India’s homegrown personal equity (PE) company ChrysCapital is looking for to raise as much as $300 million for a brand-new fund to keep its minority stake in India’s National Stock Exchange of India (NSE), Bloomberg reported on Tuesday.
The PE company is dealing with a group at UBS Group AG for a so-called extension fund that will provide it more time and capital to hold its financial investment in NSE, the report stated.
ChrysCapital purchased a 5% stake in NSE in 2016 and wishes to hold its financial investment till the bourse goes public.
Depending upon the number of financiers choose in, ChrysCapital is anticipated to gather in between $250 million and $300 million for the fund. Strategies might still alter, consisting of the size of the fund, the report stated.
ChrysCapital is among the biggest PE companies in India. Given that its creation in 1999, it has actually raised over $5 billion throughout 9 funds and has actually seen numerous effective cycles of financial investments and exits. Its ninth fund was closed at $1.4 billion in 2015.
In overall, ChrysCapital has actually closed over 100 offers to date and has actually returned about $6.5 billion to LPs. Its portfolio business consist of engineering services supplier QuEST Global, Bandhan Mutual Fund, Hero FinCorp, andHumanity Pharmaceuticals
“There are a great deal of chances in India … When you take a look at the offers we have actually done, you will identify a great deal of mid-sized great business that have actually been fairly great gamers in their markets with incredible development capacity,” Kunal Shroff, Managing Partner & & co-founder of ChrysCapital, had actually previously informed DealStreetAsia.
“We buy business when we feel we can include more worth than the business owners,” he had actually stated at the Asia PE-VC Summit 2023 in Singapore.