By
Emso, Eight Capital eye stressed assets; Apollo Global buys JPMorgan realty platform
Photo Credit: Thinkstock

London-based hedge fund Emso Asset Management Ltd has tied up with Mumbai-based distressed asset management firm Eight Capital Management LLC to buy stressed assets in India, Mint reported.

An Emso spokesperson told the financial daily that they are targeting stressed assets which are undergoing insolvency proceedings.
Citing a person aware of the development, the report said the partnership is looking at deals with ticket size of up to $50 million and is targeting 10-15 transactions.

Several joint ventures have been launched in the past few years to invest in stressed assets.

Last month, financial services provider Aditya Birla Capital Ltd partnered with US fund manager Varde Partners to invest in stressed assets.

Piramal Enterprises Ltd had tied up with Bain Capital Credit to jointly invest in stressed assets. Similarly, Canada's Brookfield Asset Management Inc. formed a JV with State Bank of India. US private equity firm JC Flowers & Co. floated a JV with investment bank Ambit Holdings Pvt Ltd.

Apollo-JPMorgan

Alternative investment firm Apollo Global Management has acquired JPMorgan Asset Management’s $300 million real estate portfolio in India as its new fund manager and general partner, Mint reported, citing two people aware of the development.

Four members of JPMorgan’s India team has joined Apollo Global as part of the transaction, the report said.

JPMorgan’s real estate fund management platform has 15 investments across five cities, according to the report.

Last year, VCCircle reported that JP Morgan had decided to halt real estate investments in India.

Mu Sigma

Dhiraj Rajaram, founder of data analytics firm Mu Sigma, is planning to buy back shares held by private equity firm General Atlantic and venture capital firm Sequoia Capital in the company, The Times of India reported, citing people aware of the development.

General Atlantic and Sequoia hold around 45% stake in the company, the report added.

Rajaram held talks with financial institutions including Credit Suisse and Standard Chartered Bank to finance the share buyback, according to the report.

Rajaram is seeking a valuation of $700-800 million for the company. He holds about 52% stake in the company.

Kissht funding

Online lending startup Kissht, run by OnEMi Technology Solutions Pvt. Ltd, is in discussions with Sistema Asia Fund and Vertex Ventures to raise capital in a Series C round of funding, Mint reported, citing two people aware of the development.

Sistema Asia Fund is a venture capital fund floated by Russian conglomerate Sistema JSFC. Vertex Ventures is an early-stage venture capital firm backed by Singapore state investment firm Temasek Holdings.

The report said that Kissht’s talks with global venture capital firm B Capital Group to raise funds didn’t fructify.

The company had last raised $10 million in November 2017 in a round led by China's Fosun International.

Kissht offers pre-approved credit to customers in the form of an EMI card, which can be used across partner merchants to make purchases at digital points of sale both online and physical stores.

Licious funding

Online meat ordering platform Licious, which is operated by Bengaluru-based Delightful Gourmet Pvt. Ltd, is in discussions to raise $25-30 million from new and existing investors, Mint reported, citing two people aware of the development.

Bertelsmann India Investments is among the new investors that Licious is in talks with to raise funds, the report said.

Bertelsmann India is the strategic investment arm of one of the world's largest mass media companies, Bertelsmann SE & Co.

Licious had last raised $10 million in the Series B round of funding in March 2017.

Founded in June 2015 by Vivek Gupta and Abhay Hanjura, Licious runs an end-to-end business model for meat delivery that comprises procurement, processing, storage and delivery.

Leave Your Comment(s)