South Asia
Verlinvest acquires 20% of Everstone’s restaurant business
Family office Verlinvest, has acquired a 20% stake in Cuisine Asia, a Mauritius-based holding company set up by Everstone Capital to manage its food and beverage assets.
Elara Capital to launch India-focused healthcare fund
Elara Capital, a UK-based financial services company, is in talks with a counterpart in Dubai with a view to launching a private equity fund that will target healthcare investments in Asia and Africa. India will be a particular area of focus given Elara’s...
Beacon India acquires 1.3% stake in PE-backed construction firm
Beacon India Private Equity Fund, a $200 Million Indian growth capital vehicle, has acquired a 1.3% stake in NCC, a listed construction and infrastructure enterprise backed by The Blackstone Group and ChrysCapital Advisors. The transaction is worth INR216.4...
MCap, IDFC invest $20m in ReGen Powertech
Subbu Subramaniam, who spun out from Baring Private Equity Partners India three years ago to form MCap Fund Advisors, has backed ReGen Powertech in his first pure private equity deal. MCap’s previous investments were PIPE deals for companies including...
Sun-Apollo invests $15m in Indian housing project
Sun-Apollo India Real Estate Fund has invested INR750 million ($15 million) for a 49% stake in a housing project run by real estate developer Assotech in Gurgaon, India.
IndiaHomes secures $4 million from existing VC backers
IndiaHomes, a Delhi-based property services company, has received $4 million from existing venture capital backers. The firm is seeking to raise another $6 million in the coming fiscal year.
Baring injects $100m in RMZ India project
Baring Private Equity Partners (BPEP) has channeled INR5 billion ($100 million) into backing RMZ Corp’s acquisition of an office space project in Bangalore.
Warburg Pincus, Oak Hill seek exits from Indian BPO firms
Warburg Pincus and Oak Hill Capital Partners are both lining up exits from Indian outsourcing companies listed in the US. WNS plans to offer 10.5 million new and ordinary shares, which would reduce Warburg Pincus’ holding in the company from 47.84%...
Warburg Pincus completes partial exit from Kotak Mahindra
Warburg Pincus completed a public market sell down of part of its holding in India’s Kotak Mahindra Bank on Wednesday. The private equity firm raised about $170 million through the transaction.
Warburg Pincus, Carlyle consider backing Indian NBFC – report
Au Financiers, an Indian non-banking financial company (NBFC), is reportedly in talks with Warburg Pincus and The Carlyle Group for a third round of funding.
Indian MFI Ujjivan secures $25m in fifth round funding
Indian microfinance institution Ujjivan Financial Services has raised INR1.28 billion ($25.5 million) from seven investors in its fifth round of equity funding. Wolfensohn Capital Partners and Dutch development finance company FMO committed INR400 million...
Carlyle plans to sell part of HDFC stake - sources
Carlyle Group is said to be planning to sell 20 million shares in mortgage lender Housing Development Finance Corp. (HDFC). The exit could generate significant returns from the private equity firm's five-year investment in the mortgage company.
Aureos boosts Indian packaging firm with $7m
Aureos South Asia Managers, a unit of Aureos Capital, has invested $7 million in Indian paper packaging company Sai Security Printers to help it build a new facility in Bangalore.
Indian realty valuations to take a hit
The time is ripe for an exit for private equity funds focused on Indian real estate. But can investors keep up the pace without affecting returns?
India’s Flipkart raises $150m in fourth round of funding
Indian online retailer Flipkart has raised $150 million from existing investors Accel Partners and Tiger Global Management in its fourth round of funding.
Asian investors back eco-fuels producer LanzaTech
The Malaysian Life Sciences Capital Fund led a $55 million Series C round of financing for low-carbon fuels producer LanzaTech. Petronas Technology Ventures and Dialog Group, also Malaysian firms, participated in the round, as did existing investors Khosla...
Ashmore among the suitors for Milestone Capital – report
Milestone Capital, the Indian private equity firm set up by Ved Prakash Arya, who died last year, is attracting interest from Ashmore Investment Management as well as a clutch of local financial services players. Arya’s family are seeking around INR3...
IL&FS signs off five real estate part-exits in 4Q
IL&FS Investment Managers (IIML) completed partial exits from five of its investments in Indian real estate in the fourth quarter of 2011. It also invested INR7.7 billion ($154 million) in the three months to December 2011.
SBI, Edelweiss create $100m India PIPE fund
SBI Holdings and Edelweiss Financial Services have agreed to set up a fund focused on investments in listed small and mid-cap companies in India. The vehicle, known as EW SBIH Crossover Fund and based in Mauritius, will have initial capital of $100 million,...
Warburg Pincus promotes three Asia professionals to MD level
Warburg Pincus has named three new managing directors in Asia, including Zhiming Yue and Joe Gagnon in Hong Kong, as well as Nitin Nayar in Mumbai. It is part of a wave of promotions globally, which has seen nine senior professionals elevated to managing...
3i India invests $61m in Supreme Infrastructure
3i India will pay $61 million for a minority stake in a portfolio of four road companies held by Supreme Infrastructure India (SIIL), a Mumbai-based infrastructure company. The private equity firm will take a 49% stake in SIIL's subsidiary Supreme Infrastructure...
MCap-backed Jyothy Labs secures $110m loan
Jyothy Laboratories, the Indian consumer products maker backed by MCap Fund Advisors, has raised an INR5.5 billion ($110 million) loan to refinance its debt.
E&Y: India is world’s fourth most attractive FDI destination
India is the fourth most attractive investment destination globally, after the US, China and the UK, according to an Ernst & Young survey. Investors are drawn by the strong potential of the country’s domestic market, cost competitiveness and access...
BlackRock, DSP Group to roll out PE fund
BlackRock has teamed up with DSP Group, one of the oldest financial services firms in India, to set up a private equity fund which will target mid-sized companies.