PEs, VCs pump-in $3.2bn investments in May in India: EY
Private equity and venture capital investments in India reached $3.2bn in May, helped by 10 large deals of value greater than $100mn. PE/VC investments crossed $3bn in May for the second time this year, after January, consultancy firm EY's private equity monthly deal-tracker report said. However, in volume terms, deals declined by 5% in May 2018 to 53 deals, against 56 in May 2017.
Largest deals include Temasek's $761mn investment in Larsen & Toubro's
"There were 10 deals of value greater than $100mn accounting for almost 85% of aggregate deal value ($2,746mn) in May 2018, compared to five ($2,675mn) in May 2017," the report said. The largest deals in the month included Temasek's $761mn investment in Larsen & Toubro's electrical and automation business for 35% stake, and Partners group and Kedaara's buyout of Vishal Mega Mart for $734mn.
PEs, VCs continued strong performance: EY partner
"PE/VC investment activity in the country has continued its strong performance in 2018 despite some global headwinds, with both investments and exits exceeding the numbers recorded in the first five months of 2017," said Vivek Soni, partner and national leader (PE services), EY.
Largest fundraise plan announced is of $300mn by Cerestra Advisors
Exits worth $1.6bn were recorded in May, the second consecutive month with over $1bn in exits this year. The EY report said the reporting month witnessed four fund raises worth $368mn, while there were $600mn worth of fundraising plans announced. It added that the largest fundraise plan announcement of $300mn was made by Cerestra Advisors for investments into education infrastructure.
