CLSA To Boost PE Investments To $3 Billion; To Expand Investment Banking In India
Wed, 11/14/2007 - 21:35 — Sahad P VCLSA Ltd, part of France's Credit Agricole SA, plans to increase its private equity investments to $3 billion from $1.8 billion, according to Rob Morrison, chairman of CLSA. A big chunk of this money will be used for buyout opportunities in countries such as India and China, reports Bloomberg.
According to Morrison, India has huge investment opportunities as it needs capital to build power, roads and other utilities.
CLSA also plans to expand the investment banking business in India by doubling employees to eight. Besides, it also plans to renew a two-year contract with State Bank of India for pitching for investment banking business. In August, CLSA hired J Niranjan, former head of investment banking at ICICI Securities, as Asia Pac Co Head of Investment Banking.
