BlackRock and Global Infrastructure Partners (GIP) have signed a definitive agreement for a stock and cash deal. BlackRock will acquire GIP for $12.5 billion (around INR 1,00,000 crore) which will make the world’s largest asset manager as one of the biggest players in alternative assets and private markets. BlackRock will buy GIP in $3 billion cash and roughly 12 million BlackRock shares to create an infrastructure investing platform with more than $150 billion in combined assets. Founded in 2006, GIP manages more than $100 billion in assets and its portfolio includes Britain’s Gatwick airport, the Port of Melbourne and offshore wind projects. GIP Chairman and Managing Partner Bayo Ogunlesi will join BlackRock’s board of directors following closure of the deal.
- Private Equity
Saudi SWF Public Investment Fund Strikes First 2024 Bet in MENA Paper Industry
Saudi Arabia’s sovereign investor Public Investment Fund (PIF) has struck a bet for minority stake in a paper manufacturing and recycling company. PIF has started the year by acquiring 23.08% in the Middle East Paper Co for an undisclosed amount.
(Source: VC Circle, 4th January 2024)
Brookfield To Acquire ATC’s India Telecom Tower Business For $2.5 Bn
Data Infrastructure Trust, an Indian infrastructure investment trust sponsored by Brookfield Asset Management Inc., has signed an agreement to acquire American Tower Corp’s operations in India for a total of $2.5 billion (around INR 21,000 crore).
(Source: VC Circle, 5th January 2024)
Tech Firm Impact Analytics Raises $40 Mn From Sageview Capital
Retail software-as-a-service analytics firm Impact Analytics has raised $40 million (around INR 332 crore) in growth financing led by American Investment firm Sageview Capital.
(Source: VC Circle, 9th January 2024)
Abu Dhabi Wealth Fund ADQ Signs Deal For Stake In Egypt Luxury Hotels
Abu Dhabi wealth fund ADQ has agreed to acquire a 40.5% stake in ICON, the hospitality arm of Egypt’s Talaat Moustafa Group (TMG).
(Source: VC Circle, 15th January 2024)
Listed Gaming Platform Nazara Tech Raises $30 Mn
Publicly listed online gaming and e-sports company Nazara Technologies Ltd. has raised $30 million (around INR 250 crore) from Nikhil Kamath-Kamath Associates, NKSquared, and Plutus Wealth Management.
(Source: VC Circle, 17th January 2024)
- Venture Capital
Hospitality Chain Vro Secures $10 Mn In Bridge Round
Fine dining chain operator Vro Hospitality has raised $10 million (around INR 83 crore) in a bridge financing round, led by Axis Bank and Gruhas. Round also saw participation from NB Ventures and angel investors Kunal Shah and Mouni Roy.
(Source: VC Circle, 3rd January 2024)
Medway Hospitals Secures Maiden Funding From Kyra Ventures
Chennai-based multispecialty chain Medway Hospitals has raised $5 million
(around INR 41 crore) in its first round of institutional equity funding led by
Kyra Ventures.
(Source: VC Circle, 4th January 2024)
Fintech Platform Grip Invest Snags $10 Mn From Multiple Investors In Series B Round
Fixed income platform Grip Invest has raised $10 million (around INR 83 crore) in a Series B funding round. Round which saw a mix of equity and debt investments was led by Stride Ventures.
(Source: VC Circle, 9th January 2024)
Edtech Startup ConveGenuis Snags $7 Mn
Artificial Intelligence based ed-tech startup ConveGenuis has raised $7 million (around INR 58 crore) in a funding round from a host of investors including UBS Optimus Foundation and Mount Judi Ventures.
(Source: VC Circle, 11th January 2024)
Malaysia’s Khazanah Bets On QSR Chain Wow! Momo As Early Backers Exit
Khazanah National Berhad, the sovereign wealth fund of Malaysian Government, has led a $49 million (around INR 410 crore) round of investment in Indian quick-service restaurant chain Wow! Momo.
(Source: VC Circle, 17th January 2023)
- Mergers & Acquisitions
Pharma Packaging Firm Ansapack Makes Acquisition In Folding Carton Business
Ansapack Pvt Ltd’s folding carton arm, Ansa Folding Carton has acquired a strategic stake in Mumbai-based Rich Printers Pvt Ltd for an enterprise value of $14 million (around 117 crore).
(Source: VC Circle, 2nd January 2024)
GIC Backed Amber Group Acquires Majority Stake In Ascent Circuits
Listed homegrown business-to-business electronics manufacturing services provider Amber Enterprises’s Iijin Electronics has acquired 60% stake in printed circuit board maker Ascent Circuits for an undisclosed amount.
(Source: VC Circle, 3rd January 2024)
KKR-Controlled IndiGrid Inks $199 Mn Deal To Acquire Solar Asset
Indi Grid Trust (IndiGrid), an infrastructure investment trust controlled by private equity firm KKR, has struck a deal with US-listed firm green energy firm ReNew Power to buy a 300MW solar power project in Rajasthan. IndiGrid will acquire the asset for an enterprise value of $199 million (around 1,650 crore).
(Source: VC Circle, 9th January 2024)
Apax-Backed IBS Software To Acquire Florida-Based APS For $90 Mn
Apax Partners backed IBS Software will acquire US-based hotel and travel technology provider Above Property Services (APS) for $90 million (around INR 748 crore).
(Source: VC Circle, 16th January 2024)
Nazara-Owned Nodwin Gaming To Acquire Comic Con India
Nazara Technologies –owned Nodwin Gaming has agreed to acquire 100% stake in Comic Con India, which hosts pop cultural festivals in India, for $6.65 million (around INR 55 crore).
(Source: VC Circle, 24th January 2024)
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