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Private equity fund Temasek keen on India, but cautious

India still remains a promising economy for Temasek even though the PE fund’s investment has dropped in the past one year, said Rohit Sipahimalani, co-chief investment officer and head, India, and co-head, the Middle East.

“There’s a lot of uncertainty, but times like these also create opportunities. We will take advantage of the uncertainty, but will remain cautious,” Sipahimalani said.

In January, Temasek picked up a 4.9 per cent stake in Godrej Consumer Products for Rs 685 crore. But despite this investment, Temasek continues to be a relatively small player in the big-ticket private equity deals market.

Temasek’s past investments include GMR Energy, Bharti Airtel, Tata Tele Services, NSE and ICICI. PE investments in India have been somewhat sluggish this year as slowdown in economic growth and policy uncertainties have put the lid on fundraising plans of companies. PE investments in this quarter have seen a 34 per cent dip at $1,848 million as compared to $2,798 million last year, according to a research report by Venture Intelligence. Most of these deals were in the IT and ITeS space followed by investments in renewable energy.
Source: Economic Times

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