The US-based PE fund Bain Capital PE, which has assets worth $40 billion under management, is setting up shop in India. Bain Capital, one of the top five PE funds in the world, has invested in companies such as Home Depot Supply and Burger King. It has appointed veteran in-vestment banker-turned PE investor Amit Chandra as its country head and MD for India operations. Sources say that Bain Capital is evaluating big India deals in the range of $100-200 million and would be setting up office in Mumbai.   more »

German investment bank SachsenFonds (SF) has bought stake in four realty projects of London Stock Exchange listed, India-focussed realty fund Trikona Trinity Capital for Rs 607 crore ($150 million). Trikona has made returns of 115 per cent in the transaction. In the Delhi-based Uppal IT park, SF raised its stake from 8 per cent to 33 per cent. In the Hyderabad-based residential and retail project Manjira, SF picked up 41 per cent, thereby completely owning the project. In the MK Mall being developed by DB Realty in Mumbai, SF picked up 40 per cent and now owns 100 per cent of the mall. SF also took 15 per cent stake in Delhi's Luxor Cybercity, owned by Trikona. In another instance, Trikona and SF acquired 49 per cent in a redevelopment project in Bandra in Mumbai. The Mumbai-based Rustomjee Developers will undertake the development work, while SF and Trikona will contribute funds in the ratio of 55:45, Trikona said. Since SF is yet to set up its base in the country, Trikona is expected to manage all the assets.   more »

Baring Private Equity Asia said yesterday that it closed the Baring Asia Private Equity Fund IV, a $1.52 billion private equity fund. Baring Asia now has $2.5 billion in assets under advisory and this latest fund is three times the size of the Baring Asia III fund it closed three years ago. That has performed well, with a net IRR to investors of 126% as of March 31, according to Baring Asia. Baring Asia said Fund IV will deploy the same investment strategy it used in its previous fund, which means it will target growing businesses in Asia with enterprise values between $100 million and $500 million that require capital for expansion, recapitalisation or for M&A purposes. Baring Asia IV will target companies in the alternative energy, media, financial services, consumer and industrial sectors with operations primarily in China and India, but it will also look at companies in Japan, Singapore, Hong Kong, Taiwan or Southeast Asia.   more »

Kotak Mahindra Bank Ltd., the former partner of Goldman Sachs Group Inc. in India, plans to raise about $1.2 billion for two funds to invest in the world's second- fastest-growing major economy. Kotak will seek $1 billion to invest in infrastructure and will add $200 million from overseas investors to a third private equity fund that closed last month, Nitin Deshmukh, chief executive officer at Kotak Investment Advisors Ltd., said in an interview in Mumbai. 3i Group Plc, Deutsche Bank AG and Morgan Stanley are increasing alternative investments in India, where private equity firms raised seven times more than China in the first quarter. Kotak plans to have $2.5 billion in assets by the end of March by adding to holdings including Multi Commodity Exchange of India Ltd. and the National Stock Exchange Ltd. Kotak has made investments through two private equity funds, the India Growth Fund, started in 2005 with $160 million of assets, and the Kotak India Venture Fund I, started last year, that manages $65 million.   more »