First Half ’08 India PE Fundraising Robust

EMPEA reports that private equity fund raising in emerging markets (Africa, Asia, Europe, Latin America, the Middle East and Russia) is on track to beat 2007 levels — see EMPEA Release. A total of 104 funds have raised more than $35 billion in the first six months of 2008, up 68 per cent from the amount raised in the same period last year. The release further states that fund raising in 2008 so far has been led by Emerging Asia, which EMPEA defines primarily as China and India. In fact, interest in markets such as China and India is even higher this year — Emerging Asia accounted for 75 per cent of total funds raised in the first six months of 2008 against 55 per cent in 2007. China has raised $11.2 billion while India has raised $3 billion.

In a separate study Thomson Reuters reports — Thomson Reuters Release — that fund raising in the Asia Pacific region (excluding Japan) amounted to $17.8 billion during the six months ended June 2008, with Hong Kong scoring the highest with $9.29 billion. India came in fourth — it raised $1.49 billion

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First Half '08 India PE Fundraising Robust

EMPEA reports that private equity fund raising in emerging markets (Africa, Asia, Europe, Latin America, the Middle East and Russia) is on track to beat 2007 levels — see EMPEA Release. A total of 104 funds have raised more than $35 billion in the first six months of 2008, up 68 per cent from the amount raised in the same period last year. The release further states that fund raising in 2008 so far has been led by Emerging Asia, which EMPEA defines primarily as China and India. In fact, interest in markets such as China and India is even higher this year — Emerging Asia accounted for 75 per cent of total funds raised in the first six months of 2008 against 55 per cent in 2007. China has raised $11.2 billion while India has raised $3 billion.

In a separate study Thomson Reuters reports — Thomson Reuters Release — that fund raising in the Asia Pacific region (excluding Japan) amounted to $17.8 billion during the six months ended June 2008, with Hong Kong scoring the highest with $9.29 billion. India came in fourth — it raised $1.49 billion

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Crisis At CVCI?

There are few people as synonymous with Indian private equity as Ajay Relan. Therefore, when speculation mounts about his moving on from Citi Venture Capital International’s India operations to startup on his own, it is an exciting thought, to put it mildly. None of the reports that have appeared so far have been confirmed yet. In fact Relan himself denies any such plans.

While the two may or may not be related, Citigroup Inc’s troubles overseas on account of the US subprime crisis are now well documented — it closed the second quarter of fiscal 2008 (April-June) with $2.5 billion losses against a net income of $6.23 billion in the corresponding quarter in 2007. In May, Vikram Pandit, the firm’s just over six months old CEO who took over from Charles Prince, launched some hard restructuring measures to stem losses. The bank plans to write down more than $350 billion in assets over the next 2-3 years. This includes $9 billion on account of Old Lane, a hedge fund founded by Pandit which Citi bought in May 2007 for $800 million — read the press release on Old Lane’s restructuring.

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