Family Capital's weekly look at the goings-ons in the world of family capital

Business

N&Q: Family office deals; private equity/family business deals

by

Family office deals

Omidyar Network, an investment office owned by the US-based Omidyar family, has backed an India group called mobile telecoms group called Indus. Omidyar funded a Series A round worth $4 million for Indus.

Nadathur Group, the family office of N.S. Raghavan, one of the founders of India’s best-known tech companies, Infosys, has acquired a hotel in Singapore S$67 million.

Private equity/family business deals

Li & Fung, a Hong Kong-based sourcing group, is selling its sweater, furniture and beauty products business to the founding Fung family and Chinese private equity house Hony Capital for $1.1 billion. The acquiring consortium is 55% controlled by the Fung family and 45% controlled by Hony Capital.

Custom Equipment, a Michigan-based welding and fabrication business founded by the Kissinger family, is selling a majority stake to Stratford-Cambridge Group, a private equity firm. The family will retain a  20% stake in the business.

Minnesota-based Sun Country Airlines, which is owned by the Davis family, has been bought by private equity group, Apollo Global Management, for an undisclosed sum.