HomeIndiaIndia, Aditya Birla Capital Advisors Announces First Closing of Private Equity Fund

India, Aditya Birla Capital Advisors Announces First Closing of Private Equity Fund

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Aditya Birla Capital Advisors (ABCAP), the private equity arm of the Aditya Birla Financial Services Group (ABFSG), announced the first closing of its private equity fund.
The Aditya Birla Private Equity – Fund I, which received commitments of over Rs. 675 crores from domestic high net worth clients and institutional investors, will continue to accept applications for a limited period before announcing its second and final closing.
The Aditya Birla Group contributed 20% of the fund corpus.
The fund, which is sector-agnostic, will take minority stakes in unlisted, mid-cap, high-growth, Indian businesses.
Its Advisory Board includes Mr. RC Bhargava and Dr. Ashok Misra.
Commenting on the closing, Mr. Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group, was reportes as saying: “Private Equity plays an important role in delivering the commitment of the Aditya Birla Financial Services Group to meet all the needs of our target customers.
“We have ambitious plans for this business and our maiden fund’s mobilization of over Rs. 675 crores is a good first step in that direction.
“Our strong investment team will now put this money to work for our investors”.
FinSMEs
18/01/2010

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