| Log in

Faering Capital Raises Rs 830Cr For Maiden Fund

01 February, 2011

Faering Capital has announced the first close of its maiden private equity fund called India Evolving Fund at Rs 830 crore. According to a report in Dow Jones News Wire, quoting a statement, the firm will   focus on consumption-related investment opportunities in India. Faering plans to target deals between Rs 35 crore and Rs 80 crore. The first close was achieved in December 2010.

Earlier reports said that Faering is promoted by Aditya Parekh and Sameer Shroff. Parekh, the son of HDFC chairman Deepak Parekh, has earlier worked with DSP Merrill Lynch and is an MBA from Wharton. The fund was targeting domestic investors including banks and financial institutions. The advisory board of Faering Capital will also reportedly include Deepak Parekh and Godrej group chairman Adi Godrej. More details about the promoters or the fund could not be ascertained.

Several private equity funds, especially players raising their maiden vehicles, have tapped the domestic limited partners as the global market remained tough for the last two years. Overseas LPs are becoming increasingly choosy on making commitments in the backdrop of global financial crisis, preferring general partners with track record.

Aditya Birla Capital Advisors closed its maiden fund Aditya Birla Private Equity- Fund I early last year at Rs 880 crore from doemstic investors. Reliance Equity Advisors Ltd, the private equity arm of Anil Ambani’s Reliance Capital, also raised Rs 1,100 crore from domestic LPs before starting overseas fundraising. Other firms which tapped domestic LPs include Milestone Religare, Renuka Ramnath’s   Multiples, ICICI Venture’s India Advantage Fund Series 3, among others.


Leave Your Comment
Exclusive: Temasek set to buy out two PE firms in Manipal Hospitals

Exclusive: Temasek set to buy out two PE firms in Manipal Hospitals

Ranjani R and Debjyoti Roy 4 months ago
Singapore state investor Temasek Holdings is buying the minority stake held by...
Exclusive: Faering Capital kicks off work on another fund vehicle

Exclusive: Faering Capital kicks off work on another fund vehicle

Swet Sarika 8 months ago
Faering Capital, which is run by Aditya Parekh – son of HDFC chairman...
Exclusive: Siddharth Parekh’s PE fund strikes debut deal with realty startup Capacite

Exclusive: Siddharth Parekh’s PE fund strikes debut deal with realty startup Capacite

Swet Sarika 2 years ago
The maiden private equity fund of Siddharth Parekh, the younger son of HDFC Ltd...
No Comments

Faering Capital Raises Rs 830Cr For Maiden Fund

Powered by WordPress.com VIP