Apax Partners to Invest in India
Monday, November 27, 2006
Apax is looking for long-term investment and buyout opportunities in the fast-growing technology, telecom, retail and consumer, media, healthcare and financial services sectors. It also has several companies in its portfolio that may interest Indian firms as they scout for foreign assets to expand their reach and size. Indian entrepreneurs’ increasing appetite for foreign companies is drawing private equity firms with saleable companies in their portfolio to set up shop in India. London-based private equity firm Apax Partners is raising a Euro 8.5 billion fund, part of which it hopes to invest in Indian companies that are likely to grow quickly as well as help those that are looking to buy foreign assets, many of which could come from its own portfolio.
Apax is looking for long-term investment and buyout opportunities in the fast-growing technology, telecom, retail and consumer, media, healthcare and financial services sectors. It also has several companies in its portfolio that may interest Indian firms as they scout for foreign assets to expand their reach and size.
“You’ll see many Indian companies teaming up to bid for foreign assets,” Apax Partners Asia chairman, Max Burger-Calderon, said. Apax was one of three private equity firms that sold its ownership in Belgian wind turbine gearmaker Hansen Transmissions to Pune-based Suzlon Energy in a $465 million all-cash deal. The $20 billion fund could do similar deals in other sectors too.
Neeraj Bharadwaj, MD and country head for India, said the top 10 private equity firms now own about 60% of the businesses in Europe. Several of them could be scouting for exit opportunities now that the companies have grown in value.
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