South Asia
GA, ChrysCapital-backed Hexaware valued at $700m
General Atlantic (GA) and ChrysCapital have seen Hexaware Technologies, the IT services provider they put on the block several months ago, achieve a speculative valuation of $700 million.
Kotak Realty reaps 25% return on Noida IT park sale
Kotak Realty Fund, the properties arm of Kotak Mahindra Bank, has reaped an IRR of less than 30% on the sale of its interest in a Noida-based information technology park.
Red Fort to raise $500m for second real estate fund
Red Fort Capital, an India-focused real estate investor, has announced it is targeting INR10-15 billion ($500 million) for its latest property fund.
ICICI Ventures exits Prize Petroleum stake to HPCL
ICICI Ventures has exited its stake in Prize Petroleum to Hindustan Petroleum Corporation (HPCL). The private equity firm owns 10% of Prize, with ICICI Bank and HDFC holding 35% and 5%, respectively. Each party is selling up, allowing HPCL, which already...
General Atlantic invests $108m in Mu Sigma
General Atlantic (GA) has led a $108 million round for India-focused analytics services provider Mu Sigma, in what may be the largest private equity deal in this segment in an emerging market.
PTC India to set up PE vehicle with sovereign wealth fund
PTC India has agreed to set up a private equity fund with an unnamed sovereign wealth fund, according to the chairman of the state-run power trading company. It will have initial capital of $200 million and target stakes in power projects in India and...
Carlyle, Blackstone in separate talks over Reliance Infratel
The Carlyle Group and The Blackstone Group are in separate talks with Reliance Communications concerning an investment in its telecom tower unit. A deal for Reliance Infratel could come in February or March, subject to agreements on its valuation.
Blackstone buys DLF Ackruti Info Parks for $153m
An affiliate of Blackstone Group has acquired a firm that owns a special economic zone in India from DLF, the country’s biggest real estate developer, for INR8.1 billion ($153 million).
Jacob Ballas pumps $38m into Religare Finvest
Jacob Ballas Capital India has given Religare Finvest, the non-banking arm of Indian financial services group Religare Enterprises, a INR2 billion ($37.5 million) cash injection.
India's GVK to sell minority stake in Australian business
GVK Power & Infrastructure plans to sell a minority stake in its Australian unit in order to retire debts and fund operations. Private equity investors and strategic partners, working independently or in tandem, are seen as likely buyers.
Actis invests $71m in India's Endurance Technologies
Emerging markets investor Actis has invested INR3.7 billion ($71 million) in Endurance Technologies, one of India’s largest privately held auto component manufacturers.
IL&FS Private Equity buys IL&FS Energy stake for $44m
IL&FS Private Equity, has invested INR2.3bn ($44 million) for a stake in Indian power generation firm IL&FS Energy Development. The two parties have the same parent company.
GCA to invest $200m in India
San Francisco-based private equity firm Gerken Capital Associates (GCA) has announced that it intends to begin investing in the Indian market with an initial commitment of $200 million.
Warburg Pincus-backed port seeks expansion into Australia
Gangavaram Port, the Warburg Pincus-backed owner of India's deepest seaport, is reportedly in talks to acquire several operational seaports in Australia and Africa.
TPG to take 20% stake in Shriram Transport Finance
TPG Capital will hold a 20% stake in Shriram Transport Finance once the Indian company merges with its unlisted parent and largest shareholder Shriram Holdings Madras. The US private equity firm currently owns 49% of Shriram Holdings and the merger with...
India Awards: Financial Advisor of the Year – Ernst & Young
Ranjan Biswas, national director for transaction advisory services for Ernst & Young India, looks at the role financial advisors can play in facilitating private equity transactions.
India Awards: Legal Advisor of the Year – Khaitan & Co
An effective legal advisor needs TO be on top of the latest regulatory developments. In India this is perhaps easier said than done. In the past six months, various regulators have move forwards then backwards on put and call options, taken PE firms to...
India Awards: PE Deal of the Year – Hero Honda Motors
India sees few big-ticket private equity deals outside the infrastructure space. Securing a stake in a leading player in the automotive sector is even rarer. Bain Capital is therefore all too aware that its investment in Hero Honda Motors in March isn’t...
India Awards: Fundraising of the Year – Everstone Capital
For all the concerns raised about the prospects for Indian fundraising in 2012, fund managers with strong track records – whether spin-outs, franchise reboots or longstanding players – should still be able to attract capital. This notion holds up when...
Morgan Stanley to invest $125m in Indian real estate project - sources
Morgan Stanley’s global real estate fund is reportedly in negotiations with Mumbai’s Sheth Developers to invest $100 million to $125 million in a local residential project.
Everstone buys stake in Delhi restaurant chain
Everstone Capital has agreed to buy a 45% stake in Pind Balluchi, a New Delhi-based restaurant chain, for about $20 million. The private equity firm will invest in JS Hospitality Services, which operates about 30 restaurants under the Pind Balluchi brand....
Accel takes stake in Trivone Digital
Venture capital firm Accel Partners has invested an undisclosed amount for a minority stake in Bangalore-based digital media content provider Trivone Digital.
Venture fund to target India's neglected Dalit people
The Dalits, a group that faced years of prejudice at the bottom of India’s caste system, are set to benefit from the country’s first ever venture capital fund focusing solely on Dalit-owned enterprises. It plans to support a combination of start-ups and...
StanChart invests $70m in TPG-backed Greenko
TPG portfolio company Greenko, a cleantech developer in India, has received a $70 million funding tranche from Standard Chartered.