Transsion, the smartphone maker focused on African and emerging markets, raised $390 million in its Hong Kong listing, Bloomberg reported. The secondary listing gives the Shenzhen listed company a Hong Kong currency funding channel and a broader international investor base.
Riverside’s Dastex Group acquired Swiss cleanroom distributor Abovo, its seventh add-on, PE Hub reported. The buy-and-build continues Dastex’s consolidation of cleanroom consumables distribution in Europe, a niche that benefits from semiconductor and pharmaceutical cleanroom construction.
Lazard will reshuffle its Asia-Pacific advisory leadership following its acquisition of Campbell Lutyens, the placement agent and secondaries adviser, Private Equity International reported. Buying a secondaries and fundraising platform is a direct bet that private markets intermediation, not just deal advice, is where advisory fees are growing.
New Mountain Capital has opened a regulated office in Abu Dhabi led by former Blackstone managing director Shehreyar Hameed, AltAssets reported, while Lightspeed Venture Partners hired former EQT fundraising executive Adil Haque to lead global capital partnerships. Both moves point the same way: US managers are putting senior fundraising staff where Gulf and institutional capital is allocated.
Finance Earth is targeting $100 million for a new African nature and carbon investment fund, backed by a £5 million cornerstone commitment from FSD Africa Investments, AltAssets reported. The fund will test whether early-stage environmental projects in Africa can attract institutional capital at commercial terms.
Character.AI has filed for bankruptcy and agreed to sell some assets to Disney for $20 million, Investing.com reported. The technology beat owns the AI story; for this beat it is a reminder that distressed sales, not fundraisings, are now clearing part of the consumer AI market.