PE funds feel slowdown, rupee pinch

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Tata Capital Growth Fund has changed tracks and reduced its planned fund size to slightly over $350 mn compared to the $400 mn target set at the time of the launch. Tata Capital Growth Fund has changed tracks and reduced its planned fund size to slightly over $350 mn compared to the $400 mn target set at the time of the launch.
SummaryBetween Jan 2010 and Sept 2013, 125 India-dedicated PE funds went on road to raise $19 bn cumulatively.

slightly different investment models including listed assets, management buyouts (giving them control), mezzanine-type structures and potential for larger fund raise. These have led to the need for larger PE investments,” Lahiri said.

Interestingly, not all funds are strugglingand at least three of them launched earlier this year have seen some success in drawing in investors. This includes IDFC Alternatives which has raised $644 million reaching the first close of its $1 billion targeted. Piramal group's real estate fund, Indiareit, raised $50 million for its $163 million fund based on the data provided by VCCEdge.

“Funds with a successful track record in exits and continued support from original investors has made fund-raising for a few firms easier than others,” Rastogi of E&Y said.

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