South Asia
Narula to sell Lilliput, allowing Bain and TPG to exit
Lilliput, the kidswear brand that has been embroiled in bitter fight with shareholders Bain Capital and TPG Capital, plans to sell off its brands and retail business.
SBI teams up with Mahindra Satyam to roll out $50m fund
India-based IT consulting and business service provider Mahindra Satyam has partnered with Japanese venture capital firm SBI Holdings to roll out a $50 joint fund to invest in ICT companies globally.
Paracor to launch $200m real estate fund
Mauritius private equity firm Paracor Capital Advisors plans to launch an INR9.87 billion ($200 million) fund, which will invest in real estate projects in the seven top cities in India.
Ojas Venture Partners backs Indian tech start-up BrizzTV
Indian technology start-up BrizzTV Media Lab has received Series A funding from Ojas Venture Partners, a VC firm that backs early stage technology-based businesses.
Abraaj Capital buys Aureos to boost emerging markets exposure
Abraaj Capital has acquired Aureos Capital, creating an entity with approximately $7.5 billion in assets under management and 150 investment professionals across 30 countries. The purchase enables Dubai-headquartered Abraaj, which focuses on the Middle...
Banyan Tree invests $15m in Dilip Buildcon
Banyan Tree Growth Capital, a $100 million private equity fund that provides capital to middle-market Indian firms, has invested INR750 million ($15 million) in Bhopal-based infrastructure company Dilip Buildcon.
Blackstone, Carlyle agree $4b Reliance Infratel buyout
The Carlyle Group and The Blackstone Group have signed a term sheet to buy up to 95% of Reliance Communications’ telecoms tower unit, Reliance Infratel.
Westbridge, Intel in $15m July Systems round
Westbridge Capital, the Indian private equity firm spun out of Sequoia Capital, has participated in a $15 million round of funding for US mobile application platform provider July Systems. Technology-focused investor Updata Partners led the investment,...
CPPIB hires Goldman’s Mark Machin as Asia president
Canada Pension Plan Investment Board (CPPIB) has appointed former Goldman Sachs executive Mark Machin as Asia president. He will be based in Hong Kong and take responsibility for the pension fund’s investment strategy and programs throughout Asia Pacific.
Jacob Ballas commits $20m to Indian engineering company
Jacob Ballas Capital India has aggreed to pay INR1 billion ($20.29 million) for a minority stake in DBM Geotechnics and Constructions, an Indian engineering infrastructure firm.
L Capital buys Wolfensohn's Fabindia stake
L Capital Asia, the private equity arm of LVMH, has bought Wolfensohn Capital Partners' 8% stake in Indian fashion company Fabindia. The company, which is seeking capital to fund expansion, has been talking to potential investors for months.
NVP channels $15m into Manthan Systems
Norwest Venture Partners (NVP) has led a $15 million Series C funding round for Indian business intelligence and analytics solutions provider Manthan Systems.
FGPI gives $41m cash boost to Aptuit Laurus
Fidelity Growth Partners India (FGPI), the India-focused the private equity arm of Fidelity Worldwide Investment, has invested INR2 billion ($40.6 million) in pharma company Aptuit Laurus.
IDG bets on potential e-commerce consolidator
Survival of the fittest is a concept that applies to almost every ambit and rings particularly true in the field of Indian e-commerce of late. Last week Flipkart.com, the country’s largest online retailer, backed by Tiger Global Management and Accel...
IDG, SAIF inject $14m into Firstcry.com
IDG Ventures India and SAIF Partners have led a $14 million Series B round for Indian e-commerce start-up Brainbees Solutions, which runs the First Cry and GoodLife websites. The deal is thought to be one of India’s biggest venture investments in a...
VSG to facilitate LP direct investment in India
VSG Capital Advisors, a new investment bank, has been established in India to advise on domestic and cross-border deals. The move comes at a time when pension funds and sovereign wealth funds are tipped to raise their direct investment allocations to...
Warburg Pincus poised to commit $50m to Indian NBFC
Warbug Pincus is closing in on a $50 million investment in Au Financiers, an Indian non-banking financial company. The deal provides a partial exit for existing investor Motilal Oswal Private Equity.
VC-backed Flipkart buys rival Indian e-commerce site
Indian online retailer Flipkart has purchased rival e-commerce platform Letsbuy.com for an estimated $25 million. Both companies are backed by Tiger Global Management and Accel Partners, but no details were disclosed on the structure or value of the transaction.
Kotak PE invests $25m in Minda Corporation
Kotak Private Equity Group (KPEG), part of Kotak Mahindra Group, has reportedly invested INR1.25 billion ($25 million) for a minority stake in automotive component firm Minda Corporation.
CDC appoints ex-Actis partner head of direct investment
CDC Group, the UK development finance institution that targets private equity investments in South Asia and sub-Saharan Africa, has appointed Mark Pay to head up its direct investments division. Pay is rejoining the group, having departed in 2004 as part...
Thomas Cook plans to sell its Indian arm
Thomas Cook has initiated a process to sell its 77% stake in Thomas Cook India, a transaction intended to bring down its debt up to GBP890 million ($1.4 billion). Several Private equity investors are said to be potential suitors.
Temasek sells $300m ICICI Bank stake
Temasek Holdings, Singapore’s second-largest sovereign wealth fund has sold a 1.4% stake in ICICI Bank for INR14.7 billion ($299 million), reducing its shareholding in India’s biggest private bank to 2%.
Actis launches tool to assess impact of energy investments
Emerging markets private equity firm Actis has unveiled a tool for assessing the sustainability of its energy investments. It aims to capture the key drivers that build value and pinpoint where improvements could be made.
TPG, Bain in talks to invest $50m in Parag Milk - sources
TPG Capital India and Bain Capital are said to be in advanced talks with India’s Parag Milk Foods about purchasing $50 million worth of shares in the dairy products manufacturer.