Axis PE to launch second fund soon
Axis Private Equity (PE), a fund sponsored by the third largest private sector lender Axis Bank, plans to invest Rs 200 crore in two more companies, while it lines up its second fund. The second fund will hit the market later this year. - RBI governor meets bankers, discusses industry issues - FDI inflows into India to slip as TNCs rework investment plans - RPG enterprises to enter coffee chain business - Godrej to consolidate business by acquiring foreign brands - Uniform licence fee to hit NLD, ILD, ISPs: Ambit Fin - Crisis hits financial brands; Coca-Cola retains top slot While its first fund with a corpus of Rs 600 crore was primarily raised from the domestic market, especially from some large banks and companies, it aims to raise the second fund from abroad. The company, however, declined to disclose the details of the forthcoming fund. Raising fund internationally is difficult at the moment as limited partners (LPs) are closely evaluating the performance of PE players. Of late, LPs have started buying interests of other LPs at a discount. He added that new funds would see smaller commitment from LPs. “If an LP is not able to meet his commitment which he is perpetually bound to, he sells it to another LP. So LPs are looking at secondary transactions as they are available at a discount,” said Alok Gupta, CEO, Axis PE. However, there has been a gap in secondary transactions and their closure is becoming more difficult. With most of its investments in infrastructure and related areas, Axis PE calls its fund as the first derivative of an infrastructure fund. “It is the service provider who makes money in more seasons than the asset owners himself,” said Gupta. Axis PE’s investment themes in infrastructure sector are railways, energy, logistics, oil and gas pipelines, water supply and sanitation. The Mumbai-based fund’s first investment was to the tune of Rs 126 crore in Delhi-based Harish Chandra India (HCIL), a railway line building company; Rs 75 crore in hospitality company Neesa Leisure and Rs 67 crore in oil and gas pipeline developer Corrtech International Private Ltd, followed by Rs 60 crore in Vishwa Infrastructures. It recently invested Rs 54 crore in Shalivahana Green Energy (SGEL), with IL&FS as the co-investor. SGEL is a renewable energy player with focus on development and operation of biomass, waste-to-energy and small hydro power projects.KwikCash commented:
They have got the success in the previous equity of theris and people have shown interest in them therefore they have been launhing this one now which will surely get the success like the one before has got
22.08.2011
Payday uk commented:
This will surely raise a good amount of money for them and they will like it for sure
08.09.2011
Asian Family Office commented:
Axis Private Equity (PE), which is on a restructuring mode, saw the exit of its Director, William Knight, today. Knight was part of the company’s fundraising team and had joined the board in 2008.
12.10.2011
Australian Taxation Services commented:
It is very useful information for the common man that Axis is going to investing more inn private equity fund. A welcome news for the investors
19.10.2011
car rental in Singapore commented:
Such decision will come with a good result I think. You have shared a good information.Thanks for such post.
27.10.2011
Quick Loans commented:
Such decision will come with a good result I think. You have shared a good information.Thanks for such post.
31.10.2011
Payday Loans commented:
Its really very good step by Axis bank to launch second fund,hope it will induce more investor .
26.11.2011