By Quynh Nguyen
Shanghai-based DaDa operates an AI-powered online-streaming portal that helps K-12 children aged 4-16 learn English from native speakers.
Baring PE Asia will first buy the 30.58% stake held by the promoters of NIIT Technologies.
ADB’s contribution to the fund amounts to $10 million.
Investcorp sad it will manage both the assets acquired through the secondary transaction and the fund’s new capital.
The private equity firm acquired 460 million shares in ICP at $0.0063 apiece.
Headquartered in Queensland, Retail Food Group claims to be Australia’s largest multi-brand retail food franchise owner, where it operates Brumby’s, Donut King, Crust Gourmet Pizza, Michel’s Patisserie and Gloria Jean’s.
The NBFC, which is in talks with General Atlantic and Warburg, plans to dilute a significant minority stake.
The talks are at a preliminary stage right now. Investment bank Edelweiss is advising the bank on the fundraise.
US pension funds have been accelerating their Asia investments.
The firm maintains a 300 basis point overweight position in Traditional Private Equity and 500 basis point underweight in Growth/VC/Other.