to acquire 20 percent of Cairo-listed investment bank EFG Hermes Holding. Under… Read More
Private equity firm EQT has agreed to sell Blizoo Macedonia, the Macedonian operations of Bulgaria-based cable TV operator Blizoo, to Austria-based telecommunications company Telekom Austria. Telekom Austria will use its existing cash flow to finance the deal, which is expected to close in Q3 2014. Financial details of the… Read More
China-focused venture capital firm Lightspeed China Partners has completed fundraising for Lightspeed China Partners II with US$260 million in capital commitments, surpassing the vehicle’s target of US$220 million. The majority of investors in Lightspeed China Partners II were from the United States, including fund of funds manager Horsely Bridge… Read More
Private equity firm Motilal Oswal Private Equity has invested INR750 million (approximately US$12.5 million) for a minority stake in India-based Glass Wall Systems, a company that designs, manufactures and installs aluminum and glass facades for commercial and residential buildings. The transaction was structured through India Business Excellence Fund II. Read More
Mercer, a subsidiary of United States-based professional services firm Marsh & McLennan, has agreed to acquire 34 percent of South Africa-based employee benefits company Alexander Forbes, which is backed by private equity firms Actis and Ethos Private Equity. Mercer will initially acquire a 14.9 percent stake at the time… Read More
China-focused alternative asset fund manager CDH Investments and Hong Kong-listed pharmaceutical manufacturer China Grand Pharmaceutical and Healthcare Holdings have agreed to invest US$69 million and US$25 million, respectively, in Shanghai Weicon Optical, a China-based contact lens and solutions manufacturer. Upon completing the subscription, China Grand Pharmaceutical and CDH Investments… Read More
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