South Asia
Carlyle, Sequoia in talks to invest up to $50m in JSM - report
The Carlyle Group and Sequoia Capital are in separate talks to invest $40-50 million in JSM Corp, which operates the Indian franchises of Hard Rock Café and California Pizza Kitchen.
IFC lends $6.5m to Indian food logistics company
International Finance Corp. (IFC), the World Bank's investment arm, will lend $6.5 million to food supply chain Snowman Logistics, in a move to foster efficiency and organization in India’s logistics sector.
Manipal Hospitals to raise $29m from private equity
Manipal Hospitals, India’s third largest healthcare group, is seeking as much as INR1.5 billion ($29 million) from private equity firms for a minority stake in order to fund expansion.
India's IHG buys UK food producer from Duke Street
India Hospitality Group (IHC) has acquired UK-based ready-made food producer Adelie Food Holding from Duke Street Capital for $350 million. The deal – the largest overseas acquisition by an India-focused food and beverage company in six years – is...
Frontline Strategy backs India railways supplier
Frontline Strategy’s India Industrial Growth Fund (IIGF) has committed $9 million to DTL Ancillaries, a Pune-based company that manufactures components used in the rail and automotive industries. The investment is structured in two tranches, the first...
India Value Fund recruits former Network18 chief
India Value Fund Advisors (IVFA) has appointed Haresh Chawla as a partner. Chawla, who stepped down as CEO of media company Network18 earlier this year, will take responsibility for investments in the media and entertainment space. He will also work with...
GIC, Baring invest $97m in India’s Marico
Government of Singapore Investment Corp. (GIC) and Baring India Private Equity will purchase a 4.8% stake in Marico, the leading Indian manufacturer of personal care products, for INR5 billion ($97.7 million). The proceeds will partly be used to finance...
TA Associates backs Indian online payment provider
TA Associates has acquired a minority stake in BillDesk, India’s leading online payment services provider. The investment, terms of which were not disclosed, is seen as a means of leveraging both increasing internet penetration in the country and growing...
Second-largest India exit for Warburg Pincus
"When Warburg Pincus first invested in Kotak Mahindra Bank in 2004, what was being created was a banking institution from scratch,” says Vishal Mahadevia, managing director of Warburg Pincus India.
Foreigners secure entry to India’s secondaries market
Indian regulators have opened the door for foreign PE investors seeking to buy secondary stakes in domestic companies. Is this the jumpstart India’s secondary market needs?
Direct investment: Silent partners?
Limited partners are attracted by the low costs and potentially high returns of direct investment opportunities in Asia. Those with a finger on the market’s pulse are likely to prevail, provided they don’t get too greedy
The listening regulator
To ask an Indian private equity professional what he thinks of domestic regulators is to invite a torrent of feedback, most of it critical. “They don’t understand the industry… They don’t listen to what we have to say… They are incompetent…”...
India PE fund invests in bookadda.com
T.V. Mohandas Pai, the former Infosys director, and his partner Ranjan Pai have invested in Indian online book retailer bookadda.com through their $100 million private equity fund.
Advent International to invest $105m CARE Hospitals
Advent International will invest $105 million in multi-specialty hospital chain CARE Hospitals, representing its third investment in India.
ASK boosts Godrej redevelopment project with $20m
ASK Property Investment Advisors has injected INR1 billion ($19.8 million) into Godrej Properties’ (GPL) first redevelopment project. This comes five months after it was announced that Godrej was looking to exit up to 49% of a commercial realty project...
Indian regulator finalizes PE oversight measures
The Securities and Exchange Board of India (SEBI) has released a final version of regulations intended to tighten its control over the private equity industry. The new rules governing alternative investment funds (AIFs) replace the venture capital funds...
India Agri Business Fund backs Super Agri Seeds
Rabo Equity Advisors’ India Agri Business Fund has committed INR500 million ($9.8 million) to Super Agri Seeds for a significant minority stake. It is the fund’s eighth investment and the first in a seeds company.
PE firms wary of India’s proposed tax law changes
Foreign private equity investors remain concerned about perceived ambiguities in India’s proposed anti-avoidance legislation, which impacts the tax treatment of offshore structures used to channel capital into the country. The legislation forms part...
TPG, Carlyle in talks for Fortis stake – report
TPG Capital India and The Carlyle Group are reportedly in talks to buy a 15-20% stake in Fortis Healthcare India, the listed chain of hospitals backed by Government of Singapore Investment Corp.
India relaxes rules on secondary deals by foreign PE firms
Foreign private equity and venture capital firms now have license to pursue direct secondary transactions in India after the country’s central bank relaxed regulations on their activity. It potentially opens the door to a string of asset purchases from...
Helion remains committed to early-stage deals
Helion Venture Partners has restricted its third fund to $255m despite oversubscriptions. It will continue to focus on early-stage investments in the technology and consumer space
Warburg Pincus sells Kotak Mahindra stake for $272m
Warburg Pincus has fully exited India’s Kotak Mahindra Bank by selling the remaining 3.6% stake it held in the institution for INR14 billion ($272 million) on the public markets.
KKR India recruits Tashwinder Singh as director
KKR has hired Tashwinder Singh as a director of its India arm based in Mumbai. He joins from Citigroup India, where he spent more than 18 years.
Tata Capital to offer private investment banking in Singapore
Tata Capital will set up a private investment banking business in Singapore with a view to starting operations within two years. It plans to focus on private equity and fund management capabilities as well as wealth management and securities broking.