Blackstone bets on African infrastructure and power

Blackstone has backed Black Rhino, an African infrastructure development company. The business was set up to develop and operate large-scale infrastructure projects across Sub-Saharan Africa with a focus on the energy sector.


ArcLight to construct new crude oil systems

ArcLight Capital Partners‘ portfolio company Republic Midstream has partnered with Penn Virginia Corporation to construct and operate a crude oil gathering system, a central delivery terminal complex and an intermediate takeaway pipeline. ArcLight has committed $400 million to Republic Midstream, which will be managed by two of ArcLight’s experienced midstream portfolio companies, American Midstream Partners and JP Energy Partners LP.


South Africa boosts venture capital with tax regime changes

Two proposed changes to the Income Tax Act in South Africa will have a positive impact on the venture capital industry and stimulate investment into privately owned entrepreneurial businesses in South Africa. A higher investee asset threshold, as well as a permanent investment deduction, will increase the appeal of venture capital as an investment asset class, at the same time giving a boost to small business development and job creation.


CCMP Capital Advisors acquires Solvay’s Eco Services business

CCMP Capital Advisors has acquired Solvay‘s Eco Services business unit in a transaction valued at $890 million. Eco Services recycles spent sulfuric acid for continuous supply to the oil refining industry and manufactures high quality virgin acid products for broad industrial applications including mining, water treatment and other chemical processes.


Leeds Novamark backs Commercial Foodservice Repair

Leeds Novamark Capital has backed Commercial Foodservice Repair to support its acquisition of Foodservice Technologies. Headquartered in Greenville, South Carolina, CFR is a provider of foodservice equipment maintenance and repair services to convenience stores, restaurants, retailers, and other foodservice channels.


Trilantic/First Reserve portfolio company acquires Granite Wash assets

Newfield Exploration Company is selling its Granite Wash assets to Trilantic/First Reserve portfolio company Templar Energy. The value of the transaction is $588 million. Newfield’s assets in the Granite Wash include approximately 42,000 net acres and current net daily production is nearly 65 MMcfe/d, of which approximately 60% is natural gas.

First read march 11

peHUB First Read

Today, First Read brings you news of KKR’s Infrastructure II fund, myths about Asian venture capital, New York State Insurance Fund hiring for a special investment officer and buyout shops that are preferring to spread the wealth amongst themselves.

Carlyle results – Euro PE performance strong

The Carlyle Group has released its unaudited results for the second quarter of 2014. European private equity investments performed well for the group with Carlyle Europe Partners III appreciating 47 percent over the past year.


ABODO raises $1.25 mln Series A

Online rental marketplace ABODO has closed $1.25 million in Series A financing, led by American Family Ventures. Also joining the round are 4490 Ventures and Lakewest Venture Partners.


JinkoSolar secures $225 mln led by CDBI and Macquarie

JinkoSolar Holding has secured backing from China Development Bank International, the Macquarie Greater China Infrastructure Fund, a fund managed by Macquarie Infrastructure and Real Assets and New Horizon Capital. Total funding amounts to $225 million.

Mercia’s Oxford Genetics secures further funds

Technology investor Mercia Fund Management portfolio company Oxford Genetics Ltd, has secured further funds. Oxford Genetics is the biotechnology company behind SnapFast™ – a system that simplifies the purchase of synthetic DNA molecules (plasmids).


Charterhouse sells BvD to EQT

Charterhouse Capital Partners has sold Bureau van Dijk Electronic Publishing to EQT VI. Founded in 1991 in the Netherlands, Bureau van Dijk is a global publisher of financial and commercial information. Charterhouse Capital Partners will retain a minority stake in BvD. Goldman Sachs Principal Investment Area will acquire a minority stake in the company. Ashurst advised Charterhouse in connection with the sale.

First Read

peHUB First Read

This morning First Read brings you links to the most consistent performing private equity fund managers of 2014, how early stage 2012 vintage is doing, CalPERS big movers in 2013 and a look at market and regulatory developments in the US versus Europe.

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