EMPEA Research Recently Released

EMPEA Industry Statistics Q3 2011 PPT
EMPEA Industry Statistics Q3 2011 XLS
Private Equity Fundraising for Emerging Markets Returns to Pre-Crisis Levels
Martin Poulsen
African Development Bank (AfDB) is a regional multilateral development bank, the goal of which is to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent’s economic and social development. Martin Poulsen joined AfDB in September 2009 as Chief Private Equity Officer in the Private Sector and Microfinance Department.

Umeme
With support from Actis, Umeme, which distributes electrical power to households and businesses in Uganda, has added more than 100,000 new customers and is currently connecting over 50,000 more customers every year.

KESC
Karachi Electric Supply Company (KESC) is an electric power generation, transmission and distribution company. Backed by Abraaj Capital, KESC developed a business model that reduced transmission losses by 8 percent and added 1,000 MW of power to Karachi's grid over three years.

Jamna Auto
Jamna Auto, a commercial vehicle components manufacturer, through investments by Clearwater Capital Partners, has transformed from a loss-making business to a company generating US$25 million in EBITDA, and growing each year.

Banro
In 2005, Cordiant Capital invested in Banro Corporation, a gold exploration and development company active in the Democratic Republic of the Congo, through a US$13 million PIPE transaction. Since Cordiant's investment, Banro has been awarded 14 exploration permits covering highly prospective ground and it is now one of the largest private employers in eastern DR Congo.

China Fishery
China Fishery, leveraging The Carlyle Group's global network, embarked upon a structured growth through acquisition strategy. China Fishery now has operations in a number of sustainable fishing grounds in the Pacific Ocean and continues to work with Carlyle to enhance its sustainable fishing practices.

Zabka
With support from PineBridge, Zabka developed over 1,400 stores and increased its revenues from US$50 million in 2000 to roughly US$400 million in 2007. It is now one of the largest convenience store networks in Europe.

Bonbonetti
Bonbonetti, a Hungary-based confectionery, was stifled by break-even EBITDA and unsustainable debt ratios. Through an investment by EMSA Capital (supported by EBRD), Bonbonetti streamlined its operational and financial processes, and controlled leverage to ensure it became cash flow positive.

NEOgás
In April 2005, Global Environment Fund took a 75 percent stake in NEOgás, a provider of compressed natural gas service to off-pipeline customers, and immediately helped the company seize the opportunity to expand into new markets.

Modern Dairy
With support from Kohlberg Kravis Roberts & Co. L.P. (KKR), Modern Dairy, the largest dairy farm in China, has implemented a range of management and operational systems in line with global best practices. Since KKR's investment in FY 2008, Modern Dairy's revenues have grown to US$172 million, representing a CAGR of 82 percent.

Newpack
Following its acquisition by I&P Management Ltd., Newpack invested US$220,000 in sustainability initiatives, which generated US$539,000 in revenue for the firm. With I&P's assistance, Newpack penetrated new markets and drove top-line revenue growth, all while compensating its employees 30 percent above minimum wage. This is our second IFC Sustainability Case Study.

EM PE Quarterly Review-VolumeVII-2-July 2011
Exclusive EMPEA Members-Only Research. Featured articles include: The New Investment Climate in Emerging Markets: Highlights from the 13th Annual GPEC; Unlocking African Pension Capital for Private Equity; A Primer on Regulation 28 (South Africa) (Expert Commentary by SAVCA); Inside Perspectives: An Interview with Macquarie's Robert Thorpe; The Impact of Private Equity in Emerging Markets Case Study: Cogitel

EMPEA Insight: Local Pension Capital in Latin America (July 2011)
Across the emerging markets, regulatory changes are gradually enabling domestic institutional investors—particularly pension funds—to commit capital to private equity. Through market profiles of Brazil, Colombia, Peru, Mexico and Chile, this report examines local pension fund participation in the asset class in Latin America, both to provide a guide to where potential pools of capital reside for GPs, and to demonstrate emerging models for greater domestic institutional investor involvement.

Webcast: MENA Region - An Overview and Update
The geopolitical turbulence in the MENA region has created new challenges for investors. Yet many believe that the recent chain of events in the region could result in more stable, faster-growing economies that will present private equity players with compelling investment opportunities and more investor-friendly regulatory regimes. Join industry leaders from Abraaj Capital to learn more about how today's headlines may be laying the foundations for tomorrow's great returns.