"GEF Completes Fundraising for Africa Sustainable Forestry Fund" (Sub-Saharan Africa)
Global Environment Fund (01/26/2012)
Global Environment Fund (GEF) has completed the final closing for the GEF Africa Sustainable Forestry Fund (ASFF). The fund closed with US$160 million in total commitments, exceeding its original US$150 million target. The ASFF will invest primarily in existing plantations throughout Sub-Saharan Africa, including Gabon, Ghana, Malawi, Mozambique, South Africa, Swaziland, Tanzania, Uganda and Zambia. The fund may also invest in new plantations or natural forest concessions.
"WAMEX Private Equity Makes a Closing at US$145 Million for Mexico Fund MIF II" (Latin America and the Caribbean)
WAMEX Private Equity (01/23/2012)
Mexico-focused WAMEX Private Equity has announced a follow-on closing of its Mexico growth equity fund MIF II. The fund most recently raised US$45 million via its CKD-listed vehicle, a structure through which local pension funds can invest in private equity. Total commitments for MIF II now stand at US$145 million. MIF II has made three investments to date in local companies focused on tourism, healthcare and the environmental sector.
"Emerging Capital Partners Exits Investment in Ivory Coast-based Housing Developer" (Sub-Saharan Africa)
Emerging Capital Partners (01/31/2012)
Pan-Africa-focused private equity manager Emerging Capital Partners (ECP) has fully exited its 24.9 percent stake in Ivory Coast-based Batim Africa, a company focused on land development and housing construction. The divestment follows the acquisition of 92 percent of the shares of Batim Africa’s holding company Colina Group to Moroccan insurance firm Saham Group. The transaction reportedly represents a return of 1.5 times ECP’s initial investment, which was made via its Central Africa Growth Sicar (CAGS) Fund.
"Actis Invests US$102 Million in Leading Brazilian University" (Latin America and the Caribbean)
Actis (01/23/2012)
Emerging markets-focused private equity investor Actis has invested US$102 million to acquire a minority stake in Brazil’s University Cruzeiro do Sul Educacional. With a total of 36,000 students across eight sites, the University consists of three institutions: the University Cruzeiro do Sul (São Paulo-SP), Centro Universitário do Distrito Federal (Brasília-DF) and Centro Universitário Módulo (Caraguatatuba-SP). This transaction marks Actis’s fourth investment in Brazil in 18 months.
"PIC, FMO and DEG Invest in Lereko Metier Sustainable Capital Fund" (Sub-Saharan Africa)
DEG (01/30/2012)
South African investment manager Public Investment Corporation (PIC), German development finance institution DEG, and the Netherlands Development Finance Company (FMO) are among the first investors in the Lereko Metier Sustainable Capital Fund (LMSC). LMSC, managed by South Africa-based fund manager Lereko Metier, will target equity investments in the renewable energy, energy efficiency, water and waste sectors in Southern Africa. The value of their commitments is unknown.
"Comtec Solar to Repurchase Bonds from TPG for US$77 Million" (Asia)
AVCJ (01/26/2012)
Chinese solar wafer manufacturer Comtec Solar will reportedly repurchase convertible bonds valued at RMB491 million (US$77 million) from global private equity firm TPG. Comtec is repurchasing the bonds in order to reduce debt levels and comply with financial covenants. TPG first announced its intention to invest up to US$150 million in Comtec in April 2011 via convertible bonds and warrants for an approximate 21 percent stake in the company.
"NBK Doubles Money as Fundraising Looms" (MENA)
PEI (01/16/2012)
NBK Capital, the investment banking subsidiary of the National Bank of Kuwait (NBK), has sold its 40 percent stake in Saudi Arabian fleet leasing and car rental group Hanco. The transaction, which has reportedly generated a return of 2 times its invested capital for NBK Capital, values Hanco at US$140 million. NBK Capital originally invested in the company through its NBK Capital Equity Partners Fund I, a private equity vehicle focused on MENA and Turkey.
"Alothon Group Invests in Brazilian Industrial Laundry Company Atmosfera" (Latin America and the Caribbean)
Business Wire (01/19/2012)
Alothon Group, a private equity firm focused on mid- to late-stage buyouts in Latin America, and principally Brazil, announced that it has invested in Brazilian industrial laundry company Atmosfera Gestão e Higienização de Têxteis. Alothon joins global private equity firm Advent International as an investor in the company. Details of the transaction were not disclosed.
"Duet, Vasari Partner for Ethiopia’s Largest Private Equity Deal" (Sub-Saharan Africa)
AltAssets (01/27/2012)
Global alternative asset management firm Duet Group and private equity firm Vasari Global, both U.K.-based, have partnered with Ethiopian endowment fund TIRET Group to invest in Ethiopia’s Dashen Brewery. The investment was structured as an equity injection from the newly-created venture Duet Beverages Africa company, which will be managed by the Duet Africa Private Equity team with Vasari serving as the company’s industrial partner. Proceeds of the transaction will be used to expand the company’s capacity and enhance distribution channels. Details of the transaction were not disclosed.
"Tano’s Second India Fund Reaches Final Close at US$111 Million" (Asia)
AVCJ (01/26/2012)
Alternative asset management firm Tano Capital has reached a final close of US$111.3 million for its second India-focused private equity fund. Targeting investments of US$10 million to US$20 million, Tano India Private Equity Fund II is sector agnostic. The fund’s original target was US$100 million to US$150 million.
"OpenGate Capital Acquires Latin American Technology Business from KPN" (Latin America and the Caribbean)
Dow Jones Private Equity News (01/25/2012)
U.S.-based global private equity firm OpenGate Capital has announced its plans to acquire the Latin American operations of global information and communications technology service provider Getronics International, a subsidiary of Dutch telecommunications and technology company KPN. The acquisition consists of three separate country-wide operations located in Brazil, Mexico and Colombia. The value of the transaction was undisclosed.
"CLSA Capital Partners Invest in Chinese Spandex Maker" (Asia)
Greater China Private Equity Review (01/31/2012)
CLSA Capital Partners, the alternative asset-management arm of CLSA Asia-Pacific Markets, has invested RMB250 million (US$40 million) for a minority stake in Zhejiang Artex Fiber, a China-based producer and distributor of branded spandex. The investment was made through CLSA Capital Partners’ ARIA Investment Partners III fund, a pan-Asian private equity fund focused on growth and expansion capital to middle market companies. CLSA Capital Partners is the sole investor in this round of equity financing, following the first investment Artex Fiber received from the Japanese conglomerate Itochu Corporation in 2008.