Religare divesting rest of $20 bn global asset management business
Financial services firm Religare Enterprises Ltd, which struck deals to divest two US fund management units last month, is now close to selling the remaining pieces under its global asset management business straddling both offshore and onshore alternative investment practice.The deals that are to be closed within the next few ......
News Roundup: Global PE firms restart talks to buy UB Group’s corporate office in Bangalore for Rs 600Cr
Global private equity (PE) funds are understood to have come back to the table to discuss an acquisition of Bangalores UB Towers, the 17-storey corporate head office of UB Group, in a close-to-Rs 600-crore ($93 million) deal. After an earlier attempt failed last year, apparently due to differences over valuation, ......
Foxconn-backed MoMagic invests $745K in contest app mChamp
MoMagic Technologies Pvt Ltd has put in Rs 5 crore (nearly $745,000) in Delhi-based mChamp Entertainments, which conducts celebrity-related and entertainment-driven contests on its app, in a seed investment round.This is the second startup where MoMagic, backed by Taiwanese contract electronics manufacturer Foxconn, has put in money this month; it ......
PE & VC firms’ ’dry powder’ piles up as LPs turn more bullish on India
The quantum of cash with India-focused private equity (PE) and venture capital (VC) funds piled up in the first three months of this year as fresh capital commitment by limited partners or LPs rose at the fastest pace in two years.New capital commitment by LPs, who are the real investors ......
Is Mumbai’s realty market pulling out of a slump?
Mumbai’s real estate market, the biggest by value in the country, appears to be showing early signs of a pickup in demand for housing properties after reeling under a sales slump for the past couple of years.Beating the overall market trend, some projects launched recently in the city have sold ......
SSG Capital to buy 40% stake in Future Supply Chain for $87M
Singapore's distressed assets fund management firm SSG Capital Management Group is investing up to Rs 580 crore ($87 million) to acquire 40 per cent stake in Future Supply Chain Solutions Ltd (FSC) from the company's existing shareholders.The deal includes the purchase of the entire 26 per cent stake held by ......
Sanjay Dutt to quit Cushman & Wakefield
Sanjay Dutt, managing director at Cushman & Wakefield (C&W) in India, is on his way out after working for about four years in his second stint at the commercial real estate services company, multiple people familiar with the development told VCCircle.“It is confirmed that he is quitting C&W and could ......
TPG Growth buys majority stake in Cancer Treatment Services
TPG Growth, the mid-market and growth-equity investment platform of leveraged-buyout group TPG, said on Wednesday it has bought a majority stake in India- and South Asia-focused cancer treatment provider Cancer Treatment Services International.The investment firm didn’t disclose financial details of the deal but said in a statement it will bring ......
Samara Capital to exit Asian Oilfield with over 50% loss
Private equity fund Samara Capital Partners has agreed to sell its entire 56.32% stake in Asian Oilfield Services Ltd to Mumbai-headquartered energy exploration company Oilmax Energy for close to Rs 30 crore with a loss of over 50%, as per a stock exchange filing.Following the deal, Oilmax had made an ......
News Roundup: L&T To Buy IDFC PE, JPMorgan’s Stake In Arm
L&T To Buy IDFC PE, JPMorgan's Stake In Arm - Larsen & Toubro will make L&T Infrastructure Development Projects (L&T IDPL), a wholly-owned subsidiary, by buying 14% from IDFC Private Equity and JPMorgan Chase for at least Rs 740 crore. The firm may later go for an IPO. The transaction ......
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