In May 2010, Singapore-based Asian Genco Pte Ltd announced it had secured investments worth $425 million from a clutch of marquee private equity (PE) funds, to invest in the Indian power sector. It was a big surprise. The funds included General Atlantic, Morgan Stanley, Norwest Partners, Everstone and Goldman Sachs, and not many had heard of Asian Genco. The financing by the PE biggies was the biggest equity transaction in the power sector till 2010 and touted as endorsing the [...]
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ICICI Venture, one of the largest private equity firms in the country, is looking to sell its 49 per cent stake in Indian Express Newspapers (Mumbai) Ltd (IENL), which manages Express Towers, located at Mumbai’s Nariman Point. ICICI Venture was currently in talks with a number of investors like Blackstone, two executives in the know of the plans said. It was looking at getting around Rs 1,000 crore for its stake, which is double the Rs 500-crore investment it had [...] The Indian business process outsourcing industry in the recent times have been in news due to renewed interest shown by private equity industry. However, the one deal that missed creating the buzz was the acquisition of MModal, earlier known as CBay Systems, by One Equity Partners, JPMorgan’s PE partner for $1.1 billion. The deal that was announced in July this year would be one of the large PE deal in the BPO space this year. A month after that, in [...] India Venture Advisors, the private equity arm of Piramal Enterprises Ltd, is set to raise a Rs 1,000-crore health care-focused fund. The Rs 500-crore fund, with an over-allotment of Rs 500 crore, will be launched officially within a month. India Venture, founded in 2007 by Ajay Piramal and A K Purwar, former chairman of State Bank of India, has its focus on health care and life sciences investments. The fund, India Venture Advisors Fund II, will be raised from domestic [...] The fundraising plan of Godrej Agrovet Limited (GAVL) is turning into a hot race as more private equity players are entering into the fray. In a latest development, global private equity majors -Kohlberg Kravis Roberts (KKR) and Apollo Global management LLC have evinced interest to buy stake in the Mumbai-based Agri-poultry business firm. According to sources in the know, KKR and Apollo are in early stages of discussion with Godrej Agrovet management and more private equity players have shown interest [...] Carlyle Group LP has raised $841 million in India’s fourth-biggest equity deal this year by selling its remaining 3.7 percent stake in the country’s top mortgage lender, Housing Development Finance Corp Ltd (HDFC), said a source with direct knowledge of the deal. The sale marks the US private equity firm’s exit from HDFC after nearly doubling its original 2007 investment of $650 million with this latest sale and one in February that raised $270 million. The HDFC share sale came [...] Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, is investing $135 million in financing for two investment funds from India. OPIC’s fund will support small and medium-sized enterprises (SMEs) and industrial logistics parks in India. The Board of Directors has approved $35 million for the BanyanTree Growth Capital II fund. BanyanTree’s fund has a target capitalization of $175 million. The Board also approved $100 million for IndoSpace Logistics Parks II, which will invest in warehouses, distribution centers, [...] A realty fund managed by Motilal Oswal Private Equity Advisors (MOPE) on Thursday said it has tied up with two realty players to develop a 16-acre land parcel in Pune. The land, located at Somatane on the city outskirts, has an estimated development potential of 7 lakh square feet, MOPE said in a statement. Its India Realty Excellence Fund has formed a joint venture along with realty players Supreme Universal and Mirchandani Group, it said. The joint venture will build [...] PE firm L Capital is in talks with top Indian designers to create an Indian luxury house on lines with its parent company — Paris-based LVMH Moet Hennessy Louis Vuitton. According to sources, the company is in final stages of talks with two of India’s top fashion designers — Rohit Bal and Sabyasachi Mukherjee – along with specialist multi-designer retailer Evoluzione for the planned venture. Along with consolidating their separate labels under a single corporate structure, each of them will [...] US private equity firm Kohlberg Kravis Roberts & Co LP (KKR) is in early stage discussions to raise $750 million to $1 billion (Rs4160 crore – Rs5,546 crore) for investing in India, Reuters yesterday reported in the US, citing sources with direct knowledge of the matter. The move comes even as New York-based Apollo Global Management is already in the process of raising a $1-billion India-focused debt fund in partnership with India’s lrgest private sector bank, ICICI Bank. New York [...] |
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