Launching the 2012 AVCJ India Awards
India sees relatively few big-ticket private equity deals outside the infrastructure space. As such, Bain Capital’s $851 million investment in Hero Honda Motors last March, was an outlier – and by far the largest buyout of 2011.
The private equity firm and Government of Singapore Investment Corporation (GIC) came in when India's Hero Group, controlled by the Munjal family, wanted to buyout its joint venture partner, Honda Motor.
Bain duly won the prize for private equity deal of the year at the 2011 AVCJ Indian Private Equity and Venture Capital Awards. "It was a unique set of circumstances," Pawan Singh, a partner with Bain Capital India who worked on the deal, observed at the time. "Companies with this kind of market position, scale and operational history are usually able to tap the public market."
This year the private equity firm managed to top Hero Honda by agreeing a $1 billion investment. The acquisition of a 30% stake in business process outsourcing player Genpact was - of course - a PIPE deal, and facilitates the partial exit of existing investors Oak Hill Capital and General Atlantic.
Is Bain now the presumptive favorite to win the private equity deal of the year award for the second year in a row? Participants in the healthcare sector may beg to differ. The sector has been a hive of activity in 2012, with investments such as Olympus Capital's $97 million commitment to DM Healthcare and Advent India's $105 million capital injection in CARE Hospitals.
The decision, as usual, lies in the hands of AVCJ readers. The AVCJ Editorial Board is pleased to announce that nominations for the 2012 Awards are now open. We are inviting our entire reader base and many others in the industry to put forward candidates to be considered for the nomination shortlist.
The categories are as follows:
• Firm of the Year
• Private Equity Professional of the Year
• Private Equity Deal of the Year
• Venture Capital Deal of the Year
• Exit of the Year
• Fundraising of the Year
• Legal Advisor of the Year
• Financial Advisor of the Year
• AVCJ Special Achievement Award
Nominations can be made via email (avcjawards@incisivemedia.com) or online and will be accepted until October 26. The AVCJ Editorial Board will evaluate the entries and submit a long list in each category to a select panel of industry judges. The judges will consider these recommendations, and if necessary, review the original submission documents and propose alternative candidates. The final shortlists - no more than four candidates per category - will then be drawn up.
The shortlists will be posted online for the entire AVCJ.com user base to vote on from November 8 until November 22. No more than 10 votes will be accepted from employees of a nominated firm. The AVCJ subscriber base has a 50% say in the final result, with the judges and the AVCJ Editorial Board each accounting for 25%.
The winners will be announced at an invitation-only gala dinner in Mumbai on December 6, during the AVCJ India Forum. For further details, go to www.avcjindia.com.
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