Franklin Templeton eyes up to $100M in second India-focused PE fund

Franklin Templeton Private Equity Strategy (FTPES), the PE arm of global financial services firm Franklin Templeton, is eying its second India-focused private equity fund with a target corpus of Rs 500-600 crore, mainly from high net-worth individuals (HNIs) in India, according to a news report by Business Standard citing a top executive.

Deepa Sankaran, managing director of Darby Asia Investors (India) Pvt Ltd—investment advisors for FTPES—told the paper, that it would be a mezzanine fund with a long-term horizon and it will have the ability for redemption.

Earlier in 2008, the company had raised around Rs 500 crore for the first India fund. The fund is said to have been fully invested in eight investments and is currently in divestment mode.

FTPES previously backed companies like Symbiotec Pharmalab, Career Point, SFO Technologies, GKC Projects, Newgen Knowledge, Electrosteel, Kimaya Fashions and Verse Innovation, according to VCEdge, the data research platform of VCCircle.

(Edited by Joby Puthuparampil Johnson)

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