So far, FMO has invested about 703 million euros ($778 million) in India across 61 companies.
Rest of Asia
The new business will be headed by John Paitaridis, former MD of Australian telco Optus Business, who recently joined BGH as CEO of its IT portfolio.
P7 has already committed to two new investments.
Unizo last week rejected a buyout proposal from Blackstone as well as one from a "locally renowned" fund that it did not identify.
KKR will make the investment from its $9.3-billion Asian Fund III.
ACE Equity Partners will become the largest shareholder in Tesna.
The deal has generated a 2.75x return for the PE firm.
The owners will now seek to raise about $678.6 million in exchange for up to 33% of the company.
Crown Asia-Pacific Private Equity IV closed at the hard cap of $1 billion, well above the firm's $586-million third fund.
Each bidder is seeking to buy all shares in Hitachi Chemical, which is 51.2% owned by Hitachi.
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