Investcorp raises up to Rs 1000 crore (US $142 million) in its maiden private equity India fund

23 Jul 2019

Global alternative asset manager Investcorp, today announced the final close of its maiden Private Equity Fund offering for India. The fund gained a total capital commitment of around Rs 1000 Crore (US $142 million), within a few months of Investcorp establishing its lndia presence. The limited partners of the fund comprise a well-diversified universe of Indian banks, insurance companies, family offices and international fund of funds.

The new fund will continue to focus on consumer, financial services and healthcare opportunities. The fund has so far deployed Rs 270 Crore (US $39 million) in four companies namely Incred, ASG, Zolo and Citykart. The fund also has a strong pipeline to deploy the balance capital over the next 18+ months.

Rishi Kapoor, Co-CEO of Investcorp said, “Our investors have been looking for a strategy/investment solution through which they can participate in the growth story of India. Our focus has always been on innovative strategies that help investors to diversify their portfolio. The fact that we were able to close our maiden India fund offering at a size of Rs 1000 crores (US $142 million) in a few months is testament to investor confidence in our market entry approach and investment strategy for India. We look forward to working with our first-rate private equity management team in India – Co-headed  by Girish Nadkarni and Gaurav Sharma – to build on our established global footprint in private equity investing.”

Investcorp a leading global provider and manager of alternative investment products, managing about US $27 billion of assets across private equity, real estate, absolute return investments and credit. It has offices in New York, London, Bahrain, Abu Dhabi, Doha, Riyadh, and Singapore. Investcorp entered the Indian market last year through the acquisition of the private equity and real estate funds businesses of IDFC Alternatives Ltd. The launch of Investcorp India Asset Managers Limited and opening of its 8th office in Mumbai is part of Investcorp’s overall growth strategy and global expansion plan.