South Asia
WL Ross settles with SEBI over SpiceJet case
WL Ross has paid INR11 million ($177,000) in a settlement with the Securities and Exchange Board of India (SEBI), ending a long-running case over its investment in low-cost Indian airline SpiceJet.
Infrastructure fundraising: A beast with two heads
At one end of the market large institutional investors are looking to access Asian infrastructure through separate accounts or independently; at the other, plenty of LPs are still looking to make fund commitments
India real estate: The long game
India's economic slowdown has created opportunities for real estate investors still convinced by the country's long-term fundamentals and with strategies that take capital where it is most needed
India cleantech: Expansion time
PE-backed companies have carved out a sizable share of India's nascent renewable power production sector, particularly in the wind space. The quickest to scale up will gain a competitive advantage
NSR buys Moshe's Fine Foods
New Silk Route (NSR) has acquired a majority stake in Mumbai-based Moshe’s Fine Foods, which runs a chain of Mediterranean cuisine restaurants and cafés. The financial terms of the deal were not disclosed.
GEF invests $12m in India's Rishabh Instruments
Global Environment Fund has invested INR750 million ($11.98 million) in Industrial Control Products maker Rishabh Instruments (RI), through its small and medium-sized enterprises-focused South Asia Clean Energy Fund (SACEF).
A&M launches India transaction advisory practice, hires Vikram Utamsingh
Alvarez & Marsal (A&M), a consultancy specializing in performance improvement and turnarounds, has expanded its India business with the launch of a dedicated transaction advisory practice. The new practice will be led by Vikram Utamsingh, formerly of...
Helion, Kalaari lead $10m Series B for Simplilearn.com
Helion Venture Partners and existing backer Kalaari Capital have led a $10 million Series B round for professional certification exam preparation provider Simplilearn Solutions.
Henry Kravis on Asia
KKR co-founder Henry Kravis recently briefed a group of reporters on his firm's investment strategy in Asia, offering glimpses of a business that is rooted in private equity yet stretches well beyond it.
India’s IDFC makes $644m first close on second infra fund
IDFC Alternatives has reached a $644 million first close on its second core infrastructure fund after just eight months in the market, making it one of the largest Indian fundraises in recent times. India Infrastructure Fund II (IIF2) has a full target...
MOPE raises $155m India growth fund
Motilal Oswal Private Equity (MOP) opted for more of the same when raising its second growth capital vehicle - India Business Excellence Fund (IBEF) II - remaining focused on domestic consumption, financial services, healthcare, manufacturing and infrastructure...
KKR India NBFC raises $100m from US pension fund - report
KKR India Financial Services, the global private equity firm's non-banking financial company (NBFC), has reportedly raised $100 million from The Teacher Retirement System of Texas.
India’s Micro Housing Finance Corp raises $5.5m in new equity funding
Unilazer Ventures and existing backers Caspian Advisor’s India Financial Inclusion Fund and the Michael and Susan Dell Foundation have invested INR350 million ($5.5 million) in Micro Housing Finance Corporation (MHFC), which makes housing loans to lower...
India’s Tata Capital to launch $300m Africa fund
Tata Capital plans to launch an Africa private equity fund with initial capital of about $300 million. It will focus on consumer goods, agriculture and agri-processing.
ADB to become GP
The Asian Development Bank (ADB) is to turn GP to enhance its investment capability, with a fund targeting climate change and renewable energy to launch next year.
Affordable healthcare chain Glocal gets $4m from SIDBI VC
SIDBI Venture Capital has invested INR250 million ($3.93 million) in Glocal Healthcare Systems, which operates multi-specialty hospitals in semi-rural parts of East India.
TPG invests $23m in Sutures India
TPG Growth has acquired a minority stake in Bangalore-based surgical equipment maker Sutures India for INR1.45 billion ($22.9 million).
PE-backed Endurance International to buy India's Directi
Endurance International Group, a US-based web hosting services provider controlled by Warburg Pincus and Goldman Sachs, has agreed to buy Indian online services firm Directi Web Technology for up to $110 million.
ADB to invest $245m in Pakistan’s power sector
The Asian Development Bank (ADB) will invest $245 million to improve Pakistan’s power distribution systems. The capital, structured as a loan, is the third tranche of the bank's Power Distribution Enhancement Investment Program.
Toshiba expands in India with 3i’s Vijai Electricals acquisition
Japan’s Toshiba Corporation will acquire the majority of Vijai Electricals’ electricity transmission and distribution (T&D) business for approximately $200 million. 3i bought a minority stake in Vijai for $25.8 million in 2006.
LeapFrog in $204m first close on emerging markets microfinance fund
Specialist microfinance investor LeapFrog Investments has reached a first close of $204 million for its second fund after just eight months in the market. The vehicle, which has a full target of $400 million, will back companies in South Asia, Southeast...
Secondaries: Bifurcation point
More LP interests in Asian funds are coming onto the secondary market, but the region remains the industry’s future rather than its present. Which investors will be around to witness it coming to bloom?
Q&A: Jupiter Capital's Indika Hettiarachchi
Indika Hettiarachchi, director at Sri Lanka-based Jupiter Capital Partners, outlines why India’s economic troubles could help other South Asian countries get a bigger share of investment in the region
Standard Chartered PE raises stake in Fortis Healthcare
Standard Chartered Private Equity (SCPE) has invested a further INR370.3 million ($5.7 million) to buy preferential shares in India’s Fortis Healthcare. It brings SCPE’s total investment into the company to approximately INR2.5 billion.