The Blackstone Group has agreed to sell its 17.75 percent stake in India-based International Tractors, the owner of the Sonalika farm equipment brand, to Japan-based agricultural machinery and industrial engineering group Yanmar for INR17 billion (approximately US$250 million). Blackstone originally invested in the company in 2012 through Blackstone Capital Partners… Read More
Global technology-focused investor Silver Lake and China-focused private equity and venture capital firms CDH Investments, Yunfeng Capital and Primavera Capital Group have led a US$1.1 billion round for Koubei, Alibaba Group Holding’s China-based e-commerce services platform. Sovereign wealth fund China Investment Corporation also invested approximately US$150 million in the round. Read More
Global growth markets investor The Abraaj Group has agreed to acquire a majority stake in Pakistan-based Jhimpir Power (JPL) from Asia- and MENA-focused renewable power developer and investor Burj Capital. JPL wholly owns a 50 megawatt wind power project in the Jhimpir wind corridor in southeast Pakistan. The project is… Read More
Joulon, an oil and gas asset management services platform established in 2015 by global investment firm KKR and industry veteran Deepak Munganahalli, has acquired a majority stake in India-based drilling equipment manufacturer Sara Sae. As part of the transaction, India-focused private equity firm Multiples Alternate Asset Management, which originally invested… Read More
Emerging markets financial services and health care specialist investor LeapFrog Investments has sold a partial stake in India-based non-banking financial company IFMR Capital to Standard Chartered Private Equity, the private equity arm of Standard Chartered Bank. LeapFrog originally invested in IFMR Capital in 2014. Financial details of the transaction were… Read More
India-focused venture capital firm Saama Capital has reached a final close for its third fund with US$58 million (approximately INR3.9 billion) in capital commitments. The fund will focus on seed and Series A rounds for companies in the fintech, software-as-a-service (SaaS) and non-technology consumer sectors. Read More
Global asset manager PineBridge Investments has partially exited National Stock Exchange- and Bombay Stock Exchange-listed specialty hospital chain Narayana Health (formerly Narayana Hrudayalaya) via the sale of a 1.3 percent stake for a reported INR900 million (approximately US$13.2 million). Narayana has a network of 23 hospitals and seven heart centers… Read More
Global investment firm KKR has invested INR4 billion (approximately US$59 million) in the promoter family of India-based TVS Logistics via a long-term structured credit partnership. The promoters of TVS plan to use the funds to buy the company’s shares from private equity funds. KKR originally invested in TVS Logistics in… Read More
CITIC Capital Partners, the private equity arm of CITIC Capital, has led a Series B round of CNY100 million (approximately US$14.6 million) for China-based fintech company Samoyed Financial. Yonghua Capital, an investment firm of China-based financial services group Yonjiin Group, also participated in the round. Founded in 2015, Samoyed provides… Read More
Global private equity firm Warburg Pincus has acquired a 14 percent stake in National Stock Exchange- and Bombay Stock Exchange-listed cinema multiplex operator PVR for approximately INR8.2 billion (approximately US$120 million). Warburg Pincus acquired the stake from affiliates of India-focused private equity firm Multiples Alternate Asset Management (Multiples PE) and… Read More
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