Page 4 - Private Equity Firms

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

Vedanta Resources in talks with PE funds for $1 billion debt repayment

The mining conglomerate is simultaneously in discussions with bondholders to modify repayment timelines on a portion of the $3.2 billion bonds

Morgan Stanley sued for $750 million by private equity firms claiming fraud

Morgan Stanley said in a statement, "The Firm does not believe the claims have merit and will defend itself vigorously."

Private equity-backed mergers and acquisitions fall to 31-month low

Value of such transactions has also been coming down over time

Cipla founding family's stake sale in jeopardy over $13 bn valuation target

Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward

M&As likely to witness a strong comeback as PEs bet more cash in India

PE investors and promoter sales have largely dominated the equity sell-down activity over the last two years

PE inflow in real estate up 51% to Rs 24,680 cr: Cushman & Wakefield

Private equity investment in real estate rose 51 per cent year-on-year to Rs 24,680 crore in the first six months of this year, Cushman & Wakefield said on Monday. The private equity (PE) investment during April-June stood at Rs 15,850 crore (USD 1.92 billion), which was 63 per cent higher than the previous quarter and 60 per cent higher than the same period last year. "H1-2023 (January-June) witnessed a cumulative inflow of close to Rs 24,680 crore (USD 2.99 billion) which is 51 per cent higher than H1-22, mainly driven by investment in the office segment and also increased investments in alternate segments like logistics & industrial and data centres," real estate consultant Cushman & Wakefield said in a statement. Equity investment constituted for 87 per cent of the total inflows. Somy Thomas, Managing Director, Valuations and Co Head, Capital Markets at Cushman & Wakefield, said, "Indian office markets are one of the most resilient investment classes in the real ...

ChrysCap joins Nirma, Sekhmet in race to snap up Glenmark Life Sciences

Nirma, Sekhmet Pharma also make binding bids

Blackstone on brink of $1 trn milestone in first for private equity

Private equity firms have risen to power major tracts of the US economy

Private equity dealings at listed firms to face shareholders' test

Privileges such as board nominations, veto over share issuances will require to be approved via special resolutions; Could impact fresh investments

FIS to sell stake in merchant business to GTCR for $18.5 billion

The transaction would effectively undo FIS' $43 billion acquisition of Worldpay in 2019, after the unit lost market share to traditional competitors and new financial technology startups

Unicorn list declines in 2023, indicates slowdown in funding: Hurun report

New additions in the coveted unicorn list declined sharply in 2023, indicating a slowdown in the Indian startup ecosystem, a report said on Tuesday. India added only three unicorns startups having a valuation of over USD 1 billion in 2023 against 24 in the year-ago period, as per the ASK Private Wealth Hurun Indian Future Unicorn Index 2023. The slowdown in unicorn additions is indicative of a "slowdown in India's startup ecosystem", the report -- which comes amid a slowdown in investor interest in what is being termed as "funding winter" -- said. The overall number of unicorns also declined to 83 from 84 in the year-ago period. ASK Private Wealth's chief executive and managing director Rajesh Saluja said unsustainable business models adopted by startups have led to a dip in valuations but stressed that funding to the right companies continues. Hurun India's chief researcher Anas Rahman Junaid, however, said that the Indian startup story has high potential and he sees the overall

PE firm Carlyle offloads its entire stake in Delhivery for Rs 709 cr

US-based private equity firm Carlyle on Thursday offloaded its entire 2.53 per cent stake in supply chain company Delhivery for Rs 709 crore through open market transactions. BNP Paribas Arbitrage, Norges Bank, Societe Generale, Saudi Central Bank, Washington State Investment Board, Lockheed Martin Corporation Master Retirement Trust, Morgan Stanley Mauritius Company, Goldman Sachs (Singapore) Pte, Tokio Marine Life Insurance Singapore and AIA Singapore, among others, were the buyers of shares. Carlyle through its special-purpose vehicle CA Swift Investments sold the shares of Delhivery in 11 tranches. CA Swift Investments offloaded a total of 1,84,04,607 shares, amounting to 2.53 per cent stake in Delhivery, as per the block deal data available with the BSE. The shares were sold at an average price of Rs 385.5 apiece, taking the transaction value to Rs 709.50 crore. The US-based investment firm was holding a 2.53 per cent stake in the supply chain company, shareholding data for t

Toshiba Corp accepts $15 bn buyout offer from Japanese consortium

The Tokyo-based company's board approved on Thursday a bid of about 2 trillion yen ($15.3 billion) from a group led by domestic private equity firm Japan Industrial Partners Inc.

Silicon Valley Bank loans could be letdown for private equity giants

The FDIC has a broad mandate to try to sell Silicon Valley Bank and Signature Bank assets at the best possible price to aid recoveries, whether that's as a whole or in pieces

India's private equity investment declines by 23.4% in 2022, says S&P

(Reuters) - Private equity (PE) investments in India dropped 23.4% in 2022 from a year earlier, a report from S&P Global Market Intelligence showed on Tuesday.