The group has already initiated talks to sell stakes in broadcaster Zee Entertainment Enterprises Ltd and road and solar power assets.
The investment also marks the exit for Malaysian sovereign wealth fund Khazanah Nasional Berhad and TA Associates.
Agriculture and healthcare technology are two strong emerging themes in India which Google Launchpad is likely to back in the future.
Availability of ample dry powder and the absence of a window for launching IPOs will lead more PEs to seek exit through secondary transactions in 2019.
GIP will be investing in buyout opportunities, besides assisting global infrastructure developers and operators willing to set up shop in India to de-risk their equity exposure.
After the fund-raise, APAC’s total capital is at ₹400 crore with Chadha holding a majority stake.
The diagnostics chain is in talks with investors to raise money to buy back the stake. Separately, Carlye is also reaching out to outside investors including PE firms to sell its stake.
The bank is expected to raise around Rs 1,400 crore-Rs 1,500 crore through the deal.
Bankers are said to have approached Macquarie and Brookfield for the sale of IL&FS’ road assets.
The homegrown fund will also be exploring investment opportunities in distressed food and agriculture businesses.