Indias largest engineering firm, Larsen & Toubro, plans $300 million private equity fund to invest in power

Former MD of Reliance Money, Sudip Bandyopadhyay, starts finance company backed by CX Partners

Thu, 29-Apr-2010

Sudip Bandyopadhyay. former managing director of Indian billionaire Anil Ambani’s Reliance Money. has started a financial services company backed by private equity firm CX Partners .  Bandyopadhyay’s Convexity will offer equity broking and portfolio advisory services with a focus on derivatives, according to an e-mailed statement recently as reported by Bloomberg.  Bandyopadhyay quit Reliance Money and joined Spice Group to head its financial services business in November.

TPG-Owned China Grand Auto said to plan $1 billion stock offer

Carlyle Group raises $2.55 billion for third Asian private equity fund

Europes Investindustrial opens China office for expansion

Blackstone Group is investing $50 million in the owner of an Indian newspaper

Red Fort Capital plans to invest up to $1 billion in India real estate

Mon, 19-Apr-2010

Red Fort Capital Advisors Pvt.. a real estate private equity fund, plans to invest as much as $1 billion in India’s property market over the next few years to tap demand in the world’s second-fastest growing major economy reported  Bloomberg.  The firm has invested $400 million since 2007, mainly in residential projects, and may consider investing in offices, hotels and shopping malls, Managing Director Subhash Bedi said in an interview in Mumbai yesterday.

Demand for homes is picking up and Red Fort and its partners have sold 3,000 apartments over the last six months in New Delhi, Bangalore and Chennai, Bedi said. Red Fort has invested in projects with Parsvnath Developers Ltd. in the New Delhi area, and with closely held Prestige Group in Bangalore, he said.

“In India, there’s a growing middle class whose incomes are rising, the economy is consumption-led, investments come from high domestic savings and it’s a growing economy,” said Bedi. “Mortgage penetration rate is miniscule and as the penetration rate increases, more Indians will be buying homes.”

Red Fort Capital has returned an average 25 percent to its investors in each of the past three years, he said.

Red Fort Capital Advisors Pvt. a real estate private equity fund, plans to invest as much as $1 billion in India’s property market over the next few years to tap demand in the world’s second-fastest growing major economy.The firm has invested $400 million since 2007, mainly in residential projects, and may consider investing in offices, hotels and shopping malls, Managing Director Subhash Bedi said in an interview in Mumbai yesterday.

Demand for homes is picking up and Red Fort and its partners have sold 3,000 apartments over the last six months in New Delhi, Bangalore and Chennai, Bedi said. Red Fort has invested in projects with Parsvnath Developers Ltd. in the New Delhi area, and with closely held Prestige Group in Bangalore, he said.

“In India, there’s a growing middle class whose incomes are rising, the economy is consumption-led, investments come from high domestic savings and it’s a growing economy,” said Bedi. “Mortgage penetration rate is miniscule and as the penetration rate increases, more Indians will be buying homes.”

Red Fort Capital has returned an average 25 percent to its investors in each of the past three years, he said.