December 2011
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India sees PE deals worth $7.7 bn this yr: Grant Thornton

Private equity deals witnessed a 24% surge in value and volume terms this year, with 347 transactions valued at $7.7 billion announced during the period, a 24% jump vis-a-vis the corresponding period last year. According to consultancy firm Grant Thornton, PE deals worth $7.7 billion were announced this year through 347 transactions compared to $6.2 billion by way of 253 deals in 2010. The Grant Thornton’s Dealtracker report has taken into consideration deals up to December 9, 2011.

The deal […]

PE firms offer more options to investors

Apart from raising PE funds, these firms are now raising mezzanine funds, private investment in public enterprises (PIPE) funds, real estate and infrastructure funds

Private equity (PE) firms in India are offering multiple investment options across asset classes to their investors, known as limited partners (LPs), who are backing fewer fund managers to fetch better returns. Apart from raising PE funds, these firms are now raising mezzanine funds, private investment in public enterprises (PIPE) funds, real estate and infrastructure funds. […]

Real estate PE funds find it tough to raise funds

Real estate-focused private equity (PE) funds, which have seen falling returns in last three years, are now finding it hard to raise liquidity for the new funds in the sector. So you have a $500-million infrastructure and realty-focused fund from a well-known private bank that is unable to raise the amount for more than eight months. “Investors have got cautious,” a former head of the fund told HT. “Earlier, PE players would go to investors and pitch the India growth […]

Redington buys out PE fund stake in overseas arm for $113 million

The country’s third largest IT and non-IT distributor, Redington (India) has acquired shares of its subsidiary Redington International Holdings (RIHL) from the private equity investor Investcorp. The purchase is made through another subsidiary Redington International Mauritius (RIML). The consideration of the 25.97 per cent stakes is $113 million.

The company has entered into a share purchase agreement with Investcorp and the sale would be completed in three months, Redington has informed BSE. With the buyout, RIML’s shareholding in the Cayman-Island-based […]

Real estate PE business loses much lustre

Last month Ivanhoe Cambridge, one of the world’s ten largest real estate companies, decided to call it a day in India. The Canada- headquartered firm had spent almost three years in India looking for appropriate investments in retail real estate either on its own or with partners who could meet its risk return criteria. The end result, not a single deal.

There have been other exits also, among them RREEF, a real estate PE fund promoted by the Deutsche Bank […]

Kotak Realty Fund to invest Rs 170 cr in BPTP’s Gurgaon Project

Kotak Realty Fund is investing Rs 170 crore in NCR-based developer BPTP’s residential township project Astaire Gardens in Sector-70A of Gurgaon. While the township project is spread over 102.2 acres, Kotak is taking over 50% stake in a 70-acre part of the project where BPTP is selling plots and villas. Kotak is investing in the project through its foreign fund Kotak India Real Estate Fund 1. A banking source close to the development said “this is a preferred equity transaction […]

Real estate houses most PE investments in 2011, attracts $1,700 million

Real Estate emerged as the popular parking place for private equity funds who invested $1,700 million in the sector during 2011. Power sector that topped the PE charts during the first six months of the year finished third with $892-million investments behind automotive sector that could attract $1006 million private equity funding. Overall PE investments during the year rose to $7.7 billion through 347 deals, up from $6.2 billion and 253 deals in 2010. However, the country’s total investment in […]

Realty PE funds open up new avenues

The Indian real estate sector has grown rapidly over the last few years, with its stakeholder profile evolving from locally-focused, privately-owned enterprises to increasingly corporatised, professional organisations funded with public capital and having multiple market and product strategies. As a result, Indian real estate has seen a considerable flow of capital in recent years, both from foreign as well as domestic sources. The developer community is adapting to the requirements of joint venture arrangements with institutional capital sources by providing […]

PE firm Actis Advisors invests $71 mn in auto component maker Endurance

Actis Advisors Pvt. Ltd, an emerging-markets focused private equity (PE) firm, has acquired a minority stake worth $71-million (Rs371.6 crore) in Aurangabad-based auto component maker Endurance Technologies Ltd. Founded in 1985 as Anurang Engineering Co. Pvt. Ltd, Endurance is a manufacturer of aluminium die casting that includes alloy wheels, suspension, transmission and braking products for two- and three-wheelers and passenger and commercial vehicles. The Endurance group consists of Endurance Technologies and its subsidiaries HTTS (India), Amann Druckguss (Germany), Endurance Fondalmec […]

Kreon to pick up 51% in Aran

As part of its strategic diversification, Chennai-based non-banking finance company (NBFC) Kreon Financial Services Limited is planning to acquire around 51 per cent stake in modular kitchen company Aran Kitchen World India Private Limited. In a filing to the BSE on Friday, Kreon Financial said that it had signed a share purchase agreement with the promoters of Aran Kitchen World. Aran Kitchen World is a joint venture between Italian modular kitchen firm Aran World and Chennai-based Bohra Kitchens of the […]