India’s Essel Group to launch private equity fund
Essel Group, the Indian conglomerate headed by media mogul Subhash Chandra, has set up a new investment arm - Essel Financial Services - that will target private equity, infrastructure, real estate and financial services.
The new entity comprises two businesses: a private equity fund under the name of Essel Finance Managers and an investment banking unit known as CAPSTAR. Sumit Kumar, who was working with Beekman Helix India, has been appointed head of the private equity division.
The investment banking unit - which focuses on M&As, pre-IPO deals, qualified institutional placement and portfolio management services across infrastructure, real estate and financial services sectors - has already set up four offices in Mumbai, Noida, Bangalore and Delhi.
According to The Business Standard, CAPSTAR has developed a pipeline of deals worth INR20 billion ($366 million). Abhinav Bhushan, former head equities of capital transactions at Knight Frank India, leads the unit.
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