Page 7 - Private Equity

PE firm True North forays into private credit, raises Rs 1,000 crore fund

Homegrown private equity fund True North on Monday announced a foray into private credit, joining a slew of other entities which have started dabbling in this space. The firm said it had set up a fund in 2022, and has already raised over Rs 1,000 crore. It intends to close the fund by the end of the year, as per a statement. The business christened "True North Private Credit" will build on the capabilities by the firm over the last two decades. A favourable risk-reward equation and a good regulatory framework make private credit a robust business, the statement said. The business will offer agile capital solutions to well-governed and profitable enterprises and deliver superior, risk-adjusted returns to its investors, it said. The fund, which bridges the supply-demand gaps for middle-market companies, will invest Rs 75 crore by itself into companies and Rs 200 crore along with its co-investment pools, as per the statement. It is targeting an internal rate of returns between 15-18

Ultimate Kho Kho becomes first Indian sports league to secure PE investment

Ultimate Kho Kho Season 2 is scheduled to be held from December 24 to January 14

PE firms' $1.5 trn worth of assets trapped in China after market slumps

With public markets in a slump and offering unattractive valuations, buyout firms are exploring private sales

AIFs seek clarity from Sebi on new valuation norms to address gaps

Industry body IVCA has sent suggestions to Sebi while highlighting implementation challenges

BS BFSI Summit 2023: Professionally run mfg cos to drive PE growth in India

PE investment to flow to financial, healthcare, and consumer sectors

Blackstone expects most Asia deal activity in Japan and India in 2024

"India has the highest growth; it also has the most ebullient stock market," Joe Baratta, Blackstone's global head of private equity, said in an interview in Tokyo

BS BFSI Summit 2023: No funding winter in PE investments, say experts

India is a highly favoured destination for investment in APAC, Renuka Ramnath, founder and CEO at Multiples Alternate Asset said at Business Standard's BFSI Insight Summit 2023

Blackstone makes health care foray with $1 bn deals, buys Care Hospitals

Blackstone's investment commitment combining QCIL and KIMS is close to $1 bn

Blackstone enters Indian healthcare services with Care Hospitals buy

Blackstone will commit $1 billion in the hospital chain in India and hold over 75% in Care Hospitals, a source with direct knowledge of the matter said

Healthcare and pharma sector sees surge in high-value deals: Report

The Private Equity (PE) sector experienced a decline in both values and volumes compared to the previous quarter

BS BFSI Summit: From Amit Chandra to Ankur Bansal, here're PE experts

PE/VC CEOs Panel's theme on October 31: The shrinking India pie - Will the trend reverse?

KKR-backed Avendus to tap tech investment banking deals in Southeast Asia

Majority owned by KKR, Avendus is best known in India for advising large startups such as SoftBank-backed food delivery firm Swiggy and eyewear retailer Lenskart on their fund raising

Deal activities decline marginally to $13.37 billion in Sept quarter

Overall deal activity declined marginally to USD 13.369 billion across 302 transactions in the July-September period, a report said on Friday. There were 345 transactions involving USD 13.394 billion in the preceding April-June quarter, as per the report by consultancy firm Grant Thornton Bharat. As compared to the first three quarters of 2022, the first nine months of the current calendar year witnessed a 68 per cent decline by value at USD 36 billion and a 39 per cent decline in volume terms to 979 transactions, as per the report. In the September quarter, the decline was attributed to the private equity transactions nearly halving to USD 5.707 billion. Its partner Shanthi Vijeta noted that the near-term economic outlook for FY24 remains positive due to pro-growth policies, reduced inflation and higher infra spends, which will fuel deal activities going forward. There was a handsome increase in cross-border deals, with transactions of over USD 4.336 billion as against USD 203 ..

PE investments in Indian real estate dip 12% to $2.3 billion in H1

The level of flows has remained below the pre-pandemic level of $4.2 billion in H1 FY20

Private equity investment fall by 65% to $1.81 bn in quarter ending Sept

Private equity (PE) investments in India fell 65.4 per cent to USD 1.81 billion in July-September 2023 as compared to the year-ago period, according to an industry report. In the year-ago period, PE investment was USD 5.23 billion. The number of deals also declined steeply by 50.1 per cent to 232 from 465 deals in Q3 2022, according to the data collated by Refinitiv, which is a London Stock Exchange Group (LSG) business. On a sequential basis, the number of deals fell 34.2 per cent from 353 in Q2 2023, and in value term it declined by 35.2 per cent from USD 2.79 billion. For the first nine months (January-September 2023), the Internet specific and computer software companies continued to attract maximum PE interest with USD 2.80 billion and USD 1.48 billion invested. But this is 63.2 per cent down from the year-ago period with the number of deals declining to 283 from 414 in the first nine month of 2022. PE investment in computer software was down 74.9 per cent, financial services

True North to sell 20% stake worth $325 million in Niva Bupa Insurance

Niva Bupa, a joint venture between British United Provident Association (Bupa) and India's True North, offers health insurance through more than 20 bank partners

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

Value of such transactions has also been coming down over time

The problem with index funds

The dominance of index funds could be stifling price competition, compounded by the concentration of power among a few giants in fund-management and private-equity

TPG-backed RR Kabel sets price band at Rs 983-1,035 per share

At the upper end, the issue size works out to Rs 1,964 crore, making it the second-largest IPO of the year after Mankind Pharma

Warburg sells 4.2% in IDFC First Bank; GQG picks up 2.6% in lender

On Friday, shares of IDFC First Bank fell by as much as 5 percent in early trading but recovered to end little changed