The Competition Commission of India has approved Mauritius-based financial services company Destimoney Enterprises’ proposed sale of its Indian arm to Quality Investment Holdings, an entity controlled by alternative asset manager The Carlyle Group, for a reported US$200 million. Carlyle will acquire a 100 percent stake in Destimoney Enterprises’ Indian arm. Read More
India-focused private equity firm InvAscent has invested INR920 million (approximately US$15 million) across two India-based medical device companies: Comprehensive Prosthetics and Orthotics (CPO), a manufacturer of artificial limbs, and Relisys, a manufacturer of medical devices that treat life-threatening diseases. The transactions were structured through India Life Sciences Fund II. InvAscent… Read More
Thank you for sharing your thoughts and comments on issues of concern to you and opportunities identified in the EMPEA Legal & Regulatory Bulletin. Your thought leadership and participation through the Bulletin and EMPEA’s other delivery channels inform EMPEA’s engagement with government policymakers and regulators. To deepen that engagement, in… Read More
Global pharmaceutical company Mylan has signed a definitive agreement to acquire certain female health care businesses from India-based oral contraceptive pill manufacturer Famy Care for US$750 million, plus additional contingent payments of up to US$50 million, facilitating an exit for Asia-focused private equity firm AIF Capital. AIF Capital originally invested… Read More
South Korea-focused private equity firm Hahn & Company has held a final close on its second South Korea buyout fund with US$1.2 billion in capital commitments, reaching the fund’s hard cap. The final close came in the first week of December. Hahn & Company also raised a separate US$700 million… Read More
China-focused private equity firm CITIC Private Equity and water treatment company Beijing Enterprises Water Group have agreed to acquire a majority stake in Hong Kong-listed cigarette package maker Jin Cai Holdings for approximately HKD3.75 billion (approximately US$484 million). The transaction will be structured through CITIC Private Equity Funds II and… Read More
Introduction1 There appears to be a recent trend in Indian PE circles with increasing number of PE players raising (or planning to raise) offshore funds which are able to invest in rupee denominated non-convertible debt in India (“NCDs”) along with equity. What is this reason for this? With Indian equity markets looking up, is this… Read More
India-focused private equity fund manager IL&FS Investment Managers (IIML) has reached a first close on Tara India Fund IV with US$40 million in capital commitments. IIML is reportedly targeting US$75 million for the sector-agnostic fund. Read More
Southeast Asia-focused private equity firm Navis Capital Partners has closed its seventh private equity vehicle with US$1.5 billion in capital commitments. The fund, which had originally targeted US$1.25 billion, reached a US$860 million first close in December 2013. The final close included the addition of a shariah-compliant parallel vehicle. The… Read More
Clearwater Capital, an investment firm focused on credit and special situations in Asia, has partially exited India-based Oricon Enterprises by selling 850,000 shares on 14 January and 4.5 million shares on 29 January through open market transactions on the Bombay Stock Exchange. Clearwater returned INR40.4 million (approximately US$650,000) and INR223… Read More
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