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Private equity investments drop 34% in June quarter: Venture Intelligence

Private equity investments dipped 34% in the June quarter compared to the same period last year. PE firms invested $1,848 million acorss 102 deals during the April-June quarter, said PE/VC tracker Venture Intelligence in its latest report. Investments dropped 34% from $2,798 million across 126 transactions in the year-ago period.
The largest transaction during the period was Morgan Stanley Infrastructure Partners’ investing Rs 1,200 crore in Continuum Wind Energy, a Singapore-headquartered developer of wind assets in India. Close on the heels was Fairbridge Capital acquiring a 77% stake in travel services firm Thomas Cook (India) for Rs 817.4 crore. Warburg Pincus’ acquisition of a 53.67% stake in consumer finance company Future Capital Holdings for Rs 563 crore was the third largest transaction, Venture Intelligence said in its report.
The IT & ITES companies attracted $379 million or 21% of the value pie across 42 investments during the June quarter. Investments in the sector were dominated by follow-on rounds at various VC-backed online services companies – including local listings firm JustDial ($60-M from existing investors Sequoia Capital and SAP Ventures); advertising focused Pubmatic ($45-M led by new investor August Capital) and classifieds focused Quikr ($32 million round led by new investor, Warburg Pincus). Healthcare and life sciences companies came third attracting $243 million across 12 investments followed by BFSI firms with $232 million across 10 investments.
Private equity players made 7 investments in real estate (amounting to $162 million across 6 deals with disclosed values) during the quarter ended June. The volume of investments was less than half compared to 18 transactions in the same period in the previous year ($553 million being invested across 14 transactions with disclosed values). In the Jan-March quarter, the sector had 17 investments ($573 million across 15 deals) .
Morgan Stanley Real Estate Investment pumped in Rs 500 crore into Supertech’s township project in Noida-making it the largest real estate transaction during last quarter. Supertech also attracted a Rs 100-crore commitment from US-based Walton Street Capital towards the residential towers that will come up at its mixed-use project Supernova at Noida.
Source: Times of India

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