Exclusive: India-based Multiples Investment Advisors’ new fund gets IFC investment, to target $600m corpus
By Anirvan Ghosh
The Mumbai-based private equity firm founded by Renuka Ramnath, is raising a fund with a targeted corpus of between $550 million and $600 million, its biggest ever.
Chinese entrepreneurs facing the twin challenges of succession and a slowing economy are becoming more willing to cede majority ownership to buyout firms. It’s a tectonic shift in a market where the likes of Carlyle Group LP and KKR & Co. have traditionally been forced to forgo controlling stakes.
TPG merges India investment teams of its two arms to ensure better collaboration; Puneet Bhatia of TPG Capital India will head the combined teams.
Anbang Insurance Group Co, that backed out of a takeover bid for Starwood Hotels & Resorts Worldwide Inc., is on track to complete its $6.5 billion purchase of another U.S. hotel company from Blackstone Group.
McDonald’s Corp is targeting private equity firms, including Bain Capital, MBK Partners, TPG Capital Management and Chinese state-backed conglomerate China Resources (Holdings) for its planned sale of 2,800 restaurants in North Asia,
Ardian is acquiring a majority stake in French quality inspection services firm Trigo Group.
The round was led by China-based financial conglomerate AVIC Trust, and saw participation from a subsidiary of Warburg Pincus, also an existing investor of Mofang.
PE firm Westbridge Capital has made a voluntary open offer to hike its stake in DFM Foods Ltd to 51 per cent, the company said on Tuesday.
Gaw Capital Partners, the Hong Kong-based private equity real estate firm, has raised more than half of the targeted amount for its latest fund. It has hit first close at $700m for Gaw Capital Real Estate Fund V.
Deepak Shahdadpuri-led investment firm DSG Consumer Partners has made the first close of its second fund at $35 million, with 40 per cent participation from its existing investors. The early-stage investment fund, which exhausted its first fund of around $14 million in the end of December, started raising funds for… Read more »