South Asia
Asian infrastructure: Building blocks
There is no denying the potential for infrastructure investment in Asia. Although the policies and structures governing private equity involvement are improving, it remains difficult terrain.
India's Kiran Energy gets $50m from PE consortium
Argonaut Ventures, Bessemer Venture Partners and New Silk Route Partners have invested $50 million in Kiran Energy Solar Power, a solar power project developer in India.
Carlyle, General Atlantic discuss $200m investment in Flipkart
The Carlyle Group and General Atlantic are in talks over a $150-200 million joint investment that would see them take a minority stake in Indian online retailer Flipkart.
Matrix India invests $12m in womenswear firm
Matrix Partners India has invested INR600 million ($12 million) in domestic womenswear brand TCNS Clothing, marking the company’s first institutional round of funding.
Lilliput seeks out-of-court settlement with Bain, TPG
Lilliput Kidswear is seeking an out-of-court settlement with investors Bain Capital and TPG Capital, having taken legal action earlier this month to prevent the private equity firms from exiting the company in response to a corporate governance scandal.
Delhi overshawdows Bangalore as startup hub
Delhi has overtaken Bangalore as India’s hub for technology startups, with at least 220 companies launched in Delhi over the past three years compared to 159 in Bangalore, new research finds.
GVK to divest 26% stake in airport arm to PE for $600m
GVK Power & Infrastructure is looking to divest an approximate 26% stake in its airport subsidiary GVK Airport Developers – the largest stakeholder in the Mumbai and Bangalore airports. The company is in talks with four private equity suitors over the...
GIC, Morgan Stanley consider Mumbai real estate asset
Morgan Stanley and the Government of Singapore Investment Corp. (GIC) are among the suitors to purchase real estate in central Mumbai from domestic textile firm Alok Industries for $200 million, Reuters reported.
CDC invests $50 million in Pragati India Fund
CDC Group, the UK development finance institution, has committed $50 million to Narayanan Shadagopan's Pragati India Fund.
Reliance Capital backs Indian personal care products firm
Reliance Capital’s private equity arm has invested INR1.36 billion in VVF, an Indian manufacturer of personal care products. The transaction, structured as a combination of equity shares and convertible debentures, will see the private equity firm take...
Milestone Capital approached with merger, buyout offers
Milestone Capital Advisors is considering a merger or buyout that has the potential to be the largest transaction ever seen in India’s private equity industry. It comes two months after Ved Prakash Arya, Milestone’s founder and CEO, died in a freak...
Q&A: Sanjiv Kapur of Wolfensohn India Advisors
Sanjiv Kapur, managing director of Wolfensohn India Advisors, explains how private equity firms can keep their investors and their investment professionals happy
EQT, TPG funds reflect Asia’s PE power
Asia's growing significance in the private equity world was further confirmed in two separate fundraising events last week. First in Europe, where EQT Partners announced that Asia Pacific LPs were responsible for nearly one quarter of total commitments...
Macquarie, SBI target second India infrastructure fund
Macquarie Group and State Bank of India (SBI) are targeting $1-1.5 billion for their second India-focused infrastructure fund. Plans for the new vehicle come as the first fund, SBI Macquarie Infrastructure Trust, which closed in March at $1.2 billion,...
Accountants to be investigated over Lilliput allegations
India’s Ministry of Corporate Affairs is investigating the role of Ernst & Young (E&Y) and its member firms in the alleged accounting problems at Lilliput Kidswear. It wants to establish if there was any conflict of interest.
NVP India broadens focus to include into seed, late-stage deals
Norwest Venture Partners (NVP) India is expanding its investment strategy to include seed and late-stage transactions, having previously focused on venture and growth deals. The firm is also broadening its sector coverage to include healthcare, education...
Road operator Ashoka Buildcon seeks $150m
Indian roads and bridges operator Ashoka Buildcon has entered talks with potential private equity and strategic investors to raise $150 million to finance seven road projects.
Carlyle, Advent to launch joint bid for Tech Mahindra stake
The Carlyle Group and Advent International are expected to launch a joint bid for British Telecom’s 23.2% stake in Tech Mahindra, India’s fifth-largest IT services firm. The deal could be worth $500 million.
Intel Capital plans second India fund
Intel Capital is planning to launch its second India-focused private equity fund. The company, which spun out from chip maker Intel, is targeting a raise of $250 million, investments bankers told The Business Standard.
CLSA enters India test preparation space
India's parallel education segment remains attractive to private equity investors as rising incomes enable parents to supplement the core services provided by schools and universities with specialist support in areas such as test preparation. CLSA Capital...
PE players see India’s wind potential
Private equity investment in India's cleantech sector continues to rise. With two months remaining in 2011, $505.6 million has been committed in 13 deals, more than double the amount for the whole of last year. Investments are approaching the pre-crisis...
South African hospital firm invests in India's Max Healthcare
South African hospital chain Life Healthcare will acquire at 26% stake in Max Healthcare for INR5.16 billion ($104 million) in what is one of the largest foreign investments in India’s healthcare sector.
Khazanah’s Parkway tipped to buy Sterling Hospitals from Actis
Parkway Holdings, the Singapore-based hospital operator owned by Khazanah Nasional, is the favored bidder for Actis’ Sterling Hospitals. The deal, which could be worth around INR7 billion ($142 million), would allow Parkway to enter India’s $65 billion...
TPG’s Greenko to build Indian wind farms with GE
TPG portfolio company Greenko Group will build $115 million of wind farms in India alongside General Electric (GE). This represents GE’s first investment in India’s renewable energy sector.