United Arab Emirates based NBD Sana Capital has raised $170 millon as
first close of its buyout fund and is eyeing buyout opportunities in India. "We are looking at a few very attractive deal opportunities, particularly in
NBD Sana Capital is the private equity arm of UAE's Emirates NBD PJSC.
The fund plans to have a final close of $500 million, after having a
second close of $250 million in 2009.
NBD Sana focuses on sectors - telecommunications, media and technology
(TMT); energy; healthcare; pharmaceuticals; and also retail. The funds
also plans to invest in Middle East, North Africa and Turkey. Another
Gulf based fund looking to invest in India is Dubai-based Millennium
Finance Corporation (MFC), which is raising a cleantech and a real
estate fund of $200 million each.
Several Gulf based funds are now eyeing investment opportunities in
India as west moves into a prolonged recession. While traditionally
investments by Gulf based funds were primarily in Indian real estate,
these funds are now looking at opportunities in sectors like cleantech