Private equity major ChrysCapital on Thursday announced the closure of its latest and fifth fund worth $1.25 billion (about Rs 5,000 crore), taking up its total asset under management to $2.25 billion. The company is now the largest India focused private equity fund.
Ashish Dhawan, senior managing director, ChrysCapital said that the money has been raised from 75 global investors from different parts of the world and it will be deployed in a span of two to three years.
The company has identified six core sectors for investment, including infrastructure, financial services and pharma, he said, adding that it will also actively consider partnering domestic companies in overseas acquisition venture.
?With the fifth fund, we will now be able to deploy larger amount of growth capital as well as explore buy-out opportunities,? Dhawan said. ?Our performance has been amongst the best globally. We have proven to our global investors that Indian is an extremely attractive investment destination,? Dhawan added.
The average deal size would be $30-300 million (Rs 120-1,200 crore) and the holding period will be in the range of 4-7 years, he added.
Speaking on the current exposure, he said the fund house has made investment in 40 companies since its inception in 1999. Some of the major names include Idea Cellular, Suzlon, Moserbaer, Spectramind, Axis Bank (earlier UTI Bank), Yes Bank and Hathway, he added.