By Mars Woo
The acquisition also includes Fundi Software’s US-based affiliate, Circle Software. Established in 1982, Fundi operates as an IBM development partner, with customers across key verticals such as finance, aviation and mining, in addition to government, retail, and healthcare.
SBI Investment, Daiwa PI Partners, Daiwa Corporate Investment and WHIZ Partners, as well as New York-based Endeavor Catalyst led the investment.
Other investors include French development agency Proparco, Finnish development finance body Finnfund, Vostok Emerging Finance, Gemcorp Capital and LeapFrog Investments.
The bid by London-based Actis is ranked ahead of offers from Abu Dhabi Financial Group and Kuwaiti logistics firm Agility, which is making a joint bid with Centerbridge Partners.
The farms, which formed the majority of Hassad Food’s Australian holdings, will be transferred to Macquarie Infrastructure and Real Assets (MIRA) and Hassad will invest in a MIRA managed portfolio.
Uber and Careem held preliminary talks in July to combine their Middle Eastern ride-hailing services, hoping to resolve a costly rivalry in the region. A deal could value Careem at $2 billion to $2.5 billion
The investment comes a few weeks after Tesla Inc CEO Elon Musk said the Saudi sovereign wealth fund could help him fund a $72 billion deal to take his electric carmaker private
The investments will be incorporated into the Macquarie Infrastructure and Real Assets (MIRA) agricultural portfolio
The loan was larger than initially planned due to strong interest from banks and establishes a core banking group for the Public Investment Fund to work with on future deals.
According to BWX, the Bain-led consortium had failed to submit a binding proposal.