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Tata Capital, a subsidiary of Tata Sons, has tied up with Japanese securities firm Mizuho Securities to raise a private equity fund in Japan. The $500 million fund will invest in equity shares of unlisted mid-sized Indian companies. Tata Capital sources confirmed the development. They added that the Mizuho group is also likely to make proprietary investments in the fund. They refused to give further details. Interest rates in Japan are hovering around zero levels for years now and investors there are looking at overseas investments to make any returns at all. […]
Mirroring unrelenting investor demand for exposure to China and India, Carlyle Group, a US-based private equity firm, has raised $1 billion for its growth fund targeting smaller Asian companies, reported Financial Times. Carlyle said that the size of the latest Asian growth capital fund, which is almost 50% larger than its previous fund, had taken the firm’s aggregate amount raised in Asia, to $2 billion. Carlyle may invest 40% of this fund into India. […]
CDC Group PLC, the UK's development finance institution, today committed $10 million (Rs 48 crore) to Rabo Equity Advisor's India Agri Business Fund, CDC's first investment under its new investment policy. Under the new policy, which came into effect on January 1, the lending institution will focus more on investing in the world's poorest countries. Close to 75 per cent of new investments will go to countries, such as India, with an annual gross national income per head of less than $905. The fund will invest in mid-level companies in the agri-business sector across the entire value chain – farming, logistics, production and marketing. […]
Calamander Group Pte, a Singapore- based investment company, will create the first private equity fund focused on Sri Lanka, betting the nation’s economy will prosper after the end of three decades of civil war. Calamander plans to invest between $50 million and $75 million in the island nation’s rubber, tea, timber, coconut, bank and ceramics businesses in the next 18 months, Managing Director Roman Scott said in a telephone interview on June 19. The fund aims to earn a return of as much as 35 percent, he said. “It’s not a big fund by world standards but for Sri Lanka you can actually do a lot of damage with that kind of money,” Scott said. “There’s a huge opportunity to do a lot.” […]
Mortgage lender, LIC Housing Finance Limited (LICHFL), is looking at roping in a partner for its Rs 500-crore real estate venture capital (VC) fund which it plans to launch by end-September, a top company official said. “We are in the process of selecting a partner for our real estate venture capital fund. This will be completed in a month's time and by end-September, we will launch it,” LIC Housing Finance (LICHFL) Director and Chief Executive, Mr R R Nair, said here. The partner would be an Indian company, he said, without, however, disclosing the identities of the partners the company was in talks with. […]
Indian state-owned venture capital firm SIDBI Venture Capital, is raising a INR10bn ($208m) third fund to invest in small to medium-size enterprises, according to VCCircle. SIDBI VC’s parent company, SIDBI, has reportedly made an INR2bn ($42m) anchor investment in the fund and the venture capital firm is in talks with a number of financial institutions to raise the remaining funds. The firm has also appointed Harsh Kaul, former chief general manager of SIDBI, as CEO. Kaul told VCCircle he expects to make a first close of the new fund at INR5bn ($104m) in the next three months. […]
The State Bank of India, which earlier set up an infrastructure fund along with Australia's Macquaire and the International Finance Corporation (IFC), is now in the process of setting up a joint venture private equity fund in Oman. The bank is also in the process of building up an employee base for its future expansion programmes. SBI and Macquarie hold 45 per cent stake each in the infrastructure fund while IFC holds the remaining 10 per cent stake. The fund has projected a total capital, including contributions from domestic institutions, of $2-3 billion. […]
ICICI Venture Funds Management Company today said it has sold the animal healthcare division of RFCL, Vetnex, to Pfizer Animal Health for an undisclosed sum. The sale is expected to close by August 2009, ICICI said in a release. Terms of the agreement were not disclosed. “RFCL is a classic ICICI Venture buyout, involving the divestiture of a non-core business of a large corporate along with participation from the managerment team of the business,” ICICI Venture MD & CEO Vishakha Mulye said in a release. […]
US-based venture capital firm Trident Capital is planning to raise its next global fund worth between $350-400 million. The company said a significant focus of the new fund would be on India. This will be the firm’s seventh such global fund. It is at present investing out of its sixth fund worth $430 million. Venetia Kontogouris, managing director of Trident Capital, told Financial Chronicle, “We hope India will be a big growth story for us.’’ The firm has recruited a venture person on ground in India, its first such initiative outside the US. The venture firm is looking at non-technology areas for investments, for it feels that technology has become commoditised. According to Kontogouris, Trident is looking to invest in areas such as clean technology, bill payments and security products. […]
After launching an infrastructure fund in collaboration with Macquaire and IFC, State Bank of India is in the process of setting up 'several' other funds to cash in on the area, which is gaining importance as an alternate asset class. “The bank is at an advanced stage in setting up a general purpose private equity fund jointly with sovereign entities in Oman. The Indian Government has designated the bank as the operationalising agency for a similar sovereign fund with Qatar. Several other funds are at various stages of formation,” SBI said in its latest annual report. SBI has already set up an infrastructure fund in association with Macquarie of Australia and IFC Washington primarily aimed at investing in India's infrastructure space. […]
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