Khalid Quadir is Chief Executive Officer and Founding Partner of Brummer & Partners (Bangladesh), which manages the Bangladesh-focused Frontier Fund. Khalid makes the case for investing in Bangladesh via private equity and highlights some of the unique challenges to being a first mover in this market. Brummer & Partners AB… Read More
Asia-focused private equity firm SAIF Partners has invested in Womai.com, a China-based food and grocery e-commerce platform owned by Chinese food conglomerate COFCO. The investment was reported to be greater than US$10 million. Womai.com, which sells packaged food products such as snacks, infant foods and beverages, intends to use… Read More
Asia-focused buyout fund manager Affinity Equity Partners has acquired a 52.6 percent stake in South Korea-based Leon Entertainment, a record label and digital music platform, for KRW265.9 billion (approximately US$237.7 million). Affinity bought the stake from SK Planet, a subsidiary of mobile service provider SK Telecom. As a result,… Read More
India-focused investment manager Everstone Capital has agreed to acquire a 15 percent stake in Hinduja Leyland Finance (HLF), a commercial vehicle financing arm of the India-based business conglomerate Hinduja Group, for INR2 billion (approximately US$33.6 million). HLF, a non-banking financial company jointly owned by commercial vehicle manufacturer Ashok Leyland… Read More
Venture capital firm Sequoia Capital China has led a US$30 million Series B investment round in Rong360.com, a Chinese online search engine that allows users to compare private lending products. Three venture capital funds from Rong360’s 2012 Series A round—Lightspeed China Partners, KPCB China and Zero2IPO Venture—also participated in… Read More
Private equity firm Providence Equity Partners will increase its stake in India-based cable broadband service provider Hathaway Cable & Datacom by jointly acquiring a 3.55 percent stake for INR1.5 billion (approximately US$25.2 million) with the Raheja Group, Hathaway Cable & Datacom’s promoter group. Providence will contribute INR1.1 billion (approximately… Read More
Multiples Alternate Asset Management, a private equity firm specializing in mid- to late-stage equity investments, has acquired a controlling stake in India-based hospital chain Vikram Hospital for INR1.8 billion (approximately US$30.2 million) to INR1.9 billion (approximately US$31.9 million). As part of the transaction, Multiples bought ICICI Venture Funds Management’s… Read More
India-focused investment manager Baring Private Equity Partners India (Baring PE India) has acquired an additional one percent stake in Manappuram Finance, a non-banking financial company involved in gold finance that is listed on both the National Stock Exchange of India and the Bombay Stock Exchange, via open market transactions. Read More
Global investment and advisory firm The Blackstone Group (Blackstone) has agreed to buy a 98 percent stake in India-based automobile parts maker Agile Electric Sub Assembly (Agile Electric) for INR3.32 billion (approximately US$56 million). The transaction prompts Blackstone to make a tender offer for a 26 percent stake in… Read More
India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) has exited its 19.3 percent stake in Bharat Fritz Werner (BFW), a tool manufacturing company with facilities in India and Germany, for INR711.9 million (approximately US$11.8 million). IIML has reportedly generated an internal rate of return of 15 percent… Read More
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