South Asia
Olympus, India Value Fund back DM Healthcare
Olympus Capital Holdings is considering purchasing a minority stake in Indian hospital owner DM Healthcare for INR600 billion ($125 million).
Indian drug maker Vivimed gets $25.8m from private equity
NYLIM Jacob Ballas India Fund and Kitara Capital have committed INR1.27 billion ($25.8 million) to Indian pharmaceutical firm Vivimed Labs.
Telecom firms struggle to offload towers
India’s cellular towers are crucial in supporting its burgeoning mobile market, but when it comes to selling these assets, operators find that less may be more
Goldman Sachs invests $202m in India's ReNew Wind Power
Goldman Sachs’ private equity arm has committed INR10 billion ($202 million) for a majority stake in Indian start-up ReNew Wind Power, marking one of the largest investments into the country’s clean energy sector.
Accel cancels plans for $400m India fund - report
Silicon Valley-based VC firm Accel Partners will not raise a $400 million India-focused fund as previously planned, The Times of India reported, citing unstable market conditions and increased competition as reasons for the decision.
Mayfield appoints venture advisors in India
Tech-focused Mayfield Fund has bolstered its investment team with the appointment of two venture advisors, including Sunil Singh, who will be based in India.
Advent International closes in on BT’s Tech Mahindra stake
Advent International is intensifying negotiations with BT over the UK telecom group’s stake in Tech Mahindra. BT held a 23.37% interest in the Indian IT company as of June 30 and has been looking at exit options. Based on current market prices, the...
Blackstone jettisons India asset management interests
Blackstone Group is exiting India Fund Inc., its largest India-focused closed-end mutual fund scheme, to Aberdeen Asset Management Asia.
Former ChrysCapital MD seeks $350m for new fund
Former managing director of ChrysCapital Brahmal Vasudevan is targeting $350 million for a spin out fund focusing on emerging markets in India and Southeast Asia.
IFC eyes investment in Indian SME-focused fund
IFC is set to commit $15 million to Forum Synergies (India) PE Fund Managers’ new vehicle, India Knowledge-Manufacturing Fund I, which has targeted a $150 million raise.
Fortis ends bid for Turkish hospital owner Acibadem
Indian hospital operator Fortis Healthcare International has reportedly ended negotiations to purchase Acibadem, a Turkish hospital 92%-owned by Almond Holding AS. Almond is a joint venture between Abraaj Capital and Turkey’s Aydinlar family.
IL&FS exits auto services JV to Orix Corp
Infrastructure Leasing and Financial Services (IL&FS) has exited its 50% stake in Orix Auto Infrastructure Services to Japanese conglomerate Orix Corporation, its partner in the joint venture, DealCurry reported.
Franklin Templeton commits $9m to Indian pharma firm
Franklin Templeton Private Equity Strategy (FTPES) has invested INR450 million ($9.2 million) in Symbiotec Pharmalab, a company that produces active pharmaceutical ingredients. Details of the transaction were not disclosed.
Maarten Ruijs: An enduring interest in Asia
Maarten Ruijs, managing partner & chief investment officer of CVC Asia Pacific, reflects on coping with the global economic downturn and explains why he’s in Asian private equity for the long haul
InMobi tools up for Google, Apple battle
Mobile advertising network InMobi seeks to position itself as an alternative to Google and Apple. Now the company has capital to reinforce its claim.
India’s alternative lenders
Non-banking finance companies are becoming increasingly significant in India’s financial sector. Foreign private equity firms are keen to get involved, but how does this fit into their wider strategies?
TPG, Farallon linked to GTL Infrastructure acquisition
TPG Capital and Farallon Capital are among the private equity investors interested in telecom tower business GTL Infrastructure. Sources told The Economic Times that a PE-led consortium of telecom player is the most likely buyer of the company, which...
Blackstone, Carlyle interested in Reliance Infratel - report
Blackstone Group and The Carlyle Group have jointly expressed interest in bidding for up to 95% of Reliance Communications’ cellular tower business Reliance Infratel, The Times of India reported. It comes one month after the buyout firms were first...
Axis divests stake in Vishwa Infrastructures to Olympus Capital
Axis Infrastructure Fund I has exited an undisclosed “significant minority stake” in Hyderabad-based Vishwa Infrastructures and Services to Olympus Capital Holdings Asia for more than INR2 billion ($42 million).
GVK seeks PE investors in Australia coal assets
GVK is in talks with several global financial institutions, including private equity firms, with a view to selling minority stakes in Australian mining assets it recently acquired from Hancock for $1.3 billion. The Indian infrastructure group needs to...
CII calls for alterations to SEBI's proposed PE regulations
Private equity funds should be allowed to invest up to 33.33% of their corpus in equity and debt instruments of listed companies, the Confederation of Indian Industry (CII) has said. The group thinks this condition provides necessary flexibility to private...
IL&FS looks to raise $900m across three funds
IL&FS Investment Managers (IIML) is looking to raise up to $900 million across three funds, but the fundraising process is expected to take longer than usual as a result of tighter risk assessment among investors globally.
Mumbai metals trader seeks PE investment
Ushdev International, a Mumbai-based metals trader and wind farm operator, is seeking to raise $20-40 million from private equity investors. Managing Director Prateek Gupta said the company is in talks with a couple of PE firms about the possibility of...
Indian pizza chain owner seeks PE funding
Bangalore-based United Restaurants, which owns the US Pizza chain, is looking to raise INR600 million ($12.6 million) from private equity funds to finance its expansion plans. It is the latest in a string of fast-food chain to enter the market for third-party...