Exor SpA, a leading investment company in Europe, is putting in up to $100 million (about Rs 469 crore) in a $250-million (about Rs 1,173 crore) fund which is looking at opportunities for private equity investments in India and China.
Exor is controlled by the Agnelli family of Italy and is listed on the Italian stock exchange. It currently has net assets of around €6 billion (about Rs 33,994 crore), and owns majority in Fiat Group, the global auto manufacturer. It makes long-term investments in diversified sectors, mainly in Europe, the US and in the emerging markets.
The other investors in the fund include Jardine Matheson Group, a Chinese business group with interest in engineering & construction, transport services and retail, and Rothschild, an independent investment banking firm in London. The individual investments of Jardine and Rothschild were not known.
The fund has already set up a dedicated investment team in India and is expecting to have its China team in the next few months, said a company statement. It is looking at both medium and long term investment opportunities in the regions across a wide range of sectors, and plans to invest alongside entrepreneurs, corporations and other private equity houses in the midcap segment.
Jardine Matheson, on the other hand, is a diversified business group focused primarily on Asia. Its business interest lies in engineering and construction, transport services, insurance broking, property investment and development, retailing, hospitality, financial services, mining and agribusiness.
While Rothschild is a family-controlled financial advisory firm with market presence in over 40 countries, it provides investment banking, merchant banking, corporate banking and private wealth services to governments, corporations, institutions and individuals globally. It has recently closed a €583-million (about Rs 3,303 crore) fund dedicated to investing in Western Europe alongside its key clients.