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The special situation fund will invest in Indian distressed assets Apollo Global Management, the global leader in the alternative asset management business, will partner ICICI Venture, one of India’s largest private equity firms, to launch a special situation fund. An agreement for the $750-million fund will be signed soon, persons close to the development said. In India, there is a huge opportunity for investments in distressed assets due to the mounting number of such large loans in the Indian banking sector. A number of financial institutions have already established their presence with their distressed asset funds in the past. The new venture, exploring opportunities in the areas of special situations and distressed assets in India, will be headed by Kalpesh Kikani, senior general manager of ICICI Bank. […]
Global media and entertainment- focused private equity fund, Providence Equity Partners (PEP) has invested Rs 260 crore to become the largest shareholder in digital cinema company UFO Moviez. UFO is the world’s largest satellite-based digital cinema service with close to 2,500 installations across India and will be using the infusion to fund roll-out of 3D systems in more than 1,000 screens in the country, a release issued said. “Providence Equity Partners will take a significant minority equity stake in UFO and will be the largest shareholder in the company,” the release said, adding that promoters Valuable Group and Apollo Tyres’ division Apollo International and PE firm 3i group will continue to remain “significant shareholders”. […]
Private equity (PE) funds are quick to seize attractive investment opportunities, and few deals in recent years have captured their imagination-and capital-more than infrastructure projects in India. Over the past five years, PE funds have invested approximately $13 billion-around one-fourth of their total capital flows to the country-into infrastructure. Annual PE investment in the sector has grown fourfold, from about $1 billion in 2006 to $4 billion in 2010. Infrastructure activity looks set to accelerate. Optimism about investment in the sector was a major highlight in a survey of PE industry insiders, which Bain conducted with the Indian Private Equity and Venture Capital Association. Nearly all respondents forecast continued double-digit growth over the next six to 12 months, with around half saying they expected venture capital and PE deal-making in the sector to grow by 25-50%. […]
Private equity firm Matrix Partners India today said it has raised $ 300 million (Rs 1,328 crore) through its second fund. “It has closed a USD 300 million second fund,” Matrix Partners India said in a statement. The fund will continue to target early and growth stage investments of up to USD 30 million each in companies in the business of internet, mobile, education, financial services, healthcare and infrastructure services firms. With the closing of this fund the firm has USD 600 million under management across two funds. The firm's first fund has investments in Muthoot Finance, which recently closed its initial share sale, and TreeHouse Education that has recently filed its papers for an initial public offering. […]
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