India Equity Partners (IEP), a three hundred million dollar India focused private equity fund, possibly will raise around one billion dollar corpus coming year to invest in India.
“We were going slowly earlier as the equity market was pricey,” said Steven Wisch, the US-based managing partner of IEP. The fund was raised one year and six month ago and so far 40 % has been used in investments in companies like Bharti Infratel, Mannapuram Group of Companies and Hyderabad-based port management company Ocean Sparkle ITD.
“We will raise a significantly higher fund subsequent year,” he said.
India Real Estate Opportunity (IREO) Fund, IEP’s sister concern, invested $1.4 billion out of its $1.6 billion equity in the Indian real estate sector in 2004-2007. IREO was started with a corpus of one hundred fifty million dollar and then moved on to raise $1.1 billion. IEP is planning to raise one billion dollar in the same way.
According to Khanna who is chairman and managing director of the firm”It is an electrifying time for private equity”. “We may finish our existing fund for investment by next year,” he added.
IEP has also brought K K Iyer and Sudarshan Sampathkumar, who were lead partners at Accenture, on board as managing directors.
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2 Comments
IEP did their home-work right, the market was pricey for the past few months and there will surely be opportunities for them to invest in the current period. The market can look forward to much more funding in the real estate sector once the government passes the real estate MF’s proposal.
Investment in properties includes hotels, resorts, hospitals, educational institutions and housing and commercial premises. The government has reduced the minimum mandatory area to allow FDI in real estate sector from 100 acres to 25 acres. so this will help IEP a lot to raise the expected amount from the bid.