Aureos targets $200m fund for India, Sri Lanka, Bangladesh
Aureos Capital is targeting a year-end close for a $200 million fund that will invest in India, Sri Lanka and Bangladesh. Balaji Srinivas, managing partner at Aureos India Advisers, told Bloomberg that the Aureos India Fund II would deploy around 15% of its capital in Sri Lanka and Bangladesh, with the remainder entering India.
The fund will look for deals in Indian cities with populations of less than four million, including Ahmedabad, Surat, Coimbatore, Chandigarh, Madurai, Kochi and Bhopal.
Sivendran Vettivetpillai, CEO of Aureos Capital, said in a statement that there is a gap in the market for investments in fast-growing smaller cities, particularly in the clinical research, logistics, telecom, renewable energy and healthcare sectors.
Aureos was founded in 2001 by Norfund and CDC Group, a UK government-owned development fund. It was fully spun off in 2008 but still counts CDC among its backers and has $1.3 billion in assets under management. The private equity firm targets investments in 50 emerging markets, with Asia, Africa and Latin America accounting for 35%, 50% and 15%, respectively, of its capital pool.
CDC announced in June that it would resume direct investments, focusing exclusively on South Asia and sub-Saharan Africa. It formerly operated solely as a fund-of-funds, investing in the likes of Aureos and Actis.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.