Korean financial services giant Mirae Asset Financial Group is planning to enter the investment banking, wealth management and private equity segments in the country. Mirae Asset Financial Group chairman Hyeon-Joo Park said that the company recently launched its asset management business in India. “We are now preparing to launch our securities business in the country,” Park said, adding that Mirae was not eyeing the brokerage space. He refused to put a figure to the proposed investment into India. The group has been exploring an inorganic entry into India through an acquisition. “But we have not been able to find a suitable company,” said Park. Real estate too was on Mirae’s radar but regulations in India are dissuading the Korean company. “If the government of India softened the regulations, we would like to invest in real estate,” Park added.   more »

Trikona Capital Ltd., the leading fund management firm for institutional investment in Indian real estate and infrastructure, announced it has extended its relationship with SachsenFonds Holdings GmbH, a German fund manager with $7.5 billion under management, in a $150 million deal that includes minority stakes of current Trikona assets and investments in new projects. Trikona's divestments earned a return on capital of 115%. Trikona laid the foundation for this partnership last December when it sold assets in the portfolio of Trikona's London Stock Exchange-listed fund Trikona Trinity Capital PLC (LSE: TRC) to SachsenFonds for nearly $65 million, a return of 108% for Trikona. As part of the $150 million deal, Sachsen will join Trikona as co-investors in a $40 million investment in Mumbai to refurbish four acres of middle-class housing and build high-end luxury homes as part of Trikona's urban rejuvenation platform. Sachsen will contribute 55% of the investment cost.   more »