South Asia
India’s Just Dial plans NASDAQ listing
Private equity-backed Indian search engine Just Dial is looking to list its international unit on NASDAQ, barely two months after filing for a domestic IPO worth up to INR3.6 billion ($79 million).
SAP Ventures backs Indian internet services firm One97
SAP Ventures has committed $10 million to One97 Communications, a mobile internet services firm that delivers content and advertising services to customers including Airtel, Vodafone, Coca-Cola, Nestle and Samsung.
Coffee Day subsidiary Way2Wealth gets $30m from KKR
Indian boutique financial services firm Way2Wealth will receive $30 million from KKR in what is expected to be a structured financing deal rather than a typical private equity placement.
Revised India FDI regulations threaten PE exits
Private equity activity in India is expected to take a hit following the introduction of new rules that clamp down on foreign direct investment (FDI) into the country.
India PE deals reach $8.57b in first three quarters of 2011
Private equity firms invested approximately $2.25 billion in 98 deals in India in the third quarter of 2011, bringing the industry’s total to $8.57 billion in 317 transactions for January-September. This marks a significant increase on the $6.4 billion...
General Atlantic plans four India deals worth up to $200m each
General Atlantic is considering four acquisitions in India worth $100-200 million each, according to Ranjit Pandit, the private equity firm’s head of investments in the country. The planned deals were in the internet, logistics, financial services and...
Fund formation: Singapore asserts its onshore qualities
Asia-focused private equity players from the likes of India and Australia are becoming fans of Singapore’s tax-efficient offshore structures
CLSA commits $22m to India’s Resonance Eduventures
CLSA Capital Partners has invested $21.8 million for a minority stake in Resonance Eduventures, an Indian education specialist. It marks the fifth investment in India by the $333 million ARIA Investment Partners III and the 10th by the ARIA group of funds...
Helix-backed Hi-Rel Electronics sold to Hitachi
India’s Hi-Rel Electronics, backed by Helix Investor Advisors, has been acquired by Japan’s Hitachi for an undisclosed price.
Tata Opportunities Fund makes second close at $550m
Tata Capital has completed the second close of its latest private equity vehicle, the Tata Opportunities Fund LP, at $550 million.
Accel nears close of $150m early-stage India fund
Accel Partners is reportedly on track to raise its first India-dedicated fund - a $150 million early-stage investment vehicle – and is expected to announce a close in the coming weeks.
Carlyle purchases 9% stake in India Infoline
The Carlyle Group has acquired a 9% stake in the listed unit of India Infoline Group (IIFL), a retail and institutional brokerage, on the open market.
HDFC targets $600m property fund
Housing Development Finance Corp. (HDFC), India’s largest mortgage lender, is looking to raise a $600 million fund from overseas investors. It will be the firm’s property-focused vehicle.
ASK Group, Pravi Capital to launch joint PE fund
Mumbai-based financial services firm ASK Group has teamed with Pravi Capital Advisors to launch a private equity fund, with a view to investing $200 in domestic companies.
CDC focuses on direct investments, debt in India
CDC Group, the UK development finance institution, is changing its strategy in India to focus on direct investments, co-investments and debt, as well as making commitments to private equity fund managers. It will also make investments in early-stage funds.
Blue River Capital names Raman Madhok as MD
Blue River Capital, a Mumbai-based private equity investor, has appointed Raman Madhok as managing director, charged with strengthening the firm's India business.
Intel Capital invests $20m in Indian tech companies
Intel Capital has invested $20 million in six Indian companies, including semiconductor company Saankhya Labs and Testing Czars, a mobile application provider.
HDFC PE unit commits $90m to Bangalore IT park
The overseas private equity unit of Housing Development Finance Corp. (HDFC) has agreed to invest $90 million in a 200-acre information technology park being planned near Bangalore airport.
Blackstone claims capacity to invest up to $800m a year in India
The Blackstone Group has the capacity and ability to deploy $500-800 million ever year in India if the macroeconomic environment and other factors stay favorable, according to Akhil Gupta, who oversees the firm’s India operations.
Temasek, General Atlantic execs depart to launch independent fund
Head of Temasek India Manish Kejriwal and General Atlantic Managing Director Sunish Sharma have reportedly resigned their positions to spin off their own independent fund.
Tano reaches $97m second close on India fund
Tano Capital has reached a $97 million second close on its latest India-focused vehicle, Tano India Private Equity Fund II, which has a final target of $150 million. The fund will look for growth capital investments in sectors such as infrastructure,...
Matrix invests in Indian mobile app developer U2opia
Matrix Partners India has invested an undisclosed sum in handset application developer U2opia Mobile, marking the company's first round of institutional funding.
PAG raises $900m for Asia special situations fund
PAG has raised $900 million for an Asia-focused distressed asset fund. It follows a wider trend of private equity assuming the special situations role traditionally occupied by hedge funds and debt- or equity-linked capital for companies in need of funding.
Indian NBFC Indostar gets funding from CDIB Capital
Hong Kong-headquartered CDIB Capital has closed an undisclosed investment in India-focused non-banking finance company (NBFC) Indostar Capital Finance in a bid to capitalize on the country’s growing credit market.