ChrysCapital Plans To Raise $500Mn For Sixth Fund

ChrysCapital is planning to raise $500 MN (R2500Cr) from overseas investors for its sixth fund.

The PE firm plans to raise $300Mn from investors in the US, $100Mn from Europe and the rest from Asia and the fund will be raised from long-term investors such as endowments, pension and sovereign funds.

The proposed fund will focus investment across diverse sectors.

Founded in 1999 by Ashish Dhawan and Raj Kondur, ChrysCapital manages $2bn across five funds.

The fund invests across sectors which includes business services; nformation technology; consumer goods and services; financial services; real estate; healthcare with a focus on pharmaceuticals, medical diagnostics and devices; infrastructure, power, and manufacturing sectors.

The firm invests between $30Mn and $30Mn in companies with revenues ranging between $50Mn to $1bn for a period of four to seven years.

It portfolio investments includes Eris Lifesciences, IntasPharma, JMT Auto, KPIT Cummins, Mankind Pharma, Pratbha Industries, Shriram City Union Finance among others.

Recently, Red Fort Capital raised $500 Mn real estate private equity fund to invest in commercial and residential assets.

Kotak Realty Fund is also planning to launch its fourth realty fund and to raise R600Cr from investors.

Ajay Piramal's IndiaReit Fund Advisors Pvt Ltd is also planning to raise R500Cr through a new fund - Mumbai Redevelopment Fund for investments in redevelopment of slums and tenanted properties in Mumbai. It will have a greenshoe option of R250Cr and will be targeting returns in excess of 30%.

Triangle Real Estate Fund is planning to raise $200mn for it's second India centric real estate fund.

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