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US govt’s finance arm to invest $135 mn in Indian PE firms

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, [...]

Motilal Oswal PE ties up with two Pune realtors

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 [...]

L Capital plans LVMH-like model in India

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 [...]

Kohlberg Kravis Roberts plans $1-bn India-focused fund

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 [...]

KKR eyes stake in Sree Jayajothi Cements

Private equity firms Blackstone Group and Kohlberg Kravis Roberts & Co (KKR) are discussing a large stake buy in the cement unit of the Shiram Group, the Times of India reports.

Shriram EPC, which took controlling stake in Andhra Pradesh-based Sree Jayajothi Cements, plans to raise more than INR400 crore to boost operations. KKR already holds a stake in another Indian producer, Dalmia Cements. Another US private equity Mount Kellett also met with Shriram on the potential investment opportunity [...]

Apollo, ICICI Raising $350M Fund

U.S. private equity firm Apollo Global Management and ICICI Venture, the private equity arm of No.2 Indian lender ICICI Bank, are close to raising $350 million to invest in distressed assets in India, two sources with direct knowledge of the matter told Reuters. Few funds in India specialize exclusively in distressed assets, but a sharp slowdown in economic growth is expected to create opportunities to invest in struggling companies. U.S. private equity firm Apollo Global Management LLC (APO.N) and ICICI [...]

Capital international PE closes Rs 16,140-crore fund

Emerging market focused private equity fund, Capital International Private Equity Funds (CIPEF ), which is managed by Capital International, announced the final close of its $3-billion (Rs 16,140 crore) Capital International Private Equity Fund VI (CIPEF VI). According to the Emerging Markets Private Equity Association (EMPEA), CIPEF VI, is the largest global emerging markets private equity fund closed in the last five years. Capital International, part of the Capital Group Companies, is an institutional investment manager and has been investing [...]

IDFC to raise $1bln-$1.5bln for infra fund

Infrastructure Development and Finance Co is in the early stages of raising $1 billion-$1.5 billion for a new fund to invest in infrastructure in the country, two sources with direct knowledge of the matter told Reuters. The funds will be raised for IDFC Project Equity, in which Citigroup and India Infrastructure Finance Co., a state-owned infrastructure finance firm, are key investors, the sources said. The company already has a project equity fund, which manages about $930 million in roads, ports, [...]

IFC invests $20 mn in Pragati India Fund

The International Finance Corp. (IFC) has invested around $20 million in New Delhi-based Pragati India Fund, an investment firm that focuses on small- and medium-size enterprises (SMEs) in states such as Bihar, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, West Bengal and Orissa. These low-income states are home to more than 400 million people but do not attract big private investments. “These states have been ignored, and there are perception issues,” said Narayanan Shadagopan, Pragati’s founder and managing director. “There is not [...]

Cisco Backs Indian VC Fund

Cisco has invested an undisclosed amount in Aavishkaar, a $120 million venture fund founded to promote development in rural and semi-urban India. Cisco will invest in the fund, Aavishkaar India II Company Ltd., and will “collaborate with other investors to drive sustainable business models with social impact,” the company said.

Reinforcing its commitment to country transformation and inclusive growth, Cisco today announced an investment in Aavishkaar, a venture fund founded to promote development in rural and semi-urban India. Cisco will [...]