India's Centrum launches $75m PE fund

The vehicle, known as Kalpavriksh, is Centrum's first PE fund, although the company has participated in the industry previously through a partnership with IPAL Fund Managers, a Mumbai-based real estate GP. It will invest in mid-sized, unlisted companies with a focus on the financial services, education, healthcare and fast-moving consumer goods sectors.

The fund has a life of five years with a two-year extension. It will be headed by former Nestle executive, Giri Krishnaswamy.

"Kalpavriksh is the first in the series of PE funds that we will raise," Jaspal Bindra, chairman of Centrum, said in a statement. "There is an increased appetite from domestic high net worth individuals to be a part of sophisticated investment vehicles such as private equity funds. The sectors that we are focusing on are purely demand driven and have a potential of growing multi fold over the next 4-5 years."

Incorporated in 1977, Centrum provides advisory and financial services in the areas of fundraising, infrastructure development, government borrowing, corporate restructuring and money market intermediation. At the retail level, the company offers advisory services and distributes financial products including mutual funds and insurance products.

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• Topics
• South Asia
• Consumer
• Fundraising
• Growth
• India
• Centrum Capital
• Financial Services
• healthcare
• Education