Kedaara raises at least $500m for debut India fund
Kedaara Capital, a private equity firm established by former Temasek India head Manish Kejriwal, is said to have raised $500 million for its debut fund. Another source indicated to AVCJ that Kedaara was on course for $550 million and might push on to $600 million.
Investors include Ontario Teachers Pension Plan, and Business Standard reports that the fund has also received commitments from Temasek Holdings and Abu Dhabi Investment Authority (ADIA). The LPs are expected to co-invest alongside the GP.
The fund was set up in October 2011 by Kejriwal and Sunish Sharma, formerly of General Atlantic. It will focus on carve-outs and spin-offs of non-core assets from large corporations as well as emerging companies in the consumer, financial and business services, pharmaceuticals and healthcare sectors.
Kedaara is likely to deploy $75-100 million per investment, take controlling positions and bring operational value-add.
Clayton, Dubilier & Rice has partnered with the firm to provide the brand name and access to foreign LPs. Kedaara will contribute on-the-ground deal-sourcing and portfolio management skills.
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.