Page 3 - Private Equity Firms

Blackstone reports 1% rise in 1st-quarter earnings on growth in fee income

Blackstone raised $34 billion of new capital, while unspent capital reached $191.2 billion. It declared a quarterly dividend of 83 cents per share

Pvt equity investment in realty dips 16% in FY23-24 to $3.67 bn: Anarock

Private equity funding in the real estate sector fell 16 per cent last fiscal to USD 3.67 billion on lower interest from foreign investors, according to Anarock. In its report, Capital FLUX, real estate consultant Anarock pointed out that the private equity (PE) deals in Indian real estate have declined to USD 3,674 million in 2023-24 from USD 4,358 million in the previous year. The PE inflow in real estate stood at USD 5,138 million in 2019-20, USD 6,377 million in 2020-21, USD 4,236 million in 2021-22 financial year. "The decline in PE investments in Indian real estate has been due to lower activity by foreign investors, due to global macro-economic factors and geopolitical instability," said Shobhit Agarwal, MD & CEO of Anarock Capital. The share of foreign capital in total investments declined to 65 per cent in FY24, against 76 per cent in the previous year. As per the report, PE investments by domestic investors have increased to 29 per cent of the total capital inflows into

Private equity firm Bain Capital to sell remaining Axis Bank holding

The price range for the share sale has been set at Rs 1,071 - Rs 1,076 per share, a discount of up to 0.47 per cent to Axis Bank's last close of Rs 1,076 per share

PE fund Lighthouse invests Rs 229 cr in Safari for undisclosed stake

Private equity fund Lighthouse on Monday said it has invested Rs 229 crore in luggage brand Safari for an undisclosed stake. The investment by the mid-market consumer and healthcare-focused platform is the second bet taken by its newest fund, Lighthouse India Fund IV AIF, as per an official statement. It was not immediately clear how the company intended to deploy the newly raised funds. Lighthouse's co-founder and partner Sachin Bhartiya said the Private Equity (PE) fund sees structural tailwinds to the travel sector, and added that the Indian luggage market has been a beneficiary of increasing leisure travel and wedding spends. "Safari is uniquely positioned to capture this opportunity with the confluence of expanding discretionary spends and changing consumer behaviour in favour of branded luggage with aspirational appeal," he said. Safari's chairman and managing director Sudhir Jatia said the luggage market still remains "highly unorganised" and his company aims to penetrate .

ChrysCapital Management to raise $300 million to retain NSE stake

ChrysCapital bought a 5 per cent stake in NSE, one of the largest stock exchanges in the world, in 2016. The firm wants to keep its investment until the bourse goes public

Voting advisory firm opposes Aster DM Healthcare's sale of Gulf business

IiAS raises concern over lack of clarity on the utilisation of sale proceeds of unit that contributes 75% of revenue

Startups hope for strong growth in 2024 after unicorns, funds fall in 2023

Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around USD 8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent. Indian startups are estimated to have laid off over 15,000 employees in 2023. Startups with sustainable business models as well as the well-capitalised ones are expected to weather the current turmoil. And the horizon in 2024 is expected to be "exciting" as well as "challenging". Venture capital firm Lightspeed, which has invested in firms like BYJU'S, Magicpin and OYO, said a high cycle or a low cycle of two years does not really impact the ..

Inflows from PE, VC funds to domestic companies plunge to $27.9 bn in 2023

Investments from private equity and venture capital funds into domestic companies declined about 40 per cent to USD 27.9 billion so far this year, while the outflow increased marginally to USD 19.34 billion year-on-year. According to the numbers collated by Venture Intelligence that tracks private capital and debt flows, and industry body IVCA, investments by private equity and venture capital funds as of December 20, 2023, fell to a low of USD 27.9 billion across 697 transactions, as against USD 47.62 billion inflows in 2022 across 1,364 deals. The year also saw more money being pulled out from the country by private equity players with overall exits touching USD 19.34 billion from 248 companies as against 233 exists worth USD 18.45 billion in 2022, according to the data. Industry watchers, however, said green shoots of more funding is very much visible in the coming year. The funding slowdown this year is a temporary adjustment, and as we move forward, we expect renewed and robus

PE/VC investments dip to 43-month low of $1.6bn in November: Report

Investments by private equity and venture capital funds plummeted to a 43-month low of USD 1.6 billion in November, a report said on Tuesday. The investments were 69 per cent lower than the year-ago period and 60 per cent less than October, the report by industry's lobby grouping Indian Venture and Alternate Capital Association (IVCA) and the consultancy firm EY said. By volume terms, there were 58 deals in November 2023 as against 106 in the year-ago period and 73 in October 2023, the report said. Based on the available data, the consultancy firm's partner Vivek Soni said he anticipates PE/VC investments for 2023 to come at 10-12 per cent below the USD 56 billion in 2022. "This fall has been primarily fuelled by a sharp contraction in startup investments and a drop in number of large deals on account of the widening bid ask spread between investor valuations and seller expectations," he added. In November, there were six large deals of value greater than USD 100 million, aggregat

Dry powder decoded: What it means to investors and the financial ecosystem

Dry powder refers to the cash reserves maintained by corporations, private equity funds, and individual investors for strategic investments or during an economic downturn

Private equity firm Bain Capital sells Rs 3,737 cr stake in Axis Bank

More than 50 entities, largely comprising foreign funds, were among the buyers, including Societe Generale, Morgan Stanley, Goldman Sachs and UBS

Global PE firms cashout by offloading stakes in Indian cos amid market boom

Industry players say smooth PE exits seen this year is a strong endorsement of the liquidity and depth of India's $4 trillion equity markets

Adani, Wilmar may sell part of their stake in AWL to private equity firms

AWL stake sale to be one of the largest in recent times

Private equity company True North enters the private credit segment

True North's 'Performing Credit Regular Income Fund' bridges the supply-demand gaps with custom solutions for middle-market companies

Private equity, venture capital investments dropped to $3.4 bn in October

Investments by Private Equity and Venture Capital (PE/VC)funds have declined to USD 3.4 billion for October, a report said on Tuesday. By value, the bets were 3 per cent lower than USD 3.5 billion in the year-ago period, and 19 per cent lower than USD 4.2 billion in September, the report by industry lobby grouping IVCA and EY, a consultancy, said. The number of deals or volumes was also lower at 70 transactions in October as against 80 in the year-ago period and 83 in a month earlier, the report said. "Although the Indian consumption story continues to remain strong, the increase in uncertainty on account of global factors and impending state and central elections in India seem to be slowing down progress in deal pipeline activity," the consultancy firm's partner Vivek Soni said. Stating that he has a "cautiously optimistic" outlook, Soni said PE/VC investments are still lacking momentum, especially in the startup space. October witnessed nine large deals totalling USD 2.4 billion

Investment bankers see highest fee income at $968 million in Jan-Sept

Investment bankers laughed their way to the bank with 41 per cent on-year more fee income at USD 967.5 million during the first nine months of 2023, despite a massive fall in deals, according to an industry analysis. This is the highest fee collection by deal makers since records began in 2000. According to Refinitiv, which is an LSEG (London Stock Exchange Group) business , completed M&A advisory fee jumped 34 per cent year-on-year during January-September 2023 and totalled USD 362 million, while ECM (equity capital market) underwriting fees rose by a steeper 38 per cent to reach USD 194.3 million. Debt capital market (DCM) underwriting fees totalled USD 181.7 million, a 41 per cent increase from a year ago, while syndicated lending fees grew 56 per cent to USD 229.5 million in the first nine months of 2023, Lucille Jones, an analyst at LSEG said, adding the total fee income for the sector during the period jumped 41 per cent to USD 967.5 million. Wall Street major Citi's ...

MO Alternates, Temasek, Paragon to invest Rs 800 crore in Niva Bupa

Health insurer Niva Bupa on Thursday said a clutch of private equity funds have committed to invest Rs 800 crore in the company. India Business Excellence Fund IV (MO Alternate Investment Advisors), Temasek and Paragon Partners Growth Fund II will be investing the money for a minority stake in the company, as per an official statement. The announcement comes within a fortnight of homegrown private equity major True North announcing a 20 per cent stake sale in the company to Bupa for Rs 2,700 crore, making the UK-headquartered company a majority owner in the company. "This latest injection of capital will play a pivotal role in propelling the company towards its long-term ambitions and strategic objectives," True North's partner Divya Sehgal said. True North had earlier said that future growth options for the company, in which it continues to hold a minority stake, could also include the public listing. The company's chief executive and managing director Krishnan Ramachandran said

Aster DM Healthcare's India unit draws suitors valuing business at $1.5 bn

Aster shares have soared about 40% this year, valuing the Mumbai-listed company at about $1.9 billion

KKR sells industrial properties across United States worth over $560 mn

Since the pandemic sparked a shift away from traditional brick-and-mortar stores and towards online shopping, retailers continue to have a high demand for industrial buildings like warehouses

True North sells 20% stake in Niva Bupa to Bupa for Rs 2,700 crore

UK-based Bupa, an international healthcare company, was a founding shareholder when the business was first established in India in 2008