The Carlyle Group has generated proceeds of approximately INR70.3 billion ($951 million) through a partial exit from SBI Cards & Payments, the State Bank of India's (SBI) credit card issuing arm, through a recent IPO.
The private equity firm sold around 93.2 million shares for INR755 apiece, reducing its holding from 26% to 16%. The partial exit implies a return multiple of 8x on the initial investment. SBI continues...
KKR has offered to acquire up to 9% of First Gen Corporation, a power plant operator in the Philippines, for PHP7.29 billion ($144 million).
Japan’s Beyond Next Ventures has led a JPY800 billion ($7.4 million) Series A round for local cell-based agricultural technology specialist IntegriCulture.
Chinese drug developer Jiangsu Atom Bioscience & Pharmaceutical has raised $30 million in Series B funding led by Sequoia Capital China and Hong Kong-listed Livzon Pharmaceutical Group.
Hillhouse Capital has led an extended Series A round of funding worth $50 million for Deepexi, a Chinese start-up that provides a suite of smart data services to enterprise customers.