Buyout Funds In Fray For $200M Investment In Firepro – Global buyout funds, including Apax Partners and few more major strategic global players are looking at investing around $200 million to wrest control of Bangalore-based FirePro Systems. FirePro Systems, with a topline of Rs 700 crore is among the established players offering integrated solutions for fire protection, security and building management systems. During late 2009, Standard Chartered Private Equity had invested Rs 150 crore and earlier during early 2006 had raised Rs 50 crore AIG. (Business Standard)
Infosys BPO Eyes Acquisitions – Infosys BPO today said it was scouting for acquisitions across the globe as it eyed to reach the $1 billion revenue target over the next few years. The BPO is looking at targets in geographies like Europe, Latin America, Africa and Asia Pacific. The company would look at targets which would help Infosys BPO strengthen its core competency in verticals like sourcing and procurement and legal process outsourcing. (Business Standard)
Sunil Kaushal May Become StanChart India Head – Sunil Kaushal, head of Standard Chartered Bank’s Taiwan unit, may succeed Neeraj Swaroop as chief of India operations where profits have come under pressure after five years of accelerated growth. Kaushal, who grew up in Mumbai, will be returning to the city after 15 years of deal-making across various cities from New York to London to Dubai. Swaroop is set to take charge as Standard Chartered’s regional chief executive officer of Southeast Asia, based in Singapore. (Economic Times)
Aegis Plans IPO – Aegis, the business process outsourcing (BPO) arm of Essar group is planning to get listed on stock exchanges between FY12 and FY15. The company has completed more than 16 acquisitions in the last five years. Aegis Ltd. provides global business process outsourcing services. The company’s revenues stand at $700 million at present and the BPO expects the figure to reach $1 billion in fiscal year 2012. (Financial Express)
Milestone To Close Realty Fund – Private equity firm Milestone Capital Advisors is set to close its real estate fund worth over Rs 400 crore by this month-end. Out of this fund, Milestone has already invested Rs 75 crore in a Mumbai-based residential-cum-government office project developed by Ackruti City Real Estate Developers and Rs 15 crore as the initial investment in a Bangalore-based residential project by Jain Heights. The company is also planning to deploy another Rs 50 crore by September across two projects. (Financial Express)
Karnataka Govt Plans Three Venture Funds – The Karnataka government’s investment arm is preparing to launch three funds with a total corpus of approximately Rs 160 crore to focus on small and medium enterprises and biotech and semi- conductor start-ups in the state. The new semiconductor focused fund will have a corpus of Rs 100 crore and the biotech fund approximately Rs 50 crore and the SME-focused fund, called Karnataka Venture Capital Fund (Karven Fund), will have a corpus of Rs 10 crore to invest in companies in the manufacturing, agro processing, auto components, clean tech and aero parts sectors.