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The world’s largest asset management firm,Blackrock , will join hands with Hemendra Kothari’s DSP Group to set up a private equity fund to do ‘classic PE deals’ targetted at mid-sized companies. People close to the situation said DSP and the US-based BlackRock, which run a joint venture asset management company, are discussing the formation of a separate firm to run the new business. The partners have already formed a team and have begun identifying top executives to be […] Magnetar Venture Pvt Ltd plans to launch a $100 million fund focused on clean technologies by March to funnel growth capital into budding enterprises, a senior official at the venture fund told Reuters. The fund is registered with regulator Securities and Exchange Board of India (SEBI) and plans to raise $20 million in its first phase, said Reji Kumar Pillai, general partner of Magnetar Venture. Magnetar hopes to rope in state-run firms working in the field or their units as […] LIC Housing Finance (LICHFL), a subsidiary of Life Insurance Corporation of India (LIC) has launched a Rs 500 crore venture capital fund called LICHFL Urban Development Fund to make investments in housing and infrastructure projects. LIC Housing Finance the main sponsor and LIC the co-sponsor have both invested Rs 50 crore each while another Rs 100 crore has been raised in aggregate from high net worth individuals, direct retail investors and institutional investors,” said VK Sharma, CEO at LICHFL. “The […] In 2011, 11 infrastructure funds raised $5.4 billion from investors, a 40% drop from 2007, according to data from Venture Intelligence, a research service focused on private equity. In 2007, seven funds raised $8.8 billion Japan-based Nomura Holdings Inc. has put on the backburner plans to raise $500 million for its Indian Infrastructure Fund, according to two officials familiar with the development. The uncertain macroeconomic environment has triggered the decision, said the two officials, who spoke on condition of anonymity. […] Red Fort Capital, an India-focussed real estate private equity firm, is set to raise $500 million fund that will invest in commercial and residential assets in Asia’s third-largest economy, two sources with knowledge of the matter told Reuters. The company is in the final stages of fund raising, at a time when global fund raising markets are besieged by economic growth concerns, and will formally announce a “closure soon”, said the sources, who declined to be named as they were […] India-focused private equity firm Jacob Ballas Capital expects to invest about $150 million in Asia’s third-largest economy over the next 12 months, scooping up assets that offer strong long-term growth, a top official said on Wednesday. A sluggish near-term economic outlook has brought down valuations in the country of more than 1.2 billion people, and has thrown up good opportunities, Srinivas Chidambaram, managing director of the firm’s Indian operations said. “Most of the companies are more reasonably priced now. If […] Private equity (PE) firms are said to be in talks with medical device and technology provider Trivitron Healthcare to pick up a 10-12% stake in the company. According to sources, Bain Capital, TPG and TA Associates are interested to buy the stake in the unlisted Trivitron. The company is likely to sell the stake for Rs 150 to Rs 200 crore, the sources said. In response to an ET query, a company spokesperson said, “Trivitron group of companies as a […] Ashok Piramal Group, IDFC Project Equity Fund and Canada’s SNC-Lavalin Group Inc will commit $250 million-$300 million in equity in a combined fund over the next 3-5 years, a Piramal Group official said on Tuesday. Earlier, the three firms had agreed to jointly develop road and highway projects in a public-private partnership. The group plans to eventually list the partnership, Rajeev Piramal, vice-chairman of the Ashok Piramal Group, told reporters Source: Reuters Baring Asset Management will launch the Baring India Fund which will focus on Indian equities and equity-related securities of companies listed in India or which carry out the predominant part of their economic activity there. The primary focus of the account will make up at least 70 percent of the fund at any given point. Barings will invest up to 30 percent in companies listed outside India and within the Indian subcontinent which still conduct a significant proportion of their […] Troubled investments have claimed the second big victim in the Indian private equity space. On the heels of Lilliput, where marquee names like TPG and Bain Capital are stuck in a messy legal battle, Morgan Stanley Private Equity is staring at a Rs 200 crore loss. Its first and only investment in India out of its Asia-dedicated fund has gone bad. Biotor Industries, a Mumbai-based biofuel company, in which Morgan Stanley had picked a significant minority (over 30 per cent) […] |