Tata Capital ties up $800mn for its PE ventures

12 May 2011

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Tata Capital Ltd, a wholly-owned subsidiary of the Rs3 lakh crore Tata Sons, on Wednesday said it has already tied up $800 million from domestic and overseas institutional investors for its family of five private equity funds. Last year, the company had said it would raise $1 billion for these its private equity funds by December 2011.

The five funds are Tata Capital Growth Fund, and the Tata Opportunities Fund, a special situations fund, an innovation fund and a healthcare fund.

It has tied up the amount in just six months of hitting the street and expects to make a final close well within the targeted deadline of December this year.

Praveen Kadle, managing director and chief executive, Tata Capital Nearly 40 per cent of the funds raised so far came from Japanese institutional investors, while about $220 million was sourced from Indian institutional investors, Tata Capital's managing director and chief executive Praveen Kadle, said at a briefing in Mumbai on Wednesday. The rest came from South-East Asia and Europe, he said.

Kadle said the funds would invest across stages - early stage, growth stage, expansion stage and even stressed assets.

It would look at investing in the design and engineering services related to high-value information technology services, healthcare, education, manufacturing and auto components, logistics support and low-cost housing, but will not invest in real estate and infrastructure. The deployment will be staggered over the next three-five years.

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