Vogo Investment Group, a South Korea-focused buyout firm, is selling a 57.5 percent stake in South Korea-based insurer Tong Yang Life Insurance to China-based insurance conglomerate Anbang Insurance Group. This is part of a larger transaction in which Anbang is acquiring a 63 percent stake in Tong Yang in a… Read More
Global private equity firm Warburg Pincus will invest US$125 million—with the option to invest up to an additional US$75 million—in a joint venture with Indonesia-based real estate developer and operator Nirvana Development. The transaction will be structured through Warburg Pincus Private Equity XI. The joint venture will develop and open… Read More
Energy and infrastructure investor Equis Funds Group has invested INR7.2 billion (approximately US$116 million) in India-based property developer Assetz. The company will use the funding to build mid-income housing townships across India over the next five years. Read More
India-based online lending platform Capital Float has raised US$13 million in Series A financing co-led by venture capital firms SAIF Partners and Sequoia Capital. Existing investor Aspada Investment Advisors, an investment firm focused on Indian small- and medium-sized enterprises, also participated in this round. The company intends to use the… Read More
Global private equity firm Warburg Pincus has sold its 19 percent stake in China-based outdoor advertising firm Tulip Media to Shenzhen-listed Shanghai New Culture Media Group for RMB230 million (approximately US$37 million) in cash. This was part of a larger transaction in which New Culture Media Group acquired 100 percent… Read More
ChrysCapital, an investment firm that focuses on growth sectors in India, has raised its stake in India-listed pharmaceutical manufacturer Ipca Laboratories by buying an additional 1.3 percent stake for around US$20 million. The purchase took place through open market transactions over the last few months. ChrysCapital had previously acquired a… Read More
Singapore-based energy, water and marine group Sembcorp Industries has signed agreements to acquire a 60 percent stake in India-based renewable energy company Green Infra from India-focused private equity firm IDFC Alternatives for INR10.6 billion (approximately US$170 million). The transaction will be structured through IDFC Private Equity Fund II and IDFC… Read More
Pan-emerging markets private equity firm Actis has committed US$230 million to create Ostro Energy, a renewable energy platform focused on India. Ostro Energy’s first project is Tejuva, a 50MW wind project already under construction in Rajasthan. Separately, Actis has launched Lekela Power, a US$1.9 billion pan-African renewable energy platform. Actis… Read More
Energy and infrastructure private equity fund manager Equis Funds Group has raised US$1.3 billion for two funds, reaching a close on Equis Asia Fund II with US$1 billion in capital commitments and a close on Equis Direct Investment Fund—a follow-on vehicle to Fund I—with US$300 million in commitments. Investors also… Read More
China-based social networking platform Renren has led a US$110 million Series D financing round for China-based second-hand car trading platform Cheyipai. Venture capital firms Sequoia Capital, Matrix Partners and Morningside Technologies and CITIC Capital, the private equity arm of CITIC Capital Holdings, also participated in the round. The company intends… Read More
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