South Asia
Actis considers Sterling exit
Actis, a London-headquartered emerging markets investor, is set to exit its 80% stake in Gujarat-based Sterling Add-Life Medical Institute, the Business Standard reported, citing sources close to the deal.
Warburg Pincus to sell Max Healthcare stake to Max India
Max India, an insurer and hospital operator, plans to buy a 16.37% stake in its subsidiary Max Healthcare from Warburg Pincus, Economic Times reported.
KITVEN invests in Indian mapping services provider
Bangalore-based Vidteq India has raised funding from Karnataka Information Technology Venture Capital Fund (KITVEN) for undisclosed amount.
Goldman Sachs takes minority stake in Max India
Goldman Sachs’s private equity unit will acquire a 9.4% stake in Max India, an insurer and hospital operator, for $115 million, according to reports.
IL&FS targets $300m for fourth India fund
IL&FS Investment Managers, the private equity arm of Infrastructure Leasing & Financial Services, has set a target of $300 million for its Tara India Fund IV. The fund will target growth capital investments primarily in the manufacturing, retail and logistics...
Milestone Religare appoints new managing partners
Srinivas Baratam and Anant Kulkarni have been appointed joint managing partners at Milestone Religare Investment Advisors.
Ashmore poised to buy stake in Pakistani fertilizer firm
Private equity firm Ashmore has been granted 90 day extension by the Securities and Exchange Commission of Pakistan to purchase 80% stake in Agritech, formally known as Pak American Fertilizer.
CDC to target Asia, Africa investments exclusively
CDC, a development finance institution that makes private equity investments in emerging markets on the behalf of the UK government, will focus exclusively on South Asia and sub-Saharan Africa, following a year-long review of its activities. These areas...
PE rides M&A wave in Indian security
Blackstone has been emerged as potential acquirer of Securitrans India, the cash management arm of security services provider APS group. According to local reports, a deal worth around INR150 crore ($33.6 million) has been put together for the Delhi-based...
Carlyle invests in emerging markets hedge fund manager
The Carlyle Group will buy a 55% stake in Emerging Sovereign Group (ESG), a US-based hedge fund manager that focuses on emerging markets, including China, India, South Korea and Southeast Asia.
US PE firm invests in Hyderabad real estate project
US private equity firm Monsoon Capital has paid nearly $16 million for a 50% stake in a five-star hotel and residential complex in Hyderabad’s IT district, Business Standard reported.
Indian affordable healthcare group secures $10m in venture funding
Singapore’s Aquarius India Fund and Seedfund have participated in a $10 million third round of funding for Vaatsalya Healthcare, which operates in semi-urban and rural India, Economic Times reported. Bangalore-based Vaatsalya will use the capital to...
Apax to bid for Indian transaction processing firm – report
Apax Partners is considering the purchase of a majority stake in Computer Age Management Services (CAMS), India’s leading mutual fund registry and transaction processing firm, the Times of India reported, citing people familiar with the situation.
IFC invests $4m in Sapphire Industrial Infrustructure
The International Finance Corporation (IFC), the investment arm of the World Bank, has injected $4 million in India’s Sapphire Industrial Infrastructures, a tin film solar plant operator.
Blackstone closes in on Securitrans India
Blackstone is close to acquiring Securitrans India, the cash management arm of security services provider APS group, for around INR150 crore ($33.6 million), the Economic Times reported, citing a person with direct knowledge of the deal. The private equity...
TPG buys stake in Indian ATM services provider
TPG will pay around INR150 crore ($33.6 million) for a 20% stake in AGS Transact Technologies, which provides ATM services to banks. Ravi Goyal, managing director of AGS, confirmed that the US private equity firm has purchased a “substantial stake,”...
Samena Capital launches $700m special situations fund
Samena Capital has launched its second special situations fund with a target of $700 million. The company – whose name derives from the regions in which it invests: subcontinent, Asia, Middle East and North Africa – has already received commitments...
TPG pays $100m for 15% stake in Shriram Properties
TPG has bought a 15% holding in Shriram Properties, the real estate arm of Indian financial services player Shirarm Group, for INR450 crore ($100 million).
PE sees exit multiples in India
India's private equity industry entered 2011 with high hopes that this would be a breakthrough year for exits and returns. Following a rash of sales over the past few months – culminating in Blackstone’s $630 million stake sale in Intelenet Global...
KKR in talks to raise stake in Indian power company
KKR is to purchase an 11% stake in Avantha Power & Infrastructure for $75 million, taking its total holding in the Indian company to just over 20%. A senior official with the company told the Economic Times that the two parties were in advanced discussions...
New reliance fund to seek overseas LPs
Reliance Equity Advisors (India) is looking to start a $250-$300 million fund by the end of the year, relying on overseas investors for capital, the Wall Street Journal reports.
Relauched WestBridge raises $200m - report
Three months after Sequoia Capital India’s founding partners departed to relaunch WestBridge Capital Partners, their new fund has reportedly raised approximately $200 million for domestic investments, en route to a $500 million target.
PE funds eye Jyothy stake sale
Mumbai-based consumer goods firm Jyothy Laboratories is reportedly looking to sells a minority stake in itself in an effort raise up to $200 million, and has approached private equity funds including Actis, Apax Partners, Carlyle and TPG about the deal.
Rabobank makes Indian PE investment
The India Agri-Business Fund (IABF), a private equity vehicle owned by Rabobank, has agreed to invest INR101.75 crore ($22.6 million) in National Collateral Management Services (NCMSL), alongside the International Finance Corporation (IFC) and four existing...