The fund managers in India and other emerging markets have a reason to smile. A new fund named Vanterra Capital Ltd has closed its first round of $152 million for its debut fund. Vanterra is a middle market private equity firm focussed on emerging markets like India, China, the Middle East, Africa, and Eastern Europe.
Vanterra , whose principal investor is an affiliate of Quadrant Management, will invest in smaller and emerging private equity funds and makes direct equity investments focused on the lower middle market. The fund would look to co-invest as well as execute direct deals. The fund expects to reach a $300 million closure by early next year.
"The current market dislocation and capital scarcity has created tremendous opportunities for our strategy," said Shad F. Azimi, Principal at Vanterra. "In fact, the significant interest in our fund, in spite of the challenging fundraising market is validation of our thesis. We focus on identifying lower middle market funds with unique strategies that target high growth markets characterised by greater market inefficiencies, more proprietary deal flow, and less leverage - all of which lead to greater value creation opportunities."
Vanterra's founders are Shad F. Azimi, formerly a principal at New York Life Capital Partners, a $7 billion private equity fund; Alan Quasha, CEO of Quadrant Management, Inc.; and Jason Young, a Managing Director of Quadrant Management.
Vanterra's advisory board includes, among others: Prof Glenn Hubbard (Dean of Columbia Business School), John Schumacher (CEO of New York Life Capital Partners), Khaled Al-Muhairy (Founder and CEO of Evolvence Capital), and Hassan Nemazee (Chairman and CEO of Nemazee Capital).
Quadrant and its affiliates manage in excess of $3 billion with offices in the U.S., China, India, Eastern Europe, the Middle East, and Africa.