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
Southeast Asia-focused oil and gas company KrisEnergy, which is backed by global private equity and infrastructure investment firm First Reserve, closed its first day of trading on the Singapore Exchange (SGX-ST) at SGD1.155 (approximately US$0.91) per share, a five percent increase from its offering price of SGD1.10 (approximately US$0.87). Read More
China-focused private equity firm Hony Capital has divested its entire holding in Jiangsu Phoenix Publishing & Media (Phoenix). Hony acquired 150 million shares in Phoenix for RMB481 million (approximately US$77.8 million) in May 2008, and in May 2013, began the divestment process, selling 25 million shares of Phoenix for… Read More
Southeast Asia-focused private equity buyout firm Southern Capital Group (SCG) has reportedly closed its third fund with US$408 million in commitments, surpassing its target of US$350 million. SCG targets middle market businesses with enterprise values of between US$20 million and US$200 million. SCG’s prior funds include Mulberry Asia Fund… Read More
China New Enterprise Investment (CNEI), a China-focused growth capital fund manager, has invested US$9.7 million in Zhanjiang Newpro Foods (Newpro), a China-based company involved in the breeding, culturing, farming and processing of prawns. Along with the investment, CNEI has introduced international experts to Newpro for future breeding of pathogen-free… Read More
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