TPG CAPITAL
DEG-IFC-ADB trio eyes renewable energy firm Fourth Partner
A group of German investor DEG, along with the World Bank's International Finance Corporation (IFC) and the Asian Development Bank (ADB), are set to invest $300 million to acquire a controlling interest in Fourth Partner Energy, a renewable energy firm based in Hyderabad.
TPG Capital acquires 60% stake in digital services firm Altimetrik
With a focus on brand visibility and global expansion, Altimetrik, led by Raj Sundaresan and supported by Adam Caplan, aims to leverage the partnership with TPG Capital to strengthen its position in the digital business landscape and drive revenue growth through innovative solutions.
TPG Capital buys controlling stake in digital services company Altimetrik
Altimetrik, backed by TPG Capital, expands its reach with a robust partner network including Snowflake. The company's leadership team, under CEO Raj Sundaresan, focuses on driving innovation and delivering business outcomes, solidifying its position in the digital business landscape.
Herd on PE Street: TPG outruns everyone in race for Altimetrik
Last month, its Asia-focused fund TPG Asia VIII secured $5.3 billion in aggregate capital commitments. That made it the firm’s largest Asia fund in 30 years of investing in the region. Since inception, TPG Asia has ploughed more than $13 billion into core sectors including consumer, healthcare, financial services and TMT/new economy and the fund has realised more than $16 billion, according to its website.
Mankind Pharma in race with PEs to buy BSV Group at possible valuation of Rs 13,000 crore
Warburg Pincus, ChrysCapital, TPG, Blackstone, EQT, Mankind Pharma, and Dr Reddy's Laboratories are competing to acquire BSV Group, a biopharma firm specializing in women's health and critical care products, indicating a trend of consolidation in the domestic pharma sector. Mankind, Dr. Reddy’s, and Blackstone have evaluated BSV at different times, including before Advent's acquisition.
Lending startup Fibe closes $90 million financing in mix of primary and secondary transaction
Pune-based consumer lending startup Fibe is raining money at a time when fintech lending startups focusing on unsecured consumer lending are finding it difficult to raise fresh equity funding due to RBI's scanner.
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Stocks in news: Apollo Hospitals, Muthoot Finance, Tata Steel, Kfin Tech, RR Kabel
Tata Steel Ltd on Wednesday reported 64% fall in its consolidated net profit at Rs 611 crore for the fourth quarter, compared with Rs 1,705 crore in the same quarter a year earlier.
Founder Sachdev to retain majority stake in Centre for Sight
The Padma Shri awardee, who previously headed the ophthalmology department at All India Institute of Medical Sciences, told ET that he would be among the few entrepreneurs in this sector to remain in control of his company after private equity investors swamped the space announcing a slew of investments in the past 24 months.
ChrysCapital to invest Rs 830 cr in Centre For Sight, to pick Mahindra Holdings' entire stake
ChrysCapital, a domestic PE fund, is set to invest up to Rs 830 crore in New Delhi's Centre for Sight (CFS), a leading eye care chain, partly acquiring Mahindra Holdings Limited's stake. The investment aims to bolster CFS's expansion across India's Tier 1 and 2 cities. CFS, founded in 1996, operates 83 centers across 15 states/UTs and 39 cities, expecting revenue of Rs 515 crore in FY24.
General Atlantic, TPG Capital, two other PEs in race for Altimetrik
Altimetrik has offices in over 20 locations, six of them in India, with more than 80% of its workforce based in the country. The company has a team of over 6,000 digital practitioners. It has a global client base engaged in the BFSI, fintech, automotive, manufacturing, retail, pharmaceutical and life science sectors. They include Citi, Morgan Stanley, Novartis, Sony, Schindler and Samsung. In India, the company has offices in Pune, Chennai, Bengaluru, Hyderabad, Jaipur and Gurgaon.
Asset manager TPG raises $8 bln for Asia-focused private equity, real estate funds
The fundraising takes TPG's total Asia assets under management to $35 billion, spread across "dedicated Asia-focused private equity, real estate, and secondaries," the Texas, U.S.-based company said.
Grihum Housing Finance Q4 Results: Net profit rises 24% YoY to Rs 46 crore
Grihum Housing Finance Q4 Results, Grihum Housing Finance Q4 earnings, Grihum Housing Finance shares , Grihum Housing Finance, markets news
KKR acquires Healthium from Apax Partners for Rs 7,000 cr
KKR acquired Healthium Medtech Ltd., a leading Indian medical devices company, from Apax Partners. The deal, valued at approximately Rs 7000 crore, involves a special purpose vehicle owned by KKR-managed funds gaining control of Healthium. Healthium, the fourth-largest surgical suture manufacturer globally, maintains a strong presence in India and abroad, with KKR aiming to leverage its expertise to further expand its reach
FirstCry's parent firm Brainbees Solutions re-files IPO papers; issue size remains unchanged
May 6 Brainbees Solutions Ltd, the parent firm of online e-commerce platform FirstCry, has re-filed preliminary papers with Sebi to raise funds through an initial public offering, an update with the markets regulator showed on Monday.
Kedaara Capital closes largest India PE fund at $1.74 billion
Kedaara Capital has closed its $1.73 billion fund, Kedaara IV, the largest fund raised by an India private equity fund in 12 years. The fund, which will be its fourth in 12 years, was raised in just four months beginning last December and would even surpass Chrys Cap’s $1.3 billion Fund IX raised in 2023. Around 85% of Kedaara’s new fund was raised from existing backers, including the three of the largest Canadian pension funds – CPPIB, CDPQ, and Ontario Teachers’ Pension Plan (OTPP).
Peak XV MD Piyush Gupta to leave VC fund
Piyush Gupta is a managing director at Peak XV Partners, based out of Singapore. While he is not directly involved in making investments for the fund, he led the team which helped the firm's portfolio companies in several aspects including fundraising, mergers and acquisitions.
TPG Growth circles VLCC as Carlyle looks to sell minority stake in wellness company
Last January, Carlyle paid Rs 2,700 crore to buy a controlling 66% stake in the three-decade-old homegrown brand that gave the buyout fund an entry into a rapidly growing market for wellness products but one that is facing disruption from younger, nimbler, direct-to-consumer (D2C) brands.
ETtech In-depth: How a diversified capital pool is changing dealmaking for Indian startups
Startups witness a shift in investment trends. Domestic investors, family offices, and public market investors like ValueQuest and Singularity Ventures actively back ventures. Investment landscape changes as global funds retreat, and founders turn to investment banks for funding.
Brookfield, Platinum slug it out to acquire PGP Glass; PE firms seek controlling stake now at $1.4-1.6 bn value
Brookfield's private equity division is in discussions with Blackstone, the world's largest alternative asset manager, to buy into PGP Glass, formerly Piramal Glass. The Canadian asset management giant is competing with US firm Platinum Equity Partners, a relatively unknown entity in India so far. The deal contours have changed as negotiations progress, with the PE suitors now seeking a stake of 65-75% with Blackstone owning the rest.
Quadria Capital backed HealthQuad exits AINU
HealthQuad, backed by Quadria Capital, exits AINU post acquisition by Asian Healthcare Holdings with TPG Growth and GIC for ₹600 crore, achieving a fourfold return. AINU operates in multiple cities and has treated numerous patients.
Shadowfax raises $100 million in latest funding led by TPG New Quest
Logistics startup Shadowfax will use the funds to extend its last-mile delivery services to cover 20,000 pincodes across India. The company is looking to include intercity operations in the coming three quarters. Part of the proceeds will be utilised to develop state-of-the-art services for D2C brands and further enhance Shadowfax’s express delivery network, the company said.
HCG stake sale: A big acquisition deal likely coming up for HCG as EQT, TPG and KKR eye majority stake
A rising middle-class and an aging population have boosted demand for private medical services across Asia, which in turn, is seeing massive consolidation and heightened deal activity in the healthcare sector.
IFC-ADB, just climate in race to buy fourth partner energy
Fourth Partner focuses on building and financing renewable energy projects for commercial and industrial entities. It has an installed portfolio of 1.35 GW and is targeting to expand that to 3.5 GW by 2025. In fiscal 2022, it posted revenue of ₹1,018 crore, up from ₹459 crore the previous year, as per latest available financial numbers.
SK Finance raises Rs 1,328 cr from TPG, Motilal Oswal
SK Finance raised Rs1,328 crore from existing investors Norwest Venture Partners, TPG Growth, Baring Private Equity India, and new investors Motilal Oswal's MO Alternate Investment Advisors, and Duro Capital. The funds will be used for brand, distribution, technology, and people. SK Finance, founded in 1994, offers commercial vehicle loans, car loans, tractor loans, two-wheeler loans, and secured business loans. It has a presence in 12 states with 500 branches and over 9,600 employees.
IPO-bound SK Finance raises Rs 1,328 crore in fresh equity fundraise
TPG Growth-backed SK Finance, an NBFC engaged in used and new vehicle financing and secured business loans, raised Rs 1,328 crore from existing investors along with few other new investors.
3 global funds sell 7.8% stake in Five-Star Business for Rs 1,656 crore via open market
TPG Capital, through one of its affiliates TPG Asia Vii Sf Pte, sold 89,07,493 shares of Five-Star Business or 3.05% stake at Rs 730 apiece, aggregating around Rs 650 crore, according to bulk deals data on the National Stock Exchange. As of September end, the global private equity fund held 14.29% stake in the NBFC.
Petronas, two others eye green energy co Fourth Partner
Petronas owns Amplus Solar in India that has an operating portfolio of 1.5 GW of renewable assets. Vitol owns around 1.2 GW of renewable assets, while Indonesia-based Sun Energy has installed over 280 MW of renewable power capacity for corporate clients. Norfund, a Norway government sponsored investment fund, which invested $100 million in the company in 2021, will continue to hold its stake, the source added.
Blackstone among global funds in race for Sai Life
Several global funds, including Blackstone, Carlyle, PAG, CVC Capital, BPEA EQT, Brookfield Asset Management, and Apax Partners, are interested in acquiring Hyderabad-based pharmaceutical company Sai Life Sciences. The company is currently valued at $800 million, but it is expected to be valued at around $500 million.
TPG-backed Planview opens capability centre in Bengaluru, to invest $125 million
The Texas, US-headquartered company Thursday said the investment will go into hiring and centre operating expenses over the next four years to drive a strong growth trajectory in the country.
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