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Indian financial services giant Reliance Capital Ltd. has plans to add another $1 billion in deal making firepower as it announced plans to raise a new private equity fund.
According to Bloomberg, the
new vehicle, Reliance Equity Advisors Ltd., will invest in logistics,
drugmakers, retailers, media firms and Indian companies investing
overseas. Indian billionaire Anil Ambani, who controls Reliance Capital, is the anchor investor with a contribution of $200
million of his own money. The remainder will come from overseas
investors by the end of the year. Reliance also hired 15 managers from
other private equity firms including Actis LLP, ICICI Ventures and
Sequoia Capital.
Private equity money has been rushing into India this year. In July alone Donald Trump Jr., the son of real estate tycoon and reality television star Donald Trump, announced plans to raise as much as $1 billion for an India-focused property fund; and Dutch financial services firm Rabobank Group closed a new $100 million vehicle targeting small and medium agribusinesses in India. - George White See Bloomberg story See Dealscape post on Trump fund See Dealscape post Rabobank fund See DealWatch on PE/VC fund-raising Categories Deal Video
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