Page 6 - Private Equity

Investor climate group eyes assets in private equity, sovereign debt

The Net-Zero Asset Owner Alliance members are being asked to include assets like private debt and equity in their emissions reductions strategy

Investors spoiled for choice with top ice cream makers on table for sale

The stakes are high for Unilever. Once a focal point of growth with labels such as Magnum and Cornetto, the Anglo-Dutch company's ice cream unit has underperformed for the past five quarters

Olympus Capital divests 9.8% stake in Aster DM Healthcare for Rs 1,978 cr

Private equity firm Olympus Capital Asia on Wednesday divested a 9.8 per cent stake in Aster DM Healthcare for Rs 1,978 crore through open market transactions. Olympus Capital Asia through its two affiliates -- Olympus Capital Asia Investments Ltd and Olympus ACF Pte -- offloaded the shares of Dubai-based Aster DM Healthcare on the bourse. According to the bulk deal data available with the BSE, more than 4.42 crore equity shares of Aster DM Healthcare were sold by Olympus Capital Asia Investments and 45.59 lakh shares by Olympus ACF Pte Ltd of the company. Around 4.88 crore shares sold represent a 9.8 per cent stake in Aster DM Healthcare. The shares were disposed of within the price range of Rs 405-406.72 apiece, taking the transaction value to Rs 1,978.35 crore. As of December 2023, Olympus Capital Asia Investments Ltd owned an 18.96 per cent stake in Aster DM Healthcare, shareholding data showed with the bourse. Meanwhile, Capital Group through its affiliate SmallCap World Fun

PE firm Olympus to sell 9.8% stake in India's Aster DM for up to $234.5 mn

Olympus Capital, which owns about 19% stake in the hospital chain, is planning the sale at 400-437.20 rupees per share

PE, VC investments fall to $2.2 billion in Feb as big-ticket deals dry up

Private equity and venture capital investments declined to USD 2.2 billion in February, 39 per cent down when compared with the year-ago period's USD 3.7 billion, a report said on Thursday. On a month-on-month basis PE, VC investments have witnessed a decline of 67 per cent. The number of deals were higher at 120 transactions in February, as compared to 86 deals in January and 57 in February 2023, the report by industry lobby group IVCA and consultancy firm EY said. "This is the second lowest monthly total for PE/VC investments since February 2021. We remain cautiously optimistic as the election super cycle unfolds in India and globally, with many large economies going to the polls in 2024," the consultancy firm's partner Vivek Soni said. In February, there were seven large deals of USD 100 million or above aggregating to USD 1 billion, which is 82 per cent lower than the USD 5.7 billion in January 2024 and 66 per cent lower than the USD 3 billion in the year-ago period, the report

Ananya Birla's Svatantra to get Rs 1,930 cr capital from Advent, Multiples

Private equity majors Advent International and Multiples on Monday committed to invest Rs 1,930 crore in Ananya Birla-promoted microlender Svatantra Microfin for an undisclosed stake. Birla, the daughter of billionaire Kumar Mangalam Birla, will continue to hold a "significant majority stake" in the microlender even after the infusion, a statement said, claiming this to be the largest investment in any microfinance institution. At present, Svatantra and its wholly-owned subsidiary Chaitanya have a team of 17,000 employees serving 42 lakh customers in over 20 states. The microfinance lender, which was founded in 2013, acquired Chaitanya India Fin Credit for Rs 1,479 crore in August last year. Advent's past investments include a bet on Aditya Birla Capital, the Kumar Mangalam Birla-led Aditya Birla Group's non-bank lending arm. In a statement, Ananya Birla termed the investment as a "momentous occasion" and added that it will propel it towards its goal of becoming the "most impactful

Indian market too big to ignore: Beauty and make-up brand Laura Mercier

The brand first entered the Indian market last year and started selling online through the beauty and personal care marketplace, Tira

PE firm KKR considers selling controlling stake in JB Pharma: Report

The US private equity firm is looking to hire financial advisers to help evaluate a sale of its 53.8% stake in the Mumbai-based company, the people said

PE/VC exits surge 36% to $24.8 bn in 2023 amid declining investments

The infrastructure sector emerged as the leader, attracting $11.6 billion in investments in 2023, while traditional favorites such as financial services and technology witnessed a decline

Logistics firm Shadowfax raises $100 million in TPG-led funding round

The company declined to disclose the valuation at which it raised the funds. It was last valued at $632 million, as of April 2022, per data from investment tracker Tracxn

Chipmaker Broadcom sells remote-access unit to PE firm KKR in $4 bn deal

The end-user computing (EUC) unit will become a standalone company and will continue to be run by its existing management team led by Shankar Iyer, KKR said in a statement on Monday

Roads and renewables: Global PE major KKR to raise infra bet in India

Major portion of $6.4 billion Asia-Pacific fund set to be routed to India

PE firm CVC Capital raises $6.8 bn, plans to invest in Indian companies

Private equity and investment advisory firm CVC Capital Partners on Wednesday said it has mopped up USD 6.8 billion (around Rs 56,366 crore). The Luxembourg-based company has over USD 1 billion investments in four domestic companies -- the Indian Premier League franchise Gujarat Titans, Healthcare Global, Sajjan India and United Lex, according to a statement. It plans to invest some of the new money being raised into more domestic companies. In the statement, CVC, which is focused on private markets, private equity, secondaries, credit and infrastructure, said the fund closure is 50 per cent larger than its predecessor fund, that raised USD 4.5 billion in 2020. The funds raised in the latest round saw a strong demand from new and returning blue chip investors enabling it to exceed the USD 6 billion target and original hard cap of USD 6.5 billion. This makes CVC one of the leading PE players in the region, having raised over USD 21 billion across its Asia-focused funds. The new fu

NIIF commits Rs 207 cr to Amicus for tech-enabled manufacturing, healthcare

National Investment and Infrastructure Fund Ltd (NIIF) on Monday announced a commitment of Rs 207 crore to private equity firm Amicus Capital for supporting tech-enabled speciality manufacturing, healthcare and financial services firms. NIIF Fund of Funds-I, the first fund under its private markets business (PMF-I), has made the commitment to Amicus Capital Partners India Fund II. With a target size of USD 200 million, Amicus Capital Fund II expects to support businesses that leverage technology to scale, early in their growth journey, across sectors such as speciality manufacturing, technology & business services, healthcare, financial services and other sectors, a joint statement said. Founded in 2016, Amicus Capital is an emerging fund manager with a strong track record in the early growth segment, it said. PMF-I backs established and emerging fund managers who have demonstrated a strong track record, an institutional mindset and a commitment to follow high standards of ...

Florintree Capital exits Data Patterns, sells entire stake for Rs 1,102 cr

According to the block deal data available with the BSE, Florintree Capital Partners LLP offloaded 59,96,622 shares, amounting to a 10.71 per cent stake in Data Patterns (India)

GPT Healthcare's IPO to open on February 22, PE firm BanyanTree to exit

The Initial Public Offering (IPO) GPT Healthcare Ltd, which operates and manages mid-sized multi-specialty hospitals under the ILS Hospitals brand, is set to open on February 22. The initial-share-sale is scheduled to conclude on February 26. The bidding for anchor investors will open for a day on February 21, according to the Red Herring Prospectus (RHP). The IPO is a combination of a fresh issue of equity shares aggregating to Rs 40 crore, and an Offer For Sale (OFS) of up to 2.6 crore equity shares by private equity firm BanyanTree Growth Capital II. BanyanTree, which holds 2.6 crore shares or 32.64 per cent stake in Kolkata-based GPT Healthcare, is divesting its entire shareholding in the company. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes. GPT Healthcare, which started with an eight-bed hospital in Kolkata in 2000, operates four full-service multi-specialty hospitals, with a total capacity of 561 beds. The company competes

Carlyle shares jump 10% after drop in Q4 earnings exceeds estimates

Carlyle said its net profit from asset sales fell nearly 44% to $257.7 million, as market volatility, high interest rates and geopolitical tensions weighed on its ability to cash out investments

Blackstone Q4 results: Earnings rise 4% to $1.4 bn as asset sales pick up

Distributable earnings, which represents cash used to pay dividends to shareholders, rose to nearly $1.4 billion in the three months to Dec. 31, up from $1.3 billion a year earlier

PE/VC bets drop for second year, down 11% at $49.8 bn in 2023: Report

Investments by private equity and venture capital funds declined for the second consecutive year in 2023 after the "funding winter" impacted 2022, a report said on Wednesday. The dedicated funds poured in USD 49.8 billion across 853 deals in 2023, as against USD 56.1 billion in 2022 across 1,273 deals, the report by industry lobby IVCA and consultancy firm EY said. The overall activity declined 34 per cent in 2022, after the all-time high of USD 75.9 billion reached in 2021. The decline in deals was largely because of a lack of interest in investing in India's startups, the report said, specifying that 2023 saw only 472 deals as against 815 in the year-ago period. The funds have "significant amounts of dry powder" and global funds are also looking to increase India's capital allocation, the consultancy's partner Vivek Soni said, adding that he remains "optimistic" about the Indian PE/VC scene for the new year. In 2023, growth investments was the largest segment for PE/VC bets with

Lenders retain AIF holdings even as Reserve Bank of India deadline nears

Industry is awaiting certain relaxations or extensions based on their recommendations