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News From EMPEA Registration for EM PE Forum in NY in March - Now Open! Industry News "GP Puts US$150 Million in Hotel Venture" (Latin America and the Caribbean) "Kuwaiti Fund to Control Turkey's FFK" (Middle East) "Alfa Capital Partners Becomes Shareholder of Restaurant Chain Yolky-Palky" (Central and Eastern Europe and Russia) "IDFC Invests US$65 Million in Goodearth Maritime" (Asia) "Abraaj Sells Stake in Maktoob" (Middle East) "Conduit Capital Announces Successful Exit from Three Portfolio Companies" (Latin America and the Caribbean) "Megastore Developer Scores US$140 Million Investment From Citi" (Central and Eastern Europe and Russia) "Zephyr Fund to Inject US$500 Million in Africa" (Africa) "Mekong Fund Invests in Card Manufacturer" (Asia) "Carlyle Invests US$21 Million in China Restaurant Chain" (Asia) "EIF to Launch EUR200 Million Fund of Funds Program for Turkey" (Middle East) "Blackstone to Invest in Ugandan Project" (Africa) "Pamodzi Acquires 60 Percent of Harmony's Uranium Assets for US$252 Million" (Africa) "Korea Funds Buy Stake in Semiconductor Parts Maker" (Asia) "KBC Private Equity Acquires Hungarian Toy Seller Gulliver" (Central and Eastern Europe and Russia) "Brazil Fund Seeks to Raise US$170 Million for Sugar, Ethanol Investments" (Latin America and the Caribbean)
News From EMPEA
Registration for EM PE Forum in NY in March - Now Open!
Registration for the Emerging Markets Private Equity Forum in New York, March 27-28, 2008 is now open: http://www.peimedia.com/emny08
Industry News "GP Puts US$150 Million in Hotel Venture" (Latin America and the Caribbean) Latin American Venture Capital Association (12/21/07) GP Investments will acquire a 100 percent stake in hotels Luxor Regente and Luxor Continental and a 25 percent stake in Luxor Copacabana, all in Rio de Janeiro, for a total of about US$150 million. The investments, says GP, were made to capitalize on growing tourism in the region. GP Investments has invested 42 percent of its US$1.3 billion GP Capital Partners IV Fund that closed in October. The fund is GP's first to include a mandate for regional investments beyond Brazil. Return to Headlines "Kuwaiti Fund to Control Turkey's FFK" (Middle East) Turkish Daily News Online (12/20/07) Kuwait-based Global Investment House has acquired a 60 percent stake in Fon Financial Leasing of Turkey for US$120 million. Fon is Turkey's largest non-bank leasing company. Global Investment has expressed interest in pursuing other deals in Turkey. Return to Headlines "Alfa Capital Partners Becomes Shareholder of Restaurant Chain Yolky-Palky" (Central and Eastern Europe and Russia) Prime-Tass Business Newswire (12/20/07) Russia-based Alfa Capital Partners has acquired a "significant" stake in the company that operates Russia's mid-priced restaurant chain Yolky-Palky. The chain, established in 1996, currently comprises 47 restaurants. Alfa Capital manages over US$700 million in assets, focusing on investments in the Commonwealth of Independent States. Return to Headlines "IDFC Invests US$65 Million in Goodearth Maritime" (Asia) Economic Times of India (12/21/07) Kurian, Boby India-based IDFC Private Equity has made its largest investment to date in India, acquiring a 15-20 percent stake in dry bulk shipping company Goodearth Maritime (GML) for US$65 million. GML owns and operates a fleet of six ships and has a pipeline of nine ships that are scheduled for delivery within the next three years. The investment in GML was made through IDFC's second fund. IDFC has about US$630 million in funds under management. Its previous investments include Gujarat State Petronet, Delhi International Airport, Gujarat Pipavav Port, Delhi Assam Roadways, and Moser Baer Photo Voltaics. Return to Headlines "Abraaj Sells Stake in Maktoob" (Middle East) Trade Arabia (12/30/07) Abraaj Capital has sold its stake in Maktoob.com, the most popular Internet portal in the Arab world. The stake was acquired in 2005 by the Abraaj Buyout Fund. The sale generated an internal rate of return of more than 75 percent. Return to Headlines "Conduit Capital Announces Successful Exit from Three Portfolio Companies" (Latin America and the Caribbean) Trading Markets (12/17/07) U.S.-based Conduit Capital Partners has sold its 100 percent stakes in Jamaica Energy Partners, Jamaica's first independent power company, and Mamonal, a thermal power plant located in Colombia, for a total of US$110 million. In addition, Conduit has announced that it has entered into a binding agreement to sell its 13.2 percent stake in Aguaytia, an integrated natural gas fired project located in Peru, in a deal expected to close within the next two months. Once the sale of Aguaytia is finalized, Conduit's Latin Power I Fund, which closed in 1993 with US$100 million in committed capital, will be fully liquidated. Latin Power I and Latin Power II, which closed in 1998 with US$157 million in committed capital, together invested in 18 projects; both funds have thus far returned two times the invested capital. Conduit Capital is now in the process of investing its US$393 million Latin Power III Fund. Return to Headlines "Megastore Developer Scores US$140 Million Investment From Citi" (Central and Eastern Europe and Russia) Kyiv Post Daily (12/26/07) Kudrevsky, Nazar Funds managed by Citi Venture Capital International and Citi Property Investors have signed an agreement to invest up to US$140 million in Karavan Real Estate Limited, a leading developer of shopping and entertainment centers in Ukraine. The first tranche of the investment has already been delivered. Karavan currently operates two retail and entertainment complexes in Ukraine and has plans to open more than 15 others by 2010. Return to Headlines "Zephyr Fund to Inject US$500 Million in Africa" (Africa) Guardian Unlimited (UK) (12/19/07) U.S.-based private equity firm Zephyr Management and Saudi billionaire Prince Alwaleed bin Talal, dubbed the Arabian Warren Buffett by Time magazine, aim to raise a US$500 Pan-African Investment Partners II Fund. The fund aims to make its first closing in February and to immediately start making investments. The fund will make a total of about 10 investments in various sectors, eyeing companies that either have a presence in multiple nations in Africa or have the potential to grow into other parts of Africa. Pan-African Investment Partners II's predecessor was launched in 2003 and closed with US$123 million in committed capital. It made five investments and thus far has sold two of them, generating more than threefold the invested capital. Return to Headlines "Mekong Fund Invests in Card Manufacturer" (Asia) Vietnam News (12/21/07) The Mekong Enterprise Fund II managed by Mekong Capital has invested US$4 million in MK Smart Joint-Stock Company, a leading card manufacturer in Vietnam, supplying corporate customers like banks and mobile phone operators. The investment is the fund's fifth since its launch in June. Mekong Capital focuses on investments in unlisted companies in Vietnam. Return to Headlines "Carlyle Invests US$21 Million in China Restaurant Chain" (Asia) Dow Jones Newswires (12/20/07) Back, Aaron The Carlyle Group has invested US$21 million in Chinese restaurant chain DIO F&B. The private equity firm says that the investment will help the chain expand the number of restaurants under its DIO Coffee brand from about 300 now to 1,0000 within five years. Carlyle has made a number of small investments in private Chinese companies, including the acquisition of a 19.9 percent stake in China Pacific Insurance, China's third largest insurer. Return to Headlines "EIF to Launch EUR200 Million Fund of Funds Program for Turkey" (Middle East) AltAssets.com (12/18/07) A new fund of funds dedicated to investments in Turkey has been launched by the European Investment Fund, the Technology Foundation of Turkey, the SME Development Organisation of Turkey, and the Development Bank of Turkey. The fund, called the Istanbul Venture Capital Initiative, held its first closing in November with EUR150 million in committed capital. The fund's target is EUR200 million. Return to Headlines "Blackstone to Invest in Ugandan Project" (Africa) Wall Street Journal (12/18/07) P. C4; Cimilluca, Dana Sithe Global Power, a power-development company owned by Blackstone Group LP, has agreed to invest up to US$110 million in a US$872 million hydroelectric station on the Nile River near Lake Victoria that will more than double electrical capacity in Uganda. The project is scheduled for completion by 2011. Return to Headlines "Pamodzi Acquires 60 Percent of Harmony's Uranium Assets for US$252 Million" (Africa) Reuters (12/19/07) Macharia, James South Africa-based Pamodzi Investment Holdings has acquired a 60 percent stake in a new uranium venture launched by Harmony Gold of South Africa, the world's fifth largest gold producer, for US$252 million. The new venture will build a plant to produce uranium as a by-product of gold mining with an aim at capitalizing on heightened interest in nuclear power as an alternative energy source. Pamodzi says that it sees future investment opportunities in coal, iron ore, and platinum ventures. Return to Headlines "Korea Funds Buy Stake in Semiconductor Parts Maker" (Asia) Reuters (12/17/07) KTB Network and Vogo Fund have jointly acquired a 49 percent stake in South Korea-based semiconductor parts maker Siltron from Dongbu Steel for US$761 million. KTB Network is a South Korean venture capital firm. Vogo Fund is one of a new breed of homegrown private equity funds in South Korea. Return to Headlines "KBC Private Equity Acquires Hungarian Toy Seller Gulliver" (Central and Eastern Europe and Russia) Forbes (12/20/07) KBC Private Equity, a unit of Belgian financial services group KBC NV, has acquired Hungarian toy wholesaler Gulliver for an undisclosed sum. Gulliver operates 15 retail stores and distributes the major international toy brands on the Hungarian market. Return to Headlines "Brazil Fund Seeks to Raise US$170 Million for Sugar, Ethanol Investments" (Latin America and the Caribbean) Dow Jones Newswires (12/27/07) Hoyl, Juliana DGF Investimentos of Brazil has launched the Terra Viva Fund aimed at raising US$170 million for investments in Brazilian sugar and ethanol assets to take advantage of growing interest in the alternative fuels market and the fragmentation of the sugar and ethanol sectors in Brazil. The fund will focus on sugarcane processing companies in Brazil's north and northeast regions as well as associated technology and logistics service providers. Return to Headlines Abstract News © Copyright 2008 INFORMATION, INC. |
2 January 2008
Emerging Markets Private Equity NewsWatch provides a selection of noteworthy articles pertaining to private equity investing in emerging markets and is distributed weekly to a wide audience. The Emerging Markets Private Equity NewsWatch is a publication of the Emerging Markets Private Equity Association. For more information on EMPEA and advertising inquiries, please contact: Emerging Markets Private Equity Association  |