IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, is exiting its five-year old investment in India-based natural gas distributor Maharashtra Natural Gas (MNGL) to India-based compressed natural gas supplier Indraprastha Gas (IGL). IGL will acquire up to a 50 percent stake in MNGL for INR1.9 billion… Read More
China-focused venture capital firm IDG Capital Partners has led a US$100 million Series B financing round for China-based online grocer Womai.com, with participation from an existing backer, Asia-focused private equity firm SAIF Partners. With operations in Beijing and Shanghai, Womai specializes in selling imported products directly to Chinese consumers… Read More
Global investment and advisory firm The Blackstone Group has announced that Black Rhino, a South Africa- and Senegal-based infrastructure development company backed by Blackstone Energy Partners and affiliated funds, will partner with West African industrial conglomerate Dangote Industries to jointly invest up to US$5 billion over the next five… Read More
Asia-focused alternative investment fund manager PAG will raise approximately HKD1.7 billion (approximately US$219 million) through the sale of 130.7 million shares in China-based financial services conglomerate Haitong Securities. PAG acquired 219.7 million shares in Haitong for US$300 million in the company’s April 2012 IPO and sold 89 million shares… Read More
Indian e-commerce platform Flipkart has raised US$1 billion in a new funding round co-led by existing investors alternative investment firm Tiger Global and global internet services company Naspers. Singapore’s sovereign wealth fund GIC, Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management and Sofina also participated in the… Read More
Private equity investment group Apax Partners will invest INR5 billion (approximately US$83 million) in Cholamandalam Investment & Finance Company (CIFCL), the financial services arm of India-based conglomerate Murugappa Group. Apax will subscribe to 50 million compulsorily convertible preference shares, which hold a face value of INR100 (approximately US$1.67) per… Read More
Alternative investment firm Bain Capital has sold one-third of its stake in India-listed motorcycle and scooter manufacturer Hero MotoCorp for about US$250 million. The shares were sold on 13 June 2014 to investors in the United States, Europe and Asia at an average price of INR2,627 (approximately US$44) per… Read More
China-based online shopping platform and social network Mogujie has raised US$200 million in a Series D financing round led by private equity firms Hopu Investment Management and Trustbridge Partners. Existing investors venture capital firms Qiming Venture Partners and IDG Capital Partners also participated in the round, which valued the… Read More
Private equity firms The Carlyle Group, Signet Healthcare and OrbiMed have partially exited their investment in India-based pharmaceutical company Claris Lifesciences by participating in the company’s buyback offer. Claris Lifesciences offered a buyback issue worth INR2.3 billion (approximately US$39 million) in March 2014. The buyback was offered at a… Read More
Private equity firms Yunfeng Capital and CITIC Private Equity have agreed to invest at least RMB2 billion (approximately US$325 million) in an unlisted farming subsidiary of Shanghai-listed dairy producer Inner Mongolia Yili Industrial Group. Post-transaction, the two private equity investors will together hold a 60 percent stake in Yili… Read More
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