ChrysCapital wins major trophies at 2012 AVCJ India Awards

ChrysCapital's awards - collected by Managing Director Gulpreet Kohli - acknowledged a quick closing of the firm's $510 million sixth fund in barely half a year. This came despite the departure of founder Ashish Dhawan. 

The vehicle, which was heavily oversubscribed and exceeded the initial target of $400-500 million, is the largest raised in India this year yet it is little more than half the size of its predecessor. It represents a slight change in strategy for ChrysCapital as the GP targets smaller deals.

"Firm of the Year is a special award for us especially in the year when our firm is undergoing a transition," Kohli said. "The two things we've done well are transparency across all levels and making sure that people within the fund behave like owners."

Nayar's award paid tribute to KKR India's increasingly broad asset management operation. While the private equity player completed one notable private equity investment in the past 12 months - TVS Logistics - its non-banking finance company has been very active, providing local currency debt products to entrepreneurs.

"We have tried to respond to the Indian investment environment, which requires flexibility and support," Nayar said. "While public markets don't look nice, strategic investors and private equity will be extremely valued. It's time to partner with best quality entrepreneurs and offer long-term support and expertise, because Indian companies do need help and they are recognizing that."

Country Director Avnish Mehra received the Private Equity Deal of the Year prize on behalf of Advent International. The firm's $105 million investment in CARE Hospitals, a multi-specialty hospital chain, is a strong example of a combination of reasonable scale, strong market position, experienced management and a need for capital.

The Private Equity Exit of the Year went to General Atlantic and Oak Hill Capital Partners, for their sale of a 30% holding in business process outsourcing firm Genpact to Bain Capital for $1 billion. Accel Partners, Iconiq Capital, Naspers and Tiger Global claimed the Venture Capital Deal of the Year prize for Flipkart, while Ernst & Young and AZB & Partners were named top financial advisor and legal advisor, respectively.

The awards were presented at a gala dinner as part of the 2012 AVCJ Private Equity & Venture Forum India (www.avcjindia.com), which continues today in Mumbai.

 

THE WINNERS

• Firm of the Year - ChrysCapital Partners

• Private Equity Professional of the Year - Sanjay Nayar (KKR)

• Private Equity Deal of the Year - CARE Hospitals (Advent International)

• Venture Capital Deal of the Year - Flipkart (Accel Partners/Iconiq Capital/Naspers/Tiger Global)

• Private Equity Exit of the Year - Genpact (General Atlantic/Oak Hill Capitall)

• Fundraising of the Year - ChrysCapital VI (ChrysCapital Partners)

• Financial Advisor of the Year - Ernst & Young

• Legal Advisor of the Year - AZB & Partners

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