October 2009
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Changed Indian landscape forces foreign PE firms to exit

Private equity (PE) firms and hedge funds that had flocked to India have found a way to deal with the dearth of ideal investment opportunities: exit in droves. Four overseas private equity firms and 25-30 hedge and sovereign funds have shuttered India operations in the past year, and more may be on their way out, experts said. While the decrease in the number of PE investments is a fallout of the global downturn, experts said it has changed India’s private equity landscape. Firms looking to raise funds in India have found the going particularly tough. [...]

Singapore’s Temasek, GIC trim stakes in India’s ICICI

Temasek Holdings and the Government of Singapore Investment Corporation (GIC) have both pared their stakes in ICICI, India’s second-largest lender. Bombay Stock Exchange filings stated that Temasek trimmed its interest in ICICI to 5.76 per cent as of Sept 30 from 7.6 per cent at the end of June. GIC cut its stake to 1.53 per cent at the end of last month from 1.66 per cent at the end of June. Collectively, their stakes have been cut from 9.91 per cent in the March quarter to 7.29 per cent as of Sept 30. Temasek has also been cutting its holdings in other financial firms. It recently sold its entire stakes in Bank Internasional Indonesia, Bank of America, Barclays and China Minsheng Bank. [...]

Time Warner may buy stake in NDTV Imagine

Turner Broadcasting, a company owned by Time Warner, might buy a majority stake in general entertainment channel (GEC) NDTV Imagine. According to reports in the media, the Turner Broadcasting-NDTV Imagine negotiations have reached a conclusion, and Turner, which also owns GEC Real, could buy as high a stake as 90 per cent in NDTV Imagine. [...]

Henderson Equity Partners invests $17m in Indian luxury apparel maker

Henderson Equity Partners, the private equity operation of asset management firm Henderson Global Investors, has invested $17m in Genesis Colors, an Indian fashion house. Established in 2001, Genesis designs, manufactures and sells luxury apparel under the Satya Paul brand. The company also has distribution rights in India for several international luxury brands, including Canali, Kenzo, Aigner, Paul Smith, Jimmy Choo, Just Cavalli and Bottega Veneta. [...]