August 2008
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Frontline Strategy's Fund Invests USD 7 mn in Krishna Saa Fabs

Mauritius-based Frontline Strategy Ltd, a Fabiani Family Office-anchored asset management company with prime focus on private equity investments, today announced an investment of USD 7 million in Krishna Saa Fabs Private Limited. Krishna Saa Fabs fabricates structural engineering products used in the high growth infrastructure support sectors of telecom, national highways, airports, and ship-building. The company's products include telecom and power utility towers; galvanized products for earth reinforcement, which are used in national highways and airport runways; and galvanized products used in ship-building. Krishna Saa Fabs is a unique company with a diversified customer base across multiple core infrastructure sectors, said Atim Kabra, Managing Partner, Frontline Strategy. […]

FDI in real estate may touch $25 bn in 10 years

Foreign direct investment in the country's real estate sector is likely to rise to a whopping $25 billion in the next 10 years from the present $4 billion, even as the industry faces a slowdown in the short term due to rising interest rates, an Assocham study said. “Despite real estate market confronting a temporary depression with real interest rates hovering between 12-16 per cent, FDI in real estate market would increase by about $21 billion to touch USD 25 billion in the next 10 years,” industry chamber Assocham said in its latest study. At present, the domestic real estate market is estimated at $15 billion, of which FDI contributions are about $4 billion, it pointed out. […]

European buyout firm Candover to enter India

After KKR, Carlyle and Blackstone, European buyout firm Candover is planning an office in India. The company, which is in the process of raising a E5 billion fund, has roped in Harsha Raghavan from Goldman Sachs to head its India unit. Mr Raghavan was co-head (India) for the principal investments of Goldman Sachs. He was with the company since 2004. Candover, which has invested more than Euro 46 billion in buyouts in Europe since 1980, primarily focuses on European market with offices in the UK, France, Spain and Italy. Incidentally, it had only recently (Feb ‘08) set up its Asian presence having placed Jamie Paton to head its office in Hong Kong. Mr Paton confirmed the developments to ET: “Our Mumbai office will come up in the next couple of months. We will have a core team of around 5 people.” […]

JPMorgan may put $1bn in Asia realty

JPMorgan plans to invest more than $1 billion in Asian real estate over the next three years, hoping to fill a gap as Indian and Chinese developers crave funds and rival investors recoil from property markets. The investment bank, which has fared better than some Wall Street rivals because of smaller exposure to US sub-prime mortgage investments, is using its special opportunities group to finance Asian property firms and their projects. “It’s a fantastic opportunity for us at a time when a lot of our competitors are scaling down because of difficulties accessing their balance sheet,” the group’s Asia real estate head, Bryan Southergill, said. […]

Nokia Growth Partners to invest $150 mn in India & China

Nokia Growth Partners, a global equity fund set up by the Finnish telecom giant, has decided to invest an additional $150 million and this time for financial support to enterprises focused on India and China. “Building on a track record of successful investments, Nokia Growth Partners, launched in 2004, will now establish direct operations in India and China and augment investment activity in the US and Europe,” the company said. “With the additional investment, Nokia Growth Partners will continue pursuing investments that are of strategic relevance to Nokia, and or complementary to their strategy,” it added. […]

AFL Logistics may offload 25% to PE investors

AFL Logistics is considering sale of up to 25% stake to private equity (PE) investors, according to its CMD Cyrus Guzder. “Indian logistics business is growing at over 8% year-on-year. It needs the backing and support of the private equity firms. The idea of the proposed dilution of equity by a fourth to PE investors is to capture more opportunities,” Mr Guzder told ET. The proposed investment of PE players may be followed by an initial public offering, if the market conditions improve, he said. He and his associates own 100% stake in AFL. The logistics industry has become a hotbed of PE investments. Eight deals have witnessed PE players investing $175 million in the first four months of this fiscal. […]

Gayatri Infra gets Rs 200cr funding

Australian firm AMP Capital Investors will be investing Rs 200 crore in Gayatri Infra Ventures Ltd, a fully owned subsidiary of Hyderabad-based infrastructure company Gayatri Projects Limited (GPL). Australian firm AMP Capital Investors will be investing Rs 200 crore in Gayatri Infra Ventures Ltd, a fully owned subsidiary of Hyderabad-based infrastructure company Gayatri Projects Limited (GPL). The first instalment of Rs 100 crore will give AMP a 29 per cent stake in GIVL. “We will use it to fund existing projects as well as future bids and concessions undertaken by GIVL,” said Mr T.V. Sanddep Reddy, director, Gayatri Projects. […]