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Fidelity Fund Management, part of Fidelity International, is planning investments in the life sciences segment. The company is looking at an investment of $200-$400 million by the end of this year through this foray. Speaking during the sidelines of ‘The ISB Healthcare and Pharma Conclave – Lens on emerging markets’ held in Hyderabad, Jasmin Patel, MD, said that this would be its first foray in the country focusing on pharmaceutical sector. ‘‘We are in close coordination with a few life sciences company and hope to close the deals by the end of this year,'' he said. The PE firm has invested about $40 million in a few companies which includes infrastructure and technology telecom company. […]
The International Finance Corp. has committed as much as $30 million to a private equity fund investing in high-growth small- and medium-sized enterprises in India. Avigo SME Fund III, a $300 million, eight-year closed-end fund, is a follow-on offering to Avigo SME Fund II, a $125 million fund managed by Avigo Capital Partners, a private equity group formed in 2004 by Achal Ghai. […]
YES Bank Ltd, a recent entrant into the private equity space in India, is planning to expand its portfolio by launching a buyout fund in the near future. Though the value of the fund has not been decided as yet, the bank plans to launch it in three years’ time. The bank has already announced four sector specific funds in the first phase, in the form of a $300-million cleantech fund, a $500-million infrastructure fund, a Rs 200-crore food and agriculture fund and a $250-million lifesciences fund. Other funds such as a buyout fund, a VC fund and a real estate fund will be launched post-2010. […]
JPMorgan Chase & Co., the third- largest U.S. bank, plans to double private equity investments in India to $1 billion as the nation's equities head for the worst year on record. The bank will also invest about $500 million to build its corporate finance and advisory operations, Kalpana Morparia, who took over as chief executive officer of JPMorgan in India on Aug. 28, said in an interview in her Mumbai office yesterday. Private equity investments in India climbed 3.2 percent in the first six months of the year, bucking a 23 percent decline for all of Asia. JPMorgan, which acquired Bear Stearns Cos. in March in a bailout orchestrated by the Federal Reserve, has recorded about a quarter of the losses posted by Citigroup Inc., its bigger rival, after the U.S. home-loan market collapsed. […]
Samena Capital, the Bahrain-based investment management group focusing on markets in Asia, the Middle East and North Africa, is likely to invest about 35% of the newly announced $350 million in the Indian corporate sector. Samena, which has already raised $200 million of its debut Samena Special Situations Fund, targets a $350 million final close by October 31. Its Mumbai office will be opened by November. Samena plans to pump in about 80% fund meant for the Indian market in listed companies. The company has not made any allocations for companies it plans to invest in or specified sectors. Speaking to FE from his London office, Shirish Saraf, president and founder of Samena Capital, said, “We wanted to invest as much as 30-35% of our total funds in India, though no allocation has been made so far.” […]
Trikona Capital Ltd., the leading fund management firm for institutional investment in Indian infrastructure and real estate, is continuing a standing relationship with SachsenFonds Holding GmbH. The German fund will look, along with its partner, to invest $70 million into Indian infrastructure, divesting the rest of the $156 million into asset portfolios of Trikona's. The German-based fund previously partnered with the firm for two other transactions, starting in December of 2007. Sachsen purchased assets from the Trikona Trinity Capital PLC portfolio for $65 million, as well as partnering again for a $150-million-deal in June of 2008. The June 2008 deal will partially fund a co-investment with Trikona of $40 million to Mumbai, India to refurbish four acres of middle-class housing and build high-end luxury homes as part of Trikona's urban rejuvenation platform. Sachsen is contributing 55% of the investment cost. […]
India Infoline received regulatory approval for the India Infoline sponsored venture capital fund, India infoline Ventures Capital Fund. India Infoline will act as the investment manager to the fund, which will provide seed captial to entrepreneurs and business with innovative and scalable business ideas across a variety of sectors.(Business Standard) […]
IDBI Bank has revived its plans for entering the private equity (PE) business. The bank has sought permission from the Reserve Bank of India (RBI) again to foray into the segment and is targeting a corpus of Rs 1,000-1,500 crore for its first fund. Initially, it intends to tap domestic sources to raise funds and may look at tapping overseas investors later from second fund onwards, a bank executive said. The bank approached RBI for a second time in August this year. The erstwhile development financial institution had approached the regulator in 2007 to get into the private equity business. While no formal proposal was moved, RBI had then advised the bank to concentrate on its upcoming life insurance business. Its joint venture with Fortis and Federal Bank is now up and running. […]
Hindujas-promoted IndusInd Bank has said it is looking to float a one bn dollar fund (about Rs 4,500 crore) for investments in India. “We are going to partner with Indian firms that are known in the capital market space and are in the process of floating funds of their own. It is going to be the Hinduja brand name alongside local firms,” promoter of the bank and Group Chairman S P Hinduja revealed here. “One of the things we are planning to do in Dubai is to offer an offshore fund for investment into India,” he said after the 15th Annual General Meeting of the IndusInd International Holdings Ltd (Mauritius). […]
Reliance Capital (R-Cap), an Anil Dhirubhai Ambani Group firm, is raising $1 billion (over Rs 4,600 crore) from foreign investors for its foray into the private equity business. The fund will invest in the Indian equity market after concluding the capital raising plan by December 2008, Sam Ghosh, chief executive officer, R-Cap, told Business Standard. “We have received necessary approvals for our private equity business. Now, we are in the process of raising funds. This fund will be used for all types of equity investments in the country,” Ghosh said. R-Cap recently forayed into institutional broking and asset reconstruction. According to Ghosh, these businesses received an overwhelming response from the market. […]
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