South Asia
IL&FS India Realty Fund II to invest Aria Hotels
IL&FS Investment Managers' $895 million IL&FS India Realty Fund II will invest INR80 crore ($17.2 million) for an undisclosed stake in Aria Hotels and Consultancy Services (Aria Hotels), a subsidiary of the Asian Hotels group, which owns the 400-room...
Starwood regains Rajagopal for India as Rao leaves
Starwood Capital Group, the real estate-focused private equity firm led by Barry Sternlicht, founder of Starwood Hotels and Resorts, has announced the re-engagement of Sundaram V. Rajagopal, a former VP with the firm, as MD for India and Southeast Asia.
IFC, FE Clean invest Bhilwara Energy
The International Finance Corporation (IFC) and Indian private equity firm FE Clean Energy have jointly invested $50 million 50:50 into Noida-headquartered Bhilwara Energy Ltd., a hydroelectric power and manufacturing group, for a 10.8% stake.
IDFC collects from Khazanah, Actis
Indian infrastructure finance leader Infrastructure Development Finance Co. (IDFC) is to raise INR840 crore ($179 million) through an institutional placement of convertible preference shares to current investor Malaysian SWF Khazanah Nasional and UK private...
Milestone Religare on track for $200 million raise
Milestone Religare Investment Advisors, the private equity JV between local fund house Milestone Capital and financial services group Religare Enterprises, is on track to launch its $200 million India Build-Out Fund II, with discussions already commenced...
Former CVCI MD Srinivasan seeks $400 million for India fund
Former MD of Citigroup Venture Capital International’s (CVCI) India operations, PR Srinivasan – who departed the company earlier this year - is set to raise between $350 million and $400 million for a domestic market-focused fund.
Nimbus revives IPO exit plan
3i Group and Oman International Fund investee Nimbus Communications, an Indian broadcaster which operates the Neo Sports and Neo Cricket channels, has revived an IPO plan originally mooted in 2008, and may seek to raise up to INR750 crore ($160 million).
Nexus invests $1.5 million into India's MagicRooms
Nexus Venture Partners has invested INR7 crore ($1.5 million) in Indian hotel room distribution database MagicRooms Solutions.
Istithmar exits SpiceJet for $25.3 million
Dubai-headquartered investment firm Istithmar has made its expected exit from Indian budget carrier SpiceJet, obtaining $25.3 million from a number of institutional investors for its 6.9% stake in the business.
3i continues buyout wind-down in India
In light of 3i Group’s decision to pare down its buyout arm in Asia – folding its Singapore-led buyout team into its regional growth capital platform and transferring responsibility for Asian buyouts to its global buyout team – 3i India is merging...
DE Shaw looks at Ambani JV
Private equity and hedge fund group DE Shaw is on the point of forming an equal JV with billionaire Indian business leader Mukesh Ambani, according to Indian reports.
Blackstone completes Monnet deal
The Blackstone Group has executed its plans, first publicized in March this year, to invest around $60 million for 12.5% of Monnet Power Co. Ltd., an Indian independent power producer currently developing at 1050MW coal-fired power plant in Orissa state.
Sequoia Capital invests in education-management firm in India
Sequoia Capital India, in tandem with Song Investment Advisors, has injected $15 million into Hyderabad-based K-12 Techno Services Pvt Ltd, an education-management firm owned by Gowtham Educational Institutions, one of the largest private educational...
Olympus Capital commits $300 million to Tata Power
Olympus Capital Holdings Asia is to buy stakes in Tata Power’s coal special purpose vehicles (SPVs) Bhira Investment Ltd. and Bhivpuri Investment Ltd. for $300 million – capital that will be allocated to fund the Indian power producer’s future acquisitions...
ChrysCapital fully divests from Hathway Cable
ChrysCapital has fully exited investee Hathway Cable and Datacom Ltd., selling its remaining 6.36% stake in the cable TV service provider following its partial exit earlier this year at the time of Hathway’s IPO.
Tishman Speyer eyes Indian IT park
Tishman Speyer, the global real estate investment firm, is reportedly in discussions to acquire the soon-to-be-completed IT Park in Gurgaon owned by BPTP Ltd, a New Delhi-based real estate developer, in a deal estimated at around INR400 crore ($857.4...
Yatra Capital sees Indian opportunities
Yatra Capital, the Euronext-listed company focused on real estate investments in India, plans to invest up to INR115 crore ($24.4 million) through two realty deals in 2010, Christopher Wright, chairman and co-founder at Yatra Capital, said publicly.
Eredene invests India's Ennore Port terminal
London AIM-listed Eredene Capital, an India-focused real estate and infrastructure investment firm, has led a consortium to win the rights to build and operate the Ennore Port container terminal project in Tamil Nadu, along with Spanish and Indian industry...
Ex-Unilever Banga joins CDR for operations
Manvinder (Vindi) Singh Banga, formerly Chairman and MD of Unilever in India and later Singapore-based President of its Foods, Home and Personal Care division, is set to join the London office of global buyout major Clayton, Dubilier & Rice (CDR), as...
Reliance/GTL deal may involve Saudi Telecom, ADIA, PE players
The $11 billion merger of Reliance Infratel, the cellular transmission tower arm of India's Reliance Anil Dhirubhai Ambani Group, into Indian independent telecoms player GTL Infrastructure may include investment by Saudi Telecom Co., the Abu Dhabi Investment...
ICICI may exit I-Ven Pharma to Dr. Reddy's Labs
ICICI Venture is reportedly considering selling its 100% stake in I-Ven Pharma Capital Ltd. to its partner Dr. Reddy's Labs (DRL), which would be the latest in a string of exits by the Indian private equity firm.
Avigo closes third fund at $240 million
Delhi-based Avigo Capital Partners has closed its Avigo SME Fund III at $240 million, to be committed to investments into mid-market firms, according to reports.
SAIF increases stake in One97
SAIF Partners has taken an additional 10% stake in Indian mobile-services firm One97 Communications ahead of its IPO, bringing its full investment in the company to around $20 million for a 41% stake, according to reports.
Baring India close to Oriental Tollways deal
Baring Private Equity Partners India is preparing to invest some INR370 crore ($80 million) in Oriental Tollways, part of the 30-year-old Oriental Structural Engineers Group, to help fund the target's road projects.