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News From EMPEA Emerging Markets Private Equity Funds Raise over US$20 Billion in the First Six Months of 2007 Outlook for 2007: Record-Breaking Totals for EM Fundraising Industry News "General Atlantic to Buy 10 Percent of the Brazilian Commodities and Futures Exchange for BRL1 Billion" (Latin America and the Caribbean) "KKR Closes Tianrui Cement Financing" (Asia) "Starwood in US$1.25Bn Deal in India" (Asia) "Venture Capitalists Look for Clean Slate in China" (Asia) "AIG Private Equity Arm Renews Push Into Turkey" (Middle East) "VTB and DFJ Start a Partnership in Venture Investment in Russia and Other CIS Countries" (Central and Eastern Europe and Russia) "Dubai International Capital Acquires Significant Stake in UAE-based Rivoli Group" (Middle East) "Fund Stakes US$194 Million on Commercial Properties" (Africa) "Ithmar Capital Acquires Mushrif Trading & Contracting Company's New Shares" (Middle East) "Brait Buys Out Premier Foods for US$214 Million" (Africa) "Abraaj Capital Sells Its Majority Stake in Septech Holdings Limited at Significant Profit" (Middle East) "Indonesia's PT Perusahaan Pengelola Aset to Sell Stake in Bank Tabungan Pensiunan Nasional in November" (Asia)
News From EMPEA
Emerging Markets Private Equity Funds Raise over US$20 Billion in the First Six Months of 2007 Outlook for 2007: Record-Breaking Totals for EM Fundraising
Washington, D.C., September 19, 2007- 107 private equity funds focused
Industry News "General Atlantic to Buy 10 Percent of the Brazilian Commodities and Futures Exchange for BRL1 Billion" (Latin America and the Caribbean) Dow Jones Newswires (09/20/07) Stewart, Alastair U.S. private equity firm General Atlantic will acquire a 10 percent stake in the Brazilian Commodities and Futures Exchange (BM&F) for 1 billion Brazilian reals (US$534 million). BM&F is the fifth largest commodities and futures exchange in the world. Under the terms of the agreement, General Atlantic will not be able to sell its shares in the exchange for at least two years. Return to Headlines "KKR Closes Tianrui Cement Financing" (Asia) FinanceAsia (09/18/07) Anand, Sameera Private equity firm Kohlberg Kravis Roberts has closed its first deal in China, a US$115 million minority investment in Tianrui Cement. KKR has not specified the size of the stake, but media speculations place it at around 43 percent. As part of the deal, KKR helped Tianrui raise a mostly renminbi-denominated loan valued at US$335 million. Return to Headlines "Starwood in US$1.25Bn Deal in India" (Asia) Financial Times (09/18/07) Politi, James Starwood Capital has teamed up with Walton Street Capital to invest in a US$1.25 billion "township" project in Kolkata, India. The deal ranks as one of the biggest private equity transactions in the country's history. The two U.S. firms are equal partners in the venture, which also includes Indian developer Shriram Properties. The capital structure of the project is expected to evolve as development progresses. The deal is further proof of India's growing appeal to private equity groups like Warburg Pincus, which has been active in India for years, and Blackstone, which recently set up an office in the country. Return to Headlines "Venture Capitalists Look for Clean Slate in China" (Asia) San Francisco Chronicle (09/20/07) P. C1; Muscat, Sabine Environmental projects are now the third largest investment area for venture capitalists in China. According to research and investment institution Cleantech Group, clean technology investments in China increased from US$170million to US$420 million between 2005 and 2006 and are on pace to reach more than $600 million this year. One of the reasons for the increase is China's commitment to improve energy efficiency by 2010. In line with this goal, the government aims to increase the share of renewable energy used in the country to 10 percent of the total energy consumed by 2010 and to 15 percent by 2020. As a result, 70 percent of the venture capital investments in China's clean technology sector last year targeted solar energy. Other promising fields include wind generation, hydropower, and biofuels. Return to Headlines "AIG Private Equity Arm Renews Push Into Turkey" (Middle East) Wall Street Journal (09/24/07) Craig, Catherine AIG Capital Partners, the emerging markets private equity unit of AIG Investments, is making a renewed push into Turkey, where uncertainty over accession to the European Union and financial instability have hampered inroads into the buyout market. AIG has rehired Serkan Elden, the former director of AIG's Blue Voyage 2000 fund, which was launched in 2000 to make substantial private-equity investments in Turkey's consumer, entertainment, and industrial sectors. The fund closed in 2005 with only 30 percent of it capital committed after economic conditions in Turkey grew more challenging between 2002 and 2004. Elden will return to boost AIG's investment activity in Turkey. Return to Headlines "VTB and DFJ Start a Partnership in Venture Investment in Russia and Other CIS Countries" (Central and Eastern Europe and Russia) Russia Newswire (09/20/07) VTB, Russia's second largest bank, has entered into a partnership with venture capital firm Draper Fisher Jurvetson (DFJ) to create venture funds aimed at technology and engineering companies in Russia and other Commonwealth of Independent States. The first fund is currently being raised, with the goal being 3.61 billion Russian rubles (US$144 million). DFJ has offices in more than 30 cities around the globe and $5 billion under management. Return to Headlines "Dubai International Capital Acquires Significant Stake in UAE-based Rivoli Group" (Middle East) Maktoob Business (09/24/07) Dubai Holding investment arm Dubai International Capital (DIC) has acquired a "significant" stake in Dubai-based Rivoli Group, a luxury retailer which operates 215 stores in the Gulf region. DIC manages $7 billion in assets and says that the Rivoli acquisition is part of its strategy to support regional, family owned businesses with high growth potential. DIC did not disclose the size of the stake it acquired or how much it paid for that stake. Return to Headlines "Fund Stakes US$194 Million on Commercial Properties" (Africa) Business Daily Africa (09/21/07) Mbogo, Steve Knight Frank Group private equity unit Rutley Capital Partners will partner with ICEA Asset Management and Standard Bank to form a US$194 million fund that will primarily seek to acquire commercial properties across 11 countries in East and Central Africa. The fund plans to invest half of its portfolio in Kenya, where regulatory guidelines on portfolio holdings have necessitated the unloading of properties and where yields on property rents are among the highest in Africa. ICEA Asset Management is a wholly owned subsidiary of the Insurance Company of East Africa. Return to Headlines "Ithmar Capital Acquires Mushrif Trading & Contracting Company's New Shares" (Middle East) Emirates News Agency (09/18/07) Dubai-based Ithmar Capital has acquired a stake in Kuwait construction company Mushrif Trading & Contracting for US$97 million. Ithmar is a Gulf Cooperation Council-focused private equity firm that has more than US$500 million in investments under management, targeting growth capital and buyouts in the oil and gas, healthcare, and education sectors, among others. Return to Headlines "Brait Buys Out Premier Foods for US$214 Million" (Africa) Business Day (South Africa) (09/25/07) Mawson, Nicola Private equity firm Brait South Africa will participate in a management buyout of milling and baking company Premier Foods of South Africa for R1.5 billion (US$214 million). Premier Foods is wholly owned by the Foundation for African Business and Consumer Services (Fabcos) and has recovered from past losses that were due to the volatility of raw material prices, showing recent net profits. Brait says that it expects the turnaround to continue as consumer spending increases. The deal requires approval from South Africa's Competition Tribunal, which Brait expects by year's end. Return to Headlines "Abraaj Capital Sells Its Majority Stake in Septech Holdings Limited at Significant Profit" (Middle East) Al-Bawaba (09/17/07) Abraaj Capital of Dubai, a private equity firm specializing in the Middle East, North Africa, and South Asia, has sold its majority stake in UAE water and wastewater specialist Septech Holdings Limited, generating a 39 percent internal rate of return (IRR) over a three-year period. Since the takeover by Abraaj in 2004, Septech's scope of operations have increased significantly. In the six-month period ending in June, Septech posted a 114 percent year-on-year increase in revenues. The sale by Abraaj follows similar regional successes, including its exist from ONIC Holdings (generating an 84 percent IRR), Aramex (68 percent), and Amwal (101 percent). Return to Headlines "Indonesia's PT Perusahaan Pengelola Aset to Sell Stake in Bank Tabungan Pensiunan Nasional in November" (Asia) Asia Pulse (09/20/07) State-owned Indonesian asset management company PT Perusahaan Pengelola Aset expects to sell its 28.39 percent stake in local PT Bank Tabungan Pensiunan Nasional (BTPN) for US$200 million to U.S. private equity firm Texas Pacific Group and its partner, Northstar Pacific of Indonesia. The deal is expected to be finalized in November. Return to Headlines Abstract News © Copyright 2007 INFORMATION, INC. |
26 September 2007
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, please contact: To advertise, contact: Emerging Markets Private Equity Association  |