PE firm Multiples closes its Fund IV, subscriptions worth $640 mn received

Private equity firm Multiples Alternate Asset Management (Multiples), on Wednesday, announced the close of its Fund IV with a subscription of over $640 million, further consolidating its position as a leader in the PE market.

Sudhir Variyar, managing director (MD) and deputy chief executive officer of Multiples Alternate Asset Management, said, "This fundraise is yet another important milestone in the growth and evolution of Multiples as an institution providing wings to the dreams and aspirations of entrepreneurs. We are excited about the India opportunity and the tremendous entrepreneurial energy that's propelling the country forward. We acknowledge the trust and confidence placed in us by our investors and look forward to continuing to create value and deliver consistent cash on cash returns."

Multiples Fund IV brings together leading global institutional investors like CPPIB and IFC, local institutions like SBI and private insurance companies, and leading domestic family offices.

Over the last decade, Multiples has built specialisation in three main strategies identifying largely tech-led big shifts and investing in them at their inflexion point, catalysing transformative growth and investing in platforms for multi-decadal growth potential.

"This approach has enabled it to deliver exceptional performance across industries and timeframes," the company said.