Global private equity fund manager Warburg Pincus has led a Series D funding round of USD140 million for China-based K-12 education company Gaosi Education. The company provides one-on-one and live-streamed tutoring services in various subject areas, as well as tools and services for educators, and plans to use the funds… Read More
China-based coffee chain Luckin Coffee has raised USD150 million in a funding round led by global asset manager BlackRock, which contributed USD125 million of the total. Luckin, which is also backed by Singaporean sovereign wealth fund GIC and China-focused investors Centurium Capital, CICC, Legend Capital, and Joy Capital, plans to… Read More
India-based non-banking financial company Electronica Finance (EFL) has issued USD10 million in INR-denominated, senior-secured green bonds to impact investment fund manager responsAbility Investments. EFL will use the funds to provide equipment financing for small and medium-sized enterprises (SMEs) in the machine tools, plastics, printing, and packaging industries in India. The… Read More
Global growth equity fund manager TA Associates has acquired a significant minority stake in India-based fertility treatment provider Indira IVF. The company operates 59 treatment centers across 16 states in India and will partner with TA to grow its business in India and abroad, as well as to expand its… Read More
Malaysian national oil and gas company Petroliam Nasional (Petronas) has agreed to acquire 100 percent of Singapore- and India-based distributed solar power developer Amplus Energy Solutions (also known as M+) for a reported INR27 billion (approximately USD389 million). The transaction will provide an exit for global infrastructure fund manager I… Read More
China-focused private equity fund manager DCP Capital has reached a final close for its debut fund with USD2.5 billion in capital commitments, including USD500 million raised through a local RMB-denominated vehicle. Investors in the fund include sovereign wealth funds GIC, Temasek Holdings, and Abu Dhabi Investment Authority and pension funds… Read More
Education-focused private equity fund manager Kaizen Private Equity and the Asian Development Bank (ADB) have agreed to invest PHP1.6 billion (approximately USD31 million) for a 20 percent stake in Philippines-based education company Phinma Education Holdings. Kaizen will invest through Kaizen Private Equity II. Phinma Education is a subsidiary of Philippines-listed… Read More
China-focused private credit fund manager Dignari Capital Partners has reached a final close for DCP China Credit Fund II with USD626 million in capital commitments. The fund will provide debt financing to China-based companies in complex and time-sensitive financial situations across various sectors. Read More
India-focused alternative asset manager Steadview Capital Management has acquired a stake in India-based fantasy sports game developer Dream11 for a reported sum of USD60 million from existing investors Kalaari Capital, Multiples Alternate Asset Management, and Think Investments. Kalaari and Multiples originally invested in the company in 2015 and 2017, respectively,… Read More
Asia-focused alternative asset manager Baring Private Equity Asia (BPEA) has agreed to invest INR26 billion (approximately USD379 million) for a 30 percent stake in NIIT Technologies, an India-listed information technology group. BPEA will purchase 18.85 million shares of the company at a price of INR1,394 (USD20.11) per share from NIIT… Read More
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