By M Sriram
Motilal Oswal is investing in the company through its third and latest private equity fund, India Business Excellence Fund. This is the first private equity investment in Happy Forgings.
Investa Office Fund said Blackstone has until Oct 18 to match or outbid Oxford Properties Group’s offer.
In January, ICD signed a shareholder agreement with the PE arm of IL&FS to launch an Africa-focused infrastructure fund with $105 million in seed capital.
IIFL has reportedly acquired 75% stake in the company.
The PE firm has substantially reduced its shareholding from 58.86 per cent to 1.36 per cent.
The buyout major made the investment from its $6.5-billion Carlyle Asia Partners V fund.
China-ASEAN Investment Cooperation Fund (CAF) is reportedly seeking up to $3 billion for its latest fund.
The vehicle has so far raised $280 million and expects to secure further commitments from now through December.
For its India infrastructure business, KKR has hired Hardik Shah from investment management firm Brookfield Asset Management, where he was responsible for sourcing and executing infrastructure deals.
About 70-80 per cent of buyouts in Asia today are secondaries i.e. from one PE firm to another.