South Asia
Ashish Dhawan to retire from private equity
Leading Indian general partner Ashish Dhawan will leave ChrysCapital - the private equity firm he founded - to pursue work surrounding social issues in India. In a statement to press, ChrysCapital has announced an 18 month management transition into a...
VIDEO: The World Bank's Ulrich Bartsch
Examining the short- and long-term prospects of Asia Pacific’s economy, Senior Economist Macro at the World Bank’s India Office Ulrich Bartsch tells AVCJ TV that markets’ future health will largely be determined by their young labor force, which...
Warburg Pincus exits Indian jeweler at a loss
Warburg Pincus has sold its 28.12% stake in Vaibbav Gems for INR18.million ($4.1 million) through an open market transaction, the US-based private equity firm confirmed, in an exit that comes at a significant loss to Warburg Pincus’ initial investment.
NSR Chairman Rajat Gupta charged with insider trading
Chairman and Co-Founder of New Silk Route (NSR) Rajat Gupta is being investigated for insider trading by the Securities and Exchange Commission, alleging that he passed classified information, garnered through holding executive positions as Goldman Sachs...
NSR, IL&FS telco tower operators to merge
Private equity firm New Silk Route’s (NSR) investee Ascend Telecom Infrastructure will merge its telecommunications tower business with India Telecom Infra Ltd. (ITIL), which is 50%-owned by industry peer IL&FS.
Driving Asia’s growth
With analysts, economists and private equity fund managers touting the opportunities for investment to capitalize on growth throughout the region, AVCJ takes a look at the macro-economic factors that are contributing to Asia’s development and expansion.
Everstone set to close $550m fund
Indian PE firm Everstone Capital Partners is set to close its second fund at its planned $550 million corpus despite an influx of investor interest that has led to the vehicle’s oversubscription, an investor close to the vehicle confirmed to AVCJ.
Cocoberry gets $20m from CX Parners
CX Partners has reportedly invested $20 million in Cocoberry Retail Ltd., a subsidiary of local food business operator Horizon RHI Group – capital slated to promote Cocoberry’s aggressive expansion plan.
Dunkin' Donuts brings its coffee into India
Private equity-backed Dunkin' Donuts – the self-proclaimed “favorite every day, all-day stop for coffee and baked goods” in the US – is to expand into India via a franchise partnership with food chain operator Jubilant Foodworks.
Goldman Sachs realigns regional PE operations
Goldman Sachs is set to reorganize its regional private equity business, combining three now-separate geographies into a single division, a Goldman Sachs spokesman confirmed to AVCJ. The unit will be led by Partner Ankur Sahu and MD Andrew Wolff.
Sumir Chadha talks about new venture, Westbridge
After five years with Sequoia Capital, Sumir Chadha and longtime partners K.P. Balaraj, S.K. Jain and Sandeep Singhal are leaving the Indian operations of the Silicon Valley firm. The group will take their original name Westbridge, which they founded...
Kaizen a rising star in Indian PE
One year after AVCJ predicted that education-opportunities group Kaizen Management Advisors “seems poised to lead investment in this sector in India,” the firm has made strides to keep its title, enlisting the likes of India’s Housing Development...
HDFC takes stake, LP role in Kaizen
India’s Housing Development Finance Corp. (HDFC) has acquired a minority stake in education-opportunities group Kaizen Management Advisors Ltd., pledging an undisclosed amount of capital as an LP into Kaizen Private Equity’s new vehicle.
Mizuho to invest in Tata fund
Japanese banking giant Mizuho Financial Group is reportedly set to inject capital into a fund managed by India’s Tata Group, Reuters reported, citing sources close to the deal.
SEBI delays Milestone Capital’s listing - reports
Milestone Capital Advisors' intended IPO has reportedly been delayed for eight months following the Securities and Exchange Board of India's (Sebi) ruling that the move may be too risky to smaller investors, India’s LiveMint reported.
India focused Edelweiss Special Opportunities Fund closed at $230 million
Edelweiss Alternate Asset Advisors, the alternative asset arm of Edelweiss Capital in Switzerland, has closed the $230 million Edelweiss Special Opportunities Fund, according to local media reports. The fund will focus solely on India.
Macquarie SBI nears Indian port investment - reports
Macquarie SBI Infrastructure Management is considering an INR1,000 ($220 million) investment into an unnamed Indian port manager, the Business Standard reported, which may be completed in the upcoming months from the group's nearly $1.5 billion Macquarie-SBI...
Actis on exit trail in India
UK government-backed Actis has begun the divestment process for several of its Indian investees as part of its efforts to close its second, $325 million market-focused fund, LiveMint reported.
Sri Lanka imposes year-long share-holding period
Sri Lankan authorities have mandated that private equity firms adhere to a year-long binding period that prevents them from selling shares of companies recently listed on the Colombo Stock Exchange.
Guggenheim, Indian Infrastructure trade stakes
US-based Guggenheim Partners has reportedly taken a 46% stake in infra asset manager Infrastructure India in a deal completed through the exchange of stakes in each other’s portfolio companies.
Leaving the mother ship: Asian professionals on their own
What a difference a year makes.
Sequoia departures put question mark over fund’s future
Four of Sequoia Capital India’s founding partners have resigned from the VC firm to set up a new fund, which will focus on domestic PIPE transactions.
India Equity Partners to take over Innovative Foods
India Equity Partners is reportedly set to take a majority stake in Innovative Foods, a processed foods firm currently owned by Tata Group, for INR75 crore ($16.5 million).
Enam India Infrastructure fund approved for FDI
Enam India Infrastructure Fund, a Mauritius-registered fund, has reportedly received approval to take foreign direct investment of 3,450 crore ($755 million) from The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh,...