Actis Exits 75% Stake in Indonesia’s SIS Group to Adivira Capital; Advent International Deal Case

13 March 2024
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Advent International | GHL Hotels

GPCA Deal Book: Inclusive & Sustainable Growth

#DealCases

In September 2022, Advent International invested in GHL Hotels, a Colombia-headquartered third-party hotel operator with 62 properties in Colombia, Perú, Chile, Argentina, Ecuador, Central America and Spain.

With Advent's support, the company created development initiatives as a screening process for locals to potentially work with GHL. Many of these initiatives target women to increase gender parity in the company's workforce. As of September 2023, 43% of its 4,300 employees identify as female. GHL also aims to enhance environmental sustainability by cutting single-use plastic bottles by 50%, eliminating plastic straws and ensuring 100% of its cleaners are biodegradable by year-end. The company's Blue Initiative Program encourages guests to reuse linens, resulting in a 6% energy and 7% water consumption reduction in 2022.

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GPC Conference 2024

25-27 March | Conrad New York Downtown

#GPCAEvents

GPCA's  Global Private Capital Conference in partnership with IFC will convene on 25-27 March at the Conrad New York Downtown.

The Evolution of Impact Investing

Martin Diaz Plata

Head of Private Equity Investments BlueOrchard

Udayan Goyal

Managing Partner

Apis

Rekha Unnithan

Managing Director, Global Head of Private Equity Impact Investing
Nuveen

Amy Wang

Managing Director, Head of Private Credit

Blue Earth Capital

Dawn Powell

Principal

StepStone Group

LP Perspectives on Private Capital

Leo Chenette

Senior Investment Officer

New York State Common Retirement Fund

Mateo Goldman

Acting Vice President, Office of Equity and Investment Fund

US International Development Finance Corporation (DFC)

Andrea Kaufman

Managing Director, Head of Sustainable Investing

PGIM Private Alternatives

Elvin Lopez

Managing Director, Alternative Investments

MetLife Investment Management

Craig Thorburn

Director, Research & Insights

Future Fund

Jose Sosa del Valle

Partner

Lexington Partners

Other participating LPs include:

AIIB

Asia Alternatives

BII

City of Stamford

CPP Investments

DEG

EBRD

Emory Investment Management

EIB

FinDev Canada

IFC

LACERA

Pantheon

FMO

Ford Foundation

HarbourVest

IDB Invest

Proparco

QBE Insurance Group

Rockefeller Foundation

SIFEM

Siguler Guff

Top Tier Capital

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INVESTMENTS

► Engie Brasil Energia, the Brazilian arm of global energy company Engie, completed its acquisition of five photovoltaic complexes from Atlas, an energy company backed by Global Infrastructure Partners, for BRL3.24b (~USD656.3m). #LatinAmerica

► Fairfax India agreed to invest USD200m in IIFL Finance, an India-based loans, investments and insurance provider. #Asia

► Baubap, a Mexico-based microlending platform, secured USD120m in debt financing from SixPoint Capital Management. #LatinAmerica

► DST Global led a USD25m Series A for Yuno, a Colombia-based payments orchestration platform, with participation from Tiger Global and follow-on from KASZEK, monashees and Andreessen Horowitz. #LatinAmerica

► Advent International and Multiples Alternate Asset Management agreed to invest USD230m in Svatantra Microfin, an India-based non-banking lending platform for rural women. #Asia

► CDH Investments and Zigong Chuangfa Construction led a CNY1b (~USD139.2m) Series A for VOLANT, a China-based aircraft development company, with follow-on from Glacier Capital and Qingsong Fund. #Asia

► BTG Pactual completed a full acquisition of Brazil-based fund of funds Signal Capital after being a minority shareholder since 2020. #LatinAmerica

► Leste Group, a global alternative investment manager, acquired a majority stake in Prestige Cosmetics, a Brazil-based luxury perfume and cosmetics distributor. #LatinAmerica

► Innova Capital acquired a minority stake in CloudFerro, a Poland-based cloud services provider for the European space sector. #CEE

► Aruwa Capital and Newton Partners led a USD3m pre-Series A for MDaas Global, a Nigeria-based operator of tech-enabled diagnostics centers. #Africa

FUNDRAISING

► Global Infrastructure Partners reached a USD2.1b final close for its inaugural emerging markets fund focused on 11 countries in Asia and Latin America. #Global

► Triple P Capital is seeking to raise USD200m for its second fund focusing on the climate sector, specifically climate adaptation and resilience in Southeast Asia. #Asia

► ADB Ventures, the tech investment arm of the Asian Development Bank, is looking to raise USD200m for its climate fund, focusing on Series A and pre-Series A startups in Asia. #Asia

► eB Capital launched eB Fiagro I, its inaugural credit fund, with a BRL400m (~USD80.7m) target to invest in agribusiness companies that will be managed by its newly created arm eB Crédito Agro. #LatinAmerica

EXITS

► Actis exited its 75% stake in SIS Group, an Indonesia-based private school chain operating in Indonesia, India, South Korea and Myanmar, via a sale to Adivira Capital. #Asia

► Lakeshore Capital fully exited NDB Healthcare, a Thailand-based health products manufacturer, via a sale to Suntory Wellness. #Asia

► Partners Group and Kedaara Capital partially exited Aavas Financiers, an India-based financing company providing home loans, for USD165m. #Asia