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ICICI Venture to exit Medica Hospitals

ICICI Venture, which holds close to two-third stake in Medica Synergie, is expected to exit the firm in the next three to four weeks. “A deal is in pipeline and expected to mature in the next three to four weeks in which new investors will come in and ICICI Ventures will exit,” Medica Synergie CEO Ayanabh Debgupta said when asked. Medica Synergie is one of the largest integrated healthcare delivery providers in eastern India managing hospitals with combined capacity of […]

India Ventures to float Rs 1,000-cr healthcare fund

Ajay Piramal Group promoted India Venture Advisors, a healthcare focused venture capital, is planning to launch a Rs 1,000 crore fund.

“We are looking at Rs 1,000 crore fund, of which Rs 500 crore will be from overseas investors to invest in the Indian health-care market,” India Ventures Advisors President Sanjay K Randhar said.

He said the existing Rs 400 crore has been completely invested or committed and a new fund will be unveiled.

“We will be […]

Temasek, Abu Dhabi fund, Ontario invest $250 mn in Kedaara Capital

The environment might be tough for private-equity (PE) fund managers struggling to raise their debut funds, but Manish Kejriwal has managed to buck the trend. Kedaara Capital, founded by the former head of Temasek India, has successfully roped in some of the largest sovereign funds, such as Temasek Holdings and Abu Dhabi Investment Authority (ADIA).

According to sources, Kedaara Capital raised $500 million last month. About half the amount has come from major investors including Temasek, ADIA and Canada’s Ontario […]

Warburg sells entire 8.4% stake in Havells

Global equity firm Warburg Pincus has sold its entire 8.35% stake in electrical and power equipment company Havells India for about Rs. 730 crore. The shares were purchased by Vontobel Funds Inc through open market transactions. Seacrest Investment, a Warburg Pincus group company, sold 58.20 lakh shares, amounting to 4.66% stake, of Havells India for Rs. 407.40 crore, on the NSE. Besides, another Warburg Pincus group firm Woodcrest Investment offloaded 46.07 lakh shares, equivalent to 3.69% stake, of the electrical […]

Actis may exit first realty PE investment in India

Emerging markets-focused Actis Private Equity might soon exit from its first and only real estate investment in India, according to sources. The global PE firm had invested $25 million in early 2008 in a joint venture company floated with Vaishnavi Group to construct a residential and retail property in Bangalore. According to sources, Actis is in active discussions with the promoters to sell back its stake in the venture.

When contacted, Actis said it could not comment. The management of […]

KKR to raise Rs 2,000 crore from wealthy Indian investors and institutions

The local arm of the American private equity biggie, KohlbergKravis Roberts and Co (KKR), will raise Rs 2,000 crore from wealthy Indian investors and institutions. KKR’s alternative investment fund, which has been recently registered with the capital market regulator Sebi, plans to invest the money in mezzanine and structured credit instruments to fund promoters, among other things.

KKR has been funding companies for over three years from its balance sheet capital.

Now, it’s keen to raise a pool […]

Tata Capital raises $600 mln private equity fund

Tata Capital, part of steel-to-software conglomerate Tata Group, has raised $600 million for a private equity fund to invest in India, in what could be one of the largest debuts by a private equity fund targeting India. Institutional investors from North America, Asia and the Middle East have invested in the fund, the company said. The investors could also co-invest directly into portfolio companies alongside the fund on a mutually discretionary basis, it added. Globally, first-time funds have secured about […]

Reliance PE plans third fund, with target corpus of $300 mn

Anil Ambani-led Reliance Private Equity is firming up plans for its third fund, with a target corpus of $300 million. Reliance PE will be looking exclusively at global investors for this fresh fund, according to sources.

Reliance Private Equity is currently investing from its second fund — Reliance Alternative Investments Fund-Private Equity Scheme-I, which has a corpus of Rs 930 crore and expected to be drawn down by November 2013. It had tapped domestic investors, besides a small number of […]

Dewan Housing’s PE arm ArthVeda Fund launches infrastructure debt fund

ArthVeda Fund management, the private equity (PE) arm of housing finance company Dewan Housing Finance, has launched its first infrastructure debt fund, moving away from its core strategy of investing in India’s real estate sector.

The Rs 200-crore ArthVeda ANU credit fund will look to invest up to Rs 20 crore per investment in unlisted companies with annual revenue ranging between Rs 50 crore and Rs 100 crore, according to Bikram Sen, chief executive officer.

“”We will invest […]

Indiareit makes Rs 200 crore private equity investments

Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises, has invested Rs 200 crore in multiple projects located in Mumbai, Pune, and Bangalore, capital for which has been deployed from two domestic real estate funds. The PE firm has infused Rs 100 crore into a prime residential project being developed by Omkar Realtors, located in Central Mumbai. The investment has been made from Indiareit’s recently closed Rs 400 crore Mumbai Redevelopment Fund. The project is spread across […]