January 2010
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Yes Bank to set up PE firm

Private sector lender Yes Bank plans to set up a firm, Yes Ventures, to house its private equity funds, in 2010-11. “We are keen on having a centralised PE enterprise which will help incubate stand-alone and partnership funds,” Yes Bank Managing Director and CEO Rana Kapoor told Business Standard. The bank is in the process of closing a $200-million (over Rs 900 crore) cleantech private equity fund with US private equity investor Global Environment Fund. The fund, proposed in June 2008, was expected to mop up $500 million (around Rs 2,300 crore at Monday's exchange rate). It will close this month. […]

January 11th, 2010

Two PE funds may invest $200m in MSM India

Two private equity (PE) players, Standard Chartered Private Equity and Providence Equity Promoters, may jointly invest $200 million in Multi Screen Media (MSM) India, earlier known as Sony Entertainment Television (SET) India. The deal includes a buyout of 32 per cent held by Bollywood actor Jackie Shroff and three others, and infusion of funds as fresh equity. Sony’s US-based parent, which holds 61 per cent in MSM, will also bring in funds. According to investment bankers privy to the development, the deal is likely to be finalised by the end of this month. The balance capital in MSM is with another private equity investor, Capital International of Japan. […]

January 11th, 2010

PE investments fall to 4-yr low at $4 bn in 2009

Difficult fund raising conditions slowed the pace of private equity (PE) investments in the country by 64 per cent to a four-year low of $ 3.8 billion in 2009. Private equity firms made an annual investment of $ 10.47 billion made in the previous year, according to deal tracking firm Venture Intelligence. Such level of investment was last seen in 2005 when PE firms had invested $ 2.2 billion through 167 deals. “It has been a difficult year for PE funds as volatility in public markets and continued uncertainty around the ability to raise new funds caused investment activity to be muted in 2009,” Venture Intelligence CEO Arun Natarajan said. […]

January 11th, 2010